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Established Contributor
texasman07
Posts: 546
Registered: ‎02-17-2011
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Approved for BOA Power Rewards Visa SECURED

[ Edited ]

Has anyone had experience with this? I applied for the BOA Power Rewards Visa and got the counter offer for the Secured Power Rewards.  Reading the post it looks like everyone has had great experience with the Regular secured BOA.  I havent seen any post on the Secured Power Rewards.  I Have two first premier cards and recently closed one this month after having it since 2007 with perfect history but they never gave me CLI and the fees were outrageous.  The other FP card will be gone this month.  The BOA card seems pretty good for rebuilding. I was wondering too if you can add funds every month and if so can you do it online?

Amex Delta Gold $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart DISCOVER $4,000.00; Sam's Club Discover $8500.00; Barclay's Rewards MC $3300; CITIBank Dividend Platinum $300.00 CL; AMEX Green NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays US Airways Platinum MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL.

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llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Approved for BOA Power Rewards Visa SECURED

Congrats! Back in the day when they really promoted secured, I applied for two of their cards on the same day and was declined, but received two different counter-offers on two different products. Since then I've seen secured offers on many of their products (I dare not name them because I don't know if they are still around).

 

I don't know if or how to add funds. The card I picked was a 99/500 (no longer offered) andI couldn't add anything to that, because if I did it wouldn't be a 99/500 anymore.

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Valued Contributor
-Cain-
Posts: 1,283
Registered: ‎04-06-2011
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Re: Approved for BOA Power Rewards Visa SECURED

Nice! I didn't see that card offered on their site, so I applied for the regular secured and got the regular Platinum Plus secured. I wish I had seen the power Rewards. I wonder if you can do a PC between secured cards?

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
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texasman07
Posts: 546
Registered: ‎02-17-2011
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Re: Approved for BOA Power Rewards Visa SECURED

Hey thanks! Yea I originally didnt' see it on thier site also. Its not offered. But when I applied for the regular Power Rewards, it counter offered with the secured power rewards. I went back to the BOFA website and looked again but its not there. I guess you have to apply for the regular one and then get the counter offer.

Amex Delta Gold $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart DISCOVER $4,000.00; Sam's Club Discover $8500.00; Barclay's Rewards MC $3300; CITIBank Dividend Platinum $300.00 CL; AMEX Green NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays US Airways Platinum MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL.

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vish1
Posts: 1,129
Registered: ‎01-20-2011
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Re: Approved for BOA Power Rewards Visa SECURED

 


texasman07 wrote:

Has anyone had experience with this? I applied for the BOA Power Rewards Visa and got the counter offer for the Secured Power Rewards.  Reading the post it looks like everyone has had great experience with the Regular secured BOA.  I havent seen any post on the Secured Power Rewards.  I Have two first premier cards and recently closed one this month after having it since 2007 with perfect history but they never gave me CLI and the fees were outrageous.  The other FP card will be gone this month.  The BOA card seems pretty good for rebuilding. I was wondering too if you can add funds every month and if so can you do it online?


 

Go ahead and get it. Its pretty much a good card and customer service is decent (not great), but much better than cap1

 

Downsides are:

  1. It will report on your CR as fully secured (thats how my BofA used to report)
  2. You may not be able to get them to remove AF on your card easily once it unsecures especially if you are rebuilding
  3. You may not get a great CLI on unsecuring if you are rebuilding but should grow with time
Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
0

Re: Approved for BOA Power Rewards Visa SECURED

I forgot 1 thing, they will HP you again after you accept the secured counter offer.

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Established Contributor
texasman07
Posts: 546
Registered: ‎02-17-2011
0

Re: Approved for BOA Power Rewards Visa SECURED

Thanks for the heads up! I think I will get it. I didnt' know that it reports as SECURED......Does this affect your credit score? or I guess it would only be seen on a manual review.

Amex Delta Gold $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart DISCOVER $4,000.00; Sam's Club Discover $8500.00; Barclay's Rewards MC $3300; CITIBank Dividend Platinum $300.00 CL; AMEX Green NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays US Airways Platinum MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL.

Established Contributor
texasman07
Posts: 546
Registered: ‎02-17-2011
0

Re: Approved for BOA Power Rewards Visa SECURED

Damn another Hard Pull! Its okay I guess. They pull experian for me and not many Pull Experian in Texas so I can afford the HP.

Amex Delta Gold $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart DISCOVER $4,000.00; Sam's Club Discover $8500.00; Barclay's Rewards MC $3300; CITIBank Dividend Platinum $300.00 CL; AMEX Green NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays US Airways Platinum MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL.

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: Approved for BOA Power Rewards Visa SECURED


texasman07 wrote:

Thanks for the heads up! I think I will get it. I didnt' know that it reports as SECURED......Does this affect your credit score? or I guess it would only be seen on a manual review.


There's no FICO score impact if reporting secured.

 

And ditto to the second pull. Now that vish reminded me, I had 4 hard pulls in my case. Two for the unsecured pull and two for the secured. They denied the second secured after trying later on because I already had a secured card. EX was loving my inquiries then.

Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
0

Re: Approved for BOA Power Rewards Visa SECURED

 


llecs wrote:

texasman07 wrote:

Thanks for the heads up! I think I will get it. I didnt' know that it reports as SECURED......Does this affect your credit score? or I guess it would only be seen on a manual review.


There's no FICO score impact if reporting secured.

 

And ditto to the second pull. Now that vish reminded me, I had 4 hard pulls in my case. Two for the unsecured pull and two for the secured. They denied the second secured after trying later on because I already had a secured card. EX was loving my inquiries then.


Yes, there is no FICO impact if reporting as secured. I just mentioned this as I thought this can have a impact in a human review and also to provide the OP all the info I had.

 

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)

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