I have my application all filled out and I am going to get a cashiers check today. I have a few questions. Even though the Visa and Mastercard are from the same account, does it get report as 2 tradelines or 1. Also is it reported as secured or unsecured? Also it says they will increase your limit after 12 months of good acount history and how much do they normally give you for the increase and finally.. do they ever waive annual fees? Thank you for your responces in advance.
Don't know about Sterling Bank,but: 1)it would be reported a one tradeline.2)Mimiunim deposit is $200.00w/$19 processing fee.3)Why not take that $219.00 and apply it to a FCNB secure visa with deposit of $100.00 and then apply for FCNB secure mastercard with $100.00 and save yourself $19.00 and get 2 seperate tradelines.4)FCNB will match your deposit by 100%,200% or 300%,depends on your credit report.Also,will unsecure after one year of good payment history.
Re: also... FCNB will also give you increase after 4 months and they report to all 3 credit agency as unsecure. Don't think n e 1 will waive annual fees with secure card,could be wrong on that one.Do know annual fee is $39.00,which is billed on first statement.
I did an application over the phone with FCNB and I only got approved with 100% of the deposit. Also I don't have to pay the $19.00 application fee with Sterling because they supplied me with a coupon that waives the application fee. So I have to figure out if I care more about the extra tradeline or having more than 100% of my deposit.
If I were doing it,I would be interested in the tradeline.I would get the FCNB visa w/$100.00 and then turn around and get their mastercard w/$100.00.They will almost likely give you more than 100% w/second card.This is what they did w/ me.And you have two tradelines.Once you get cards,you can build-up the account with addition deposits.
I agree......that's why I'm pushing for the credit line increases, I don't really even want the credit extension, but I do want those good high lines to reflect on my credit report. am
