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Established Contributor
Posts: 930
Registered: ‎10-02-2007
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Bank of America Secured Card Graduation Question...


I filed BK CH 7 may of 2009 and it was discharged in Sept 2009.


In my BK I included Bank of America.


I just applied and was approved for their secured card.  I was thinking of putting 5k down on the card.


Here is my concern:...when it comes time for them to graduate the card they won't because of my history and BK

(I had a wells fargo secured card for two yrs and it never graduated...paid on time, never over CL)


Has anyone had their BofA secured card graduate with a bk on their credit file?




Epic Contributor
Posts: 29,452
Registered: ‎10-23-2007
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Re: Bank of America Secured Card Graduation Question...

I opened my BofA Secured While in my Ch 13 with $1k... at 10 months a "senior analyst" graduated it and increased the CL to $1500.  About 7-8 months later I called in and asked about rewards and Hard or Soft pulls for CLI... that was it... asked, was on call less then 2 minutes... next day out to lunch with mom and card was declined... called and was told it was closed due to information on my credit file... got transferred to underwriter and I said I have had this account for like 16 months and have never carried a balance and my scores had gone up at least 40 points why would you close it!~


I was told they changed credit standards and were reviewing all accounts and I no longer qualified to be a BofA customer under new BofA guidelines


That same month my father saw his 2 BofA accounts get about 15k in CLD and my mom saw her 3 BofA accounts get about $22k in CLD


The boards here were BLOWING up with similar info at that time....


So sorry didn't really answer your question but 1 day you might get an analyst that says they have 5k limit and are doing fine, ignore the past they have rebuild, the next day you might get a conservative underwriter and they cancel your account before you can even blink!! Hard to say but I would not think they would want you as a customer after a past bad account with them.


Chase allowed WAMU customers to keep those cards when Chase took them over but if you applied for a Chase card and had bad history or BK with a Chase account they were declining instantly.

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Bank of America Secured Card Graduation Question...

There was a period in 2009( I think) when BofA discontinued the secured card and closed some secured accounts.  Later on they started offering it again.





Valued Member
Posts: 45
Registered: ‎05-18-2011
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Re: Bank of America Secured Card Graduation Question...

[ Edited ]

I filed for bankruptcy back in June 2002. Bank of America was not one of my creditors at that time.


In February 2010, I applied for and was approved for a Bank of America secured VISA with a $300 deposit. I called in November 2010 and was able to have the card unsecured because of my good payment history. My deposit was refunded and my credit limit was raised to $500. Meanwhile, I was approved for a Citibank credit card with no AF and a $3250 CL.  I had requested a CLI through Bank of America at several different times (online and calling customer service) and kept geting denied -- all the while having hard pulls on my EX report! I also inquired about getting the AF waived, but I was told I would need to apply for a totally separate credit card. That was before I knew about the MyFICO forums.


Fast forward to a few weeks ago. There's a number posted elsewhere on the MyFICO boards that will put you through to a credit analyst. I had no luck with the first analyst I spoke with regarding the $39 AF. I didn't even bother asking about a CLI. I hung up and called 5 minutes later and spoke with a different analyst who not only upped my credit limit to match my Citi card, but also was able to have the AF waived permanently. The analyst said she looked at my credit report, but I believe it was a soft pull because I haven't been alerted to any new hard pulls via my Citi IdentityMonitor or Equifax ScoreWatch subscriptions. Something else to keep in mind, which the analyst mentioned, is that I have a Bank of America checking and savings account. YMMV.

Starting Score: 10-2011 TU-08 FICO 725 (Walmart) / EQ FICO 683 (MyFICO)
Current Score: 10-2015 TU 780 / EQ 802 / EX 784 [Mortgage app]

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