04-16-2013 07:09 AM
Just applied online for the BOFA secured card. I received the following "The application is still under review". Is this a good or bad sign? Any back door number I can call?
I think you got it, unless you have burned BOFA in the past.
04-16-2013 07:14 AM
Ater 3 months with this card, go to (online or in person) a credit union and apply for an unsecured card.
04-16-2013 07:40 AM
In my opinion, BOA tends to be very forgiving.
I had 3 cards with them and burn them somehow. By burn, I mean that I was late on all 3, my interest went sky high and I had them close all 3 in order to be able to secure s 2% APR on a payment plan. Granted I paid all these cards off in full, Ithought they might be mad since they didn't make much $$ off me.
For about 5 years, they denied me anything I applied for; even a secure card. But last year, I applied for the Privileges card and was approved for a good CL. Even though, the credit analyst mentioned that I was late back in 2006-2007 on these cards, the payment plans etc, they gave it to me. I thought they would never approve me.
If you havent burnt them bad in the last couple of years, I would say you're good to go. But as usual YMMV. Good luck
04-16-2013 08:26 AM
Wooo congrats!!!! and right when you get it call and ask for rewards
04-16-2013 08:55 AM
Sorry what do you mean "Rewards"? Is that another cc or an upgrade from secured to rewards?
BOFA will tack on a rewards package to their secured product these days. Generally it's the 1-2-3 cash rewards card, though theoretically I think you could do the points one if you really wanted to.
In any event, just call them and ask for it, the addition of the rewards package is what makes arguably the best secured product out there.