Reply
Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
0

Re: BOFA Secured Card

Congrats!

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Valued Contributor
dodgerslv
Posts: 1,834
Registered: ‎06-16-2012
0

Re: BOFA Secured Card

Congrats!!! I have nothing but nice things to say about BofA...in my personal experience, they have been great to me and very nice credit analyst also. I started out with a secured card from them May 2012. It just unsecured with a CLI to 5000 and got approved for their Better Balance MC last month for 2000 (now sitting at 4K). Treat the card right and PIF as often possible and you can even be eligible for early graduation!


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 9.5K) (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).





Moderator
09Lexie
Posts: 26,340
Registered: ‎09-13-2012
0

Re: BOFA Secured Card

New Contributor
chucky1234
Posts: 68
Registered: ‎11-05-2010
0

Re: BOFA Secured Card

@dodgerslv What kind of cl did you start with when you applied for the secured card? I started with $300 should I add more up to $1000 or ?? Any suggestions?

Valued Contributor
dodgerslv
Posts: 1,834
Registered: ‎06-16-2012
0

Re: BOFA Secured Card


chucky1234 wrote:

@dodgerslv What kind of cl did you start with when you applied for the secured card? I started with $300 should I add more up to $1000 or ?? Any suggestions?


I started with 700 deposit and increased it to 2K after 3 months of having the card. Just be careful, everytime you wanna add funds to the card it will be a HP on your report (dont ask me why but they will pull your report for even adding more money to the card). I just kept it a 2K for the rest of the months. You should add more money if you can. Save up a good chunk that way you will not have mutliple HPs. They love it when you pay the balance in full. Once you are about 11 months with card, call tha backdoor number for secured accounts and ask if you are eligible for early graduation. They will tell you there. If your credit has improved greatly since then, you can request early graduation along with a CLI (what i did). It was a HP for me but i felt confident i could get approved because i know they pull TU for CLI and i knew i was over 700 with only 4 inquiries total.  Good luck all the way!


Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 9.5K) (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).





New Contributor
chucky1234
Posts: 68
Registered: ‎11-05-2010
0

Re: BOFA Secured Card

@dodgerslv, Thanks for this great information. I will do the same.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}