BOA App question

[JWest]

I applied for a boa cash rewards card but i don't think I got approved and then got an alternate offer for the same cash rewards card with 500 limit and it was said I would be notified if approved and a deposit would be withdrawn but I didnt have to enter any account information and I didn't apply for the secured card, has anyone had this happen?

[mbla]

It looks like you were offered the elusive 99/500 semi-secured card.  It is a very rare, sort after offer for individuals at a certain credit score.  People acutally apply for the BofA Cash Rewards Card even if they know they will be denied hoping for this offer.  Are you a B of A Deposit Account customer?  I personally would take the offer if it is the 99/500 offer.

[JWest]

Understood but that's why I'm confused because I'm actually not a boa customer

[mbla]

That's fine.  The only reason I asked was that some on the forums say its limited to BofA customers but that is just talk.  Nobody know for sure except BofA.

Call the BofA Secured Card Credit Analyst team 5a-5p PT to check our the app status at 888-260-4696.  Really nice US Based CSRs as well.

[JWest]

Ok will do thanks

[JWest]

My offer also stated it was the 123 cash rewards card those are offered as secured cards?

[mbla]

Yes even the fully secured card can be product changed the the 1-2-3 Rewards Card once it's issued.  Remember unlike other secured cards (Capitol One/USAA) BofA cards graduate.  I have even heard you can request at CLI of $500 for a $99 additional deposit after a few months of excellent payment history then it can be unsecured based on credit analyst review (with HP).

Call the Credit Analysts they can answer all your questions in one easy call.

[bigblue7722]

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@mbla wrote:

Yes even the fully secured card can be product changed the the 1-2-3 Rewards Card once it's issued.  Remember unlike other secured cards (Capitol One/USAA) BofA cards graduate.  I have even heard you can request at CLI of $500 for a $99 additional deposit after a few months of excellent payment history then it can be unsecured based on credit analyst review (with HP).

Call the Credit Analysts they can answer all your questions in one easy call.

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The 500 for 99 additional deposit where did you hear that from? I have read a lot about the boa secured card and have never heard that.

[djc1puno]

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@bigblue7722 wrote:

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@mbla wrote:

Yes even the fully secured card can be product changed the the 1-2-3 Rewards Card once it's issued.  Remember unlike other secured cards (Capitol One/USAA) BofA cards graduate.  I have even heard you can request at CLI of $500 for a $99 additional deposit after a few months of excellent payment history then it can be unsecured based on credit analyst review (with HP).

Call the Credit Analysts they can answer all your questions in one easy call.

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The 500 for 99 additional deposit where did you hear that from? I have read a lot about the boa secured card and have never heard that.

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it's a counter-offer to those that didn't qualify for their normal 123 card...i got the same offer before after being denied...99/500 secured 123...AFAIK, you don't need to be a BOFA customer to get that offer

[Revelate]

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@djc1puno wrote:

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@bigblue7722 wrote:

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@mbla wrote:

Yes even the fully secured card can be product changed the the 1-2-3 Rewards Card once it's issued.  Remember unlike other secured cards (Capitol One/USAA) BofA cards graduate.  I have even heard you can request at CLI of $500 for a $99 additional deposit after a few months of excellent payment history then it can be unsecured based on credit analyst review (with HP).

Call the Credit Analysts they can answer all your questions in one easy call.

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The 500 for 99 additional deposit where did you hear that from? I have read a lot about the boa secured card and have never heard that.

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it's a counter-offer to those that didn't qualify for their normal 123 card...i got the same offer before after being denied...99/500 secured 123...AFAIK, you don't need to be a BOFA customer to get that offer

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Think there's some miscommunication:

The 500 for $99 initial deposit is one thing on the ever useful and as another poster described it as elusive counter-offer (I'd absolutely take it personally in that situation)

mbia suggested you could make an additional $99 later for an additional 500 dollars on the limit.  That's news to me and isn't really necessary since as I understand it BOFA graduates these cards identically to their secured ones... in which case typically it'll be kicked up above the 1K mark anyway.  Save the money and the HP as a result.