Bank Of America Secured Question

[Anonymous]

Hii Everyone!

I have a question, when the secured BOA card graduates to unsecured,  is it then considered prime??

[Anonymous]

It depends on how you manage your account and your credit scores. I started with a BoA secured card with a $400 CL in 2013. It was upgraded to an unsecured Platinum Visa card approximately a year later and they mailed back my deposit. Not sure if this card was considered prime or subprime. To me I would consider it subprime since it did not have any reward earning opportunities associatedo with it. 

Fast forward to April 2016.... thanks to the information and advice on MyFico I requested to have the card upgraded to a rewards card but my request was denied. I decided to ask for a CLI instead.  It was a HP but I was given a CLI from $400 to $5k. 

A week later I decided to request for an upgrade again and this time my request was approved. I now have a BoA Cash Rewards credit card. It took 4 weeks to get the card but I have now and am using it for gas and groceries. 

[Anonymous]

Okay Thank You!! Ive been using my card and making sure it reports a zero balance. I have a few other cards that I take care of as well. I only let capital one quicksilver report a balance. I was wondering if all this effort contributes to the effect of the graduation staus. Lol. Thanks again

[morgacj2004]

I had a secured Cash Rewards card with a $500 limit. Got it 10 months ago. Called today and requested it be unsecured  Rep did SP and approved my req. Card now unsecured with a $1500 CL. I will apply for the AK Air Siiggy in a few months!!!

[Anonymous]

Here's how I did it your talking to a boa charge off expert as I have one with them. I applied and was approved by recon (lucky). I deposited $4K it graduated on its own in exactly 12 statements (Months) I requested for the cash rewards conversion took about 6 tries now I'm working on getting it to being a signature Visa $5K CL minimum sadly my CL has always stayed at $4K

[Anonymous]

Now for the biggest tip I have for you. cincgurl just make a few mulitiple payments every month and leave a few dollar on the account before the statement cuts and never go over 20% of your cl do that and you'll see what happens.

[Namaste7]

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@Anonymous wrote:

Hii Everyone!

I have a question, when the secured BOA card graduates to unsecured,  is it then considered prime??

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BofA is a prime bank. The BankAmericard (unsecured, fully or partially secured) is NOT in their top tier of CCs. I don't think BofA targets the subprime market so I'm hesistant to call any of their products subprime; they use the secured product to find ways to expand the customer base to those who will eventually meet their base line requirements for the other cards but do not at the time of applicaton. At the end of the day, a positive BofA tradelne is not bad to have on your CRs.