Bank of America Graduation - March 2012?

[Revelate]

Ah, I actually went through this process a few years back (before I let the card lapse, silly me), you don't get a new card, they simply either refund your deposit by a check in the mail, or by depositing it into a checking / savings account if you opened it initially from one.

I couldn't tell you about PCing or what's involved, but if you're expecting another card in the mail from my experience you're going to be disappointed

[grigorexxxcore]

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@Open123 wrote:

LOL...no problem.  No matter what you do, don't add to it.  With BofA, any addition will be an automatic hard.

Your initial deposit isn't that important since you have some other cards.  I'll be they'll give you at least 3,500 cli.

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Haha, if I can really get Bank of America to bump be up to $3,500, or even anywhere near that, 2012 is going to be one amazing year, I now have high hopes!

[grigorexxxcore]

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@Revelate wrote:

Ah, I actually went through this process a few years back (before I let the card lapse, silly me), you don't get a new card, they simply either refund your deposit by a check in the mail, or by depositing it into a checking / savings account if you opened it initially from one.

I couldn't tell you about PCing or what's involved, but if you're expecting another card in the mail from my experience you're going to be disappointed

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Does the card still however become unsecure? And do they do any CLI for you?

[Open123]

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@grigorexxxcore wrote:

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@Revelate wrote:

Ah, I actually went through this process a few years back (before I let the card lapse, silly me), you don't get a new card, they simply either refund your deposit by a check in the mail, or by depositing it into a checking / savings account if you opened it initially from one.

I couldn't tell you about PCing or what's involved, but if you're expecting another card in the mail from my experience you're going to be disappointed

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Does the card still however become unsecure? And do they do any CLI for you?

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Yes, it unsecures immediately, and your deposit is refunded.

1.  If you decide to keep the newly unsecured card, then nothing further is required.  You keep your existing card with the same number.  Only difference now is that it's unsecured with a higher CL and your deposit refunded.  However, the annual fee will remain in perpetuity.

2.  When it unsecures, and after the CLI, if you request a change to a "cash rewards" card, a product change will ensue, and a new card with new number and agreement will be sent to you.  In the new agreement, it will list whether or not there is an annual fee.  If you're lucky, or if the analyst was proactive and gotten rid of your fee, then you're done.

3.  When the new card arrives, if in the agreement you see the annual fee, call back and request the card with a no annual fee contract.  

If you do nothing, they assume the annual fee remains.  It's a two step process to get rid of the fee.

Good luck!

[corymcd88]

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@grigorexxxcore wrote:

Hello everyone!

I've had a secured credit card from Bank of America since March of 2011, the time is almost here for me to call in and hopefully graduate my account!

I have a couple of questions/concerns;

1. When calling, I read that some people called the 888 number that was listed on the "back door" list, should I call that number or the number listed on the back of the card?

2. If they mention it is a hard pull, should I continue to call back since some people have had luck with just getting a soft pull?

3. Are CLI's usually given on the spot, or if I am denied for one, can I just call back a few days later and say I was not given one and I would like to be considered for one?

Here is my current credit info, do I stand a chance of getting my unsecured card?

I.  AAoA: 2.5 years

II. No Baddies whatsoever

III. INQs (1 year span):

(EQ) 2 

(EX) 0

(TU) 2

IV. 20% UTL rate

V. Fako scores;

(EQ) 685

(EX) 698

(TU) 710

Thank you all again, you guys are all amazing help!

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I had the card bank in 06 and after one year you can call and they will look and see if they can upgrade you. Mine upgrated after one year.

[Revelate]

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@grigorexxxcore wrote:

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@Revelate wrote:

Ah, I actually went through this process a few years back (before I let the card lapse, silly me), you don't get a new card, they simply either refund your deposit by a check in the mail, or by depositing it into a checking / savings account if you opened it initially from one.

I couldn't tell you about PCing or what's involved, but if you're expecting another card in the mail from my experience you're going to be disappointed

---

Does the card still however become unsecure? And do they do any CLI for you?

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The card unsecured, but I didn't get a CLI.  Not surprising, as my deposit was $2500 anyway, but I didn't get a CLD either.