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bofa just graduated!

Established Contributor

Re: bofa just graduated!

The interest rate on my WorldPoints Visa is 14.24% which isn't bad for a rewards card. The interest rate on my Chase PerfectCard is 17.24%.
Message 11 of 24
Regular Contributor

Re: bofa just graduated!

Has anyone with a secured bofa card had the same situation like me?  Besides getting it unsecured you also get another card? I got my platinum plus visa unsecured with a $500 cli and also will receive a Worldpoints MC. So that makes me with two cards with bofa.
Message 12 of 24
Regular Contributor

Re: bofa just graduated!

yes, many people have been unsecured and upgraded to another card. many on this forum have opted for the boa AmEx, probably because of the prestige associated with that brand---when you go from having crappy credit to the opportunity to get (what once used to be) one of the most prestigious card brands in america, you jump at the opportunity even if it's branded with boa Smiley Tongue anyway, many folks who got upgraded to a new card usually state that they explicitly requested it--they weren't automatically offered the card of choice.

 

some (few) were offered the card of their choice during the same day as the call to unsecure was placed. others have been asked to call back in a few billing cycles (two or more after unsecuring). keep in mind this is based on experiences posted on this board, financeglobe card reviews, lithium forums, and financeglobe forums, so it's all anecdotal evidence. it really all depends on a number of factors based on a thorough review by the analysts: payment history, usage patterns, balances on other cards, a review of other accounts, your credit score at the time of unsecuring.  

 

 to answer another poster's question, secured department has stated to me on numerous occasions (different reps at different times) that not all customers will be automatically unsecured at 9 months. some may have to call and request a review at that time, others may receive an automatic offer. 

 

lastly, do not expect your card to unsecure without a hitch if there are derogatory accounts on your reports within the last year.

Message Edited by emartin82 on 04-01-2009 08:26 PM
Message 13 of 24
Regular Contributor

Re: bofa just graduated!

do they often do that though? give you another card on top of your once secured credit card?
Message 14 of 24
Contributor

Re: bofa just graduated!

I had the 99/500 and called the day it turned 9 months and I mean 9 months to the day from the opening day on my report. I called and since it was under the 12 months the CSR cound not do anything so she sent me over to the Credit department and it was uped to $1000 from the $500 and my $99 check was returned within a week.

 

Donny

Message 15 of 24
Established Contributor

Re: bofa just graduated!


pumbaablah wrote:
do they often do that though? give you another card on top of your once secured credit card?

 

I believe it will be very common in the future. Banks like Cap1 have been pushing multiple credit cards with lower limits right along. Simply don't apply for or accept any more ( than the two you now have) BoA cards. You don't want to be at the mercy of one bank in the future.

 

I have predicted that banks will be preferring to issue multiple (lower limit) cards instead of allowing higher limits on one card. It is a natural move in light of the new credit card rules about raising interest rates.

 

Just be aware of the trap 0% interest rates can be, and you will be fine. Enjoy your TWO for the price of one BoA cards.Smiley Happy


                         
Message 16 of 24
Established Contributor

Re: bofa just graduated!

Welcome to the Class of 2009. Congratulations.
/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\

"No good deed goes unpunished"




There is nothing more simple, nothing more complex than the relationship between Country Boy and Dog.
Message 17 of 24
Regular Contributor

Re: bofa just graduated!


pumbaablah wrote:
do they often do that though? give you another card on top of your once secured credit card?

Are they giving you a second card, or are they converting your platinum plus visa to a worldpoints mc?

Message 18 of 24
Regular Contributor

Re: bofa just graduated!

they are giving me both.. go figure
Message 19 of 24
Regular Contributor

Re: bofa just graduated!

credit report just changed. +8 on EQ

reasons...changed from "secured credit card" to "credit card" and also the CL went from 300 to 800

Message 20 of 24