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APPLIED bank secured credit card denied

Submitted by on Thu, 01/29/2009 - 14:24
Posts: 202330
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hello,

After not being able to get a regular credit card, I tried Applied bank credit card online and was denied. Has anyone been denied from them before and if so why? Thank you
confused and sad
what now?


was there any problem with them getting the deposit.that is the only way i see them denying you.my credit is really bad and i got one.try new millenium bank.there site says approval guaranteed.


Submitted by paulmergel on Thu, 01/29/2009 - 14:27

paulmergel

( Posts: 15514 | Credits: )


really?i have had mine for 8 months.pay it on time and pay 9%.the only fee i paid is the 50.00 annual fee.


Submitted by paulmergel on Fri, 02/20/2009 - 10:14

paulmergel

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so, any other alternative to build credit?


Submitted by on Fri, 02/20/2009 - 14:32

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again,try new millenium bank.they are a secured card that guarantees approval.


Submitted by paulmergel on Fri, 02/20/2009 - 18:09

paulmergel

( Posts: 15514 | Credits: )


danielsjewelers
Daniel's Credit is open to California residents only.
i applied on crownjewelers
we'll see...
thx:)


Submitted by on Tue, 02/24/2009 - 19:32

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Don't worry about it. That Applied Bank card is okay for what it is...but is not the best one. I rate it a C because it does not come with any grace period on purchases, even though the interest rate is reasonable for a secured card at 9.99% at least when I looked at it. Try Orchard Bank Secured (I have this one...very reasonable...best of the secured and you can apply and get a decision online instead of mailing in a money order) or U.S. Bank Secured (will have to mail in) or Elan Financial Bank Secured. BofA and Wells Fargo have secured, but they have a lower approval rate and are picky. I was turned down for a BofA secured card with a credit score of 620. Can you believe it? You could also try Total Visa by Plains Commerce Bank (it has a lot of fees though) or a crappy 1st Premier product, but again they sometimes want fair credit. Each one has their own rules.


Submitted by on Wed, 02/25/2009 - 19:53

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let me see if I have this correct.

Crownjewelers.com calls and verifies your employment & non resident relative, gives you an initial credit line, you first purchases require a small down + s&H, they report you to the bureaus, and in about 6 months they give a line thats good for 0 down based upon your payment history?


Submitted by on Wed, 02/25/2009 - 21:32

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They take $1,000 out of my bank account and hold it for 30 days without an indication of approval and when I protest that this is a secured credit card and nothing in this world takes 30 days anymore, they send me a refund check but it will take 30 days to process the refund when they were able to direct debit the money out of my account in 1 day. Give me a break this is bogus.


Submitted by on Tue, 03/10/2009 - 06:08

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Dont pay the fees these places charge! They exploit the down and out of America. ALWAYS read the fine print. If you must get better credit, go with a secured card and pay it off in full every month. Citi bank has a good one and you EARN interest on your deposit. Applied should be your LAST RESORT. NEVER go with 1st Premier. Their fees are through the roof - they are just taking full advantage of your bad situation.


Submitted by on Fri, 03/20/2009 - 19:20

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Applied Secured Card denied you?! How can they do when they don't check your credit? As stated above, you have to make a deposit on the CC...this deposit IS your credit. MEGAMOM..you stated that a company held $1000.00 from you account'? What company was this?


Submitted by sdchargers_63 on Sat, 03/21/2009 - 04:10

sdchargers_63

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ok i read this bank approves you no matter what your situation is. they dont check your credit historyl all they need to do is verify your social, address and ph#. in my understanding. they give you a 5k limit on your credit card and you have to deposit $300.00 into your credit card, now what mess me up is, this is like a debit card that you put in your bank and you can use anytime BUT they charge a frigging interest on your OWN money and you have to pay a minimum monthly payments or pay it off, now the interest alone is stupid! theyre making money on your OWN money!!!! i was like WTF!!! i have emailed them for my refund of $99.00. this company is bogus!! i say! save your money and slowly pay little by little your debts!!


Submitted by on Thu, 07/09/2009 - 16:40

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Quote:

Originally Posted by Anonymous
ok i read this bank approves you no matter what your situation is. they dont check your credit historyl all they need to do is verify your social, address and ph#. in my understanding. they give you a 5k limit on your credit card and you have to deposit $300.00 into your credit card, now what mess me up is, this is like a debit card that you put in your bank and you can use anytime BUT they charge a frigging interest on your OWN money and you have to pay a minimum monthly payments or pay it off, now the interest alone is stupid! theyre making money on your OWN money!!!! i was like WTF!!! i have emailed them for my refund of $99.00. this company is bogus!! i say! save your money and slowly pay little by little your debts!!


good write up,
but i think for certain situations things might be a little different. because others, myself included, are finding it hard to rebuild credit. let me not say hard but time consuming. i have absolutely no debt owed but my mortgage, up to date never late, with 3 secured cards: applied, new mil, first premier. i try to use them once a month but i always pay in full i guest i really got use to not have any, but it still takes forever for your credit score to improve. i even paid a credit repair agency 4000 for their services. and that when i finally saw some movement on my score but i think that is due to the things they deleted off and not really the secured cards. i just wish i could hit reset. lol


Submitted by on Thu, 09/10/2009 - 14:28

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I have had my card for six months and I dont pay alot of fees


Submitted by on Mon, 04/26/2010 - 18:15

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Quote:

Originally Posted by Anonymous
Dont pay the fees these places charge! They exploit the down and out of America. ALWAYS read the fine print. If you must get better credit, go with a secured card and pay it off in full every month. Citi bank has a good one and you EARN interest on your deposit. Applied should be your LAST RESORT. NEVER go with 1st Premier. Their fees are through the roof - they are just taking full advantage of your bad situation.

Citi just turned me down, I am a current citi customer with over 13k in 2 different accts and I gave them one thousand dollars for a secured card and they turned me down. How ridiculous is that, what's the purpose? If you had good credit why would you be applying for a secured card. I'm wondering if it is even worth it, the banking system is so unstable. There should be a medium point for people who are trying to get there lives back together and stop the black or white scenario and look at what makes sense. If you secure a card with matching funds then wouldn't it make sense that if you don't pay, that the bank will take my secured funds? Not only that you are making $ off the interest you are charging me for my deposited money. That's a WIN, WIN situation for them. No wonder the country is broke!!! I say thank you for the turn down there has to be another solution. SMDH!!!!


Submitted by on Mon, 08/30/2010 - 14:10

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I was just turned down by Orchard for a secured card. I have $10,000 in savings for a home downpayment and want to build credit. I haven't had credit cards/loans since 1997, but pay all bills on time. I have no delinquencies on my credit report. They have yet to give me a reason other than the denial letter. Not sure why. I pay everything on time. I have savings, and a long term bank account. No NSF's. I don't know....


Submitted by on Tue, 06/14/2011 - 09:14

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