@ojefferyo wrote:
@dk2003 wrote:So I decided to accept the 99/500 offer since I've received the HP. I should get something out of it! Well... I spoke with two different people and I understand that the minimum time frame is 5 months to request it to be unsecured although typically its a year. Does it show up in the bureaus as "secured". They actually called it "partially secured" when I spoke with them. The seem to be similar to Chase with the whole, "we'd like to see more established history" thing.
What experiences have you guys had? Am I making the right decision? Are they difficult? I used to bank with them about 8 years ago and I absolutely hated it but I have a different expectation of the credit card...
ADDITIONAL INFO
I applied and was denied then offered the above. I've got other cards with 10K as my highest limit.
Do you carry high balances with other cards? BOA likes to see usage and big payments.
I have had high balances in the past, however, all of my cards received an increase and all of the balances are quite low, usually right a 30% or just below it.
@creditconcept wrote:
If you have established, unsecured, individual cards with 10K limit then obviously the BoA system made an error. Call and ask for a review of the application
I tried calling... it was still a no go 
she said the "would like to see more established credit", I've had one card over a year and another right at a year so :/
@newhis wrote:Yes, the BoA secured will report as secured, actually it will show 'Secured Card' in your reports.
That will not affect the oportunity to get new cards. After only 7 months with a secured card and Discover Amerx approved me for a PRG with 50k MR bonus.
Are you getting the cash rewards version? That gives 3% gas, 2% groceries, 1% everything else. If you deposit the cash back to BoA account they will give you 10%, so 3.3, 2.2 and 1.1
As you have other cards with 10k limits, I'll say wait until your 6th statement, ask for graduate (HP on TU) and call and ask for a CLI with the same pull. You have up to 30 days to use the same pull to ask for more limit. Some people report big increases on their BoA cards, so they ask for 25k when asked for the new limit, they will counter so no worry about a denial for asking too much.
I think it is the cash rewards card (at least thats what I saw). Let us discuss that 6th statement, graduation and CLI. Is it that simple? Since I have a 10k card it is my hope that this one will be as well!
@jim44 wrote:IMHO Excellent card to have. Asked for and received a graduation today... a little over 9 months. Showing a secured card on your reports does not hamper being approved for other unsecured cards or auto loans. My card is Cash Rewards but my deposit was my limit. When reviewing for graduation, I mentioned my deposit/CL was low which amounted to high utilization each month. The CA gave me a 1k limit which is still low but recommended another review in a few months after more payment history.
I like their Amerideals... even though they have time limits, my SO works for Whole Paycheck and took advantage of the 3% CB. We also frequent Chili's which ran a 10% CB for a few months.
Congrats on the graduation 
So... I have to know... do you have other cards as well? Or is this your only one!! How much was your deposit? Did you carry a balance?
I had been previously denied the BoA Secured card in the past and then some how I got an email from them at the end of the year saying I'd been pre approved for a card with them. Went to the website and app'd for a regular card, was denied but offered a secured card. Had an extra $300 in the bank(which don't happen often) and said why not. So far I love the card and with the extra points for gas and groceries, I only use it for groceries and purchases at gas stations. Also I believe I have 0% APR for a few months so I'm trying to pa things down as quick as possible before intrest kicks in. Hopefully it'll graduate sooner than later and I can move on to establish history with another prime bank.....The saga continues though on my quest to $0 balances reporting on ALL cards.
