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Frequent Contributor
Mank
Posts: 414
Registered: ‎11-30-2008

99/500 BOA Secured Card

Has anyone had any success getting this card changed to an unsecured lately? DH opened this card 12/2008. He tried to get it unsecured in July, so well beyond the time frame needed. They pulled his Equifax report - no worse, possibly better than when he was approved for the BOA card - but denied unsecuring the card. What to do? Just wait and keep trying?

Mega Contributor
Creditaddict
Posts: 16,918
Registered: ‎10-23-2007

Re: 99/500 BOA Secured Card

BofA changed there lending criteria after opening fully secured cards and these 99/500 secured cards like 2 years ago.  I had a fully secured, then graduated with a CLI to only be closed about 6 months later upon a review on there behalf.  They no longer excepted BK's and other Derog that before they let in if you had been good since for at least a year.

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Regular Contributor
LisaPA
Posts: 182
Registered: ‎10-26-2008

Re: 99/500 BOA Secured Card

I opened my 99/500 around the same time as your husband, but I called last summer to find out when it graduated. I think I was told to call back at the end of 10 months, did so and was graduated with a $500 CLI. (I already had a Cap1 credit steps card that had increased to $3000.) I called and tried to get a CLI 6 months later, no go.

 

After getting an Alliant credit union card with a $2500 limit (in addition to the Cap1 $3000 limit card), I used the web form to request a CLI to $3000 a few months ago and it was granted. I assumed it was because they saw that I had more than 1 card around that limit.

 

You might try asking BoA what specifically is preventing them unsecuring it.


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