Bank of America Counter Offer...should I bite?!

[GoodCreditIsMyGoal]

I applied for a Bank of America 123 credit card last week and did not receive instant approval, but today I received a couinter offer in the mail.  They offered me a SECURED Bank of America 123 credit card.  My issue is...I have an almost two year Secured Captial One credit card that has served me well because after one year I was able to get approved for a Chase Freedom, Discover More, AMEX Zync.  All my accounts have perfect payment history and I have no baddies.  So I thought my days of "secured" credit cards were long over......do you agree??!  I mean, I thought about taking their offer, but a part of me feels getting a secured card at this leg of my journey is sorta going backwards.....any thoughts? 

[CreditPacMan]

Call the backdoor # and try to recon. They were nice with me when I called after a denial.

Do you happen to know the reason the denied you the unsecured card?

[GoodCreditIsMyGoal]

They said on the letter Not enough accounts opened long enough to establish credit.  Jeesh!!! My Cap 1 is almost two years old with perfect payment history!  I also never maxed it out or anyting.....BOA just doesn't like me! LOL!

[injustifiiable]

Was it the $99/$500 version?

[CreditPacMan]

You'd probably get approved if you call and recon.

I had a late payment on my report that was the reason for the denial initially. I called and explained the reason I was late and they approved me. The limit is low but it a start

[GoodCreditIsMyGoal]

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@injustifiiable wrote:

Was it the $99/$500 version?

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Umm darn I'm not sure....the letter says "BankAmericard Cash Rewards" is what I applied for...and it says I've been preselected for the Secured version.  I just assumed it was the 1,2,3 because the letter said accepting the offer is as good as 1, 2 ,3 ! LOL!!!

[injustifiiable]

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@GoodCreditIsMyGoal wrote:

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@injustifiiable wrote:

Was it the $99/$500 version?

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Umm darn I'm not sure....the letter says "BankAmericard Cash Rewards" is what I applied for...and it says I've been preselected for the Secured version.  I just assumed it was the 1,2,3 because the letter said accepting the offer is as good as 1, 2 ,3 ! LOL!!!

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If it's the $99/$500 version I'd bite. With the 1,2,3 cash rewards, it's one of the better secured cards out there. Give it a year and it should unsecure itself and get a CLI. I'd try the recon on the unsecured first, though.

[GoodCreditIsMyGoal]

The letter also says my FICO score (Experian) is 677. 

[GoodCreditIsMyGoal]

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@altayar wrote:

You'd probably get approved if you call and recon.

I had a late payment on my report that was the reason for the denial initially. I called and explained the reason I was late and they approved me. The limit is low but it a start

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+1....I agree! It's a good start!  I will give them a call tomorrow when they open to see about a recon....what can it hurt...afterall, I already took the inquiry, right! :-)

[GoodCreditIsMyGoal]

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@injustifiiable wrote:

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@GoodCreditIsMyGoal wrote:

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@injustifiiable wrote:

Was it the $99/$500 version?

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Umm darn I'm not sure....the letter says "BankAmericard Cash Rewards" is what I applied for...and it says I've been preselected for the Secured version.  I just assumed it was the 1,2,3 because the letter said accepting the offer is as good as 1, 2 ,3 ! LOL!!!

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If it's the $99/$500 version I'd bite. With the 1,2,3 cash rewards, it's one of the better secured cards out there. Give it a year and it should unsecure itself and get a CLI. I'd try the recon on the unsecured first, though.

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Yeah, I'm thinking more and more and I may bite.  Just trying to figure out how much I should open it with......My Discover More is $1500 so I'm thinking it should atleast be that......not sure.