Bank Of America Cash Back 123 Secured Card ?

Andy77 · ‎08-22-2013

I was on the phone with the B of A secured card credit dept today and the woman on the phone told me she could PC my fully secured card to the B of A Cash Back 123 card, however, my card is still fully secured.

So the woman put me on hold for a sec and came back and said you are all set you should get your card in 7 to 10 days and you will have a new card number etc

Can the credit dept PC to any B of A product as long as your card you are PCing to is within the credit limits...meaning you can't PC to a Signature Visa if your credit limit is below 5k

I just did not know the B of A Cash Back 123 was available in a secured card...I am shocked

FinStar · ‎08-22-2013

@Andy77 wrote:

I was on the phone with the B of A secured card credit dept today and the woman on the phone told me she could PC my fully secured card to the B of A Cash Back 123 card, however, my card is still fully secured.

Can the credit dept PC to any B of A product as long as your card you are PCing to is within the credit limits...meaning you can't PC to a Signature Visa if your credit limit is below 5k

I just did not know the B of A Cash Back 123 was available in a secured card...I am shocked

AFAIK, yes... their secured products are offered in the no-frills basic card (or Platinum) and the 123 Cash Rewards type as well. But while a secured product, for instance, it cannot be PC'd to any of the other ones such as the Accelerated Rewards Amex, Travel Rewards, or other affinity products, etc.

Andy77 · ‎08-22-2013

Ahhh ok, thanks.....one other question...so when it unsecures, does the card PC again? Am I open to PC to anything at that point?

Andy77 · ‎08-22-2013

Another question...

I think I can up the credit limit on the secured card to 10k (the card was opened Dec 2011) what I want to do is up it to 10k and buy something for 9500.00 pay if off within a month then decrese the credit line to 5k

Would they go for that?

I only wanna up the CL for the cash back on the 9500 purchase

I would have a sizable amount of cash on hand witht he bank when I request the 10k increase, I would have about 75k liquid, not that that matters

Thoughts

FinStar · ‎08-22-2013

@Andy77 wrote:

Ahhh ok, thanks.....one other question...so when it unsecures, does the card PC again? Am I open to PC to anything at that point?

You bet. Once it unsecures, you are welcome to PC to any card you want (Travel Rewards with EMV chip, Acceleratd Rewards AMEX, Better Balance Rewards, etc). Test and see how you like your Cash Rewards and you can determine whether it fits your spending and reward patterns. If you decide to keep your Cash Rewards, there's a couple things that would likely occur depending how long you've had it secured. There's a possibility that as long as you've had a great payment history and your CR provides a positive history, then it may likely unsecure early (BofA will do an HP for that at some point) or you can wait until it unsecures on its own at the end of the term.

bellrod44 · ‎08-23-2013

I had a secured card with BOA and they unsecured it at 11 months. Also, about 4 months in they PC'd me to a 1-2-3 rewards card. Overall, I've been happy with this card - in fact they just did an auto CLI for me. I've been debating on apping for one of their travel cards, I just can't decide which one.

Cards in my wallet: BofA 1-2-3 Rewards - $3,000 (5/2012), Walmart - $350 (9/2012), Home Depot - $500 (10/2012), US Bank - $1,000 (11/2012)

mnosal9 · ‎08-23-2013

I have the BofA secured card converted it right away to 123 cash rewards, pay in full every month! I got early graduation only 8 months just chat with them and ask for a manual review for early graduation. Its an awesome card to have!

Starting: 6/2012 : EX: 485(FAKO) EQ: 490(FICO) Trans: 482(FAKO)
Current : 4/2014: EX: 650(FICO) EQ: 664 (FICO) Trans: 681 (FICO)

Cards: NPSL Amex Green (AU), $11500 Discover IT, $4000 Quicksilver One, $3500 Bank of America Travel Rewards,$3000 Amex BCE,$3000 Quicksilver One, $3000 AA, $2500 Sallie Mae MC, $5000 Citibank AA, $1500 Barclay, $1200 Macys
~Back to the Garden~

Goal Score: 700 Across!

Gardening til 8/2014!!

blazn225 · ‎01-13-2014

i have the boa secured... its my only (first) card at the moment. ive had it for about 4 months, and i just got it changed to a secured cash rewards and recieved the card. if i want it to graduate early should i let it report 9% each month or just pay in full?

FinStar · ‎01-13-2014

@blazn225 wrote:
i have the boa secured... its my only (first) card at the moment. ive had it for about 4 months, and i just got it changed to a secured cash rewards and recieved the card. if i want it to graduate early should i let it report 9% each month or just pay in full?

Unsecuring or early graduation is YEMV sitation and will vary by individual. There's no exact payment method that will provide an early guarantee for unsecuring. Just keep using your account as normal, whether you let 9% report or PIF every month is up to you.