My Bank of America 99/500 card's 5th statement closed today so I called a credit specialist this morning to see if could be unsecured! Believe it or not... it was! I made this forum to see/learn about other peoples experience and questions with their 99/500 card. HOPEFULLY someone responds :-)
Was it a soft pull?
Was it a soft pull?
I wanna know also cuz i have secured card with them that i opened back in May. Been very good with it!
Thats a great question. The rep advised me that it will be another hard pull. There was a hard pull when i originally applied for the unsecured card first. Then there was a hard pull when i applied to the counter offer for the 99/500.Those were both only on Xperian. i checked my email this morning and was alerted that there was an inquiry on my Transunion. So far no inquiry on Equifax or Experian and none of the credit bureaus have been updated with my new credit line nor has "secured" been removed.
When i first opened my 99/500 i was told by a rep on the phone and also at a branch to use the card heavily and pay in full each month, so i have. Ive pretended basically that i was using my BoA debit card. In the past 5 months Ive accumulated $83 in cash back and spent close to $7k.
I used the fully secured BoA card in 2009 with a $500 deposite for a $500 limit, after a repo and completey tanking my credit to a score of 433. I didnt even know scores went that low! It graduated to unsecure 9 monthes later when I called to request it be done. I was also given a CLI to 1,000.
Fast forward to 2012, after hitting the CLI button each year since 2010 I have built my BoA original card to 7500 and just got the new Privileges Cash back(I think thats what its called) with a 10k initial limit. This on top of a Citi NPSL and REI Visa at 6k.
This is a great program they have for rebuilding. Use it wisely and it will reap huge benefits for you and your score. It just takes being on time every time, keeping low balances and patience.
I dont remember if it was a hard or soft pull when it graduated. It didnt matter, I didnt care. I just wanted to keep moving forward.
@ Little cat: thats amazing! That encourages me to keep chugging along at it! Although I have no need for credit limits that large, it would be wonderful to have!
@GA Brown: Yes it was unsecured. My credit limit went from $500 to $1500. (I requested $1500 to be modest...when i hung up i said dang i shouldve ask for $2k! LoL). Plus they are sending my $99 deposit back in about 7 business days and i get to keep the 123 cash back. Unfortunately i,ll still have the annual fee. The rep told me if i keep in the right direction that i can request to have the Annual fee permanately removed.