Smartbouy S asked:


I paid off all my credit card balances may be a year ago.I applied for a new credit card with my bank with which I am banking for more than 2 years now have both checking and Savings accounts. For some reasons they rejected my credit card application. This bank does not have a secured card with them. Now I am planning to apply for a secured card with another bank. But I do not have a good relationship with this bank as I do not have much transactions going on with this new bank and also I do not have a savings account in this bank just a checking account. As all my transactions being handled by my previous bank mostly checks and Debit cards.Do you think this will affect my chances of getting a secured card with this new bank. I am disappointed with my old bank with whom I have been maintaining a good relationship for the past three years. Do you think I should close the accounts there and move checking and savings to this new bank. Does the checking and savings accounts transaction details in my old bank will be considered when my credit card application is being processed at the new bank. Do you think I need to open savings account in this new bank also for better chances of approval.

secured credit application

time4sax asked:


I just found out that the dealer were I purchased my vehicle had submitted my application to at least 20 banks/credit unions to get me financed. My credit score dropped 25 points in just 2 days due to the 20 inquiries now showing up on my credit report. Isn’t there a limit on how many places they can submit a credit application? I know I should have secured my own financing before going to the dealer, but I didn’t think they could ruin your credit score like this. Is there anything I can do to have all these inquires removed?

secured credit application