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Wells Fargo or Bank of Am

Regular Contributor

Wells Fargo or Bank of Am

Which bank has the best secured card......WF or BoA?


Starting Score:Equifax 543
Current Score:EQ659 TU 716 EXP677 updated 7/3/2016
Goal Score: 700


17 REPLIES
Senior Contributor

Re: Wells Fargo or Bank of Am

Ive seen BofA cardholders with successful secured cards graduating stories, i say bofa

Banking with CBofTV, BofH, and BBVA. All three are free checking accounts.
First Premier CC $500
Chapter 7 BK Discharged on 7/11/16
Equifax, Experian, Transunion, and ChexSystem are FROZEN.
Gardening Since 10/25/2017
Super Contributor

Re: Wells Fargo or Bank of Am

IMHO 

BofA by far is a better product

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Super Contributor

Re: Wells Fargo or Bank of Am


myjourney wrote:

IMHO 

BofA by far is a better product


+1

 

In my view, BofA has the best secured card. 

 

Problem with Wells is (1) the uncertainty regarding when and if it graduates, (2) and even if it were to graduate, they lack the options offered by BofA.

Frequent Contributor

Re: Wells Fargo or Bank of Am

Better check SDFCU they have way better secured card 6.9 and they report it all 3 CB.
Moderator Emerita

Re: Wells Fargo or Bank of Am

I agree with kampfer about SDFCU- it will not graduate however.
Frequent Contributor

Re: Wells Fargo or Bank of Am

You can always ask them if they can upgrade it to unsecured card. I have done it in the beginning after having the card for a year and boom they gave it to me.
Moderator Emerita

Re: Wells Fargo or Bank of Am

Regular Contributor

Re: Wells Fargo or Bank of Am

Can anyone apply for the card from SDFCU?


Starting Score:Equifax 543
Current Score:EQ659 TU 716 EXP677 updated 7/3/2016
Goal Score: 700


Regular Contributor

Re: Wells Fargo or Bank of Am


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.