After paying off my largest balance card in full (BankOne, formerly First USA) , I discovered that they evidently closed the account a while ago but didn't inform me. There's also zero indication of this action when logging into account online. (I'm still behind with all the others but will be clearing that up eventually.) I think this tactic may backfire on some creditors, as folks may not bother to settle up under these circumstances, but .... My question: What's the best secured credit card? Will they issue it despite an otherwise currently terrible credit report? One would think so, given that they will be secured, but these companies' practices often defy logic.
You are correct in your assumption that some secured credit cards are tough to get. I believe that Wells Fargo is one of those cards (makes little sense really) I would suggest that you try Orchard (issued by household) they will have you fill out an application then they will only pull a soft inquiry on your report and will "suggest" which card you should apply for given your credit situation. They do have an unsecured card as well as secured. Another card you might look at is BOA they have a very good rate for secured card (around 14%) and BOA would be a great bank to start a relationship with. Let us know how you do.
