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Approved for BOA Power Rewards Visa SECURED

Established Contributor

Approved for BOA Power Rewards Visa SECURED

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 4.5k Amex HH 2k Amex Green NPSL, AMEX Delta Blue 2k, BOA Cash Rewards 1k, Barclay Jet Blue WMC 7K, Chase Freedom 2.5k Chase Southwest Premier Plus 7K Chase United Explorer 20.5K Chase Marriott 11K , Amazon Visa 3.5k, Discover $7.5K 7.5K Venture $17K Venture One 12K Quicksilver Visa Siggy 5.5K Citi Shell MC 2k, Total Rewards Visa 5.4K CITI AA Executive WEMC 15.4 Paypal Extras MC 8K, Citi Diamond WEMC 4K Citi DC WEMC 4.5K Citi Hilton Visa Siggy 8k.
Message 1 of 41
40 REPLIES
Moderator Emeritus

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.

Message 2 of 41
Valued Contributor

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
Current Score: EQ 741 12/2011, EX 730 08/15 (PSECU), TU08 710 08/15
Goal Score: 725+ across the board


Take the FICO Fitness Challenge

Message 3 of 41
Established Contributor

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 4.5k Amex HH 2k Amex Green NPSL, AMEX Delta Blue 2k, BOA Cash Rewards 1k, Barclay Jet Blue WMC 7K, Chase Freedom 2.5k Chase Southwest Premier Plus 7K Chase United Explorer 20.5K Chase Marriott 11K , Amazon Visa 3.5k, Discover $7.5K 7.5K Venture $17K Venture One 12K Quicksilver Visa Siggy 5.5K Citi Shell MC 2k, Total Rewards Visa 5.4K CITI AA Executive WEMC 15.4 Paypal Extras MC 8K, Citi Diamond WEMC 4K Citi DC WEMC 4.5K Citi Hilton Visa Siggy 8k.
Message 4 of 41
Valued Contributor

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
Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 5 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

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

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 6 of 41
Established Contributor

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 4.5k Amex HH 2k Amex Green NPSL, AMEX Delta Blue 2k, BOA Cash Rewards 1k, Barclay Jet Blue WMC 7K, Chase Freedom 2.5k Chase Southwest Premier Plus 7K Chase United Explorer 20.5K Chase Marriott 11K , Amazon Visa 3.5k, Discover $7.5K 7.5K Venture $17K Venture One 12K Quicksilver Visa Siggy 5.5K Citi Shell MC 2k, Total Rewards Visa 5.4K CITI AA Executive WEMC 15.4 Paypal Extras MC 8K, Citi Diamond WEMC 4K Citi DC WEMC 4.5K Citi Hilton Visa Siggy 8k.
Message 7 of 41
Established Contributor

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 4.5k Amex HH 2k Amex Green NPSL, AMEX Delta Blue 2k, BOA Cash Rewards 1k, Barclay Jet Blue WMC 7K, Chase Freedom 2.5k Chase Southwest Premier Plus 7K Chase United Explorer 20.5K Chase Marriott 11K , Amazon Visa 3.5k, Discover $7.5K 7.5K Venture $17K Venture One 12K Quicksilver Visa Siggy 5.5K Citi Shell MC 2k, Total Rewards Visa 5.4K CITI AA Executive WEMC 15.4 Paypal Extras MC 8K, Citi Diamond WEMC 4K Citi DC WEMC 4.5K Citi Hilton Visa Siggy 8k.
Message 8 of 41
Moderator Emeritus

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.

Message 9 of 41
Valued Contributor

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.

 

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 10 of 41