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Thanks guys for the additional comments and info over the past few months. I'll scroll through my OP when I get to a computer and make some tweaks.
Edited to add: I've fixed Citi to show it allows online applications and added a note about US Bank Skypass being shady about unsecuring - their website mentions an eligibility but I know that particular bank likes to be a little fussy.
@Anonymous wrote:Just a data point... my secured FNBO Visa unsecured at 10 months, not 15. I got two unsecured CLIs. From $300 to $400, then from $400 to $700. Both happened before the graduation, but I can't remember exactly how old the card was when I got them.
I know it's been AGES since you said this, but did you have the Kickstart Visa? That one according to their website states eligibility to unsecure begins at 11 months which happens to align closely to your data point here (I have both of the cards on the chart and they're similar but have different APRs and eligibility from what I could find).
could you add the following to the list:
-who they pull
-minimum deposit or deposit range
Might be helpful to others...
I see that it has been asked a few times but i cannot find an answer. Can some of you share what your scores and also any baddies you had when you got a specific secured card ? Thank you
@Schoolbuskid wrote:could you add the following to the list:
-who they pull
-minimum deposit or deposit range
Might be helpful to others...
I'll work on the deposit range over the next couple days BUT who they pull is harder. Some companies pull differently depending on location rather than company itself (Discover is a big one I can give an example for - they ONLY pulled TU for me but a lot of people report EX or EQ or a double pull out of them, and so far as I can tell it's the applicant's location that is the factor).
The biggest advice I can give on something like this is to check a credit pull database to see what others have reported. I have noted if it's a hard pull or a soft pull but so far as who they pull is really a hard question to answer with the exception of someplace like Capital One, which is a known triple pull.
Excellent, thanks for the consideration!
@Anonymous wrote:
@Schoolbuskid wrote:could you add the following to the list:
-who they pull
-minimum deposit or deposit range
Might be helpful to others...
I'll work on the deposit range over the next couple days BUT who they pull is harder. Some companies pull differently depending on location rather than company itself (Discover is a big one I can give an example for - they ONLY pulled TU for me but a lot of people report EX or EQ or a double pull out of them, and so far as I can tell it's the applicant's location that is the factor).
The biggest advice I can give on something like this is to check a credit pull database to see what others have reported. I have noted if it's a hard pull or a soft pull but so far as who they pull is really a hard question to answer with the exception of someplace like Capital One, which is a known triple pull.
@Anonymous wrote:Thanks guys for the additional comments and info over the past few months. I'll scroll through my OP when I get to a computer and make some tweaks.
Edited to add: I've fixed Citi to show it allows online applications and added a note about US Bank Skypass being shady about unsecuring - their website mentions an eligibility but I know that particular bank likes to be a little fussy.
I spoke with US Bank underwriting and their secured card and graduation. They stated that after one year you can call and make the request. They will review the request and go through the normal application process. If you are approved they will convert the account but issue you a new card. They also stated that if you have a BK they require 5 years post discharge before they would consider unsecuring the card.
I have been hearing that Discover is going to let folks apply directly for their secured card in the first quarter of 2016. I called their New Accounts department and the rep would not confirm or deny this but highly encouraged people to regularly check out their webbsite to see new product offerings.
@sjt wrote:I have been hearing that Discover is going to let folks apply directly for their secured card in the first quarter of 2016. I called their New Accounts department and the rep would not confirm or deny this but highly encouraged people to regularly check out their webbsite to see new product offerings.
If so, that would be amazing. If they keep the same terms otherwise (basically identical reward structures with the unsecured card and no annual fee) and they guarantee graduation (like they currently do), they would be a great choice for those starting off without any credit and for those who are rebuilding. Especially for the graduation, because the card will be useful even down the line. If only other lenders like Capital One would follow suite and uncesure their secured members