My account can’t authorize secure fund to Discover! What next?

[Anonymous]

My wife doesn’t have a credit score yet and was approved for secured credit card! Yeay!
Only problem is, I’m having trouble getting the funds over to Discover.

I linked my wife’s new card to my TD Ameritrade investment account since I have cash laying around in there. I was able to verify the micro deposits, but TD told me that Discover will not be able to withdraw any money from that account! That is unless I have Discover’s bank account number and routing number provided to authorize deposits/withdrawals. But I don’t have that information.
I called discover and they haven’t hit that roadblock yet and they said I cannot change my application information.
Will they give me an alternate method to fund the account? Or will they flat out deny the application

[Anonymous]

I suspect they will inform you if they encounter funding problems & ask for a different funding method. This type of access control, while kind of silly, is entirely understandable from a security standpoint given that it's an investment account, liquid or not.

I myself would just call discover back now (great 24/7 US call centers) and ask to change your deposit funding method. If TD is telling you there'll be a problem for discover pulling funds you might as well deal with it proactively.

[Anonymous]

Thank you for a prompt reply! I already called Discover and the man I was speaking to said that the application is in frozen state as it is approved and going through its normal process. I was speaking to a senior account specialist and he was unable to offer any alternatives. Although, No flags yet, but unable to change anything. I wanted to be proactive about it to prevent a decline, but I suppose I will have to wait. I really hope they offer an alternative funding method. Any other options? Should I call again on Monday?

[Anonymous]

You're very welcome, my restless adhd insomnia is your gain!

Calling on Monday when they're open for normal business (can get reps 24/7 but people processing and underwritting are strictly mon-fri) to talk to someone again certainly wouldn't hurt. I still feel confident disco will ask you to verify router&account numbers or provide a different source of funding if TD declines ACH pull requests from disco as they told you they would. Other than checking one more time and then waiting for results if the reps can't help you I don't know what other avenues you could take at this point. Dont fret too much, I feel like its got a good shot.

[Anonymous]

Yea I’m not going too crazy over it. My credit is good but I want my wife to start building a credit history. I will call on Monday and keep everyone here updated on what happens next and the final result. Other than that, if they do happen to just decline the card, she could always apply for Cap One Sec card

[Anonymous]

If they do decline her based on the funding not going through I don't think that would exclude her being able to reapply & use a regular checking account or even mail a check to fund the card.

I would also recommend looking into whatever banks and or credit unions you have accounts with to see if they offer a secured card. Since you just need something to report and build history there's no rule saying it has to be opened online. Many major banks and practically every credit union offers a secured card. In fact I think I've yet to see a union that didn't offer one.

I used Wells Fargo secured card at the very beginning of my rebuild as I already banked with them and could walk in to open & fund card on the spot from my checking. If I recall correctly they offered secured card without any fees with deposits ranging from $200-$10k. Mine got an auto cli at 6 months without requiring additional deposit & was graduated at one year.