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Super Contributor
Ron1
Posts: 5,476
Registered: ‎05-23-2009
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Re: can't even get a savings account so how do i get a secured credit card?

Have you tried ING Direct Orange Checking? They don't check chexsystem.

 

link:

 

http://www.ingdirect.com

 

 

Ron.

Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
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Re: can't even get a savings account so how do i get a secured credit card?

I'm not looking for a checking account. I'm looking for a credit card.  But re: ING they actually turned me down for a checking account and that was before I defaulted on 4 or 5 CC last year so not sure what they thought was bad about me.  I do use them for my primary savings.  But I wanted to get with a credit union or bank that offered a secured credit card.  I sent my money to US Bank and they returned it saying I'm not in their service area or I would have a card with them last month.

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Super Contributor
Ron1
Posts: 5,476
Registered: ‎05-23-2009
0

Re: can't even get a savings account so how do i get a secured credit card?


mt2va wrote:

I'm not looking for a checking account. I'm looking for a credit card.  But re: ING they actually turned me down for a checking account and that was before I defaulted on 4 or 5 CC last year so not sure what they thought was bad about me.  I do use them for my primary savings.  But I wanted to get with a credit union or bank that offered a secured credit card.  I sent my money to US Bank and they returned it saying I'm not in their service area or I would have a card with them last month.


Have you tried First Progress secured card?  My brother have had the card for over six months. They are pretty good.

 

http:// www.firstprogress.com

 

 

Ron.

Frequent Contributor
Razeus
Posts: 395
Registered: ‎04-02-2012
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Re: can't even get a savings account so how do i get a secured credit card?

Honestly, you should go to strictly a cash only lifestyle for 2 years.  While doing so, build a cash emergency fund of at least 3 months expenses.  You need to open a spreadsheet and document your debts, what the minimum payment is for each and attack one of those debts by applying as much cash to it as you can, then snowball that cash into the next one until you get this mess sorted out.


I'm not saying you can't handle your credit and I understand your want of a secured card, but frankly, you're in such a mess it'll be hard for someone to take you seriously.  All they see are numbers on a report, not your situation.

 

And sign up for a credit monitoring service.  Credit Karma is free and will let you know if someone hard pulls your file.  That way you can monitor your file in case your ex-hubby continues to play games with your finances.


If you have any accounts that he opened under your name, file a police report for fraud/identity theft and begin the work to remove those amounts from your credit file.

 

 

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Established Contributor
NikJ4
Posts: 662
Registered: ‎01-24-2008
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Re: can't even get a savings account so how do i get a secured credit card?

If you are a member of USAA then you can get a Savings acct and a Checking. You also mentioned the AMEX secured so just get this and increase it. If you can manage to get the M/C Secured through them (meaning when you have additional funds) get it. Then sit still and work on fixing the credit. You cant get to the top of the mountain in just one leap. You have to climb each rock slowly as to not fall. It seems as though your frustrated and I can only imagine but use this negative situation to take control and make it into something positive. Good Luck and know you have an entire semi-sane community here to support you!!!

Nik J



Start Score:493Current Score:635
Goal Score: 700>>>>>App free since (umm not saying...I struggle with this)
Valued Contributor
ryanbush
Posts: 1,292
Registered: ‎08-19-2012
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Re: can't even get a savings account so how do i get a secured credit card?


Razeus wrote:

Honestly, you should go to strictly a cash only lifestyle for 2 years.  While doing so, build a cash emergency fund of at least 3 months expenses.  You need to open a spreadsheet and document your debts, what the minimum payment is for each and attack one of those debts by applying as much cash to it as you can, then snowball that cash into the next one until you get this mess sorted out.


I'm not saying you can't handle your credit and I understand your want of a secured card, but frankly, you're in such a mess it'll be hard for someone to take you seriously.  All they see are numbers on a report, not your situation.

 

And sign up for a credit monitoring service.  Credit Karma is free and will let you know if someone hard pulls your file.  That way you can monitor your file in case your ex-hubby continues to play games with your finances.


If you have any accounts that he opened under your name, file a police report for fraud/identity theft and begin the work to remove those amounts from your credit file.

 

 


 

 

this is the best advice you have been given yet!

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Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: can't even get a savings account so how do i get a secured credit card?

I'm very happy with my checking account at Suntrust Bank.  But I'm depositing $75 every pay day to my USAA savings account with plans to open a secured AMEX (yeah I know but I've never had an AMEX ever and probably the only way I will ever get one) when I reach probably $600 and that will give me time to try to get my other obligations straight.  I know once my score goes up I'll have other options and I'm hoping to hit NFCU up again and see what they can do for me as they have been the most generous so far. 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: can't even get a savings account so how do i get a secured credit card?

Funny how 5 different Credit Unions turned me down for membership with them because of my credit.  I recon all of them explaining I only wanted to open a savings account and to put money in it so I could open a secured credit card with them so I could re-build my credit.  One of them even took it to a manager and no one would give me a chance.  Even though I told them I would never ask for a checking account or any kind of loan product. 

 

Funny thing is USAA had no problem with me opening a savings account with them.  I did it all online.  Funny thing is I burned USAA for about $2,000 on a MC and personal loan when I filed bankruptcy in 1996.  Maybe it was because I was a member so long first under my dad and then on my own since 1990.  As far as I'm concerned USAA & NFCU (if I can get myself straight with them again) are the 2 best lenders ever and I'm very fortunate due to my dad being retired air force that I was able to get full membership through him with both of them. 

Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)



Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: can't even get a savings account so how do i get a secured credit card?


mt2va wrote:

Funny how 5 different Credit Unions turned me down for membership with them because of my credit.  I recon all of them explaining I only wanted to open a savings account and to put money in it so I could open a secured credit card with them so I could re-build my credit.  One of them even took it to a manager and no one would give me a chance.  Even though I told them I would never ask for a checking account or any kind of loan product. 

 

Funny thing is USAA had no problem with me opening a savings account with them.  I did it all online.  Funny thing is I burned USAA for about $2,000 on a MC and personal loan when I filed bankruptcy in 1996.  Maybe it was because I was a member so long first under my dad and then on my own since 1990.  As far as I'm concerned USAA & NFCU (if I can get myself straight with them again) are the 2 best lenders ever and I'm very fortunate due to my dad being retired air force that I was able to get full membership through him with both of them. 


 

Where do you live? and second try getting authorized user accounts in your name. meaning if your dad has good credit history with some old credit cards that are still open (older the better) it will copy and paste that credit card's history into your account. Not all but many credit cards will. After that you can get started.

 

Many credit unions has to protect themselves against risky borrowers remember credit unions are non for profit and they must protect their "shareholders" which are other members of the union and not a board of directors, I can understand why. Regardless if your trying hard to get back on your feet, and people can see you as a responsible person who just got some bad luck they should be willing to help you to get authorized user accounts to get your scores up quite a bit, atleast to a point where you can get a credit union. I understand how this feels cause I was put into chexsystems years ago and couldn't even get a bank account for years for $7.... that no one told me about I was about 19 then and the banks switched ownerships and lost my mailing address. I thought I had enough there  but I guess not. Part my fault too for not realizing.

 

Anyways if you live in the FL area, I won't mind adding you as an AU if you can visit the Tampa area, only reason why I request it to be local is because people shouldn't hand out personal private information over the internet to strangers, but the risk is cut dramatically if I just hand you my laptop for a second while you punch in your important information that I shouldn't get access to.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
mt2va
Posts: 532
Registered: ‎03-20-2009
0

Re: can't even get a savings account so how do i get a secured credit card?

Thanks for all the great info.  Yes I understand about credit unions have to protect their members but they also have a reputation of being easier to work with than banks.  That's okay I'm going to go the secured credit card route for a bit and hope when my score gets better to maybe hit up a couple lenders I've never burned before and get back on track.  Fortunately, after 20 years with an abusive deadbeat alcoholic husband who ruined my finances I'm out from under that mess at last and ready to get on with my life!

 

distantarray I am an AU on a Visa card my mom has from FNBO.  However, I've not seen it show up on any of my credit reports.  Any idea how to make that happen??  Both of my parents have perfect credit.  (my dad's is probably slightly better due to having longer credit history and more income than my mom but I know hers is good as well)  However, my dad still isn't speaking to me (over my soon to be ex that he thought I took to long to finally leave) so he's not going to add me.  My mom did so I would have a CC if I had an emergency. 
Starting Scores 10/12: EQ 460 (FICO)/TU 502 (FAKO)/EX 474 (FAKO)
Current (7/14): EQ 572 (FICO)/TU 624 (FICO)/ EX 612 (FICO)




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