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Contributor
Posts: 159
Registered: ‎09-14-2013
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DCU secured or BoA secured

Which would be a better secured card to get? I recently applied for the DCU one and they are only waiting for my deposit now, but I didnt know if a boa one would of been better. Should I cause another HP to attempt for a BoA or just keep the DCU one? 


Starting Score: EQ FICO 582, TU 614, EX 528 9/13
Current Score: EQ FICO 648, TU 678, EX 663
Goal Score: 700


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Valued Contributor
Posts: 1,655
Registered: ‎05-17-2013
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Re: DCU secured or BoA secured

How many credit cards do you currently have reporting? If it is anything less than 3. I would 100% go get the boa secured and the dcu secured. If you can only pick one stick with the dcu because you have already been approved. The boa secured is one of the hardest to get but it is one of the best because of the pc to 3-2-1 rewards and the ability to graduate. Hope this helps 

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

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Senior Contributor
Posts: 27,589
Registered: ‎02-07-2013
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Re: DCU secured or BoA secured


jbrown773 wrote:

Which would be a better secured card to get? I recently applied for the DCU one and they are only waiting for my deposit now, but I didnt know if a boa one would of been better. Should I cause another HP to attempt for a BoA or just keep the DCU one? 


Food for thought 

DCU is a great CU but secured card doesn't graduate

BofA secured does graduate

 

Should you apply for BofA?

Only you can answer that depends on how many TL's you have now as well as how many HP's and what your scores are currently

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Contributor
Posts: 159
Registered: ‎09-14-2013
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Re: DCU secured or BoA secured

Well I think I should have applied for that to begin with but that was my misjudgement. I had a bofa card charged off to collections a few years back which got paid off would that cause me to be denied it? 


Starting Score: EQ FICO 582, TU 614, EX 528 9/13
Current Score: EQ FICO 648, TU 678, EX 663
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Senior Contributor
Posts: 27,589
Registered: ‎02-07-2013
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Re: DCU secured or BoA secured


jbrown773 wrote:

Well I think I should have applied for that to begin with but that was my misjudgement. I had a bofa card charged off to collections a few years back which got paid off would that cause me to be denied it? 


Sorry for the delayed response 

How many TL's do you have now?

INQ's?

Another option https://www.sdfcu.org/

Won't graduate but doesn't require a HP either 

The only ding you would see is when it reports to CR's as a new account and maybe a better option than BofA which will ding from a new INQ and account?

As far as a BofA approval odds after bad history with them hard to say and the only way to know is take a chance and apply.....

Some lenders have long memory like Amex, Chase not sure about BofA YMMV 

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Contributor
Posts: 159
Registered: ‎09-14-2013
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Re: DCU secured or BoA secured

Well I have 6 Inq's I went on a semi app spree to had more TL to my acount seeing I only had 1 credit card pior to this month, now I have 4 or 5 if I'm counting DCU which I havent opened yet. So I'm sure any CR ran now would show all my dings and idk if its better to wait 3 months or just try for it now.


Starting Score: EQ FICO 582, TU 614, EX 528 9/13
Current Score: EQ FICO 648, TU 678, EX 663
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Senior Contributor
Posts: 27,589
Registered: ‎02-07-2013
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Re: DCU secured or BoA secured


jbrown773 wrote:

Well I have 6 Inq's I went on a semi app spree to had more TL to my acount seeing I only had 1 credit card pior to this month, now I have 4 or 5 if I'm counting DCU which I havent opened yet. So I'm sure any CR ran now would show all my dings and idk if its better to wait 3 months or just try for it now.


With 4-5 TL's your good to go .....Yay

No use in creating more HP's or scoring dings at this time 

Use the cards you have keeping UTL between 1-9% on one card and pay all others in full and IMO you will see results after the new TL ding wear off

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Contributor
Posts: 159
Registered: ‎09-14-2013
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Re: DCU secured or BoA secured

Thats what I thought, But I kind of wanted to add a US Bank secured bank card to that so the time I use now will benefit it to graduate. I also have a gold checking account with them and it will make that free.. but I dont know if I will get approved now after all the other inq's


Starting Score: EQ FICO 582, TU 614, EX 528 9/13
Current Score: EQ FICO 648, TU 678, EX 663
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Member
Posts: 14
Registered: ‎09-27-2013
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Re: DCU secured or BoA secured

I like boa personally, I called and graduated to unsecured in less then 6 months
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