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About LinkBacksI recently pulled my credit report after being declined for an Auto loan 7 months ago and a Best Buy Card 2 months ago. I have 3 accounts in collections $540 COX Cable ( I am returning my cable box and phone modem will be cleared ) $37 Doctor bill ( paying this weekend ) $56 Library bill ( paying this weekend ). In addition to this I am thinking about trying to open a secured credit card with Navy Federal Credit Union and TD Bank.
My questions are do I have a chance of being denied for the secured credit card? With the collections on my credit report going from 3 - 0 is this going to now allow my score to increase? With having the two secured cards reporting to the Bureau would this speed up my "recovery time"?
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Green Member
- Join Date
- Jan 2013
- Location
- DMV
- Posts
- 1
Can I get denied for a secured credit card?
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Centurion Member
- Join Date
- Aug 2012
- Location
- NJ
- Posts
- 416
Yes, you can get denied for a secured card. A friend of mine just recently did because her credit is a disaster.
Yes, getting those collection accounts off of your report will cause it to increase a lot, and having 2 secured cards reporting will help out the rebuilding.
Active Cards:
Chase Freedom 10+10 ($5k Limit - 8/2012)
Chase Sapphire Preferred ($5k Limit - 2/2013)
Discover IT ($5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($5k Limit - 1/2013 - Backdate to 1/2010)
Sock Drawer:
PNC Points Visa ($500 Limit - 7/2009)
Capital One Platinum Mastercard ($750 Limit - 10/2009)
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