Slam Dunk Secured Card

For just about anything you want to get off your chest about credit cards.
6 posts
Obi-dan
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Location: Houston, TX

Slam Dunk Secured Card

Postby Obi-dan » Thu Aug 15, 2013 5:52 pm

I have a co-worker who is trying to rebuild her credit. I have been working with her and felt it was time to get a secured card. I sent her to Capitol One. They rejected her. I know Wells Fargo rejects people from time to time and Chase has stopped doing them. Orchard Bank would approve anybody but they got bought by Cap One. Any suggestions on who she can go to that will approve anyone? Score is in mid 500s.
Cards:
Chase Sapphire Preferred
Marriott Rewards
Citi Hilton
Barclay Arrival
AMEX BCE (member since 95)
Chase Freedom
Discover It
Wells Fargo Platinum
Barclaycard (Apple)
Local Credit Union Visa (buy local!)


FICO Scores:
TU: 824 (Aug 2014)
Experian: 789 (Aug 2014)
Equifax: 807 (Aug 2014)


DavidNY
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Location: New York

Postby DavidNY » Thu Aug 15, 2013 6:45 pm

If no BK, try BofA. Also try your local CUs.

MemberSince99
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Thu Aug 15, 2013 7:29 pm

Credit One and First Premiere. If they won't approve you, very few will.

Also Google the companies that don't do a credit check for a credit card. Obviously you are going to get a lousy card with lousy terms but with that score, that's a given anyway.

kelvSYC
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Location: San Bruno

Postby kelvSYC » Thu Aug 15, 2013 8:06 pm

Interesting that "no questions asked" secured cards are hard to come by in the US, unlike other countries. Still, credit unions should give you nice secured cards, I'd imagine. However, you might not get that ideal $30-ish annual fee for them...
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)

Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD

Obi-dan
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Posts: 190
Joined: Fri Aug 02, 2013 2:35 pm
Location: Houston, TX

Postby Obi-dan » Thu Aug 15, 2013 8:20 pm

Thanks for all the replies. I will pass this info on to her. It is interesting that it is a little difficult even to get a secured card. I worked at a bank in the roaring '90s and we gave credit with our eyes closed.I guess we all know where that leads. I prepped her for a large annual fee.
Cards:
Chase Sapphire Preferred
Marriott Rewards
Citi Hilton
Barclay Arrival
AMEX BCE (member since 95)
Chase Freedom
Discover It
Wells Fargo Platinum
Barclaycard (Apple)
Local Credit Union Visa (buy local!)


FICO Scores:
TU: 824 (Aug 2014)
Experian: 789 (Aug 2014)
Equifax: 807 (Aug 2014)

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Fri Aug 16, 2013 6:40 am

I mean you just have to expect not the best terms when your credit is trashed. Otherwise why bother to even score it.
The sad part is our economy and country is so unstable that bad things can happen to anyone and there really is no safety net for decent people who want to work and contribute to society - it's assumed they will get and have jobs but that's not a given anymore. (And I don't really care what Dr. Goebbels and the media propaganda machine says - it sucks out there. I know from looking. I encourage ANYONE who believes our media's lies to actually go look for a job, your eyes may quickly be opened).



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