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Established Contributor
Posts: 636
Registered: ‎02-17-2011
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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 $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart MasterCard $5,300.00; Sam's Club Mastercard $8500.00; Barclay's Rewards MC $3700; CITIBank Dividend Platinum $300.00 CL; AMEX PRG NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays AA Red Aviator MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL; Chase Freedom Visa $3,500; Venture $15,000; Venture One $10,000.

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Posts: 1,129
Registered: ‎01-20-2011
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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.

 

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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Posts: 1,287
Registered: ‎04-06-2011
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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 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


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Established Contributor
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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 $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart MasterCard $5,300.00; Sam's Club Mastercard $8500.00; Barclay's Rewards MC $3700; CITIBank Dividend Platinum $300.00 CL; AMEX PRG NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays AA Red Aviator MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL; Chase Freedom Visa $3,500; Venture $15,000; Venture One $10,000.

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Posts: 1,285
Registered: ‎05-13-2010
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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 - $10k/9.99% | Citi Dividend World MC - $12.1k/11.99% | Amex BCE - $20k/10.24% | Chase Freedom VS- $10k/15.24% | Barclay Ring $5k/8.0% | Discover it - $19k/11.99%
Valued Contributor
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Registered: ‎01-20-2011
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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...

 

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
Posts: 636
Registered: ‎02-17-2011
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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 $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart MasterCard $5,300.00; Sam's Club Mastercard $8500.00; Barclay's Rewards MC $3700; CITIBank Dividend Platinum $300.00 CL; AMEX PRG NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays AA Red Aviator MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL; Chase Freedom Visa $3,500; Venture $15,000; Venture One $10,000.

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Registered: ‎05-13-2010
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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 - $10k/9.99% | Citi Dividend World MC - $12.1k/11.99% | Amex BCE - $20k/10.24% | Chase Freedom VS- $10k/15.24% | Barclay Ring $5k/8.0% | Discover it - $19k/11.99%
Valued Contributor
Posts: 1,287
Registered: ‎04-06-2011
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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 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


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Valued Contributor
Posts: 1,285
Registered: ‎05-13-2010
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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 - $10k/9.99% | Citi Dividend World MC - $12.1k/11.99% | Amex BCE - $20k/10.24% | Chase Freedom VS- $10k/15.24% | Barclay Ring $5k/8.0% | Discover it - $19k/11.99%
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