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JIMFL

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Declined Secured Credit Card
Suggestions anyone. I have a credit score of 650, but I was declined a secured credit card from Merrick Bank even though it was recommended as an option from Credit Karma. Any ideas on why someone would be declined for a secured card? Or, any suggestions for other secured credit cards? Thanks, Jim

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Wells Fargo Secured CC

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I ran into similiar situation a good while back. However, I then applied w/ Wells Fargo for $3000 secured for 1 yr. After 1 yr, score was up, they automatically gave me an unsecured card for $3,900 and refunded my original $3k. Since then, I have been on excellent path to improved credit and now at 779. My goal has been to consistently increase my score, pay bills on time, and not overuse. WF has been best one for me and since the original secured (3 yrs ago) they gave me 2 new unsecured cards plus a nice line of credit. If anyone is interested, please please please stay as far away from Best Egg as possible. They are pretty much outright frauds even though this site promotes them. Bad news all the way around. Try to stick w/ legit companies w/ good reps.

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Visit www.creditcards.com for a comprehensive, understandable list of secured cards.  Also, if you have a credit union in your area, see if they'll give you a "Credit Builder Loan".  Similar to a secured card.  Best of luck!

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