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tboy1977
Posts: 221
Registered: ‎07-11-2012

Re: denied wells fargo secured credit card?

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‎08-08-2012 07:36 AM

Actually if you want a good secured card, go to US Bank.  If you are already there, we should be good. My cousin said they don't report secured either.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
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Valued Contributor
enharu
Posts: 2,245
Registered: ‎02-27-2013

Re: denied wells fargo secured credit card?

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‎04-04-2013 01:22 AM

Ok to OP:

Remove yourself from your parents' account. Wells fargo is very conservative. That late payment from Chase on top of your previous deliquent account with them probably scared them off. You can dispute it with the credit bureaus directly, by going to their website, and file a dispute with each of them.

 

Secondly, to clear misconception.

You CAN max out the card. As long as you pay in full, that does NOT affect utilization. Utilization is calculated by taking whatever you spend MINUS whatever amount you paid. So if you had a 1000 dollar CL card, and you spent 1000 bucks, then you paid 900 bucks and owe the remaining $100. Your utilization in this scenario is 10%. If you had paid in full, your utilization is 0%.

 

Current cards: Citi Thank You Preferred (20.5k), Chase Sapphire Preferred (15k), Chase Freedom (12k), Chase Amazon Visa (12.5k), US Bank Cash+ (15.5k), Discover IT (9k), Wells Fargo Platinum Visa (10.5k), Barclay Arrival World MC (8k), Bloomingdale's (2.1k), Macy's (3.5k).
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