BOA utilization secured card question.

[Anonymous]

So before my my garden journey I took one last hard pull from BOA and deposited $1K on my secured card which is now a $3K CL. I avg about two payments of $112 on this card monthly. That's 3.7% of my $3K credit limit.

What I am trying to say is when I call to have my card unsecure will they hold it against me and say I used too little of the available credit limit. I'm trying to be responsible. Anyone can give me a insight on what the out come will be if continue to ONLY use 3.7% of $3K and make 2 payments of $112 monthly

[takeshi74]

No idea.  We're not BOA underwriters.  Decision should be based primarily on your credit.  Utilization is a factor but it's just one among many.

[Anonymous]

Great I'm glad to hear that. I really just wanted to know is 3.7% utilization good to lender's point of view

[Anonymous]

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@Anonymous wrote:
Great I'm glad to hear that. I really just wanted to know is 3.7% utilization good to lender's point of view

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ur fine, just use it however u like, let it report 5-10% then PIF and repeat.

[wmweeza]

I started with that card. I only charged $30-60 a month on it and paid it off early every month. I got auto CLI's like clockwork every 4 months until it reached almost $3000, then I requested a CLI to $5400..

If you treat that card right it's a great card (oh and mine unsecured at 1 year)

[Anonymous]

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@wmweeza wrote:

I started with that card. I only charged $30-60 a month on it and paid it off early every month. I got auto CLI's like clockwork every 4 months until it reached almost $3000, then I requested a CLI to $5400..

If you treat that card right it's a great card (oh and mine unsecured at 1 year)

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You got auto CLI on a secured card?

[wmweeza]

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@Anonymous wrote:

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@wmweeza wrote:

I started with that card. I only charged $30-60 a month on it and paid it off early every month. I got auto CLI's like clockwork every 4 months until it reached almost $3000, then I requested a CLI to $5400..

If you treat that card right it's a great card (oh and mine unsecured at 1 year)

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You got auto CLI on a secured card?

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oops, I left out a part.

"I started with that card. I only charged $30-60 a month on it and paid it off early every month.AT ONE YEAR IT UNSECURED and THEN I got auto CLI's like clockwork every 4 months until it reached almost $3000,"

Sorry

[Anonymous]

Wmwezza was limit on the secured card $3K and you only charged $30-$60 dollars on it which is 1%-2% and they unsecured you no problem?

[axlm]

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@Anonymous wrote:

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@wmweeza wrote:

I started with that card. I only charged $30-60 a month on it and paid it off early every month. I got auto CLI's like clockwork every 4 months until it reached almost $3000, then I requested a CLI to $5400..

If you treat that card right it's a great card (oh and mine unsecured at 1 year)

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You got auto CLI on a secured card?

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I did. Twice Thrice, from 300 --> 400 at 3 months and to 600 3 months later. Then called to have it unsecured at 10 months mark, and they increased it to 1000 in the process (it's the first one in my siggy).

To OP: I don't think utilization is important at this point, what they want to see is responsible use of your credit. As long as you use it frequently, it is not maxed out and you always pay on time, you should be fine. My 2 cents.

[wmweeza]

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@Anonymous wrote:
Wmwezza was limit on the secured card $3K and you only charged $30-$60 dollars on it which is 1%-2% and they unsecured you no problem?

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no, my card unsecured at $500