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texasman07
Posts: 547
Registered: ‎02-17-2011
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BOFA SECURED HELP

HELPING A FRIEND REBUILD.  HE APPLIED FOR REGULAR BOFA SECURED.  APPROVED.  

 

QUESTION IS: CAN WE CALL WHEN HE RECEIVES THE CARD AND ADD REWARDS?

 

IS IT 9 MONTHS OR 12 MONTHS FOR UNSECURED.  THE REP SAID ' WHENEVER YOU FEEL YOUR CREDIT HAS IMPROVED GIVE US A CALL TO UNSECURE AND WE WILL PULL YOUR CR' IS THIS TRUE.

 

HE ALSO STATED " HAVE YOU BEEN ON MYFICO.COM?  THIS WEBSITE IS A GREAT WAY TO HELP YOU REBUILD' !

Amex Delta Gold $1000.00 CL; Discover $1000.00 CL; Gap Visa $4500.00 CL; AE Visa 4000.00 CL; Cap1 Quicksilver $2000.00; Walmart DISCOVER $4,000.00; Sam's Club Discover $8500.00; Barclay's Rewards MC $3300; CITIBank Dividend Platinum $300.00 CL; AMEX Green NPSL; Wells Fargo Rewards VISA $3,000.00 CL; Barclays US Airways Platinum MC $4000.00 CL; BOA Better Balance Rewards VIsa $1000.00 CL.

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HiLine
Posts: 3,162
Registered: ‎10-19-2012
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Re: BOFA SECURED HELP


texasman07 wrote:

HELPING A FRIEND REBUILD.  HE APPLIED FOR REGULAR BOFA SECURED.  APPROVED.  

 

QUESTION IS: CAN WE CALL WHEN HE RECEIVES THE CARD AND ADD REWARDS?

 

IS IT 9 MONTHS OR 12 MONTHS FOR UNSECURED.  THE REP SAID ' WHENEVER YOU FEEL YOUR CREDIT HAS IMPROVED GIVE US A CALL TO UNSECURE AND WE WILL PULL YOUR CR' IS THIS TRUE.

 

HE ALSO STATED " HAVE YOU BEEN ON MYFICO.COM?  THIS WEBSITE IS A GREAT WAY TO HELP YOU REBUILD' !


Did you need anyone else to say that? :smileywink:

 

Answer #1: Yes, if the rewards are not on the card already.

Answer #2: 12 months is the standard, but you can usually request early graduation. I'm not sure if they will pull an inquiry on you - I'm sure someone else can chime in on this.

 

Feel free to check out my experience with BofA's secured card on my blog:

 

http://hiepsfinance.wordpress.com/2012/11/05/personal-finance-101-introduction-to-credit-cards/

http://hiepsfinance.wordpress.com/2013/01/30/bank-of-america-is-awesome/

http://hiepsfinance.wordpress.com/2013/01/01/secured-credit-card-graduation/

 

 

Valued Contributor
dodgerslv
Posts: 1,841
Registered: ‎06-16-2012
0

Re: BOFA SECURED HELP

[ Edited ]

texasman07 wrote:

HELPING A FRIEND REBUILD.  HE APPLIED FOR REGULAR BOFA SECURED.  APPROVED.  

 

QUESTION IS: CAN WE CALL WHEN HE RECEIVES THE CARD AND ADD REWARDS?

 

IS IT 9 MONTHS OR 12 MONTHS FOR UNSECURED.  THE REP SAID ' WHENEVER YOU FEEL YOUR CREDIT HAS IMPROVED GIVE US A CALL TO UNSECURE AND WE WILL PULL YOUR CR' IS THIS TRUE.

 

HE ALSO STATED " HAVE YOU BEEN ON MYFICO.COM?  THIS WEBSITE IS A GREAT WAY TO HELP YOU REBUILD' !


congrats on your friend getting approved. It is normally after 12 months that it unsecures. I opened one back in May of last year so im near the anniversary date (May 2nd to be exact). I called today and checked to see if i was eligible for early graduation but wasnt unless i was willing to take a HP (CSR told me i could request a CLI at the same time also). So it will be a HP for early graduation and if your friend wants to increase his collateral deposit (limit) it will also be a HP. I believe you can also call to PC to the cash rewards upon receiving the card.


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 49.5K) (WF- 11k) (Penfed- 22.5k) (Discover- 8k) (Sync/GE- 15.7k) (NASA- 30k) (Diners- 15k)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).






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