Secured cards rejected

[susieqj]

I am so grateful for all the information here.

I am back again trying to establish a positive credit profile and thought that I would apply for a secured card from discover and Citi bank and they both rejected me.  

The reason for Citi bank was that they were included in a bankruptcy which I filed more than 17 years ago.  The reason for Discover was too many late payments.  

Brief summary of my credit profile: student loans are back in deferment, about 3 collections 2 is being disputed), 1 judgment that will be paid off in May, 4 Tax Liens that I disputed (Experian already removed them) waiting for Transunion and Equifax to delete. Credit cards: Cap 1 quick silver master card $500 current and no longer being reported as late.

I just opened a Cap 1 secured card $200.00 and a Cap 1 Platinum $500.00 they are not being reported as of yet and Fingerhut fresh start. I plan to use my credit card only to pay Netflix, Hulu and internet.  

My Fico 3B Scores are as follow: Inquires 7 with a 10 year credit history reporting.

Feb 8th Eq 481

Ex 474

Trans: 470

Present scores: are Eq 564, Trans 570 and Eq 595 work in progress.

[ojefferyo]

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@susieqj wrote:

I am so grateful for all the information here.

I am back again trying to establish a positive credit profile and thought that I would apply for a secured card from discover and Citi bank and they both rejected me.  

The reason for Citi bank was that they were included in a bankruptcy which I filed more than 17 years ago.  The reason for Discover was too many late payments.  

Brief summary of my credit profile: student loans are back in deferment, about 3 collections 2 is being disputed), 1 judgment that will be paid off in May, 4 Tax Liens that I disputed (Experian already removed them) waiting for Transunion and Equifax to delete. Credit cards: Cap 1 quick silver master card $500 current and no longer being reported as late.

I just opened a Cap 1 secured card $200.00 and a Cap 1 Platinum $500.00 they are not being reported as of yet and Fingerhut fresh start. I plan to use my credit card only to pay Netflix, Hulu and internet.  

My Fico 3B Scores are as follow: Inquires 7 with a 10 year credit history reporting.

Feb 8th Eq 481

Ex 474

Trans: 470

Present scores: are Eq 564, Trans 570 and Eq 595 work in progress.

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What kind of a 10 year history is reporting? 

[susieqj]

@ojefferyo  The history consists of  a chase, target, capital 1 account, a secured bank loan,  jared and kay jewelers accounts all closed with zero balances. 

[ojefferyo]

Are/were they closed on good terms or they have baddies?

[susieqj]

All closed on good terms with zero balances.

[ojefferyo]

How much did you burn Citi for? If it's quite a bit then you most likely will have a hard time getting any cards backed by them. Why is Discover stating that you had too many lates? Did you have a Discover before or they are simply stating what's on your reports. 

[susieqj]

It has been so long and if I am to remember correctly I think it was about $500.00 owed to Citi. I have been banking with Citi for years but just recently stopped due to fraudulent activities on my account.  In regards to Discover I was more than 120 days late with my cap1 quicksilver MC.  I jumped at the opportunity at the end of February when I received an e-mail from Cap1 saying that I can bring my account current. I pretty much paid everything off except for a balance of $5.82 for interest from the prior month.  A few weeks ago I was also approved for Cap 1 Platinum MasterCard $500.00 (credit step) and secured Platinum $200.00.        

[ojefferyo]

I'm going to say it's the tax liens and collections they see.