topic Re: Secured Card Approval Stats in Rebuilding Your Credit

Secured Card Approval Stats

Anonymous — Sat, 27 Oct 2018 01:21:47 GMT

Couldn’t find a thread, so starting one for general stats and approvals. It seems rebuilders are hunting for info.

One day app spree:

CapOne - $500 SL

Citi - $400 SL

First Progress - $500 SL

First Premier - $200 SL

TU & EQ: 500 FAKO

EX: 490 FICO

5 open collections

Re: Secured Card Approval Stats

spiritcraft1 — Sat, 27 Oct 2018 13:46:48 GMT

Let's keep this thread going!

Discover IT Secured Approved 10-18 $1,000.00

546 FICO Pulled EX

(3) collections, (8) 4.5 year old CO's

NFCU nRewards Approved 9-16 $1,000.00

480 FICO 09, Pulled EQ

(3) collections, (8) 2.5 year old CO's

Re: Secured Card Approval Stats

19eighty5 — Sun, 28 Oct 2018 15:34:26 GMT

Congratulations on your approvals!

Re: Secured Card Approval Stats

biglista88 — Sun, 28 Oct 2018 20:19:41 GMT

Citi secured instant approved on 10/18, 300$SL pulled EX506 FICO. US bank secured apped on 10/06 , pulled TU 494 FICO, given 7-10 day message. Funds withdrawn from account on 10/16. Official approval for US bank skypass secured 300$SL10/22. 4 open collections currently and 2-1/2 years post chapter 7.

Re: Secured Card Approval Stats

spiritcraft1 — Sun, 28 Oct 2018 20:43:20 GMT

This denial might save someone a hard pull in the future

Denied 9-2018:

Corporate American Family CU Secured Card

579 TU FICO, Hard Pull

Stated that I would need to clear up all derogs first. I would be in the upper 700s at that point.

This taught me to call first and ask about requirements! Useless for rebuilders, do not waste a HP.

Re: Secured Card Approval Stats

calyx — Thu, 13 Dec 2018 19:45:35 GMT

Opensky Approved $500 6/30/2018

No pull

4 collections
I chose Opensky because I had been straight up declined or not-preapproved for other secureds (Cap1, Disco, etc).

US Bank Approved $500 8/8/2018

583 EQ/586 TU FAKO - Pulled EQ

3 collections

Citi App'd 9/6/2018 approved 10/3/2018 $1000

FICO: 610 EX/657 EQ/607 TU, Pulled EQ and EX

2 -120 late; 0 collections

Discover It - 9/28/2018 SL: $1400

FICO: 652 EX/655 EQ/640 TU; Pulled EQ

2 -120 late; 0 collections

Went to apply for secured for my third card but the prequal site gave me unsecured (huzzah!)

Citi was weird - I have a fraud alert on my file (one of the previous collections I had taken off was a fraudulent account), so they called and left a code for me to call them back with to verify my identity. When I called back to give them the code, they told me I was denied. My denial letter stated failure to verify my identity. I called them back to ask what they needed since the code wasn't enough. They asked for the code again (thank goodness for journaling!) and said I was approved. Got the email with approval, instructions on funding the secured account and was good to go after that.

Re: Secured Card Approval Stats

Anonymous — Tue, 30 Oct 2018 17:16:35 GMT

@calyx wrote:
US Bank Approved $500 8/8/2018
583 EQ/586 TU FAKO - Pulled EQ
3 collections

Citi App'd 9/6/2018 approved 10/3/2018 $1000
FICO: 610 EX/657 EQ/607 TU, Pulled EQ and EX
2 -120 late; 0 collections

Discover It - 9/28/2018 SL: $1400
FICO: 652 EX/655 EQ/640 TU; Pulled EQ
2 -120 late; 0 collections
Went to apply for secured for my third card but the prequal site gave me unsecured (huzzah!)

Citi was weird - I have a fraud alert on my file (one of the previous collections I had taken off was a fraudulent account), so they called and left a code for me to call them back with to verify my identity. When I called back to give them the code, they told me I was denied. My denial letter stated failure to verify my identity. I called them back to ask what they needed since the code wasn't enough. They asked for the code again (thank goodness for journaling!) and said I was approved. Got the email with approval, instructions on funding the secured account and was good to go after that.

Your score jumps are beautiful. Fingers crossed for that kind of magic.

Re: Secured Card Approval Stats

calyx — Tue, 30 Oct 2018 17:38:32 GMT

Thanks! It's a testament to going through your report with a fine toothed comb. I'm fortunate enough to make enough money to pay cash for things (post divorce my credit took a hit and I just gave up on it), but unfortunate enough to not have realized til now that I really needed to rebuild a credit profile. Now for the slow march to better scores and cards

Re: Secured Card Approval Stats

spiritcraft1 — Wed, 28 Nov 2018 17:59:08 GMT

Wife was just approved for a $1,000 FNBO Secured Card. Applied Friday, and received an email today stating card would arrive in 7-10 days. Money has not beeen taken as yet. Six days total for approval.

Data Points

Pulled EX Immediately: 570 FICO 08

3 Collections, one newer two 2.5 years old. ( each 2.5k to 4.5k)

6 charge offs, 4.75 years old.

2 years of on time payments on NFCU Secured Card and new paid down to 8% SSL

Re: Secured Card Approval Stats

Anonymous — Wed, 28 Nov 2018 18:34:01 GMT

10/20/18 approved for Credit One unsecured with $300 limit, Fico8 scores at the time were EX 541 / TU 490 / EQ 555.

11/16/18 was approved for Discover secured $200 limit, they pulled EX score 575.

I was discharged from ch 7 bk on 10/12/18.

Re: Secured Card Approval Stats

NeverGivinUp — Thu, 29 Nov 2018 03:57:59 GMT

At the end of August (90 days ago) my Husband & I started with appr. Scores - HUSBAND mid 500's / ME low 500's. Since then:

Husband:

Capital One Unsec. $300

Disco Secured $200

Wells Fargo Secured $300

Credit One $300

Fingerhut SL $230 (Fresh Start) / Current $400

Conn's (Approved $5200) / Purch. $1900 (0% 12 mo.)

Overstock $550

Wayfair $550

Kohl's $300

Ashley Furniture (Genesis) (Approved $3000 / Purch. $2400 (0% 6 mo.)

Me:

Capital One Secured $200

Disco Secured $200

Credit One $500

Overstock $2000

Wayfair $1500

Fingerhut SL $300 / Current $400

Current Scores (Fico):

Husband Mid 600's

Me Low 600's

Re: Secured Card Approval Stats

Anonymous — Thu, 29 Nov 2018 21:50:05 GMT

LOL, I am glad I found this thread!

I just started rebuilding. I have one 90-day late that is VERY recent, so I think that is the culprit for my current Credit Leper status.

FICO averages at mid-500s. High utilization (the total balance is now down by a lot, but reports don't show that yet). One or zero cards open (BofA closed mine) depending on the report. Settlement with bank for less than agreed amount (not yet on reports).

In the last few weeks, I have applied or done pre-approval on these cards:

Capital One Secured: DENIED (hard pull on all three, EX, EQ, TU)

Walmart Store card: DENIED (hard pull TU)

Kohl's Store Card: "7-10 days" (hard pull TU)

Discover Secured: Preapproval says HELL NO

Citi: Preapproval HELL NO

US BANK: LOL NO to preapproval

Merrick bank: LOL NO to preapproval

Credit One: LOL, we'll take anyone but we won't take you (preapproval).

I have a feeling this will change in approximately 3-6 months when my 90-day late ages some more, and when the drastic lowering of my debt has been properly recorded on all three FICO scores.

However:

Green Dot Platinum Secured: OPEN ARMS, Welcome, welcome! (And so far, I like them. The card arrived in about five days and setup was easy, no problems so far.) No hard pull anywhere.

Re: Secured Card Approval Stats

spiritcraft1 — Thu, 13 Dec 2018 17:25:24 GMT

Apple Federal Credit Union Credit Builder Secured Card. Seems to be an easy approval, unsecured card requires a FICO of 580. I went for the certain $2k secured card even though I may have gotten a smaller unsecured line. They do not graduate but do keep your history when you product change later (another app and HP). They seem like a quality CU that values the individual and history with them as much as FICO scores. Soft pull to join.

Approved over the phone, approved in an hour

Hard Pull TU FICO 08 - 597

NFCU GoRewards and Discover Secured Reporting along with 8% NFCU SSL

2 INQ's - 0% UTIL

4 Collections, 4 YO, several CO's 4.75 YO

Re: Secured Card Approval Stats

biglista88 — Thu, 13 Dec 2018 21:19:24 GMT

Greendot primor gold secured data points. Applied 12/6 and was approved for up to 5k with no hard pull. No credit check at all, (which is why I chose this card). I funded my secured account via debit card for $500. Card recieved today,( Six days later). Card has a fixed 9.99%APR and $50 annual fee. Funds can be added at anytime to increase the credit limit instantly.

The card was also reported to the bureaus today as well. All in all , a no frills rebuilder card that won’t ever graduate. However there’s no credit check, guaranteed approval and reports quickly to all 3 bureaus. Credit limit can also be increased instantly at anytime.

Re: Secured Card Approval Stats

Anonymous — Wed, 09 Jan 2019 23:53:09 GMT

USAA Secured- $400 (pulled EQ:499 7/2017)
- will close in 6 months once new accounts age due to USAA does not graduate.
Cap One- $200 (pulled EQ/TU: 639/598 1/2019)
Disco- $200 (pulled EX: 575/SP TU:598 1/2019)
NFCU- $500 ( will apply on 1/10/2019)
- will update then.

2 COs and 3 Collections. Currently working on. One being PRA that deletes after PIF.
Hopes this helps someone.