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New Contributor
chic
Posts: 58
Registered: ‎08-05-2009
0

Re: BOA 99/500 Graduation Question

[ Edited ]
I have the BOA fully secured card since 5/08 that never unsecured. Started w/ $500 limit & have increased it to $2500. Called boa 3 weeks ago to see why it hasnt automatically unsecured, rep sd pymnt hist is fine but had to do a hard inq, came back on the line & denied my request to unsecure after 15 months excellent customer hist. Reason he stated I have a new collection, the account he references is pinnacle, they brought a co acct from another ca & popped up on report 4/09, never reponded to 3 dv's so filed bbb complaint last week.Once pinnacle is removed rep said I could call back in.......  
Message Edited by chic on 08-21-2009 01:52 PM

2009 Starting Score: 504EQ 515TU
Current Score: 604EQ 641TU
Goal Score: 700


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Regular Contributor
LisaPA
Posts: 184
Registered: ‎10-26-2008
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Re: BOA 99/500 Graduation Question


Mank wrote:

I'm looking forwardly to my 9 month anniversary on my Bank of American partially secured card in September. I still have 4 derogatory accounts (all PIF) showing on my credit report. Is this going to hinder the graduation at all? I've read of people who it didn't graduate for untill 11 months. Also, BOA did an account review of my Transunion report a couple days ago. Is this in preparation for the graduation, or so that they have a reason to deny me?

 

After the Cabela's blow I took today I'm worried that the BOA graduation I've been looking forward to is going to get screwed up also.


My 9th statement just dropped on my 99/500, so I called to get an update (secured/partially secured backdoor number). The nice rep I spoke to said that they won't graduate you until 10 months, but that "in this economy" they are periodically checking your account to see how you're handling the card and in prep for graduating you. After 10 months, they will pull your whole credit file (I assume a soft) and then make the decision to graduate you. If it's good news, you'll get a letter, if not, you won't hear anything.

 

I was a bit disappointed that they are no longer doing it at 9 months. I suppose I shouldn't be surprised that they are a little extra cautious due to the economy. My scores have come up since I got the card, but I have some lates from almost 2 years ago that are still affecting my scores and won't cross the 2 year mark until November. Hopefully that won't matter since they were on there when I got the card last year.

Regular Contributor
BP2003
Posts: 139
Registered: ‎05-19-2008
0

Re: BOA 99/500 Graduation Question


LisaPA wrote:

Mank wrote:

I'm looking forwardly to my 9 month anniversary on my Bank of American partially secured card in September. I still have 4 derogatory accounts (all PIF) showing on my credit report. Is this going to hinder the graduation at all? I've read of people who it didn't graduate for untill 11 months. Also, BOA did an account review of my Transunion report a couple days ago. Is this in preparation for the graduation, or so that they have a reason to deny me?

 

After the Cabela's blow I took today I'm worried that the BOA graduation I've been looking forward to is going to get screwed up also.


My 9th statement just dropped on my 99/500, so I called to get an update (secured/partially secured backdoor number). The nice rep I spoke to said that they won't graduate you until 10 months, but that "in this economy" they are periodically checking your account to see how you're handling the card and in prep for graduating you. After 10 months, they will pull your whole credit file (I assume a soft) and then make the decision to graduate you. If it's good news, you'll get a letter, if not, you won't hear anything.

 

I was a bit disappointed that they are no longer doing it at 9 months. I suppose I shouldn't be surprised that they are a little extra cautious due to the economy. My scores have come up since I got the card, but I have some lates from almost 2 years ago that are still affecting my scores and won't cross the 2 year mark until November. Hopefully that won't matter since they were on there when I got the card last year.


I got my 99/500 card last year in September (2008). I called at 9 months (June 2009) about the card graduating, and they said that it was "under review".  In the midst of that 9 months, I received a 30 day late from a gym membership (expired debit card) on the very last payment of the gym contract.  Unfortunately, my credit score took a small hit for that, so I was scared that BoA wouldn't graduate my card because of that. 

 

The CSR said that looking at my good payment history with BoA and keeping the balance under the max for the previous 9 months, I would be fine.  The very next week (July 2009), the card graduated to a 1000 CL and I got $99 deposit back.  On top of all of that, my (at the time) fiance (now wife since 8/1/09 :smileyvery-happy:) and I were planning our wedding so my BoA card as well as my Capital One, HSBC, RZMC, and Home Depot card were all maxed out :smileysad:,  So my credit scores had to be in the low 600s when the card graduated.  So, I think for graduation purposes BoA looks more at how you treated their card, as opposed to your entire credit "worthiness" growth.

***From ashy to classy***
New Contributor
chic
Posts: 58
Registered: ‎08-05-2009
0

Re: BOA 99/500 Graduation Question

Good news, Pinnacle deleted the ca on my eq report, called boa, the rep reviewed my file and unsecured plus gave the normal additioanl $500 increase and my $2500 check is in the mail !!

2009 Starting Score: 504EQ 515TU
Current Score: 604EQ 641TU
Goal Score: 700


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