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@doc101 wrote:Thanks for the info. Since I already bank with WF, I may try them first. Then again, I may try BoA
I have a Wells Fargo credit card (and I have a checking account with them). I've had nothing but good service from them. Treat Wells Fargo good and they'll extend the same courtesy.
@goosedog wrote:
@doc101 wrote:Can anyone apply for the card from SDFCU?
Don't bother with them. Tryin to even get membership is like tryin to jump through hoopes on fire from a 30,000 foot skydive. They want your whole life story before they approve you. I got an email from them last week asking for the following
Copy of drivers license
copy of social security card
copy of permament resident card or passport
copy of recent utility bill in your name
copy of mortgage or rental lease
Than they pull your credit score and report and make the determination if they will approve your membership. I eventually told them forget it. They said they take verification very seriously so if i could not send them the info, than i was more than welcome to walk into a branch (they only have them in the great DC area) and talk to a banker.
You are better off with BOA because WF may deny it. You can also look at US BANK secured cards. They do offer rewards for their members and discounts on rental cards and their cards unsecure in as little as 12 months. I had one back in 2001 that unsecured after 9 months.
This wasn't my experience with SDFCU at all for membership nor their secured card application.
Regardless, BOFA is the best secured card nearly hands down, with the exception if you need non-trivial forex purchases in which case SDFCU is better (3% on BOFA's card is harsh). For reference, BOFA's secured card with the exception of the AF is effectively equivalent to an Amex BCE, and obtainable somewhere 120 or more FICO points below from an underwriting perspective.
Really for establishing positive payment history, one should acquire two (or maybe 3, debatable) cards anyway. If I had to do it all over again, I would've gone BOFA secured, SDFCU secured, and ignored everything else until I was able to pull a trigger for my eventual Amex charge card and Chase Freedom (relationship) and subsequently stepping into a backdated Amex revolver for limit chasing.
Plenty of paths though, and with good habits they all lead to where we want to go eventually, really when establishing positive history *any* secured card which reports is ideal. Optimal rewards or credit report reindeer games can be pursued later.
+1000 Wells Fargo is insane! They denied me offered a secure card, which ive banked with them for a while.. my thought, they access my direct deposited funds before i do lol.. But, now BofA whom i have no checking, no savings, and no IRA with, extends their gracious hand out and call me and say "come my son here is 7k line of credit on our signature card." Hope this helps your view. I will be switching banks soon i do believe.. Why stay at a bank that doesnt work with own customers...
@mcf wrote:+1000 Wells Fargo is insane! They denied me offered a secure card, which ive banked with them for a while.. my thought, they access my direct deposited funds before i do lol.. But, now BofA whom i have no checking, no savings, and no IRA with, extends their gracious hand out and call me and say "come my son here is 7k line of credit on our signature card." Hope this helps your view. I will be switching banks soon i do believe.. Why stay at a bank that doesnt work with own customers...
Sadly WF focuses on their mortgage business and much of the rest of their portfolio is an afterthought. Wells cards are utterly bland and nothing to write home about, and personally I think anyone armed with information found on this forum should really look other options than WF for cards. As far as checking accounts go I've not heard any complaints from my associates that use them, and for business checking I think they're near the top from what little I've heard, but for cards, go elsewhere is my recommendation.
@Revelate wrote:
@goosedog wrote:
@doc101 wrote:Can anyone apply for the card from SDFCU?
Don't bother with them. Tryin to even get membership is like tryin to jump through hoopes on fire from a 30,000 foot skydive. They want your whole life story before they approve you. I got an email from them last week asking for the following
Copy of drivers license
copy of social security card
copy of permament resident card or passport
copy of recent utility bill in your name
copy of mortgage or rental lease
Than they pull your credit score and report and make the determination if they will approve your membership. I eventually told them forget it. They said they take verification very seriously so if i could not send them the info, than i was more than welcome to walk into a branch (they only have them in the great DC area) and talk to a banker.
You are better off with BOA because WF may deny it. You can also look at US BANK secured cards. They do offer rewards for their members and discounts on rental cards and their cards unsecure in as little as 12 months. I had one back in 2001 that unsecured after 9 months.
This wasn't my experience with SDFCU at all for membership nor their secured card application.
Regardless, BOFA is the best secured card nearly hands down, with the exception if you need non-trivial forex purchases
Whats a non trivial forex purchase?