I was approved for a BOA secured card in Dec 2012 with a $300 CL. Even though additional deposits result in HP's I had still planned on increasing my deposit to $2.5k next month. I have read in a few post that after one year of good history this card will graduate to unsecured. So my question is: Is that one year from the activation of the card or one year from the date of last deposit?
That is a good question.
But its not always true that they will graduate your card after exactly the said period. It may not graduate it at all depending on how you use it.
I have a secured card and I have not added any money to it whatsoever just so that it doesn't mess with the graduation date. I use it sparingly not more than 15-20% of the 2000 limit.
Personally I too would like to know more about this. Its kind of mysterious.
adding money will not reset the graduation date at all. I opened mine on May 2nd and deposited more money through the year and just called yesterday and they told me card will be 1 year old on May 2nd and i could call that day and see if they were able to graduate my card to an unsecured one. I was told by 2 different CSR that they go by the day you opened the account.
I was just graduated at 9 months. Total suprise to me!
Received a letter in the mail one day saying I was graduated to an unsecured card, two days later I received a check reimbursing my deposit money.
My secured CL was $500 and it stayed at $500 when it unsecured.