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Valued Member
Posts: 27
Registered: ‎12-01-2012
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BOA Secured Card

I was approved for the BOA Secured card, surprised since they were included in my BK almost 3 years ago. Smiley Happy 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. Smiley Happy

Blogger
Posts: 3,367
Registered: ‎10-19-2012
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Re: BOA Secured Card

Established Contributor
Posts: 726
Registered: ‎05-12-2012
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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
Posts: 3,367
Registered: ‎10-19-2012
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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
Posts: 726
Registered: ‎05-12-2012
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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. Smiley Happy


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Valued Member
Posts: 27
Registered: ‎12-01-2012
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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

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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. Smiley Wink

 

Established Contributor
Posts: 726
Registered: ‎05-12-2012
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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. Smiley Wink

 


Good advice HiLine! Smiley Wink


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Blogger
Posts: 3,367
Registered: ‎10-19-2012
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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. Smiley Wink

 


Good advice HiLine! Smiley Wink


Just trying to spread the wealth! BofA is an underrated credit card issuer IMO Robot wink

 

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