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Valued Member
sleekblackroadster
Posts: 25
Registered: ‎10-02-2008
0

bank of america partial secured visa 99/500 card

I applied for a bank of america card and was not approved but was given the preapproval for the 99/500 partial secured card.

 

I am interested in the way they set up an account for holding the $99 deposit. Is this going to be set up like a bank account or will the keep it in the credit arena?

 

I have been trying to rebuild credit but have also been fighting with chexsystems and deposit bank account issues because i am on chexsystems bad list from an overdraft charge off at wells fargo bank from 4 years ago that was paid back to a collection agency but i guess never removed from the chexsystems list. neither wells fargo nor chexsystems has any detailed info on the account or seems to be able to see that i paid this collector off years ago they keep sending me back and forth between them. now i cannot find the payment info i used to pay the collector either because it has been so long i don't remember if i sent them a check or paid with a cc or what.

 

anyway if this 99/500 bank of america card is all i can get to start rebuilding my credit history i would like to know if the deposit aspect of it is going to be hampered by being on the chexsystems list and whether i should even bother taking the trip to the bank of america branch to try to open up this card.

 

just opened 2 new accounts.. Macys Red and BOA 99/500.. util went from 89% to 64% overall but AAoA dropped from 3 to 2 years.
Jan 09 - TU 640 EX 615
Dec 08 - TU 643 EX 622
Established Member
jim5518
Posts: 19
Registered: ‎03-08-2008
0

Re: bank of america partial secured visa 99/500 card

The deposit will be placed in a savings account.You will not be allowed to touch it until the card becomes unsecured.BOA is a very good card to start with,most become unsecured in about a year.Mine took 18 months but I got a 3000 dollar limt when it did.
Epic Contributor
Creditaddict
Posts: 22,090
Registered: ‎10-23-2007
0

Re: bank of america partial secured visa 99/500 card

your BofA secured card took 18 months?? or a secured card from another bank?

I have never heard of BofA taking so long. I would be devastated!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Established Member
jim5518
Posts: 19
Registered: ‎03-08-2008
0

Re: bank of america partial secured visa 99/500 card

Yes 18 months with BOA. I started with the 99/500 and had 2 collections at the time.After I got deletes I was  preapproved for a new card at 3000 and the 99/500 one went to 1000 I cant complain.
Valued Member
sleekblackroadster
Posts: 25
Registered: ‎10-02-2008
0

Re: bank of america partial secured visa 99/500 card

but if i am on this chexsystems list that says do not open any bank accounts won't they just deny me the whole deal because of that? i guess all i can do is try..
just opened 2 new accounts.. Macys Red and BOA 99/500.. util went from 89% to 64% overall but AAoA dropped from 3 to 2 years.
Jan 09 - TU 640 EX 615
Dec 08 - TU 643 EX 622
Established Member
jim5518
Posts: 19
Registered: ‎03-08-2008
0

Re: bank of america partial secured visa 99/500 card

BOA normally doesnt pay attention to chex.If you got an approval for the card my guess is youll get it.Ive had a checking account for 6 years and was on chex when I opened it.
Valued Member
sleekblackroadster
Posts: 25
Registered: ‎10-02-2008
0

Re: bank of america partial secured visa 99/500 card

no way. really? do you think i should try to open banking accounts there as well? i thought all the major banks denied if you are on this list. that is a a great piece of info if boa ignores chex! i have been banking with my credit union for years but never have easy free access to atm machines!

 

i HATE this darn chex list.. when i paid off the accounts years ago i was told i would be on this 'blacklist' for 18 months after i paid it off then i would be able to open accounts again. so i waited and waited and now it was 4 years later and went back to wells fargo to open accounts and i'm still on the list. they sent me to get the report from chex and chex report basically says nothing other than that i had this charge off.. no details about who the account was sold to or when i paid it.. i think i did make a settlement instead of PIF on the account but have never heard of the remainder being sold off to someone else or gotten any demands to pay anything since i made the settlement. so now i guess i have to dispute the chex report and make them come up with detailed info or else demand they take me off but it is not an easy thing to figure out how to do!

 

i think it should disappear within the next year anyway if 5 years after the overdraft or charge off is when they delete the entry but it is just so aggrivating.

just opened 2 new accounts.. Macys Red and BOA 99/500.. util went from 89% to 64% overall but AAoA dropped from 3 to 2 years.
Jan 09 - TU 640 EX 615
Dec 08 - TU 643 EX 622
Epic Contributor
Creditaddict
Posts: 22,090
Registered: ‎10-23-2007
0

Re: bank of america partial secured visa 99/500 card

not all banks use chex system. Wamu didn't
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Regular Contributor
hayhayday
Posts: 208
Registered: ‎10-15-2008
0

Re: bank of america partial secured visa 99/500 card

bofa doesnt check, my aunt got a bofa account with a unpaid bofa chex entry
Established Contributor
Breakthecycle2
Posts: 786
Registered: ‎09-15-2008
0

Re: bank of america partial secured visa 99/500 card


sleekblackroadster wrote:

I applied for a bank of america card and was not approved but was given the preapproval for the 99/500 partial secured card.

 

I am interested in the way they set up an account for holding the $99 deposit. Is this going to be set up like a bank account or will the keep it in the credit arena?

 

I have been trying to rebuild credit but have also been fighting with chexsystems and deposit bank account issues because i am on chexsystems bad list from an overdraft charge off at wells fargo bank from 4 years ago that was paid back to a collection agency but i guess never removed from the chexsystems list. neither wells fargo nor chexsystems has any detailed info on the account or seems to be able to see that i paid this collector off years ago they keep sending me back and forth between them. now i cannot find the payment info i used to pay the collector either because it has been so long i don't remember if i sent them a check or paid with a cc or what.

 

anyway if this 99/500 bank of america card is all i can get to start rebuilding my credit history i would like to know if the deposit aspect of it is going to be hampered by being on the chexsystems list and whether i should even bother taking the trip to the bank of america branch to try to open up this card.

 


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