Transfer First Bankcard Secured to Unsecured

ericestes2 · ‎05-11-2014

Does anyone have any history with First Bankcard? My first credit building tactic 13 months ago was getting a $500 secured card with them (this is who my bank, BankPlus, offered).

I have about a ~%10 utilization and have always paid in full on time. They have increased my credit a few times to now $800, I think.

I would like to get this switched over to unsecured and have a nice CL. Does anyone have any experience doing this not only with First Bankcard, but any bank? What CL is to be expected? 750 FICO however 13 month old credit history.

Thank you in advance for your help.

gdale6 · ‎05-11-2014

@ericestes2 wrote:
Does anyone have any history with First Bankcard? My first credit building tactic 13 months ago was getting a $500 secured card with them (this is who my bank, BankPlus, offered).

I have about a ~%10 utilization and have always paid in full on time. They have increased my credit a few times to now $800, I think.

I would like to get this switched over to unsecured and have a nice CL. Does anyone have any experience doing this not only with First Bankcard, but any bank? What CL is to be expected? 750 FICO however 13 month old credit history.

Thank you in advance for your help.

There are several First Bankcards out there, are we talking First National Bank of Omaha??

ericestes2 · ‎05-11-2014

Apologize for that. It is First National Bank of Omaha and I access the site firstbankcard.com

myjourney · ‎05-11-2014

@ericestes2 wrote:
Apologize for that. It is First National Bank of Omaha and I access the site firstbankcard.com

Sorry they don't graduate

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

ericestes2 · ‎05-11-2014

@myjourney wrote:
Sorry they don't graduate

Wonderful. In that case I will keep this card as is.

Thank you.

gdale6 · ‎05-11-2014

@ericestes2 wrote:
@myjourney wrote:
Sorry they don't graduate
Wonderful. In that case I will keep this card as is.

Thank you.

I would app for their AMEX and upon receiving it close out the secured.

ericestes2 · ‎05-11-2014

Is it a good idea closing the secured if it is my oldest account?

myjourney · ‎05-11-2014

@ericestes2 wrote:
Is it a good idea closing the secured if it is my oldest account?

Good reading on closing cards

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

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Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

TiggerDat · ‎05-11-2014

I would keep it open for at least another year while you plant a few more seedlings in your garden. I think that it will help you out to keep it until they are at least a year old. Then at the two year mark get another few cards and close if it won't graduate or PC in any way. If there is an AF you might start off at the second year mark simply asking for them to waive it for the next year.

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.