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Secured Card: Bofa or Wells Fargo?

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Give_Me_Credit_Please
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

I just called today and they said it can take upto 3 day for a decision becasue of the holiday, the person reviewing th application is probly on vacation. She said call back on Wednesday so I'll keep you updated on the decision. Thanks!!

Message 11 of 25
MovingForward_2012
Valued Contributor

Re: Secured Card: Bofa or Wells Fargo?

Good Luck! Crossing fingers for you! Smiley Happy
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 12 of 25
dodgerslv
Valued Contributor

Re: Secured Card: Bofa or Wells Fargo?


@Give_Me_Credit_Please wrote:

I just called today and they said it can take upto 3 day for a decision becasue of the holiday, the person reviewing th application is probly on vacation. She said call back on Wednesday so I'll keep you updated on the decision. Thanks!!


well good luck and let us know!...I like the WF secured card. Like is said, you can always increase the collateral and they do give auto CLI if you keep the card in good standing.

gardening since 5/21/2016
Message 13 of 25
ukimafija
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

In my experience WF sucks cc wise. BOFA CC can graduate into unsecured after some time 6-12 months. WF has weak cc to switch to...why does it has to be a secured card, i never had one?

You are better off appying for Capital One Cash Rewards for Newcomers   or BOFA Cash rewards for students   . Latter on just do a product change and raise the limits...

BOA Cash Rewards Visa Sig. 12K; BOA Travel Rewards Visa Sig 5K, US Bank Cash+ 11.5K, AMEX BCE 6200, AMEX BLUE Sky 7K, Chase Freedom Visa Sig. 5400, Fort Knox FCU Visa Platinum 2500; CAP ONE Cash Rewards WORLD MC 5K

Starting Score: 580
Current Score: 747
Goal Score: 800+


Take the FICO Fitness Challenge
Message 14 of 25
Anf_dude
Contributor

Re: Secured Card: Bofa or Wells Fargo?

I Forced My Dad Into Getting A WF Secured Since That's Who He Banks With. They Always Send Him Little Cards About Almost Graduating on His Statements. Shouldn't Be Too Long, I Hope. He Always Pays In Full. 

Message 15 of 25
Give_Me_Credit_Please
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

Ok, just to keep you guys updated.......What a mess this is, I have bad news and goods news, I called to get statis on my Wells Fargo application, they said it was declined because they tried calling me to verify. Well I had a couple of calls on my phone but was an 800# and didn't answer becasue thought it was solicitor selling newspapaper or something. Rep said that's not a problem and she verified and I've passed so now she reopened for futher processing. So I called today and got the automated answering service so I entered my information for a statis check, it said I was declined again! Reason..........because I ddin't have the funds in my checking account to secure the card!! I could kick myself for that!! I finally talked to a rep in another department and said re-opened it and sent email message to the underwriter explaining to them that it was an honest mistake. I immediately fund my account and so I have to wait again. I think it'll get approved if they went as far as trying to fund the card right? Thanks

Message 16 of 25
HiLine
Blogger

Re: Secured Card: Bofa or Wells Fargo?


@Give_Me_Credit_Please wrote:

I think it'll get approved if they went as far as trying to fund the card right? Thanks


Not necessarily. Usually they would make sure your application satisfies all the prerequisites including funding availability before even processing the application. But I don't see any reason for you to not be approved. Good luck! 

Message 17 of 25
Give_Me_Credit_Please
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

Here's my update!! I called in this morning and was approved!! Even though it's a secured card, just happy that it's a prime card and I can start re-building and hopefully graduate in 12 months. I know alot of people are saying Wells Fargo don't graduate like BofA but I'm gonna try to make sure that I pay off my account if full every month to have a better shot at early graduation. Thanks guys!!

Message 18 of 25
Shogun
Moderator Emeritus

Re: Secured Card: Bofa or Wells Fargo?

Congrats!  Garden that thing well!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 19 of 25
Give_Me_Credit_Please
Regular Contributor

Re: Secured Card: Bofa or Wells Fargo?

Thank you very much!! My first prime card (even though it's secured) and very excited.

Message 20 of 25
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