BoA Secured Rewards.... should I do it?

[Anonymous]

Earlier in the month i applied for the BoA Rewards Card, why you ask, because i got cocky and i was just approved for a Discover it and Walmart MC, both $5,000 cl's.

So of course BoA said NO, i did recon, she said yes $500, ok I'll take it, then my letter came and said after further review NO. Lol.

But they said ... all is not lost my, lil bankrupt friend. .... we will give you that card for a small deposit of $99, w/ a $500 cl.

So my question is, is this worth it .... another account dropping my AAoA , a low limit for a year.... is it worth it just to get in... and if i get in will i have a better chance for other cards or will my BK keep holding me back for 6 more years... when i filed BK, i only did on medical bills, no cc's... so they or any other ccc has been burned by me.

Just looking for sound advice, i do have pretty decent cards, less Corrupt 1, who im getting rid of next week.

[Anonymous]

Btw i have never had a secured card before.

[ddemari]

Its an interesting predicament for a few reasons. 1, you have good scores, 2 you have some good cards and goo limits. but you do have the semi-recent bankruptcy. I had a secured card with BOA that graudated early at 7 months, via my hardpull request and I had a 9 1/2 year old bankruptcy stil reporting. the rep. talked about the bk and wanted to know about it. then she unsecured me and didnt give me a cli or anything. 

I guess what I would want to know is, and I dont remember what their policy is on BK. For example, if they are going to unsecure you down the road, will the BK be an issue because it is X old? 

Or would it not? if that the case, id do it because you can build your relationship and get your foot in the door. I had eventually gotten a CLI on the card and annual fee removed and apr decreased. so they are good to have around. 

[creditguy]

It's easy to get a little arrogant after some nice approvals, but leave it to BofA to bring you back to reality. Well the question is do you want to build a relationship with BofA? If so go for it. It's a really good way to start a relationship that has no limit. If you treat them right they will return the favor. They can and do graduate early and provide nice CLI's. Of course it's a YMMV thing but its entirely possible.

[Anonymous]

But, i guess my question is will they approve me for other cards before my bk is off, after i have established an excellent relationship with them?

I am really looking to get into a good miles card.

Just not sure about there bk policy with existing customers.

Thanx for all your help peps !