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Valued Member
tjw0783
Posts: 25
Registered: ‎12-01-2012

BOA Secured Card

I was approved for the BOA Secured card, surprised since they were included in my BK almost 3 years ago. :smileyhappy: Anyway, I was reading the fees and it says theres a fee for each transaction ( purchases)..Did I read this right? So anytime I make a purchase they charge me ten dollars on top of the charge? Thanks. :smileyhappy:

Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: BOA Secured Card

Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: BOA Secured Card

As far as I know, the BOA Secured card has a $39 annual fee and the $10 you read is probably talking about balance transfers. It's either 4% or each transaction or a $10 minimum, but that's only on balance transfers.

 

You can read more about it on their Terms Page.


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Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: BOA Secured Card


BrokaToe wrote:

As far as I know, the BOA Secured card has a $39 annual fee and the $10 you read is probably talking about balance transfers. It's either 4% or each transaction or a $10 minimum, but that's only on balance transfers.

 

You can read more about it on their Terms Page.


Oh so that's where the $10 amount comes from ...

OP, a balance transfer is completely difference from a purchase. I would suggest you Google "balance transfer" to have some understanding of this term. Rest assured that BofA does not charge you money for purchases.

 

Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: BOA Secured Card


HiLine wrote:

BrokaToe wrote:

As far as I know, the BOA Secured card has a $39 annual fee and the $10 you read is probably talking about balance transfers. It's either 4% or each transaction or a $10 minimum, but that's only on balance transfers.

 

You can read more about it on their Terms Page.


Oh so that's where the $10 amount comes from ...

OP, a balance transfer is completely difference from a purchase. I would suggest you Google "balance transfer" to have some understanding of this term. Rest assured that BofA does not charge you money for purchases.

 


+1 I've banked with BOA for many many years and have never been charged for a transaction. I had their secured product for a while too and still never saw any fees for making transactions. I wouldn't worry about that if I were you. :smileyhappy:


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Valued Member
tjw0783
Posts: 25
Registered: ‎12-01-2012

Re: BOA Secured Card

Thank you both...I was reading the terms page and I guess "transactions, Purchases" caught my eye and saw the $10 fee and didnt read it through. Whew..I was about to call BOA and cancel the card...lol

Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: BOA Secured Card


tjw0783 wrote:

Thank you both...I was reading the terms page and I guess "transactions, Purchases" caught my eye and saw the $10 fee and didnt read it through. Whew..I was about to call BOA and cancel the card...lol


Instead, you should call them to add the Cash Rewards package to your card, if you haven't done that already. :smileywink:

 

Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: BOA Secured Card


HiLine wrote:

tjw0783 wrote:

Thank you both...I was reading the terms page and I guess "transactions, Purchases" caught my eye and saw the $10 fee and didnt read it through. Whew..I was about to call BOA and cancel the card...lol


Instead, you should call them to add the Cash Rewards package to your card, if you haven't done that already. :smileywink:

 


Good advice HiLine! :smileywink:


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Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: BOA Secured Card


BrokaToe wrote:

HiLine wrote:

tjw0783 wrote:

Thank you both...I was reading the terms page and I guess "transactions, Purchases" caught my eye and saw the $10 fee and didnt read it through. Whew..I was about to call BOA and cancel the card...lol


Instead, you should call them to add the Cash Rewards package to your card, if you haven't done that already. :smileywink:

 


Good advice HiLine! :smileywink:


Just trying to spread the wealth! BofA is an underrated credit card issuer IMO :robotwink:

 

Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: BOA Secured Card

I agree! I love mine and have never had any trouble with them and they've been pretty good as far as unsecuring and CLI, it's been a great card.


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