I just mailed my app for a B of A secured CC yesterday, but now I am scared after reading some posts on here that I will not qualify. My scores are listed below, I have 1 CC with 4 lates that has been PIF but closed by grantor, 1 CC that is now current but has 12 lates, and 5 collections ( the latest from 9/07). Any opinions? Also if anyone has any suggestions for a different secured card that I may qualify for, please let me know?
I would look to start repairing first, your scores are too low to get something worthwhile. Once you have your scores in the high 500's, you should be good for a BoA secured card. Start working on your most recent baddies, anything 2 years old or less.
My first secured card was with WaMu. They require a deposit on the card, minimum $500. Their service is outstanding though, I'm very happy with them. Their online credit management tools are pretty usefull too, including a free monthly update on your TU credit score.
I had many more problems with BoA to get a card... might be worthwhile to check out WaMu if you're shopping.