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US bank secured card data;an non- USbank secured CC

Established Contributor

US bank secured card data;an non- USbank secured CC

Smiley Very HappyHello, myFICO communitySmiley Very Happy

 

       

 I have been seaching far and wide for information on sercured CC's for years now. Over a year ago, I opened an US bank secured card, and it seems that some of their practices concerning unsecuering the secured CC's is  not what you would call "good biz practices" so please help me out.

 

                                                                                                           

 

 

 {non-US bank secured CC are welcome!!!}

 

calling all{US bank secured CC holders}*{please list data points,that will help with CC graduation in the fico community}

 

 {non-US bank secured CC are welcome!!!}

 

 

 

         1.Banks Name:

 

         2.Secured amount:                

                                                                              

         3.How old is card:

 

         4.Unsecure attempt:After how many Mo.

 

         5.Graduation Time frame:How many Mo. before unsecure HP or SP

 

         6.Any CLI after gradaution:

 

 

Place any notes here about unsecuring process:

 

 

 

 

 


 UPDATE: 7-2-17

 

 

1.Banks Name: Elan Financial

2.Secured amount: $5000.oo

3.How old is card: 1YR. 5MO.

4.Unsecure attempt:

5.Graduation Time frame: 17MO.

6.Any CLI after gradaution: Yes, same day on graduation. 


Place any notes here about unsecuring process:

 

 

 

 

4.Unsecure attempt: 5

 

I believe it went something in this order 2 calls +2 letters,you know spread out over like 2-3mo. requesting to have CC funds unsecured and (blah blah) please if you could be so kind as to doing a soft pull. Elan fin. is very FIRM on hard pull even speaking with a MGR. That being said I finally made an executive decision LOL I called in and put in the request to have it unsecured  and take the hard pull.

 

Note: They said, its a manual review and this took 24-48

 


5.Graduation Time frame: 17MO.

 

 

I do not believe this CC would have unsecured on its own.

 


6.Any CLI after gradaution: Yes,same day as graduation.

 

ok, so after dealing with US bank,I knew the game a lil. So I already knew to ask for a increase,I called the very next day while the CC is in process of being unsecured.....so remember back when the US bank rep said the following...

 

"If we stay between $5000.oo - $10,000.oo we should be able to use same HP."

 

Gave it a go and asked Elan rep. to raise it by $9500.oo !!!!!!

 

Bringing Elan CL to $14,500.oo definetly worth the HP.

 

other notes....it PC'd to platinum and process started 6-22-17

CC arrived 7-1-17 so like 1week 3days

still no check lolSmiley Very Happy but going off of  US bank process it should arrive Mon. or Weds.

Update:7/7/17 

Check cut 6/26 from US Bank arrived Weds 7/5 jus as predicted.

 

 

 

THKS to those that are following!!!!! If you have Secured CC data please post it here THKS Smiley Happy

 

 

 

   *+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*

 

 

UPDATE: 10-12-16

 

 

         1.Banks Name: US bank 

 

         2.Secured amount: $5000.oo                

                                                                              

         3.How old is card: 1yr. 6mo.

 

         4.Unsecure attempt: After 13Mo., then @18mo.

 

         5.Graduation Time frame: 18mo.

 

         6.Any CLI after graduation: 4 days after graduation, CLI +$8000.oo

 

         7.Any unsecured PC: Yes,after graduation.

 

 

 

Place any notes here about unsecuring process:

 

After 13Mo. Ask if I qualify,to have card unsecured. The CSR replied no, have not tried again.

 

 

4.Unsecure attempt: After 13Mo., then @18mo.

                

NOTES: For line 4

 

(MY card did not unsecure on its own. I spoke to rep. and asked if it can be done. She told me it looks like you should unsecure no problem and CPU,is not asking for CR to be run.) {thought that last part was strange} also 2 reps said NO HP...dont believe it I got HP TWICE!!!

 

 

6.Any CLI after graduation: 4 days after graduation, CLI +$8000.oo

 

NOTES: For line 6

 

(For CLI after graduation, Call USbankcorp. UW dpt. I did and got a very nice rep. and I was polite in return,request that they use same HP.)

 

{LINE 6. DATA- UW. said, "If we stay between $5000.oo - $10,000.oo we should be able to use same HP."}

 

7.Any unsecured PC: Yes,after graduation.

 

NOTES: For line 7

 

(Ok, so right when you see card unsecure, call back or wait til you receive Plat. unsecured CC.I called a CSR soon as I saw card was going unsecured. And jus state to rep. "I was jus calling to see if there are any upgrades or new products available for my acc. In my case rep. said, yes cash+)

 

 

NOTES: MORE DATA 10/15/16

 

(Check cutting, USbankcorp started the securing process 10-4, cut check 10-6, post mark 10-10, arrived 10-14. Took 8 working days to arrive.) 

 

 

Example letter for requesting a secure credit limit increase below: This letter is good for USbank and Elan.... possible other banks to. 

 

Increase is in increments of $100, also $300 is min. and  $5000 is max. They will only except money order or cashier check.

 

                         *+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*

 

 name

123 w US st 

Los Angeles, CA 98765

(123)321-1234

uremail@yahoo.com

15th October 2016

US bank

Cardmember Services, Secured Processing

PO BOX 5555

FARGO, ND 55555-5555

This is a request for a credit line increase:  

**PLEASE,USE SOFT PULL CREDIT REPORT**

  1. ACC# **** **** **** ****
  2. name
  3. address
  4. Annual Income: $0
  5. Rent or Own: NONE
  6. Monthly housing: $0
  7. Increase amount: $0

 

Sincerely,




your name

 

 

 

 

          *=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*=*=*+*

 

 

 

This letter will help with BOOSTING your secured amount to $5000.oo which will automatically qualifies you for a Visa signature.

 

Tip: Open acc. with $2500.oo then at end of month 5, add another $2500.oo

 

 

 

Smiley Very Happy Really hopes this help someone!! Smiley Very Happy

 

 

                                                                          

wells.jpg 2chase navychase east westchase us bankimg src=ChaseFreedom_F.inddC_DP7_EMV_MNLW_18-PID 257.epsnavy fedBCE&ED|Chase|NFCUcc&CLOC|WF|Cash+|ElanFin.|Dia'md prefer.|Gard'N since 6/23/2017|TOTAL CL$111.2K !!!NOIIICE!!!
103 REPLIES
Frequent Contributor

Re: US bank secured card data;an non- USbank secured CC

If they don't do it on their own and you request it it will be a hard pull. Watch because they might just send you a different product and say that's what you qualify for
Message 2 of 104
Established Contributor

Re: US bank secured card data;an non- USbank secured CC

1.Banks Name: US bank 

 

         2.Secured amount: $5000.oo                

                                                                              

         3.How old is card:1yr. 3mo.

 

         4.Unsecure attempt:After 13Mo.

 

         5.Graduation Time frame:NA

 

         6.Any CLI after gradaution:NA

 

 

Place any notes here about unsecuring process: 

After 13Mo. Ask if I qualify,to have card unsecured. The CSR replied no, have not tried again.

wells.jpg 2chase navychase east westchase us bankimg src=ChaseFreedom_F.inddC_DP7_EMV_MNLW_18-PID 257.epsnavy fedBCE&ED|Chase|NFCUcc&CLOC|WF|Cash+|ElanFin.|Dia'md prefer.|Gard'N since 6/23/2017|TOTAL CL$111.2K !!!NOIIICE!!!
Message 3 of 104
Established Contributor

Re: US bank secured card data;an non- USbank secured CC

1.Banks Name: US bank

2.Secured amount: $1000.00

3.How old is card:1yr. 6 mo.

4.Unsecure attempt: Still waiting

5.Graduation Time frame:NA

6.Any CLI after gradaution:NA


Place any notes here about unsecuring process:

I opened a US Bank (1K), Wells Fargo (1K), and USAA (1K) secured card in Jan 2015. At the time, I hadn't used any credit in almost 8 year's, so my scores were all high 500's, low 600's. I also took out a personal secured loan from Wells Fargo for 3K over 12 Month's (which I've since PIF). In the past 18 month's, I've been approved for every CC I've appd, including Chase, Citi, Amex, Disc, SDFCU, Cap One, and FNBO all with CL's between 5K - 20K with most around 10K. Wells Fargo sent me a letter after 12 month's stating they were switching me to an unsecured Visa with a 2500. CL and returning my 1K deposit. I was also approved for a second card with them, the Amex Propel (3k). My FICO 8 scores are all between 720 - 780 w/20% UTI. My US Bank and USAA cards is still secured. While I know USAA doesn't graduate, I was hoping my US Bank would've by now. I'm going to close it out by year's end if they don't graduate me to an unsecured product. I've used the card every month, putting approx 50.00 on it and paying it off in full.
Message 4 of 104
Valued Contributor

Re: US bank secured card data;an non- USbank secured CC

From the looks of the cards in your siggy, it seems you've made progress to the point where you don't need the secured cards. I wouldn't sweat it too much, if your profile is in good shape. If it were me, I might be more tempted to just close it, when I read about others experiences with them. This, assuming you can't get something worked out.
EX 08 Fico: 729 TU 08 Fico: 735EQ 08 Fico: 740Total Credit Line: $128,600Utilization: 6%Inquiries:EX-6TU-7EQ-5


Message 5 of 104
Established Contributor

Re: US bank secured card data;an non- USbank secured CC

@drewg350@

My WF unsecured the exact same way,wish all secured CC did it like WF...thks a lot for your valued input.

Please update your post with any new details.
wells.jpg 2chase navychase east westchase us bankimg src=ChaseFreedom_F.inddC_DP7_EMV_MNLW_18-PID 257.epsnavy fedBCE&ED|Chase|NFCUcc&CLOC|WF|Cash+|ElanFin.|Dia'md prefer.|Gard'N since 6/23/2017|TOTAL CL$111.2K !!!NOIIICE!!!
Message 6 of 104
Established Contributor

Re: US bank secured card data;an non- USbank secured CC


@RM21@

Yea....I kno😃 jus wish I had more info...on US bank secured CC I don't think I would have got it;hoping this post help someone make a better decision than I did.
wells.jpg 2chase navychase east westchase us bankimg src=ChaseFreedom_F.inddC_DP7_EMV_MNLW_18-PID 257.epsnavy fedBCE&ED|Chase|NFCUcc&CLOC|WF|Cash+|ElanFin.|Dia'md prefer.|Gard'N since 6/23/2017|TOTAL CL$111.2K !!!NOIIICE!!!
Message 7 of 104
Frequent Contributor

Re: US bank secured card data;an non- USbank secured CC

I've had my LifeMiles secured since Aug 2014 and I received US Bank Secured Rewards today  as they are doing away with LifeMiles...I never called trying to unsecure it..I highly doubt it. They will even HP for a CLI if I rememeber correctly. 

Aug 14 EQ 500 TU 542 EX 520 May 15 EQ 661 TU 656 EX 648 July 16 EQ 685 TU 671 EX 672
Message 8 of 104
Established Contributor

Re: US bank secured card data;an non- USbank secured CC

@alphabravo@


THKS for info didn't know they had a rewards SECURED CC....😃
wells.jpg 2chase navychase east westchase us bankimg src=ChaseFreedom_F.inddC_DP7_EMV_MNLW_18-PID 257.epsnavy fedBCE&ED|Chase|NFCUcc&CLOC|WF|Cash+|ElanFin.|Dia'md prefer.|Gard'N since 6/23/2017|TOTAL CL$111.2K !!!NOIIICE!!!
Message 9 of 104
Established Contributor

Re: US bank secured card data;an non- USbank secured CC

Also in CA at least US bank gives free checking and Savings acc.'s;to US bank CC holders jus for those who my not know.
wells.jpg 2chase navychase east westchase us bankimg src=ChaseFreedom_F.inddC_DP7_EMV_MNLW_18-PID 257.epsnavy fedBCE&ED|Chase|NFCUcc&CLOC|WF|Cash+|ElanFin.|Dia'md prefer.|Gard'N since 6/23/2017|TOTAL CL$111.2K !!!NOIIICE!!!
Message 10 of 104