Bank of America Secured CLI

Jasir · ‎10-08-2013

Hi all. Just some encouraging news. I just hit my 6 month anniversary on my BOA secured card; called and requested a CLI and was granted $500 raise (with an additional $99 deposit). So now my limit is $1000 (my deposit totals $198) and in 6 more months I should be graduating to unsecured and another CLI, plus getting my deposit back. So for those of you gardening a secured BOA ask for a CLI after your 6th statement, but be warned: it will be a hard pull and isn't guaranteed.

Amex BCE: $2600 - Bank of America Cash Rewards: $4800 - Barclaycard Rewards: Jefferson Collections - Capital One Quicksilver: CO - Chase Freedom: C0 - Merrick Bank: $1400 -

myjourney · ‎10-08-2013

@Jasir wrote:
Hi all. Just some encouraging news. I just hit my 6 month anniversary on my BOA secured card; called and requested a CLI and was granted $500 raise (with an additional $99 deposit). So now my limit is $1000 (my deposit totals $198) and in 6 more months I should be graduating to unsecured and another CLI, plus getting my deposit back. So for those of you gardening a secured BOA ask for a CLI after your 6th statement, but be warned: it will be a hard pull and isn't guaranteed.

Congarts and the info will help someone else

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

justforting · ‎10-08-2013

congrats!

Last App: 09/17/2013 // No App Until: Mortgage (05/14?)

Cards in my wallet: AMEX BCE ($8000) // CITI AA VISA SIG ($5000) // CHASE FREEDOM ($3500) // DISCOVER IT ($1000) // CAP ONE NC ($1000) // WALMART DISCOVER ($1600)
Credit Scores: FICO TU08 (10/13): 739 // Credit Karma (10/13): 677??!! // Credit Sesame (10/13): 730
Next Goal: CSP (after mortgage probably...)

MsLadyRover · ‎10-08-2013

Congrats OP!

Starting Score: 639 (Walmart TU)
Current Score: TU 715 (Barclay) EX 685 (myFICO) EQ 697 (myFICO)
Goal Score: 700 Across the Board (Mortgage Goal Achieved 1/31/2012!)
Take the FICO Fitness Challenge

knoregs · ‎10-08-2013

Congrats!

~kn

EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15

alexl22 · ‎10-08-2013

Congrats! Which i had went with BoA instead of Wells fargo for secured card, I reluctantly bank with well fargo so sigh

Starting Score: myFICO TU: 542, myFICO EQ: 556 EX: 549 (03/2013)
Current Score: 729 TU, EQ: 702, EX 724

Jasir · ‎10-09-2013

Thanks everyone

Amex BCE: $2600 - Bank of America Cash Rewards: $4800 - Barclaycard Rewards: Jefferson Collections - Capital One Quicksilver: CO - Chase Freedom: C0 - Merrick Bank: $1400 -

bd2eazy · ‎10-09-2013

Congrats !

As a new BoA card holder.. I request that you share your tactics that lead you to the CLI.

Did you PIF before statement closed? Leave a balance and pay before due date? Were

the other cards essential? I hope to share the same news 6 months from now, I just got

my card last week.

OhioCPA · ‎10-09-2013

I recall hearing that BoA won't unsecure a card until 12 months after the last CLI. Hopefully this isn't the case on the $99 deposit secured cards.

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Jasir · ‎10-13-2013

@bd2eazy wrote:
Congrats !

As a new BoA card holder.. I request that you share your tactics that lead you to the CLI.
Did you PIF before statement closed? Leave a balance and pay before due date? Were
the other cards essential? I hope to share the same news 6 months from now, I just got
my card last week.

My only tactic is to pay on time every month. Sometimes I pay in full (most months), but I occasionally let a balance carry to the next statement. I always pay more than the minimum due. I don't worry about spending a certain amount on the card at all. I treat all my cards this way because I don't have the time or inclination to jump through hoops trying to maximize FICO potential (my Barclaycard posts at least 40% utilization most cycles).

Here's what my balances looked like at time of approval: Barclaycard $225 ($750 CL); Walmart $163 ($500 CL); Chase - $0; BOA - $0; My FICO scores are between 655 (TU) to 705 (EX).

The 6 month mark seems to be standard time for evaluation for a CLI, so just make sure at time of request your utilization is below 30% and never miss a payment.

Amex BCE: $2600 - Bank of America Cash Rewards: $4800 - Barclaycard Rewards: Jefferson Collections - Capital One Quicksilver: CO - Chase Freedom: C0 - Merrick Bank: $1400 -