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Regular Contributor
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Registered: ‎08-31-2007
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BOA Platinum Visa, subprime?

[ Edited ]
I got a BOA secured card about a year ago with a balance of $300.  After about 7 months they sent me my money back and upped my limit to $800.  My question is -- Is this a subprime card? 
 
It is listed in my BOA accounts as BOA Platinum Plus Visa.  It has about 19.24% int.  The low CL and high int. imply that it is a subprime card.  Does BOA do both prime and subprime?
 
Thanks. 


Message Edited by rebuilder on 09-06-2007 09:19 AM
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
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Re: BOA Platinum Visa, subprime?

BofA is so far removed froom subprime, that there is no comparison to make.
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Registered: ‎06-27-2007
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Re: BOA Platinum Visa, subprime?

[ Edited ]
 


Message Edited by credit4me on 08-31-2007 10:32 AM


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Re: BOA Platinum Visa, subprime?

Brammy,  even secured? You learn something everyday on here...


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Posts: 5,436
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Re: BOA Platinum Visa, subprime?

Even Amex has cards with high interest rates and no one would breathe a word about them being subprime. Although you existing limits can disqualify you from other cards, limits are increased  on regular review as a reflection of your payment history. Whether a card is secured or not does not classify it as subprime. Some secured cards don't even report the secured status.
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Posts: 229
Registered: ‎08-31-2007
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Re: BOA Platinum Visa, subprime?

That's fantastic news.  Thanks Brammy. 
 
I planned on keeping this card anyways since it is the first card I got when reestablishing my credit & therefore want to keep the history, but I also, in wanting to establish long-term credit, want to make sure I have a prime card.
 
I guess I should just hold on to this card and wait for my CR to improve, then request CLI and request a lower int. rate?? 
 
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Posts: 5,436
Registered: ‎03-10-2007
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Re: BOA Platinum Visa, subprime?

Keep the card, keep utilization low and BofA will gladly give you more.  Great news about the upgrade!!!  You are well on your way!
Member
Posts: 13
Registered: ‎08-31-2007
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Re: BOA Platinum Visa, subprime?

BoA just approved me world mc with 8k CL, haven't got card yet but will try for CLI when activate. They pulled EX mine was 638 Fico at time. Smiley Tongue Smiley Very Happy
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Posts: 16,382
Registered: ‎03-12-2007
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Re: BOA Platinum Visa, subprime?

Wow, Congrats! That's a huge CL for your score. Do you have other CCs with similar CLs?
Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
New Contributor
Posts: 85
Registered: ‎06-18-2007
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Re: BOA Platinum Visa, subprime?

I have a BOA question.  Off and on, I get these letters from ca stating that my dw owes them money.  She wrote them back many, years ago, (no she did not request a signature or return receipt), that was before we knew better.   We have never had an account withe them, it has never (that we are aware of) shown up on her cr, but, if we were to try for a bank card with them, would her info still be in their memory banks?

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