Before I applied for my FCNB secured card, I heard that if you have a great account history with them for a year you will have no problem getting unsecured. Even at the "Credit After Bankruptcy" seminars, they talked about how FCNB was great for that reason. All along during my year with FCNB, credit department reps kept telling me how great I was handling my account and adding that I would have no problem unsecuring it. (No cash advances, payments always on-time and for more than -- usually way more that -- the minimum.) But when my first anniversary of having the card came and went, I heard nothing about how to unsecure. So I called customer service, and the rep said I met the requirements and she would process my application for unsecuring the account. So I was shocked when my application was turned down for "insufficient account history." I was terrified when the letter said the account would be reviewed on an annual basis for going unsecured. Did this mean I'd have to wait another year? So I called the credit department, and now I'm even more confused. For "security reasons," the rep wouldn't say how long was a sufficient history, though she did say my account history was excellent. I was worried that the real reason I was turned down was because I was using too much of my credit limit, but she said paying the account off wouldn't help because my balance had no effect on the decision to not unsecure. She did to call the credit department (not customer service) back in a couple of months to discuss if my history would be sufficient for me to reapply to be unsecured. I guess I'll keep calling every couple of months till something happens. Still, the whole thing was weird. Maybe FCNB is becoming more cautious because of the economy. Or maybe it was afraid that if I applied my deposit to my balance I would max the card out during the holidays. Anyway, if you have an FCNB card, don't count on it automatically being unsecured.
Hey, I was also told by an FCNB rep that you may have your credit limit reduced if the account goes to an unsecured status. BJ
I'm not overly impressed by FCNB...they lied about a check and then refused to answer CRR letters and PlanetFeedbacks. Don't feel bad, I think they're on the decline CS wise. Have you tried CapOne?
I used to have their FCNB secured credit card and they unsecured my Mastercard after a year. In addition, they increase my credit limit of my account. In agreement you must deposit at least $400 in oder for unsecuring your account after a year. Ron.
CapOne was included in my BK. It was the only creditor that made me a reaffirm offer. I wish I had took it, but my lawyer advised me against it. If I had one thing to do over with my BK, it would have been to shop around for a lawyer. For a number of reasons, I wish I had had a better one. Also, I wish I had read "Credit After Bankruptcy" before filing.
I know people on this board who have gotten CapOne secured after BK...you might want to consider trying to apply for it and if denied, Planet Feedback them to get to Mr. Cooke or Mr. Miller.
