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How long should it take to be approved?

Frequent Contributor

How long should it take to be approved?

I applied yet again for a secured card and havent heard anything in about 10 days. How long does it usually take? I called a backdoor nymber to ask but they said it was pending they never seem to understand =(. Its the Bofa Secured card. I already have one "to my suprise" that will never graduate and that didnt require a deposit. So im wondering how long does it take to actually be approved and if I were denied wouldnt I know by now. I applied once before in March and got denied the same day due to a collection that said it was unpaid but was. Thanks you guys
5 REPLIES
Senior Contributor

Re: How long should it take to be approved?

Let me understand.

 

You have a BoA "secured card" which is active/open, AND you can charge on it, and you pay the bill, BUT you do not have a deposit?

 

Then this is not a secured card, it is unsecured.  A deposit is the very definition of secured.  And if you don't have a deposit, then what is it going to "graduate" to?  Ordinarilly to graduate means going from a deposit to no deposit.  You don't have a deposit, thus nothing to graduate.

 

As for your current application, 7-10 business days can be normal (which would be 2 calendar weeks).

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Frequent Contributor

Re: How long should it take to be approved?

It actually is a secured card that didnt require a deposit. I thought it was unsecured until I requested a credit limit increase. But I will give them a call next wednesday because it shouldnt take longer than 3 weeks
Established Contributor

Re: How long should it take to be approved?

I'm confused. How do you have an unsecured card with no deposit?

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Frequent Contributor

Re: How long should it take to be approved?


tempusfugit123 wrote:
It actually is a secured card that didnt require a deposit. I thought it was unsecured until I requested a credit limit increase. But I will give them a call next wednesday because it shouldnt take longer than 3 weeks

Smiley Very Happy I hate to have to rain on the parade.......BUT ..ahhhhhhhh Bank Of Scamerica is being very stingy with credit limt increases. They are giving decreases at this time.Smiley Sad So i wish you luck.

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Senior Contributor

Re: How long should it take to be approved?

The secured card application process at BofA is very slow! Be patient. If it is going to happen it will,,, eventually.

 

Wait 'til they approve you and you send them a check to set up the account. I heard that it can take them over a month to deposit it and get you your card.