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Regular Contributor
creditchief
Posts: 181
Registered: ‎07-24-2007
0

BoA secured card question

I know this may sound stupid but does BoA pull a hard inq. for the secured card ??

Starting Score: 550-tu 550-eq
Current Score: 745-tu 777-eq (ex-736 lo)
Goal Score: 800-tu 800-eq


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Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: BoA secured card question

Yes, they will pull a hard inquiry for a secured card. I had a 99/500 before they graduated and that product resulted in two hard inquiries (one for the unsecured app and one for the 99/500).
Regular Contributor
creditchief
Posts: 181
Registered: ‎07-24-2007
0

Re: BoA secured card question

Thanks llecs, Is it even worth it , the inq. and the cash for the account ?

Starting Score: 550-tu 550-eq
Current Score: 745-tu 777-eq (ex-736 lo)
Goal Score: 800-tu 800-eq


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Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: BoA secured card question

IMO, yes! Most definitely. Unless your scores are super high, the inquiry damage will likely be nil. You also get all of your deposit back after 9-12 months of great payment history. After they unsecured the card, then you are eligible for CLIs, of which they tend to be generous.
Regular Contributor
creditchief
Posts: 181
Registered: ‎07-24-2007
0

Re: BoA secured card question

Thanks again !!

Starting Score: 550-tu 550-eq
Current Score: 745-tu 777-eq (ex-736 lo)
Goal Score: 800-tu 800-eq


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