08-13-2011 08:21 AM
Does Cap1 report as a secured card? I see in the post above that BoA does, but I feel like creditors judge that it is secured so I don't know if I would want that part reported.
No, the Cap One secured card does not report as secured. When I started credit repair last year, I was also worried about what secured card reports as secured or not on my CR. But I dont see it being much of a problem now. I applied and got approved for a BOA secured card just a few months ago even though I have enough unsecured cards with higher limits. Just wanting to get back in the good graces of BOA again and rebuild a positive relationship with them.
08-13-2011 12:37 PM - edited 08-13-2011 12:38 PM
I too received the same online message and then a letter a week later stating I was declined due to my Experian CR/Score at the time.
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01-08-2012 12:20 PM
01-08-2012 12:23 PM
I applied online for a Bank of America Secured card the day before yesterday and I immediately received this message:
Thank you very much, we received your application. If approved you should receive your credit-building Secured Card 7 to 10 days after we successfully verify your information and process your security deposit. The longer you use your credit card and make your payments on time, the more likely you are to build a solid credit record.Thank you for choosing a Bank of America credit card.
I also got an email that says we've reached a credit decision - and it redirects me to the message above again. They haven't debited by account for the deposit yet so I don't know if I've been approved or not.
Anyone have experience with this? Am I approved or denied??? Would love to hear your thoughts!
Sounds like an approval, nowhere in that statement says denial.
01-08-2012 12:49 PM
01-08-2012 01:50 PM
01-08-2012 02:39 PM
Congrats kpresod & Welcome to the forums!
Keep I mind that if you are thinking about raising your CLs, it may result in a hard pull each time, so add wisely if you must. Your card should unsecure between 9-12 months, take care of it and watch it grow.
Usually a secured card gets a CLI by just depositing more cash: BofA does a HP for this? Ugh if so.
01-08-2012 02:54 PM
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