Secured Credit Cards

[Anonymous]

Thanks Brammy.

[ronq]

Time and no lates is the key. A secured card from a CU will usually release your security after 12 months of good payments.

[Anonymous]

Funny I just got off the phone with one of my banks, Juniper,  one of the first cards I got after closing the Household bank card.  I was concerned that my limit had not increased, nor my interest rate decreased as I thought it should have with the great offers I have now.

After speaking with a rep, I got the 'too much avail credit on bankcards' explanation was preventing them from offering me more.  Funny because most of my additional bankcard  credit came from CLIs.  One card is sitting at 4xs the limit it was when I applied just over a year ago.

I had tried to find the magic combo to make them increase the limit from carrying no balance to carrying a small balance for a few months (not long at that rate).

Will I close a lower rate card to get them to like me? No.  But I may close theirs in Sept if I can talk my other card into adding the amount of that current credit line 2750.00 to my existing line.  Its all about utilization it seems too much AND too little.

Message Edited by Brammy on 08-22-2007 06:41 PM

[SpecFile]

Very interesting Brammy!

[Anonymous]

After household which started out at 18% (I was more than happy to pay after all it was my first post-BK card) ket sneaking a higher ndhigher interest rate, finally over 21% with no other explaniation than 'business decision'.  I was more than happy to be offered a card at 15.9.  I knew in both cases I had to prove myself.  That was then......