Credit Cards

[goose3500]

I was wondering can anyone answer this question for me, I was looking to get a secured credit card to rebuild my credit.  I heard bank of america is the best one available but i currently owe them 4000.00 that falls off my CR Feb09.  So the question that i am asking, is will BOA give me the card or deny me or are there other secure cards that are as good as Bank of America. thank you

[UpTheDernCreek]

B of A will deny you a secure CC. Why don't you try a credit union or another bank that you already have an account with. I think that I may have read somewhere in the forums that Chase or Citi may have secured cards. Do a search for "secured cards" and see what you come up with. Good Luck to ya!

[anca21bi]

I bank with Wells Fargo and they have a secured credit card that follows pretty close with BOA.  I owe them too, and since Wells Fargo gave me the opportunity checking account I will refer them everywhere!

[lurknomore]

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goose3500 wrote:

I was wondering can anyone answer this question for me, I was looking to get a secured credit card to rebuild my credit.  I heard bank of america is the best one available but i currently owe them 4000.00 that falls off my CR Feb09.  So the question that i am asking, is will BOA give me the card or deny me or are there other secure cards that are as good as Bank of America. thank you

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I agree the BofA secured card is awesome, but BofA will definitely deny you as long as that delinquency remains on your report so save yourself an inq.  You are not, however, doomed to a BofA-free existence as BofA seems willing to "kiss and makeup" once the delinquency is gone from your reports so I would definitely wait until it drops off.  As far as prime lenders go, I hear Citi also has a secured card, but I don't know anything about it.  Hopefully others will chime in.  Good luck!

[Uncle_Money]

Hi goose,

I'm not sure of BOA will decline you since they can't get hurt on the deal, but I can tell you it is a good choice for a secured card. That's how I began to rebuild my credit a couple of years ago. They report promptly with all 3 bureaus, and after one year they will unsecure it. BOA is also VERY generous with credit line increases. Shortly after they unsecured, the CL was raised to $3,000 and now I have 7,200 with them.