Chase-CitiBank-FCNBSecure Card

Discussion in 'Credit Talk' started by Aux, Mar 5, 2001.

  1. Aux

    Aux Well-Known Member

    Hi,

    I just start building credit. I got Chase Secured Card, Citibank Secured Card and FCNB Secured Card. My question is :

    Should I use all of them every month to build my credit? I am an authorized user for Reward card so I want to use my authorized credit card more than secured card but I am just afraid that if I don't use those secured cards it won't help me building credit.

    Please advice.

    Thanks
    Aux
     
  2. sam

    sam Well-Known Member

    Re: Chase-CitiBank-FCNBSecure

    It's important to use the cards. 0 activity months will show up as such on your credit reports.

    Your ability to bring a card near max out every month and pay it off every month, impresses most banks.
     
  3. Saar

    Saar Banned

    Re: Chase-CitiBank-FCNBSecure

    "Your ability to bring a card near max out every month and pay it off every month, impresses most banks."


    I don't think MOST banks would be impressed. This pretty much represents the profile of the least profitable customer. Or as one bank rep put it, that of a "deadbeat" (from bank's point of view). The profile shows a responsible customer, but one that has little value. They'd have to charge a hefty annual fee to squeeze some profit of that customer type.


    Saar
     
  4. Shell

    Shell Guest

    Re: Chase-CitiBank-FCNBSecure

    I agree Saar, maxing your cards and paying them off entirely every month WILL NOT impress most banks, you are not making them any money.

    Now not using your cards will not help build your credit. I suggest using your cards for monthly expenses, gas cable bill etc and then pay them monthly, and maybe leave a small balances carried over. It is important to show activity, but I don't suggest maxing them out and paying them off, this would only be impressive if you pay them off over a period of a few months to most banks.
     
  5. Ron

    Ron Well-Known Member

    Re: Chase-CitiBank-FCNBSecure

    I think that autorized user is not as good as primary user and why don't get your card. It is important to use it every month and don't go overlimit.
     
  6. Aux

    Aux Well-Known Member

    Re: Chase-CitiBank-FCNBSecure

    Thanks all.

    For Ron, I have credit problem and applied for many cc and got denied that's why I start with secured credit card and one day I hope It will turn to unsecured card. I have 1 paid charge off and 1 student loan. I am an authorized user of my wife and we got cash back by using that card.
     
  7. Ron

    Ron Well-Known Member

    Re: Chase-CitiBank-FCNBSecure

    Why don't do try FCNB secured card ? they took you as a primary user. You have to deposit at least 400 dollars as secured deposit . Back about two years, I got some charge-off accounts and they still approved me FCNB secured MasterCard. They approved me 1.5 times of my deposit and as long as the credit problem is not so recent. They took you. I told you I had half dozen charge-off accounts and FCNB still took me. I told the truth one time First Deposit forced me to close the Visa accounts after they checked my credit but FCNB hasn't done it tom euntil I close the accounts. I closed account because I got better cards. FCNB will take you without any problems
     

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