topic Re: Secured credit card question in Credit Cards

Secured credit card question

ngerasimatos — Thu, 13 Mar 2008 07:09:57 GMT

I remember in the past there were companies that offered secured credit cards and they matched the amount you deposited by 1.5%

Does anyone know of any of these?

Re: Secured credit card question

ngerasimatos — Thu, 13 Mar 2008 22:44:28 GMT

No one?

Re: Secured credit card question

haulingthescoreup — Fri, 14 Mar 2008 00:52:11 GMT

I've never seen that exact proportion. What might come close is the BofA partially secured card, which we call the 99/500 around here. You can't apply for it; it's counter-offered if you apply for the Plat Visa, and don't qualify, but you're better than what they want for the straight secured. It's a $99 deposit for a $500 CL.

Never heard of the other. I guess it has been trampled in the dust by now.

Re: Secured credit card question

ngerasimatos — Fri, 14 Mar 2008 00:54:04 GMT

Sterling Bank & Trust Secured Card used to offer it

http://www99.epinions.com/finc-Credit-Cards-Secured-Sterling_Bank___Trust_Secured_Card/display_~reviews

Re: Secured credit card question

nicemann — Fri, 14 Mar 2008 01:28:48 GMT

I started rebuilding my credit with Bank of America. I gave a $300 and they gave me a $500 CL. That was about two and a half years ago. After a year they refunded the $300 and they increased me to a $1000 CL. About 6 months ago I was approved for $5000 CL on the account. Was well worth it for me. That $300 turned into a $5000 unsecured Visa.

Message Edited by nicemann on 03-13-2008 06:28 PM

Re: Secured credit card question

ngerasimatos — Fri, 14 Mar 2008 01:28:40 GMT

Maybe banks dont do offers like these anymore?

Re: Secured credit card question

haulingthescoreup — Fri, 14 Mar 2008 01:32:25 GMT

Or maybe they don't announce them as a pre-fab product, but they might cook something up with you, as with the PP.

Re: Secured credit card question

dangphuocloc72 — Fri, 14 Mar 2008 01:43:37 GMT

I applied 3 time and they alway turn me down . keeping send me offer 99/500 card , but AF 29 . so I don't want it . any way I don't need any more CC right now . my house they all ready report last 2 day . and Juniper report 2 account ( I don't have cards yet . so funny huh ? ) my score went uup 35 point . lolz .

HAULING.... SAY : Really done credit hunting; time for credit gardening. THAT RIGHT .

Message Edited by dangphuocloc72 on 03-13-2008 06:43 PM

Re: Secured credit card question

Anonymous — Fri, 14 Mar 2008 02:41:20 GMT

Anyone knows if the same thing will happen if you're on a temporary visa? On BoA website they allow to apply online for a CC only to GC-holders and USC. My 99/500 is about to graduate, so I talked to CSR, and she told me that 99/500 is the ONLY thing they offer to nonimmigrants regardless of their FICO.

With other banks it's not an issue at all.

@nicemann wrote:
I started rebuilding my credit with Bank of America. I gave a $300 and they gave me a $500 CL. That was about two and a half years ago. After a year they refunded the $300 and they increased me to a $1000 CL. About 6 months ago I was approved for $5000 CL on the account. Was well worth it for me. That $300 turned into a $5000 unsecured Visa.

Message Edited by nicemann on 03-13-2008 06:28 PM

Re: Secured credit card question

nicemann — Fri, 14 Mar 2008 04:04:05 GMT

Hashish wrote: Anyone knows if the same thing will happen if you're on a temporary visa? On BoA website they allow to apply online for a CC only to GC-holders and USC. My 99/500 is about to graduate, so I talked to CSR, and she told me that 99/500 is the ONLY thing they offer to nonimmigrants regardless of their FICO. With other banks it's not an issue at all. Sorry not for sure on BoA's policy on that. I know they took some heat not too long ago because they allowed more people without SSNs to apply.