Credit Cards

[ABattle]

I'm trying to rebuild my credit & want to try this card.  It is stated that afer a year your haistory will be reviewed & you could possible by switched to an unsecured credit card.  I'm wondering if all secured credit cards are a guaranteed that you will get them or if I will still have to go through a verification process.  My current score is 623, but I have no open lines of credit & the ones I previously had, didn't have good payment history.

[jesslyn]

This is a very common secured card, and one that is often recommended on this forum.  There's a search box in the upper left, so you can plug in your terms to find other folks' experience.  Also, head over to the credit card part of the forum to get even more details.

These cards usually graduate after 1 year of on time payments.  The creditors will still do a credit check on the front end.  With BoA, I'm not sure if you can apply for the secured card.  I think you may have to apply for the unsecured, and then if rejected, they may offer you the secured card.  I would poke around the BoA site to see what you can find.

[clocktick]

You can directly apply for the BOA secured card.  You can put down anywhere between $300-$10,000.  You can do it all at once or add some along the way.  From what I've read on here, it will graduate between 9-12 months usually on its own.  Some call to have it graduate.  They pulled Experian only for me.  They charged the annual fee about 3 weeks after the card was opened.  Here is more info and the direct link for you to apply from.

[Koffee]

If  anything hits your credit report, you must wait another 12 months before graduating. I was suppose to graduate last month, however I had a dispute with my old apartment complex and they billed my $7k for water damage.  It hit my report in January 09, so I must wait until Feb. 2010 to graduate.....as long as nothing else hits the report.

[breakthecycle]

I had a low 500's score when I got accepted to the BOA secured card.