Posts: 16
Registered: ‎02-20-2009

Should I increase CL on secured BofA?

Ok, so I found out that I am, indeed, getting my secured BofA card. Yay!  My question is this... I only gave $400 to start and I can afford to put another $500 a month towards that.  Should I do it?  I could have a credit line of close to $5,000 by the time the card is supposed to be able to convert to unsecured. I'm just wondering if it makes a difference.



Frequent Contributor
Posts: 353
Registered: ‎01-29-2009

Re: Should I increase CL on secured BofA?

[ Edited ]
As long as you don't run a balance on the card, then ABSOLUTELY a higher CL will help your score.  And since you're essentially guaranteed to get the money back in 9-12 months, there's no risk.
Message Edited by PayingTheBills on 02-24-2009 12:20 PM

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Registered: ‎10-23-2007

Re: Should I increase CL on secured BofA?

I started with 500 and then sent in another $500 a couple months later.

Reports from people are when it unsecured they also got a cli of at least $500 and someone posted increasing there credit line to $2k the month before 9 months and it unsecured to $2500.  If you can part with the money for a while and make use of the credit line, I say go as high as you can. 

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Posts: 16
Registered: ‎02-20-2009

Re: Should I increase CL on secured BofA?

Ah, that's a good point!  Do they typically go unsecured for what your CL currently is?  If so, it would definitely be better to have a higher secured CL.

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