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Turned down for a secured credit card, huh?

New Contributor

Turned down for a secured credit card, huh?

so today my fiance went to wells fargo to apply for a secured card and was denied. His scores are in the 570s, which is higher than mine are but i was able to get one two weeks ago. I didn't even know you could be turned down for a secured card. Did the lady that helped him just not know what she was doing or something?
Message 1 of 63
62 REPLIES
Super Contributor

Re: Turned down for a secured credit card, huh?

Have you tried your local credit union? Credit Unions are much more sympathetic and easier to work with.

Message 2 of 63
Established Contributor

Re: Turned down for a secured credit card, huh?

Wells Fargo turns people down sometimes.  Two sure things are Orchard Bank secured and National City Bank secured.  They don't turn anybody down.
Message 3 of 63
Established Member

Re: Turned down for a secured credit card, huh?

I recently got denied by both Wells Fargo and Citi. I am working on a recon as we speak. I did however get approved for National City, and awaiting a decision from US Bank. If US Bank does not do through, I may apply with Merrick Bank as a final resort.
Message 4 of 63
New Contributor

Re: Turned down for a secured credit card, huh?

We applied at BOA today... Hopefully he's approved!
Message 5 of 63
Moderator Emeritus

Re: Turned down for a secured credit card, huh?

Actually I was denied with BofA with an EX of 580. I focused on repair and reapplied and got a partially secured with them 3 months later.
Message 6 of 63
New Contributor

Re: Turned down for a secured credit card, huh?

Darn... well at least this is a learning experience... before today I thought that you could not get turned down for a secured credit card. I thought anyone could open one. I guess we'll just wait for the denial and go with orchard or something. Smiley Tongue
Message 7 of 63
Established Member

Re: Turned down for a secured credit card, huh?

if denied go with hsbc\ orchard and try again in 6 months.
Message 8 of 63
Established Contributor

Re: Turned down for a secured credit card, huh?


hotsaka wrote:
if denied go with hsbc\ orchard and try again in 6 months.

 

Hotsaka has it right. Orchard approved me for their secured product when Citi denied me for a secured card when I started building credit. I have no complaints about Orchard, they have been easy to make payments on and do not report as secured on the credit reports. You can pay them online, and it is free to do so. (Some banks and CC's charge to make online payments.) 

 

Only bad thing about Orchard is it might take forever to unsecure.

____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Message 9 of 63
New Contributor

Re: Turned down for a secured credit card, huh?

Hmmm, I was gonna do the Orchard bank card for him but there might be a problem... On his credit report he has a collection listed from best buy that says HSBC/best buy. Is it the same thing? If so I bet they wouldn't approve him for the card considering he owes them money. I'm confused tho, cuz the card was a best buy card. I dunno, should I try it or not?

Message 10 of 63