I am in the process of rebuilding my credit and have been following all of the advice gleaned from this forum and others alike. I have cleaned up my credit report. (not easy).
I have recently applied for two secured credit cards. One was at Bank of America. Denied. This was for a whopping $ 300.00 credit limit which was to be secured with a $ 300.00 deposit-DENIED.
The second card I applied for was a secured Visa through a local credit union. $ 300.00 limit along with a
$ 300.00 account to secure the card. I also told them I would move my checking and savings to them, which is around $ 11K. They asked me for 2 years tax returns. I said to forget it.
My question. Why would I have to show them my tax returns for a measly $ 300 bucks. Am I missing something here? I thought the deposit account was to cover the card.
Any suggestions on another method to rebuild my credit. My scores are in the 640 ish range now.
Thanks!
