Cleared of all debt to get "secured credit card?"
Date: Mon, 05/20/2013 - 15:54
Hello all - My question is does anyone know if one has to be cleared of all credit card debt to purchase a secured credit card? I'm $3,700 in with chase bank that has went to collections, but I am paying it off in full in September of this year. I want to start "repairing" my score this summer with a secured credit card, I have the money to put down on the card..but I recently "applied" with a random online company for a 200$ card [i forgot which one] and it was denied..I don't know why it would be denied since I need to put money down..it's not like an actual credit card. The only reason I could think of is because my chase debt. Anyone know of a secured cc company that has worked for them??
If the account is already in
If the account is already in collection, it hardly matters if you have paid on it or not. Acquiring a secured credit card should not be much of a problem unless you have an entirely trashed credit score/report. Retry with other banks, possibly CapOne. They might approve.
