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Valued Contributor
rootpooty
Posts: 1,690
Registered: ‎10-28-2011

Re: Bank of America Secured Card - Approved??

I know it sounds dumb but I've heard great success stories with bofa secured graduation plus I've cleaned up my reports tremendously so ill take a few hard pulls from them if need be
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Community Leader
Valued Contributor
-Cain-
Posts: 1,283
Registered: ‎04-06-2011

Re: Bank of America Secured Card - Approved??

I agree. BofA will/should grow with you. It's worth the trade-off IMO.

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


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Moderator
Revelate
Posts: 8,139
Registered: ‎12-30-2011

Re: Bank of America Secured Card - Approved??


-Cain- wrote:
Yeah, I asked about it once, they said they had to since the original terms would be changing. I think it is pretty harsh, but if the card grows long-term, I'll take that trade-off.

Hrm, guess will see where I'm at come August: was debating putting more money in to increase the CL for all of the usual FICO scoring reasons, and since I'm re-financing my car at that time anyway, might as well eat the inquiry damage if putting off condo shopping till the following year (which appears to be a forgone conclusion currently).

 

Thanks for the heads up, any idea if it changes their graduation policy?

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 703, TU 708, EX 702* (05/30/14, EX older)
Goal Score: 700 in all three (01/01/15)


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Community Leader
Valued Contributor
-Cain-
Posts: 1,283
Registered: ‎04-06-2011

Re: Bank of America Secured Card - Approved??

From what I've gathered, upping CL shouldn't affect graduation timeline.

I'll add that graduation is not 100% automatic, nor guaranteed, but is the norm.

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


Take the FICO Fitness Challenge

Moderator
Revelate
Posts: 8,139
Registered: ‎12-30-2011

Re: Bank of America Secured Card - Approved??

Yeah well I've been graduated once before with a weaker credit report and score than I have now, I suspect it'll happen again for me :smileyhappy:.

 

Was mostly just an idiot for letting the card lapse when it came to renew.  Ah well, if I didn't have issues I wouldn't have been here to gather all these nifty bits of information from you and others, thanks again!

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 703, TU 708, EX 702* (05/30/14, EX older)
Goal Score: 700 in all three (01/01/15)


Take the myFICO Fitness Challenge
Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Re: Bank of America Secured Card - Approved??

Strange, it showed up on my transunion.
Member
fixthismess10
Posts: 6
Registered: ‎10-17-2011

Re: Bank of America Secured Card - Approved??

I just got this message as well.  Which phone number can I call to find out?

New Member
Tlvandewater
Posts: 9
Registered: ‎05-07-2013

Re: Bank of America Secured Card - Approved??

I haven't received any emails or letters, but about a week after I applied the debited my account..... I'm assuming approved?
New Visitor
HoumaCrawfish
Posts: 1
Registered: ‎08-19-2012

Re: Bank of America Secured Card - Approved??

I think that if you have approved acconts with Chase... Citi... Cap One.. Barkleys.. with HIGH credit limits.. approval for a BOA card with a SECURED limit of $300 to $10000 is really going to make the big dogs scratch their heads.....   I applied for a BOA cash rewards card and recieved a letter that I was denied that card but... preseleceted for the secured card....  I trashed the letter ..and stood by Chase ($6K)  Citi (7K) Barkley (3.5K) USBank (3.5K)  AMEX ( 7.5K) .... BOA needs to take a walk.... 

 


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