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Regarding the PNC secured card.. I went into a PNC branch this week and spoke with the branch manager. You do not need to have a PNC deposit account (checking or savings). She advised that you must provide a cashiers check or money order for the amount of the line that you want to apply for.
@Nola_Bee wrote:Regarding the PNC secured card.. I went into a PNC branch this week and spoke with the branch manager. You do not need to have a PNC deposit account (checking or savings). She advised that you must provide a cashiers check or money order for the amount of the line that you want to apply for.
You must go to the branch to apply for the card also. I have banked with PNC for a very long time and they are a great bank!
I did consider them when I started rebuilding, but instead got a Merrick Bank secured card. They were great too. All the way to the end they were great. Only problem that I did not like is that they don't grow with customers! You never get your security funds back unless you close the card. You can't get your AF waived, which gets billed monthly. I would like to have kept that card in my signature, but alas the security funds and the AF did away with the card! I had almost 6 years of history to it! However, with the other cards which are in my signature now I don't need to worry about it.
I am actually happy that I did not get the PNC secured card now! I might not have gotten the Signature Card with them that I recently got! The card might not have built itself up enough to that in time that I would have had the card. Just something else to think about before getting a card from someone you bank with! They might classify you as a different type of customer or it might prevent something better in the future. I can't say for certain that in my situation it would have prevented what I have now or not, but I do know they have some requirements which do prevent some people from getting cards. Some of these requirements can be time based. Your BK might prevent you for a certain period of time. For others it might be the last default you have.
PNC doesn't advertise this card, not that I know of anyway. If they do it has been a recent strategy. So I think they are a bit conservative on their cards. I know their regular cards are a bit conservative. (I don't mean Capital One conservative, ha ha. If you know what I mean!) I also think how they treat you is dependent on how much money you have in their bank. I should not have been approved for a Signature card from them with all the inquiries I had at the time and new accounts. I did have a fair bit of money in my account with them so I think that was a factor in approving me and upgrading me to the Signature card!
@Nola_Bee wrote:Regarding the PNC secured card.. I went into a PNC branch this week and spoke with the branch manager. You do not need to have a PNC deposit account (checking or savings). She advised that you must provide a cashiers check or money order for the amount of the line that you want to apply for.
Thanks NOLA BEE. I have updated the list to indicate that information. I looked online and did not even see it advertised but i know its popular amoung credit builders. The only info I found online about requiring a PNC account was a credit building site from money.com. So the information must have changed.
Goosedog,
Thanks for this, I was just asking for this..
May your credit score continue to prosper :-)
I dont remember what my score was 1.5 years ago when I got the card but it was not anywhere near 515, it was less and I had just had a CO from Cap One in 2009, but both my husband and I only have to put down 49 for 200. Capital One gave us unsecured increases from there.
Thanks for compiling the list! I just wanted to add that BofA can add the Cash Rewards feature to the secured card, making it earn 1%, 2%, or 3% cash back depending on the category of purchase. And the card reliably graduates within 12 months, in some cases as early as 6 months, as long as the balance is always paid in full.
I am not sure the armed forces would qualify as a secured card since you are required to be a member or relative of a member in the military directly. It's not like the NFCU where you can get in if for example you are friends with someone in the military and live in the same household.
The card isn't open to the general public to apply like CAP1 or USA OR BOA for example.
I added another card to the list. The 5th 3rd bank secured mastercard. One of the benefits of the card is free emergency roadside assistance.
I thought the maximum for Citibank was $5000. Did they raise it to $10,000?