CU Secured Card

[ruscorp]

I am almost 2 months post Chapter 7.

 

I'm trying to reestablish some credit. I'm benefiting from being an authorized user on my wife's 2 cc's. She was not included in the BK.

 

Any suggestions on the best secure card?

 

I can't find a CU around me that offer's one (besides the one I included in my BK),

[hrguy]

State Dept FCU

Digital FCU

Navy FCU

GTE FCU

[ruscorp]

State Dept FCU

Digital FCU

Navy FCU

GTE FCU

 

Thanks for the reply.

 

State Dept FCU and Digital FCU don't offer Secure Credit Cards. Nice terms and fees though.

 

I looked at Navy, but I am not eligible.

 

GTE looks good, but I need to do some more research on them.

[RetiredinNY]

 

State Dept FCU

Digital FCU

Navy FCU

GTE FCU

 

Thanks for the reply.

 

State Dept FCU and Digital FCU don't offer Secure Credit Cards. Nice terms and fees though.

 

I looked at Navy, but I am not eligible.

 

GTE looks good, but I need to do some more research on them.

 

SDFCU most certainly DOES offer secured cards.

I opened one with them in February 2013.

[ruscorp]

I see now. You just have a card with them?

 

I missed it. https://www.sdfcu.org/CreditCards

Edited June 20, 2013 by ruscorp

[mendelssohn]

 

 

State Dept FCU

Digital FCU

Navy FCU

GTE FCU

Thanks for the reply.

 

State Dept FCU and Digital FCU don't offer Secure Credit Cards. Nice terms and fees though.

Yes they do. I have secured cards from both.

[RetiredinNY]

I see now. You just have a card with them?

 

I missed it. https://www.sdfcu.org/CreditCards

Just the card. I joined (on-line), funded the share account and then applied over the phone for the secured card. No hard pull, all the necessary forms were handled VIA email.

[ruscorp]

 

I see now. You just have a card with them?

 

I missed it. https://www.sdfcu.org/CreditCards

Just the card. I joined (on-line), funded the share account and then applied over the phone for the secured card. No hard pull, all the necessary forms were handled VIA email.

 

So the $250 min, gets you are $250 credit line, correct?

[RetiredinNY]

 

 

I see now. You just have a card with them?

 

I missed it. https://www.sdfcu.org/CreditCards

Just the card. I joined (on-line), funded the share account and then applied over the phone for the secured card. No hard pull, all the necessary forms were handled VIA email.

 

So the $250 min, gets you are $250 credit line, correct?

I would presume so. I funded my account with 5,000 and got a 5,000 credit line.

[ruscorp]

I'll have to compare State Dept with GTE and see who has the overall better banking services.

 

No fee checking, Surcharge free atm network, etc.

[mendelssohn]

I'll have to compare State Dept with GTE and see who has the overall better banking services.

 

No fee checking, Surcharge free atm network, etc.

If you have a 580+ EQ FICO, you should join DCU for the free monthly score. Also, the DCU card graduates to an unsecured card. SDFCU does not.

[hrguy]

They are very comparable SDFCU and GTE IMO as far as offerings.

[ruscorp]

DCU requires a credit check for the secure card?

[305_sigma]

 

I'll have to compare State Dept with GTE and see who has the overall better banking services.

 

No fee checking, Surcharge free atm network, etc.

If you have a 580+ EQ FICO, you should join DCU for the free monthly score. Also, the DCU card graduates to an unsecured card. SDFCU does not.

I'm almost there to that 580 currently at a 578 on my EQ. That may likely change if a can get a few of these CA accounts removed.

[mendelssohn]

DCU requires a credit check for the secure card?

Yes. My score was in the low 580s when I applied and was accepted. 580 on EQ is the minimum to join DCU as well.

Edited June 20, 2013 by mendelssohn

[ruscorp]

 

DCU requires a credit check for the secure card?

Yes

Thanks.

 

So you need a If 580+ EQ FICO to qualify for the free monthly score

[mendelssohn]

 

 

DCU requires a credit check for the secure card?

Yes

Thanks.

 

So you need a If 580+ EQ FICO to qualify for the free monthly score

You need a 580+ EQ FICO just to qualify for membership.

[ruscorp]

OK, so I'm assuming they conduct a hard pull upon applying for membership and not to bother if your reports are frozen.

[mendelssohn]

OK, so I'm assuming they conduct a hard pull upon applying for membership and not to bother if your reports are frozen.

Yes, there is a hard pull for membership and they did another hard pull when I applied for the secured CC. Most on here seem to have experienced the same thing, multiple pulls. If you want to apply for membership, you could unfreeze or give them the PIN I guess. If you go with SDFCU, there is no pull for membership to open savings or for the secured card. The downside is that the card does not graduate, and only DCU will give you the free EQ FICO. SDFCU is a great credit union though.

[305_sigma]

 

OK, so I'm assuming they conduct a hard pull upon applying for membership and not to bother if your reports are frozen.

Yes, there is a hard pull for membership and they did another hard pull when I applied for the secured CC. Most on here seem to have experienced the same thing, multiple pulls. If you want to apply for membership, you could unfreeze or give them the PIN I guess. If you go with SDFCU, there is no pull for membership to open savings or for the secured card. The downside is that the card does not graduate, and only DCU will give you the free EQ FICO. SDFCU is a great credit union though.

So is it fair to insinuate that you will be approved for the secured CC if you have that 580 score plus get the equifax membership?

[mendelssohn]

 

 

OK, so I'm assuming they conduct a hard pull upon applying for membership and not to bother if your reports are frozen.

Yes, there is a hard pull for membership and they did another hard pull when I applied for the secured CC. Most on here seem to have experienced the same thing, multiple pulls. If you want to apply for membership, you could unfreeze or give them the PIN I guess. If you go with SDFCU, there is no pull for membership to open savings or for the secured card. The downside is that the card does not graduate, and only DCU will give you the free EQ FICO. SDFCU is a great credit union though.

So is it fair to insinuate that you will be approved for the secured CC if you have that 580 score plus get the equifax membership?

Yes, from what the rep told me last year before I joined, I don't see why they wouldn't approve you. I would suggest giving them a call and explaining your personal situation to them regarding your credit if you are worried about approval. I called and asked a LOT of questions before even applying for membership.

[ruscorp]

Is it fair to say most people use DCU as an "internet bank" and do not live near any branches?

[mendelssohn]

Is it fair to say most people use DCU as an "internet bank" and do not live near any branches?

Yes. I've never been in a branch. You can deposit checks by phone camera and you can also deposit funds at certain other credit unions.

[305_sigma]

 

 

 

OK, so I'm assuming they conduct a hard pull upon applying for membership and not to bother if your reports are frozen.

Yes, there is a hard pull for membership and they did another hard pull when I applied for the secured CC. Most on here seem to have experienced the same thing, multiple pulls. If you want to apply for membership, you could unfreeze or give them the PIN I guess. If you go with SDFCU, there is no pull for membership to open savings or for the secured card. The downside is that the card does not graduate, and only DCU will give you the free EQ FICO. SDFCU is a great credit union though.

So is it fair to insinuate that you will be approved for the secured CC if you have that 580 score plus get the equifax membership?

Yes, from what the rep told me last year before I joined, I don't see why they wouldn't approve you. I would suggest giving them a call and explaining your personal situation to them regarding your credit if you are worried about approval. I called and asked a LOT of questions before even applying for membership.

I will call to get some info on that tomorrow. Thanks!

[ruscorp]

DCU min secure credit line is $500. So you must keep $500 in your share at all times.