Contributor
tboy1977
Posts: 221
Registered: ‎07-11-2012
Re: denied wells fargo secured credit card?

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)
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
Re: denied wells fargo secured credit card?

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%.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).