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Wells Fargo Secured Visa


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Hey guys, I was out looking for another potential card to acquire and came across the Wells Fargo Secured Visa. Anybody have any experience with this card. Back in November I was declined for the 99/500 BoA secured card due to 2 unpaid CO's. I was reading the Eligibility section of the WF app and it said "You must be at least 18 years old, not have declared bankruptcy within the past 12 months, and not have any unsettled liens." What is 'unsettled liens?' Is that on property or could that mean CO's? I would like to apply but don't want to be declined. I may have to wait until July to appy (after paying my CO's)...any suggestions? :roll:

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Here is the definition of lien from Merriam Webster Online

www.m-w.com

Main Entry: lien

1 : a charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law

Thus an unsettled lien is about real or personal property that the lien is secured againt (like car, etc...).

As for a secured account, before you pursue that, please explore every option of getting an unsecured account first. Maybe a gas card or department card, etc...

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If you must have a secured card, apply for the National City card. They will approve you (even with a recent BK) and they're a prime lender.

If not National City, then check with a credit union.

Wells Fargo is a tough lender. Apparently they only approve people with GOOD credit or NO credit for their secured card. If you have any derogatory credit, the most recent must be older than 24 months.

Trust me, I used to be a Wells Fargo Banker and Manager.

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Hey guys, I was out looking for another potential card to acquire and came across the Wells Fargo Secured Visa. Anybody have any experience with this card. Back in November I was declined for the 99/500 BoA secured card due to 2 unpaid CO's. I was reading the Eligibility section of the WF app and it said "You must be at least 18 years old, not have declared bankruptcy within the past 12 months, and not have any unsettled liens." What is 'unsettled liens?' Is that on property or could that mean CO's? I would like to apply but don't want to be declined. I may have to wait until July to appy (after paying my CO's)...any suggestions? :roll:

I started my credit rebuilding with a WF Secured - put $1K into the account and used the card exactly twice in the next year - both times to fill up my gas tank. I paid the bills immediately. When the year was up they refunded the $1000 to me with interest and converted the card to an unsecured card. Within 14 months my credit line on that card was raised to $15,000.

When I asked for my first CLI they originally refused saying I barely used the line I had. My reesponse was "With only a $1000 line I can't charge my vacations in Cancun and Acapulco, so my Cap1 card witha $7500 line went on those trips. Increase your line and Cap1 stays home and you go. They did, I closed out my Cap1 and 6 months later I asked for and got my $15K line.

An "unsettled lien" is an unpaid judgment. A CO by itself is not a lien.

WF did OK with me.

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Funny, that doesn't work on Juniper. I tell them I can't even use their card if they won't up me from $250 and they pretty much shrug their shoulders. Meanwhile Discover just gave me $8000 and Providian $7000.

Heatherette, do these COs appear on all three CRs? DHK, who would WF pull on Heatherette? If you can get those COs deleted somehow, I'd look for a card that pulled your cleanest report.

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LNY- yes mam, they are on all 3. I have no collections or judgements but 6 CO's (all 3 years old) and 4 are paid. I have a auto loan with chase for 13 mos, and a new orchard bank cc $300 CL which hasn't shown up yet on CR. I think I will wait to apply for this card in the fall. I want to be extra cautious when applying from now on. By fall, my other 2 CO's will be paid and I will have some new payment history with the Chase, Orchard Bank, and Chevron.

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