The Master Secured Credit Cards Thread

[pwd847]

Nobody likes them. Ask around. People just aren't as vocal about it as they are with other Banks.

[IvyMgmt]

Nobody likes them. Ask around. People just aren't as vocal about it as they are with other Banks.

Oh wow duly noted. Well hopefully this Discover will help. My score already jumped 100 points with some toy cards I added. I know I'm on my way.

 

 

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[pacemaker67]

This one was noted in the state by state CU listings earlier in this thread.

 

Corporate America Family Credit Union Share Secured Visa

 

Just wondering if anyone has this card and if so, any details.

[motivatedmother]

Declined for the secured card...well that was fun.while it lasted. Says I'll get a letter in 5-7 days.

I am new here. Been a lurker doing reading and feel soooooo overwhelmed so first off if anyone has advise on how to actually really get a pattern started on instead of jumping all over the place from different threads and topics I would appreciate it.

 

Second.....How can you get denied for a secured card? I thought that a secured card was a given. I was going to be going to apply for a secured card in January as I just started work this week after finally getting out of a very bad domestic violence relationship and I just entered into a shelter to stay safe two days agos. So once I have $500 I wanted to do a secured card.

 

But I do not understand the denial process on a secured.... Can someone explain why they might deny you?

 

I plan to start a new thread shortly to explain my reports and situation but wanted to ask about this denial....while on my mind. Thanks so much!

 

-MM

[cv91915]

 

Declined for the secured card...well that was fun.while it lasted. Says I'll get a letter in 5-7 days.

 

I am new here. Been a lurker doing reading and feel soooooo overwhelmed so first off if anyone has advise on how to actually really get a pattern started on instead of jumping all over the place from different threads and topics I would appreciate it.

 

Second.....How can you get denied for a secured card? I thought that a secured card was a given. I was going to be going to apply for a secured card in January as I just started work this week after finally getting out of a very bad domestic violence relationship and I just entered into a shelter to stay safe two days agos. So once I have $500 I wanted to do a secured card.

 

But I do not understand the denial process on a secured.... Can someone explain why they might deny you?

 

I plan to start a new thread shortly to explain my reports and situation but wanted to ask about this denial....while on my mind. Thanks so much!

 

-MM

Delinquent accounts are expensive to service, and you are much more likely to have a delinquent account if you've had previous credit problems.

 

If there is a low probability of an applicant becoming a profitable customer, the odds of approval are small. No one is in business to lose money.

[cv91915]

🉐

[pacemaker67]

On 10/17/2017 at 6:47 PM, sgleich said:

This one was noted in the state by state CU listings earlier in this thread.

 

Corporate America Family Credit Union Share Secured Visa

 

Just wondering if anyone has this card and if so, any details.

Well, tried this one finally after having a NFCU @ 5k for a year.  Denied for secured.  They said that they do not issue them if there are any CC delinquencies in your report.  Hard pull.  They offered a secured loan but I told them to stick it... politely of course.

[pacemaker67]

On 9/5/2018 at 11:23 AM, sgleich said:

Well, tried this one finally after having a NFCU @ 5k for a year.  Denied for secured.  They said that they do not issue them if there are any CC delinquencies in your report.  Hard pull.  They offered a secured loan but I told them to stick it... politely of course. 

Just to add some data to this post in case anyone wanted to try their luck.  I just realized that they pulled a hard for me upon joining last year and pulled again for the secured card. They were TU pulls.  Upon one last follow up, the loan officer stated that they look for low 700's FICO for the secured card or a blank score.  With a follow up question, I found that they look for about the same score for their unsecured version.  Too bad, it looked like a good low rate option with rewards but at a 700 FICO, I will not be scrounging around for oddball CU secured cards.  Closing this account.

[new to Fico and Fako]

On 8/1/2015 at 1:15 AM, new to Fico and Fako said:

looked really good until I saw this:

Please visit any Banco do Brasil Americas branch to apply for our Secured Cards, you may find the list of our branches

I am like the best at researching contact info. the customer service here is non exsistent.

has ANYONE been able to open an account without  visiting the branch???

if so how?

does anyone have any contact info for this bank? 

 

[Kat58]

37 minutes ago, new to Fico and Fako said:

I am like the best at researching contact info. the customer service here is non exsistent.

has ANYONE been able to open an account without  visiting the branch???

if so how?

does anyone have any contact info for this bank? 

 

Why are you so obsessed with dis banco?

 

[hegemony]

does anyone have time to update this in list format?

[pwd847]

Chime Secured Card

1 ) Open a free Chime Spending Account

        NOTE: used to handled by Bancorp Bank which caused issues in transferring money too/from other banks.  Not sure if this is still an issue.

2 ) Go in app and read about the Chime secured card that reports to CB's.

        NOTE: I have a link to join a waiting list, however my g/f was able to order the CC on-the-spot.  She is grandfathered into the Bancorp Bank version of Chime.  I am on the other bank (forgot the name).

3 ) After reading about the card (with no interest, and has APY on your deposit), sign up for it or join the waiting list.

4 ) I don't think there is a credit pull, but don't hold me to that.

 

This is probably the best "non-rewards secured card" on the planet.

Edited October 1, 2020 by pwd847

[hegemony]

2 hours ago, pwd847 said:

Chime Secured Card

1 ) Open a free Chime Spending Account

        NOTE: used to handled by Bancorp Bank which caused issues in transferring money too/from other banks.  Not sure if this is still an issue.

2 ) Go in app and read about the Chime secured card that reports to CB's.

        NOTE: I have a link to join a waiting list, however my g/f was able to order the CC on-the-spot.  She is grandfathered into the Bancorp Bank version of Chime.  I am on the other bank (forgot the name).

3 ) After reading about the card (with no interest, and has APY on your deposit), sign up for it or join the waiting list.

4 ) I don't think there is a credit pull, but don't hold me to that.

 

This is probably the best "non-rewards secured card" on the planet.

https://creditboards.com/forums/index.php?/topic/623311-chime-bank-and-how-they-robbed-me-without-a-gun-run-for-the-hills/&tab=comments#comment-5817297

[pwd847]

On 10/1/2020 at 8:15 AM, hegemony said:

https://creditboards.com/forums/index.php?/topic/623311-chime-bank-and-how-they-robbed-me-without-a-gun-run-for-the-hills/&tab=comments#comment-5817297

Due to this post, and the research the OP has done on the topic, I would suggest keeping small dollar amounts in the Chime spending/secured account.

[pacemaker67]

NFCU continues to be the best option for those who can get in

Discover is nailing people for Tax Returns for a $200 secured card.  (they suck)

PSECU has a good one, you have to call for a paper app.

FNBO has an excellent secured card for those who are in their foot print.  They also offer it through their network...  small banks nationally.  It graduates as well.

 

Good Oddballs are Affinity FCU and Apple FCU

 

Many local and national CU's have secured cards.

[hegemony]

1 hour ago, pacemaker67 said:

NFCU continues to be the best option for those who can get in

Discover is nailing people for Tax Returns for a $200 secured card.  (they suck)

PSECU has a good one, you have to call for a paper app.

FNBO has an excellent secured card for those who are in their foot print.  They also offer it through their network...  small banks nationally.  It graduates as well.

 

Good Oddballs are Affinity FCU and Apple FCU

 

Many local and national CU's have secured cards.

SDFCU too

[cv91915]

On 10/5/2020 at 9:04 AM, pacemaker67 said:

Discover is nailing people for Tax Returns for a $200 secured card.  (they suck)

 

[bravesfan]

Is DCU a good Secured Card option?

[hegemony]

2 hours ago, bravesfan said:

Is DCU a good Secured Card option?

In general I would say yes but DCU can be quirky and I don't recall what the deal breakers are for DCU when it comes to credit reports.