BoA Secured CC Question

[stoopidmunkee]

I've had my BoA secured CC since 2009.  It started out with a bal of $300 and about maybe a year or so ago I added funds to it so it's currently at $500 limit.  I know it's not much, but it's something.

Would anyone know why I haven't been switched over to a non secured CC?

I've never been late on a payment and have only been over my limit once and that was like two years ago and I paid that down the next day, since it was the AF that was applied to the account.

I've looked at BoA's website and read info about their secured CC which I'm sure is the same terms as the card I have which is:

• Establish or rebuild your credit history with reporting to the 3 major bureaus
• Ongoing credit education provided to help build a successful financial future
• Provide a security deposit of $300-$4,900 and your credit line will equal the amount of that deposit.
• Account reviewed after 12 months for eligibility to upgrade to an unsecured card and a refund of your Security Deposit
• Request a tap & pay device, including an additional card with built-in tap & pay functionality, to make fast and secure transactions

Should I call them about this?  I don't want to have a secured CC that has an AF.

[ontop]

IMHO, you should call, it wont hurt

I started with them last year and within the first 6 months I called, got a declined but they said will review about it again after 12 months. So I leave it alone and go into garden mode. After 10 months (4 more months from the initial call in), I received in my mail box a full refund of my deposit and graduated. All done automatically this time.

[stoopidmunkee]

Thanks for the info about that, so did you just call the plan old customer service number on the back on the card?  Also when you graduated out of the secured account did they close that account or just change it to an unscured card?  I'm slightly worried about them closing it since that's my oldest line of active credit on my report and I know that's part of the reason of why my credit is so low, my age of credit isn't that high last time I checked.

[-Cain-]

I'd call. Try the backdoor number in the sticky thread.

[ontop]

Hi stoopidmunkee,

You migh want to call the backdoor number like Cain suggested. This is the exact number that I called when my card was 6 months old: 1-888-260-4696

I cannot answer your second question about the closing account after graduation, because I just got my deposit back plus the congrats letter from them only a few days ago. I have not seen the changing in status in my online account though. According the letter they sent, everything should stay intact like my account number ect. Will update if needed.

[flyingmd]

They dont always automatically convert to unsecured. But once you have had the card for 12 months, if the account has been paid on time at all times, they will convert. I would call the backdoor number. Once they convert, give it a month and then call backdoor again to ask for a CLI. Good luck. Let us know.

[stoopidmunkee]

I just want to say thank you for all the advice!  I called they switched me over to a regular account which I'm super pumped about...I forgot to ask if there is still an AF on the account. 

But she basically said their computer system is suppose to auto graduate people to a regular card based off their payment history.

But with me since I would pay the min balance for a few months and then pay off the card several months back to back the computer never recognize that in the system to switch me over.

Plus they are putting my money right back into my savings account since I have an account with them, within the next 24-48 hours!

[dude11]

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@stoopidmunkee wrote:

I just want to say thank you for all the advice!  I called they switched me over to a regular account which I'm super pumped about...I forgot to ask if there is still an AF on the account. 

But she basically said their computer system is suppose to auto graduate people to a regular card based off their payment history.

But with me since I would pay the min balance for a few months and then pay off the card several months back to back the computer never recognize that in the system to switch me over.

Plus they are putting my money right back into my savings account since I have an account with them!

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I wanted to ask you about the automatic switch over. Do you know if they want you to carry a balance each month and pay at least the minimum for the next 12 months after opening it or do they want you to pay in full each month?

[stoopidmunkee]

From what the woman told me she said it looks better to carry some type of balanace.  That's why my account never trigged the system to graduate me from a secured card. 

My history with this card currently is I don't really ever have a balance and when I'm close to maxing the card out I usually pay it off, which casued the issue.

[Datx]

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@stoopidmunkee wrote:

From what the woman told me she said it looks better to carry some type of balanace.  That's why my account never trigged the system to graduate me from a secured card. 

My history with this card currently is I don't really ever have a balance and when I'm close to maxing the card out I usually pay it off, which casued the issue.

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Thats good to know. I have PIF each month for the last few months now. Congrats on getting it unsecured by the way. I'm still uncertain on how BOA handles unsecuring the secured card. Do they issue you a new card and close your secured card?