12-31-2008 08:05 AM
Received a B of A secured card two weeks ago. While speaking with the customer service rep, I asked what day did B of A update, or post, to the CRA's. He said that they update every 3 months. I re-phrased the question to ensure he understood what I meant, and he stated that a lot of people think they report monthly, but actually its' every three months.
This sounds odd. So I'm seeking comments and input from the masses.
12-31-2008 08:21 AM
12-31-2008 10:18 AM
And to add to that, when I had a fully secured card, BoA updated monthly. The CSR doesn't know what he's talking about.
My partially secured (99/500), while secured, updated each monthly religiously.
Friendly, Supportive & Respectful
"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli
12-31-2008 01:11 PM
Ditto w/ fully secured here.
12-31-2008 01:31 PM
I have a boa secured too and I can tell you that I m positive it reports to the credit bureaus at least 'experian' every month. To be specific it reports a day after your statement closing date.
HEY contractor, your card did not upgrade yet !!?
12-31-2008 02:09 PM - edited 12-31-2008 02:16 PM
HEY contractor, your card did not upgrade yet !!?
No, grumble-grumble, it hasn't. I got my 10th statement in mail today. To be specific though, the first statement was only for one (1) day, so I'm assuming it didn't count. I coy-ly sent this yesterday via the website mail.
Message text: I am curious as to how one goes about becoming "unsecured"
for lack of a better term. I have had the secured account since March
and was hoping that it would someday become a regular account as is
alluded to in your account information. Thanks in advance for any info.
I really, really like the website; it makes everything easy.
(Note cheesy butt-kissing) They replied with this today.
Thank you for your inquiry dated 12/30/08 regarding a secured card. We
are happy to assist you.
The Secured Card program is designed to take nine months to be
successfully completed. The nine months involve close monitoring of your
usage and payment patterns with the card. At the end of the ninth month,
you may contact us to review your account. If the overall account
management meets the criteria at that time, your account is graduated to
an unsecured credit card account. The proceeds from the secured account
are then mailed to you.
We value you as a customer and appreciate your business. If we may be of
further assistance, please contact us again by e-mail. Thank you for
choosing Bank of America.
Danielle XXXXXXX, Bank of America
Umm....excuse me, I am contacting you and it has been nine months. DUH. I guess they want the personal touch of a phone call. I'm just dreading it, I kiss-up better in writing, difficult to be sincere sounding on the phone. LOL. Should I call or wait them out?
12-31-2008 02:47 PM
Well you re getting close ! Hopefully very soon it will unsecure.
mine has a credit line of $800
I use it at least 18 to 24 times a month charging around 200 to 250 but I usually pay before the statement cut and I keep around 50 to $60 as a balance, and pay the rest in full by the due date.
I wonder if boa likes high usage like crap1 cause if not I m in trouble !!!
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