Just denied for a secured credit card..need input
Date: Sat, 03/06/2010 - 08:58
Hi everyone,
In Oct 2009, I was fully discharged in my Chapter 7 Bankruptcy (joint with wife). However I did re-affirm my auto loan with Chrysler and I'm current with them at this time.
A few weeks ago I decided I need to start taking steps in improving my credit score so I applied for a Bank Of America secured credit card with a $350.00 limit. I went with BofA since they are my bank.
Well I just received a denial letter stating ,
"Unfortunately, after careful review, we are unable to approve your application because you have previously filed bankruptcy or have an account included in bankruptcy."
I just ran my free credit report with Experian and I have a score of 606 with a D rating and of course I have 12 negative things on my report.
Is Bank Of America really hard on opening a secured card, or should I just look elsewhere?
Thanks,
b
In Oct 2009, I was fully discharged in my Chapter 7 Bankruptcy (joint with wife). However I did re-affirm my auto loan with Chrysler and I'm current with them at this time.
A few weeks ago I decided I need to start taking steps in improving my credit score so I applied for a Bank Of America secured credit card with a $350.00 limit. I went with BofA since they are my bank.
Well I just received a denial letter stating ,
"Unfortunately, after careful review, we are unable to approve your application because you have previously filed bankruptcy or have an account included in bankruptcy."
I just ran my free credit report with Experian and I have a score of 606 with a D rating and of course I have 12 negative things on my report.
Is Bank Of America really hard on opening a secured card, or should I just look elsewhere?
Thanks,
b
As I have heard, BofA may play a tough game when it comes on app
As I have heard, BofA may play a tough game when it comes on approving a secured credit card for individuals with bankruptcy. Try with other banks, for e.g. Wells Fargo. It is unusual that you were turned down for a secured card.
