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Established Contributor
bahbahd
Posts: 731
Registered: ‎08-12-2011
0

BofA Secured reports as?

I've gotten some conflicting information while searching around to see how BofA Secured cards are reporting on CRs now. Are they reporting as secured or regular cards?

New Member
Funschoolermom9899
Posts: 6
Registered: ‎08-08-2012
0

Re: BofA Secured reports as?

Word is , they didn't used to be reported as secured but now they are.

Frequent Contributor
OhioCPA
Posts: 471
Registered: ‎03-29-2011
0

Re: BofA Secured reports as?

Mine reported as secured from 2008 until it unsecured in 2011. This likely would only be an issue on manual review.

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Contributor
tboy1977
Posts: 221
Registered: ‎07-11-2012
0

Re: BofA Secured reports as?

+1

 

At a few years ago, they advertised that no one will know your card is secured but you and BofA.  Now!  They tell!  Grief.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Established Contributor
bahbahd
Posts: 731
Registered: ‎08-12-2011
0

Re: BofA Secured reports as?

You wouldn't happen to know any secured cards that don't report as secured, would you?

Contributor
tboy1977
Posts: 221
Registered: ‎07-11-2012
0

Re: BofA Secured reports as?

None of mine do.  CapOne, PNC, NFCU and Coke.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
0

Re: BofA Secured reports as?

Bofa secured generally reports as secured.  Many do not.  Fico scoring doesn't care about secured or not.  However, cc internal models might or manual review might.

               LIMITS IN CARD DESCRIPTIONS
Valued Contributor
rootpooty
Posts: 1,772
Registered: ‎10-28-2011
0

Re: BofA Secured reports as?

For starters its prob the best secured card out there cause you can add the 123 rewards to it. Second if you need the secured card then chances are your not going to be in primeland anytime soon and by the time you make it there you should be able to graduate the card which will no longer report as secured.  I say go for it and dont worry about it being reported as secured for the time being

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Established Contributor
sjt
Posts: 721
Registered: ‎05-05-2010
0

Re: BofA Secured reports as?


bahbahd wrote:

I've gotten some conflicting information while searching around to see how BofA Secured cards are reporting on CRs now. Are they reporting as secured or regular cards?


Like others say it reports as secured, but it doesnt matter how they report it because it doesnt effect the scoring.

 

New Member
CuervoSucio
Posts: 9
Registered: ‎08-08-2012
0

Re: BofA Secured reports as?

I just got a boa secured card with 500 limit.
Rootpooty can you explain the 123 rewards for me?
Thanks
Trans-583 Exp-626 Eq-???
8/12/12: Trans-679 Exp-??? Eq-622
Goal:700+
Wallet: BoA Secured: $500

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