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Regular Contributor
Posts: 163
Registered: ‎01-03-2012
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Secured cc

My husband has me as an authorized user. Should I get a secured cc to help boost my credit? If so, any advice which one? Thank you.
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Moderator Emeritus
Posts: 12,528
Registered: ‎12-30-2011
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Re: Secured cc

[ Edited ]

If you have no other CC lines, absolutely, as soon as possible.  Get two even.

 

Also for some forms of credit, AU lines may not be useful at all unfortunately, and God only knows what comes up on manual review.  Regardless of whether you're AU or not, establish your own history anyway for dozens of good reasons and not a single bad one.

 

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Established Contributor
Posts: 866
Registered: ‎09-22-2011
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Re: Secured cc


Revelate wrote:

If you have no other CC lines, absolutely, as soon as possible.  Get two even.

 

Also for some forms of credit, AU lines may not be useful at all unfortunately, and God only knows what comes up on manual review.  Regardless of whether you're AU or not, establish your own history anyway for dozens of good reasons and not a single bad one.

 +1


 

Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
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Re: Secured cc

Can you get in with NFCU? If not I would highly recommend bofa secured but you might get denied like I did and I just called for recon and was approved. Just do a search on here like I did and read up on secured cards that graduate and read the success stories.
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Established Contributor
Posts: 1,002
Registered: ‎12-06-2011
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Re: Secured cc


rootpooty wrote:
Can you get in with NFCU? If not I would highly recommend bofa secured but you might get denied like I did and I just called for recon and was approved. Just do a search on here like I did and read up on secured cards that graduate and read the success stories.

I woud like a BoA secured card as well... how did you recon? what do they look for in order to approve you? I applied for their Americard Visa and got denied and tried to recon and was told to wait for the 7-10 day letter they sent me Smiley Mad I asked the CSR if she could possible approve me for a secured card but said I needed to apply again Smiley Sad (another HP for sure) and that I could also stop by a branch to apply.


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620
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Established Contributor
Posts: 913
Registered: ‎06-09-2011
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Re: Secured cc

When I applied for a BofA card and got denied, I basically got told the same - wait for the letter. Then a few weeks later I got a counter-offer to apply for the secured card - but of course- it required another HP. Honestly, I don't know why I took the offer, but now I'm sitting on that card for another half a year.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: Secured cc


Yoli14 wrote:
My husband has me as an authorized user. Should I get a secured cc to help boost my credit? If so, any advice which one? Thank you.

Do you have any other CC's on your file?? If not I would to get 2, Try Cap1 pre-qualifier and HSBC pre-qualifier. Better for FICO scoring with 2 major bankcards reporting.




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Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
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Re: Secured cc

I called the credit analyst number that can be found in the sticky here. I was told they denied me cause my current address didn't match what tu had on file. They might counter offer you their 99/500 card which is only available as a counter offer
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
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Moderator Emeritus
Posts: 12,528
Registered: ‎12-30-2011
0

Re: Secured cc


rootpooty wrote:
I called the credit analyst number that can be found in the sticky here. I was told they denied me cause my current address didn't match what tu had on file. They might counter offer you their 99/500 card which is only available as a counter offer

Funny you should mention that, during my late December spree I applied for a Cap 1 unsecured, and was insta-denied: the strange thing is today I received a letter from them saying they were still looking into things, because my addresses on my credit reports were different, and that I may have been a victim of identity theft.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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