- Platinum Member
- Posts: 88
- Joined: Thu Aug 02, 2012 1:18 am
- Location: Nebraska
This is what we have so far, I recently applied for 3 secured cards, but they are all on the chopping block. After a huge argument which turned into a yelling match, all parties involved have agreed to let the fate of each of these cards be decided here. The cards in question are:
1. Capital One Secured Mastercard
2. US Bank Secured Visa Card
3. Merrick Bank Secured Visa Card
Several months ago I applied for a card that had an application fee, annual fee, monthly maintenance fee and no grace period on purchases with a high interest rate. The idea was to rebuild some credit since I was in the dumpster. My mom had a fit when she found out, sent someone over to help cancel my mistake and helped me apply for the Capital One card. I only had this card for about a month but the $200 credit limit was getting on my nerves so I sent them an extra $600 to bring my limit to $800. I just got this card so my first bill came last week.
Next on the list is the US Bank card, I applied for this card through a local bank branch and I thought the people there were very helpful. It had been a couple of weeks and I hadn't heard anything so I called and it was my understanding I was denied. The other night I went to the ATM and noticed my balance was a bit lower than it should be so I checked my online account when I got home and sure enough, US Bank took the $300 out of my account for the security deposit. Normally this means you've been approved and the card will be sent out soon, but I guess we'll see.
Because I thought I was denied at US Bank I applied for the Merrick Bank Secured Visa card. I've been approved for this card as well.
According to Credit Karma, I took 16 hard pulls in the previous 6 months from gas and department store as well as several major cards that I was denied for. In the last month I took a hard pull from Capital One and Merrick Bank, but it didn't appear US Bank did a hard pull.
The question now comes, should I keep all three cards? Cut one? Cut two? Cut all three? and why? The whole mess started when someone did some searching online and found a whole slug of complaints on Merrick Bank. They went and told my mom who started freeking out and now she thinks I'm incapable of managing my finances so someone needs to come in, take over for me and fix my mistakes for me like I'm 2 years old. I was going to keep the US Bank one a secret, but someone ratted on me and now it all hit the fan. At first she said one credit card and one card only! Now she is saying because of the way I've handled this, they all have to go. I had someone come over and we did some research finding tons of complaints on US Bank and Capital One.
I have until the last 2 cards arrive to decide what to do. I'm going to be using your answers to defend my decisions. If someone here thinks a card needs to go and nobody defends it, it goes, no questions asked. Majority rules.