help from experts regading secured accounts

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help from experts regading secured accounts

Postby dcspride » Wed Sep 26, 2012 9:34 pm

I had 4 credit cards when I was in college. They were all maxed out and I could not keep up with the payments. So I decided to contact the company who helps you lower your payment and got scammed. I lost over $3000 on fees and my bank account got overdrawn from them and I got to the point where I can't even open a bank account.

I wanted to see if I can open a secured credit card so I filled out capital one secured credit card application. I got approved but I need to make $99 deposit which is not a problem. The problem is they want me to make that $99 deposit from my checking account which I do not have(I know it's pretty sad).

So while searching online, I found out that citi bank also has secured credit card but they only accepts the application by mail which I think it's weird. Based on what people said, you have to fill out an application and include money order that equals to credit limit you want. I am little bit skeptical and scared to just mail them the $2000 money order(if I want $2000 limit) along with my application without knowing if everything will get to them okay or not(mail could get lost and it will be hassle to try to collect my money back from money order company).

So what should I do?? Will I be able to just walk into citi bank and apply one??

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Postby Money card » Sun Sep 30, 2012 2:10 am

you can walk into Citibank and talk to a branch mgr this is a great idea. have you looked at an orchard credit card?

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Postby kcarter609 » Sun Sep 30, 2012 6:51 am

I think you should be more worried about getting your relationships with the banks fixed so you can open a checking account. You're going to want it down the line.

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Postby DavidNY » Sun Sep 30, 2012 4:15 pm

BofA offers secured cards with a $500 deposit.

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