05-12-2012 12:23 PM
Hey everyone, as you can see I'm new to myFico and the forum. I applied for a Bank of America Cash Rewards Visa the other day and was denied, but they offered me a partially secured card for the 99/500 deal. What they are sending me is a BankAmericard Cash Rewards Platinum Plus Visa card, but I had to put a 99$ deposit down for it. Has anyone else received this offer, and is it a good card? I've just recently started trying to build my credit back up and have become very interested in the whole "hobby" of doing it. Oh, I also was accepted for a Capital 1 Secured Card on a 49/200 deal. From what I've read the Cap 1 isn't the best of cards, but hoping it will help me in my goal of raising my credit score. Thanks in advance for any insight on these two cards.
05-12-2012 12:36 PM
05-12-2012 12:39 PM
I remember seeing way more posts about the 99/500 secured deal a few years ago when they were really popular. I think you got a fantastic deal, though. After around a year it'll probably full unsecure and you'll get your deposit back, and they'll likely double the limit (unless that policy has changed). If it's the same as the 3-2-1 card then you also have a very good rewards program for a secured card.
05-12-2012 12:48 PM
Yah, the rewards offered are 1% on very thing, 2% on groceries and 3% on gas purchases. I believe this is the same rewards that you are speaking of. At the time I was accepting the offer, I didn't relize it was for a rewards card. I'm pretty excited to of received this great offer. I've been reading alot on here about util and gardening etc. So I believe I'm ready to make the best out of this. The best thing is, they have already reported my credit line to the bureaus and my scores have already gone up considerably.
10-19-2012 11:54 PM
That's a great offer. When I got my secured card I had to deposit 100% of the credit line. But my card is still a really good deal for someone looking to build a credit history, thanks to the rewards. Not many other secured card has cash back rewards, while this card is essentially the BankAmericaCard that requires a deposit and an annual fee for the first year.
10-20-2012 01:19 AM
congrats, BOA is a descent bank to start with. It will grow with you, GL.
10-20-2012 03:21 AM
I Got The Same Exact Deal (99/500).
Live ahead It For A Few Months Now, And use It Mostly For Filling Up My Gas.
That Gets You So Much Money Back.! And You Can Get A Mobile pay Tag To Stick On Your Phone, Which I Think Is Pretty Cool.
Lid Say Go Ahead And take The Deal.
10-20-2012 10:55 AM
Forgot to mention that BofA also has Add It Up and BankAmeriDeals programs for even more, generous cash back.
10-20-2012 11:45 AM
its a good card ive already redeemed $100 since i had this card of october of 2011.
12-17-2012 07:36 AM - edited 12-17-2012 07:41 AM
I received this exact deal on last Friday to my surprise. Even though I didn't end up getting the Signature card, I'm very pleased to have gotten this offer. I do have a question questions tho:
.01 Is there an introductory APR offer 0% for 12 mos for this card?
.02 Will I be able to convert this card to Points? Cash Back is nice but I actually prefer redeeming for points instead.
I also received the CapitalOne $49/200 card earlier this year and it has been a tremendous help on my credit score. I pay off the balance every month and they increased my credit limit to $300 after 6 months. Now that I have the BOA card I plan on using the Cap1 card as a back up.
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