Secured Card Advice

For just about anything you want to get off your chest about credit cards.
USADR
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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?


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CarefulBuilder14
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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?
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech

USADR
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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
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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
Wallet: Chase Freedom, Discover IT
Chopping Block: Synchrony
Future: TBD

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CarefulBuilder14
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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.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech

Kevin86475391
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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
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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
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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.

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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

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CarefulBuilder14
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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.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech



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