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Hey everyone,
Coming here from Credit Karma since no one really responds to you over there.
I've had my Bankamericard Secured ($500 limit) for over a year and a half, I called BoA to get it unsecured and was denied due to late school loan payments I just starting paying. They told me to call back later in the year once good payment history is shown on my credit report. What about of time do you think is sufficent to wait and call back without the risk of being denied again? I just don't want to call after 3 months and get denied if I should've wait 4 or 5 months.
-two months paid on school loans so far
-perfect history with bankamericard 1.5 years
-perfect history with car loan 9 months
Thanks for everyone's advice in advance!
How long ago were the missed payments?
I would suggest that you should atleast wait for 6 months of clean payment history. After that you can apply for CapOne credit card which has less strict standards for unsecured credit card.
I had missed 6-8 months due to my parents moving before the replayment start date and I never got any of the correspondence to start paying. They said they did their due diligence to contact me (no mail, no calls) and couldn't get the damage reversed. So I have everything in my name now and have made May and June payments.
You have serious issues with your credit profile. You may want to take a look at other forums on this board to find out how to possibly remove those negative items from your report, or it may take years before you get approved for anything.
Direct Loans said they couldn't do anything. The loans were just transferred to MyFedLoans, maybe I'll have luck asking them? I was approaved for my car loan so its not impossible for me to get approved.
But as for the secured, I suppose i'll wait until the end of the year to do anything with it.
In order for BOA to unsecure a card, you have to 12 months of perfect payment history Once you do have that, call them back.
If you want to attempt a reconn, call the number and ask to speak with the secured card dept or the credit dept. The secured card depart is opened 8-8 M-F and 8-10 M-F for the credit department.
Guyatthebeach, I stated in my original post that I've had my card a year and a half. I also stated that I spoke with them and was denied, hence, I called the secured department.