Can you get denied for a secured card?

[Justrebuilding]

I also got denied by Bofa for a secured card a few years ago. I burned them in my bk so that might have been why. 

[Sweets8E]

I got denied for a BOA secured and for a Cap1 secured back in 2011. Cap1 I could understand because I had a bad account with them. Even though I'd paid in full, they refused to do business with me. BOA, just denied me outright for not having good enough credit.

What I've found is that it's easier to go to a CU and get a secured card through them. They just seem to be more lenient. I mean there are some that are considerably smaller and more stringent with their selection criteria, but I think a CU would be a better choice. Just my 2 cents.

[nicholasyud]

I been with BOA for a year and half.

Denied for their CC.

Bank customer service ask to join ""secured" CC. Another HP.

TAke out my deposit and call me in couple days said they cant approved for their secured CC even thou the branch manager already confirm.

One year later, they sent me pre-approval letter to join their credit card with no rewards and 20% APR no promotion term even thou i already got my Discover,Amex........I tear their letter so good.....keep the original letter and sent it back to their CC department with letter tear off every single piece........

[Give_Me_Credit_Please]

I'm sure anything is possible depending on the criteria that they have and I strongly believe that it depends on which underwriter that is working on your application. You might have an underwriter that had a very bad day and decided to fine a reason to deny you while you might have a decent underwriter that was in a good mood and wanted to give you a second chance so it varies even though they have guidelines they have to follow but I believe they have the final say. For example you talk to 5 different customer service rep and ask them a specific question, I guarantee all of them will tell you a different answer. That's just my option and experiences.

I recently applied for a Wells Fargo secured card and was approved!! To my surprise, I don't know if it's because I have a checking account with them helps or not but I'm sure it didn't hurt.

[Wolf3]

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@Kartel34 wrote:

It's is possible to get denied for a secured credit card? If you have the funds to secure the account then what risk is the bank taking.

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I got denied for US Bank secured card 3.5 years ago which was my first app in rebuilding.   A few months ago I got a cobranded USBank Visa ($4300).  Rebuilding takes time but it works.

I think a lot of banks decide based on whether they think you will be a good customer in the future.

[Revelate]

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@Kartel34 wrote:

It's is possible to get denied for a secured credit card? If you have the funds to secure the account then what risk is the bank taking.

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Actually there are certain issues on one's credit report (open/unpaid judgements being one such example) where some other entity can legally snatch the deposit.  Suddenly they're left holding the bag on a risky customer with no deposit if that occurs, and rather than tempt fate (since it costs them money to have anyone as a customer) they will often simply deny it outright, though there are lenders who are more conservative than others to be sure.

[CruzImperial]

As crazy as it sounds, pretty much yes and specially if you go with bofa.