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Bank Of America 99/500

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Bank Of America 99/500

I know there are many posts about this card, but I wanted to ask a few questions and tell of my experiences so far. I applied for a Worldpoints card and a Student Platinum Visa from BOA. Both were rejected, but I received two offers in the mail a few days later for a Worldpoints 99/500 and a Student Platinum Visa 99/500. My credit scores are in the low 500's due to a lot of negative information that I am currently cleaning up. I chose to do both, but since I read another post about somebody trying that, I sent the student platinum 3 days later. (I would rather have the worldpoints card on my record). I spoke with a cust rep and she said that at 9 months, they reconsider and can convert it. Once you are able to unsecure, you can convert to whatever card you want on a list they give you. I got rid of one of my Cap ones with a $200 limit that they would never raise and kept the no fee $3000 limit Cap One platinum. I want to get these two BOA cards and get my credit back up over 700. Has anyone converted their 99/500 into any good cards? Please respond.
7 REPLIES
Super Contributor

Re: Bank Of America 99/500

I have this card. It is due to convert to regular card in 4 months. You have to have the card for 9 months before they make it unsecure. I have read on this forum several other had this card and later became unsecured and got CLI's. If you have the offer, I would strongly suggest getting these cards. BOA is a prime CCC and you'll be very happy with this cards.
Regular Contributor

Re: Bank Of America 99/500

Yelp,
There were alot of folks just talking about that last week. Think the thread was bofa emerging??? They convert to unsecured! If they offered the 99/500 better jump on it. Everyone does not get the offer.


Message Edited by ash4557 on 03-07-2008 09:49 AM

Message Edited by ash4557 on 03-07-2008 09:50 AM
Senior Contributor

Re: Bank Of America 99/500

To be honest with you, I didn't even KNOW that BoA offered a 99/500 card EXCEPT the Visa Platinum Partial Secured card(the 99/500). That's news to me! I wonder if they are brand new products they are offering?

If they counter offered those 2 cards to you, I'd say go for it in a hurry. I have the Visa Platinum 99/500 card and am hanging on to it, for it to be unsecured in 6 months or so.
"Never ever, ever be late. Never" (FUTR)
Moderator Emeritus

Re: Bank Of America 99/500

I agree.  I'll just repeat here what I've said several times.  If only I had known about this card when I needed a secured card, I wouldn't still be stuck with this ridiculous secured I still have.  (Starts with "O" and ends in "rchard".)
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Moderator Emeritus

Re: Bank Of America 99/500

I had posted that I had two 99/500 offers back in November. You are doing it right.
 
A rep told me I could accept both offers. Feeling leary, I accepted the one I wanted (a 3rd party BofA-backed card) and held off on the other. After the money cleared and the inquiry dinged, I mailed the second offer back for the Plat. Plus, but was denied because I already had accepted that other card. To bad BofA reports so quickly. It cost me 4 inquiries, not to mention the two inquiries from the failed attempt at the fully secured card 3 mo. prior.
 
Letter states:
 
"Thank you for your request for the BofA Plat. Plus Visa [99/500 counter-offer].
 
Unfortunately, after careful review, we are unable to approve your request because the amount of credit extended to you by us and/or our affiliates is adequate......."
Frequent Contributor

Re: Bank Of America 99/500

I was offered this card when I went in to deal with an excessive overdraft - they're trying to me to link the card as Overdraft protection. I'm going in Monday to finish fillinout the application, as I was approved, but just need to sign the cardholder agreement.
 
I didn't know I could get a WorldPoints partially secured card, I'll ask for that or the Platnium Visa. I've been able to handle all of my CC payments for the past 4 years. My biggest hits dated back to 04, when i was unemployed for 9 months -- those negative hits (late on car payments, CO then negotiated settled Cap1, Chase, Citi and Providian) just linger and hold my scores down. All of the COs occurred in 1/06, so I figure now I can apply for stuff as my scores probably went up as it's been two years since the major damage was active.
Frequent Contributor

Re: Bank Of America 99/500

Smiley Happy I just got mail
 
YOU ARE ALREADY APPROVED ( SECOND TIME I HAVE )
 
PLEASE RETURN THIS FORM WITH YOUR CHECK FOR 99 AND YOUR CARD CREDIT LINE 500
 
ANNUAL PERCENTAGE RATE 20.24%
ANNUAL FEE $29
 
WHY DO I NEEDS THIS CARD FOR ?
 
I'LL WAIT  2 YEARS THEN REAPPLY . NO MORE APPLICATION FOR ME .
 
ANYWAY THANKS YOU GUYS . Smiley Happy
 
REASON : YOUR CREDIT REFERENCES HAVE NOT BEEN ESTABLISHED FOR A SUFFICIENT LENGTH OF TIME .