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Approved for BOA Power Rewards Visa SECURED

Established Contributor

Re: Approved for BOA Power Rewards Visa SECURED

So I just chatted with a specialist on this card. Here is the info.  You get all the rewards and a $50.00 statement credit for making your first purchase also.  You also earn 3X the point the first few months. Also you can make more deposits to increase your CL in a banking center or on the phone with customer service.  It WILL be reported as Secured on your credit report. and after a year they will Unsecure the card based on your payment history.

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 11 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

 


texasman07 wrote:

So I just chatted with a specialist on this card. Here is the info.  You get all the rewards and a $50.00 statement credit for making your first purchase also.  You also earn 3X the point the first few months. Also you can make more deposits to increase your CL in a banking center or on the phone with customer service.  It WILL be reported as Secured on your credit report. and after a year they will Unsecure the card based on your payment history.


This is all correct, just that they won't unsecure automatically, you will need to call them. you can call them upto 5 days before your card anniversary.

 

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 12 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

I called BofA customer service and they said a PC from platinum plus secured to Power Rewards secured was not available. Anyone know if talking to another agent might help the cause or is it indeed not an option?

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


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Message 13 of 41
Established Contributor

Re: Approved for BOA Power Rewards Visa SECURED

Did they say the Card isnt Available or the PC is not available?  Im not getting it till next week. I have till June 13 before the offer expires. I tried to do a web search for "Reviews" on this card but I just come up with the general secured card from BOA.  Im not sure if anyone has this card or if it is new. I guess it just works the same as the regualar card but its just "Secured".

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 14 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

 


-Cain- wrote:
I called BofA customer service and they said a PC from platinum plus secured to Power Rewards secured was not available. Anyone know if talking to another agent might help the cause or is it indeed not an option?

At the very least, when it unsecures you should have the option to PC.  I PC'd my "Student Platinum Plus" crappy card to a Cash Rewards back in October.

 

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 15 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

 


smc733 wrote:

 


-Cain- wrote:
I called BofA customer service and they said a PC from platinum plus secured to Power Rewards secured was not available. Anyone know if talking to another agent might help the cause or is it indeed not an option?

At the very least, when it unsecures you should have the option to PC.  I PC'd my "Student Platinum Plus" crappy card to a Cash Rewards back in October.

 


Once it unsecures, BofA will happily let you pc. YMMV with AF removal and CLI though...

 

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 16 of 41
Established Contributor

Re: Approved for BOA Power Rewards Visa SECURED

I did call customer service to check about the second Hard Pull. She informed me since I got the counter offer, once I send in my $$ for the deposit, they will do another Hard Pull.  I asked if they have to review my application again and she said YES but I have already met some of thier requirements to get the card so I should be approved.  She told me that they process the funds right away and once they are pulled out of my existing BOA checking account that im approved.  She commented that if Im sending them money they will take it LOL

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 17 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

Can someone explain to me why someone can get denied a secured card?

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 18 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

From what I've gathered here on the boards, open collection accounts may cause a denial.

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 19 of 41
Valued Contributor

Re: Approved for BOA Power Rewards Visa SECURED

 


-Cain- wrote:
From what I've gathered here on the boards, open collection accounts may cause a denial.

True... but why?  What risk is there?  Deny any charges that go above the line, and any unpaid charges are secured by the security deposit...

 

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 20 of 41