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Established Contributor
Posts: 763
Registered: ‎07-04-2008
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Re: Turned down for Secured CC

I was there. Orchard is the best and then there is (gulp) First Premier.

The latter is a pain with all the fees BUT you'd have 2 positive trade lines and if you use them just to keep them active and only use 10%, your score will go up sooner. I cost myself a LOT of points earlier on by using 90+% earlier on. Now I am paying them down and look forward to the boost.

Try Orchard first and see what happens. I know that I was in a mess of a position and they took me. Thanks to them I am building good credit (slowly but surely).
Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Turned down for Secured CC



anca21bi wrote:
I considered BK, but decided to work through all my 23 collection accounts myself.  My fico scores are Eq-476-which just went up yesterday 21 points, Tu-554, Ex-529, I don't know why but once I get my letter in the mail I'm goint to contact them.


 
If you have 21 collection i'm thinking that's the reason why they wont approve you.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Turned down for Secured CC

When I started repair, I too appd for a secured card (BofA). Also turned down with scores in upper 500s.
Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: Turned down for Secured CC

You worked them through or are working them through?
Frequent Contributor
Posts: 362
Registered: ‎07-27-2008
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Re: Turned down for Secured CC

I have already paid off 4 collections account in July and will pay off another in August; with possbility of another.  I will continue to pay off at least 2 negatives a month.  On top of that sending out GW and PDF-this site is my only answer and help to give me the motivation. 
I had a unsecured orchard bank cc that went into collections after I had my baby, so I don't think I can go secured with them.
Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Turned down for Secured CC



anca21bi wrote:
I have already paid off 4 collections account in July and will pay off another in August; with possbility of another.  I will continue to pay off at least 2 negatives a month.  On top of that sending out GW and PDF-this site is my only answer and help to give me the motivation. 
I had a unsecured orchard bank cc that went into collections after I had my baby, so I don't think I can go secured with them.


Well keep paying it can only get better good luck on your credit success. Maybe after you pay some stuff down your can try to apply again with BOFA.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Regular Contributor
Posts: 156
Registered: ‎02-24-2008
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Re: Turned down for Secured CC

do you have any accounts with BOFA?

Maybe having a savings account?
Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Turned down for Secured CC



preci0uz wrote:
do you have any accounts with BOFA?

Maybe having a savings account?


In some cases that don't really work i opened up a Wamu account thinking i would have a better chance at getting a CC they denied me with the quickness so most likely that will not help.

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: Turned down for Secured CC



anca21bi wrote:
I have already paid off 4 collections account in July and will pay off another in August; with possbility of another.  I will continue to pay off at least 2 negatives a month.  On top of that sending out GW and PDF-this site is my only answer and help to give me the motivation. 
I had a unsecured orchard bank cc that went into collections after I had my baby, so I don't think I can go secured with them.


I think you need to wait until your picture improves before applying for more credit (secured or otherwise). The longer you can hold off the better you will do
Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Turned down for Secured CC



jmbfl wrote:


anca21bi wrote:
I have already paid off 4 collections account in July and will pay off another in August; with possbility of another.  I will continue to pay off at least 2 negatives a month.  On top of that sending out GW and PDF-this site is my only answer and help to give me the motivation. 
I had a unsecured orchard bank cc that went into collections after I had my baby, so I don't think I can go secured with them.


I think you need to wait until your picture improves before applying for more credit (secured or otherwise). The longer you can hold off the better you will do


I agree.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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