Secured Card Advice

For just about anything you want to get off your chest about credit cards.
USADR
Green Member
Green Member
 
Posts: 20
Joined: Mon Oct 12, 2015 4:33 pm

Re: Secured Card Advice

Postby USADR » Tue Oct 13, 2015 7:28 pm

Jon, My debt to incomes more of what I am afraid of. And if these credit cards you mention that would be a negative mark against me. Am I thinking straight?


User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3747
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Secured Card Advice

Postby CarefulBuilder14 » Tue Oct 13, 2015 7:35 pm

USADR wrote:Jon, My debt to incomes more of what I am afraid of. And if these credit cards you mention that would be a negative mark against me. Am I thinking straight?

How much debt, and how much income? How much remains on the car loan, and any other accounts?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

USADR
Green Member
Green Member
 
Posts: 20
Joined: Mon Oct 12, 2015 4:33 pm

Re: Secured Card Advice

Postby USADR » Tue Oct 13, 2015 7:42 pm

CarefulBuilder14 wrote:
USADR wrote:Jon, My debt to incomes more of what I am afraid of. And if these credit cards you mention that would be a negative mark against me. Am I thinking straight?

How much debt, and how much income? How much remains on the car loan, and any other accounts?
Well I went to Barclay and applied for their MC and it advertises instant approval. But......my answer was it would take further review and up to 10 days. Sounds to me like a denial.

JonE
Centurion Member
Centurion Member
 
Posts: 335
Joined: Sat Jan 24, 2015 9:55 am
Location: Denver

Re: Secured Card Advice

Postby JonE » Tue Oct 13, 2015 7:53 pm

USADR wrote:
CarefulBuilder14 wrote:
USADR wrote:Jon, My debt to incomes more of what I am afraid of. And if these credit cards you mention that would be a negative mark against me. Am I thinking straight?

How much debt, and how much income? How much remains on the car loan, and any other accounts?
Well I went to Barclay and applied for their MC and it advertises instant approval. But......my answer was it would take further review and up to 10 days. Sounds to me like a denial.


Barclays is good with recon (someone around here has the number) that you can call to see if you can sway it in your direction. Barclays doesn't like a lot of inquiries or other accounts, but if you use them wisely you can get significant credit increases over time. I wish I had the recon number but I don't.

EDIT: 866-408-4064
Current Cards: Chase Freedom, Discover IT
Future: TBD

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3747
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Secured Card Advice

Postby CarefulBuilder14 » Tue Oct 13, 2015 8:03 pm

It could have passed the credit department, but gotten stuck in the security department. That happened to Sallie for me.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Kevin86475391
Centurion Member
Centurion Member
 
Posts: 237
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: Secured Card Advice

Postby Kevin86475391 » Tue Oct 13, 2015 9:02 pm

Good luck with the recon! Just call and ask if there's any information you can provide to help them in the process. Be confident and candid and I think you have a good chance!

Personally, even if you do get declined by Barclay with a 665 credit score I'd probably also try for an unsecured Capital One Platinum.

USADR
Green Member
Green Member
 
Posts: 20
Joined: Mon Oct 12, 2015 4:33 pm

Re: Secured Card Advice

Postby USADR » Wed Oct 14, 2015 8:20 am

[/quote]

Barclays is good with recon (someone around here has the number) that you can call to see if you can sway it in your direction. Barclays doesn't like a lot of inquiries or other accounts, but if you use them wisely you can get significant credit increases over time. I wish I had the recon number but I don't.

EDIT: 866-408-4064[/quote]Thanks to all and thanks for the phone number. Calling now I will keep ya up to date on what happened

USADR
Green Member
Green Member
 
Posts: 20
Joined: Mon Oct 12, 2015 4:33 pm

Re: Secured Card Advice

Postby USADR » Wed Oct 14, 2015 8:35 am

UPDATE: APPROVED by Barclay. They gave me a $1,000 credit limit. I am taking baby steps. Need schooling on best way to use this limit. I will be reading this forum later after work. My plans are to use it for gas and small items. Thank you guys very much.

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Secured Card Advice

Postby Vermonster » Wed Oct 14, 2015 8:44 am

USADR wrote:UPDATE: APPROVED by Barclay. They gave me a $1,000 credit limit. I am taking baby steps. Need schooling on best way to use this limit. I will be reading this forum later after work. My plans are to use it for gas and small items. Thank you guys very much.


Congrats! That is a nice limit to start with. There is a ton of good information on this site. But always feel free to ask if you can't find what you're looking for.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3747
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Secured Card Advice

Postby CarefulBuilder14 » Wed Oct 14, 2015 10:55 am

USADR wrote:UPDATE: APPROVED by Barclay. They gave me a $1,000 credit limit. I am taking baby steps. Need schooling on best way to use this limit. I will be reading this forum later after work. My plans are to use it for gas and small items. Thank you guys very much.

You got a pretty good card for having mediocre credit, so it definitely beats a secured card.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 1 guest