Dan L

Have you been denied for a secured credit card?

I’m thinking about getting a secured credit card: What are my chances of getting one? I have no credit history, too many inquiries, and i’ve only been at my job for 3 months. Also, I’m currently a part time student with a part time job, making about 10,000/annually.

...asked on July 9th, 2012 @ 4:20 am in Credit Card - PrePaid

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You can’t be denied…

Basically it’s your money you’re borrowing against. That’s why it’s a great way to build up credit: no one can be denied for one as long as you have the money to secure it!

...answered by KL on July 9, 2012 @ 4:32 am


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The only way I can see you getting declined is maybe if you have a record of financial fraud.

A secured card means you deposit say $ 500 with the bank, and they give you a $ 500 credit limit. You are simply paying them for the privilege of borrowing your own money, and building credit.

Start calling local credit unions. Find one you can join that offers these. You’ll be treated much better than the national companies that offer these, since most of them are really hoping to screw you as best they can. Credit unions are meant to help people get cheaper credit than banks typically would offer, and to help you build credit.

Get established with one, and they’ll give you car loans at half the interest a dealership would charge.

...answered by fukinluckyfuker on July 9, 2012 @ 5:06 am


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people who have never had credit or need to repair a poor credit history may not qualify for a regular credit card. For them, a secured credit card may be the only way to establish, or re-establish, credit.

A secured card requires a cash collateral deposit that becomes the credit line for that account. For example, if you put $ 500 in the account; you can charge up to $ 500. You may be able to add to the deposit to add more credit, or sometimes a bank will reward you for good payment and add to your credit line without requesting additional deposits.
Again, the amount will vary by the card. Most are $ 300 to $ 500. Your credit limit will either be the amount of your deposit or some percentage above that amount.
more information about secure credit card at: http://www.card-city.com/

...answered by grierGRIER h on July 9, 2012 @ 5:57 am


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