SDFCU Secured App

[Anonymous]

Just got approved for membership into SDFCU and was curious due to questions on their application. I was looking at the application for the secured card and realized that it is saying you can upload documents now that may be asked for later. Well I am on medical leave from my job and my current income is unemployment and SSI for my son. I do still have my job they just won't work with my pregnancy restrictions and forced me on medical leave. Does anyone have experience with recently applying for the secured card? Did they actually ask for proof etc or is it because it's just a standard app and they may ask for it for other products? Would rather app for it now to use it as part of my rebuild but if they are gonna need a lot of documents I'll wait until I'm back at my regular job. Any insight?

[Red1Blue]

They could ask any thing they want. I have a secured card with them and I got it about 8 months ago. They did not do any credit check or employment verification or ask for payroll verification. All they want is your ID information and deposit in their savings account that they can use it as collataral for deposit. Other than that they should not ask for any thing else. It is a secured card. They do not like asking for frequest credit limit increases by adding additional deposit. Go ahead and deposit what ever the credit limit you want now and finalize it. After 6 months may be you can ask for CLI after 6 months. After 12 months of good payment history your card might become unsecured. Check with them. Congrats on your approval for SDFCU secured card.

[Anonymous]

I'm pretty sure most credit cards, even secured cards, ask for income on the application.  

While I can't say for sure, I do think you would be fine for the secured card. Worst case they might ask for recent tax returns. If anything you can explain the situation on a recon call if denied.

Btw was it a hard pull to join?

Also, at your job medical leave is unpaid? Somehow that doesn't seem right (but I'm not super familiar with leave). 

[bustout]

No hard pull for the secured card if you are a member.

[CreditCrusader]

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@bustout wrote:

No hard pull for the secured card if you are a member.

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...and it appears that they are unconcerned relative to the size of the secured line as long as you meet the $250 minimum.

I called them to get some information on their secured product. The rep told me that someone could put $250,000 in and get a secured card with the same line, but that the card would obviously NOT unsecure in the same fashion.

[Bippy_33]

I have SDFCU secured card and they never asked me for POI.