got 99/500 packet mail counter offer from BOA

[Anonymous]

Hey, I thought it was interesting. I got this packet in the mail and I was unsure  what was that.. has all the infomation about $99 for $500 CL.  should I go for it? it has acceptance certificate to tear it off and mail it with either a check for $99 or write in BOA account #.  also got APR terms "Secured Card Account Terms"  17.99% APR and an evelop address says  Secured Card Opreations ( RM) FIA Card Services, blah blah blah. top of the page it says World Points Rewards for $99/ 500 offer is this normal verison of card product for this kind of offer?   my questions for this.. should I go for it? its kinda of strange I got this kind of offer considering that I had MBNA accounts IIB when I filed it.   2nd question.  will BOA care if my dad writes a check for $99 to them and I just sign it?  at 1st I thought this mail packet was actually junk catalog credit approval thing.. but to open it only to see this kind of offer.  thoughts ???  

Message Edited by SnowWalker on 12-01-2008 10:17 AM

[cobra19]

Snow.......without a doubt several folks are going to respond to your post by encouraging you to go for it, based on their experience with the 99/500 card. In advance, I will respectfully disagree.

Your scores are fairly decent. Too good to even consider a secured (or partially secure) card. With a 681 EQ you will be able to get a failrly good cl from most CU's. MOst CU's pull EQ, exclusively. I would also venture to say Chase and/or WAMU would approve you with your current EX score.. My sister was recently approved by WAMU for 4500 with a 642 EX.

So.....before spending $$ for a secured card, I'd look elsewhere first.

.

[Anonymous]

cobra, thanks for reply with infomation as well.. so even when I had them IIB I should ingore this kind of offer? I am just surpised because BOA usually does not like giving 2nd chances for BK.

[score_building]

to app boa with a bk and get the 99/500 is a nice oppurnity if you want boa.  the card will graduate to unsecured with good behavior.  i think boa is among the top prime lenders, preferable to chase or citi IMO.

Message Edited by score_building on 12-02-2008 02:11 PM

[Anonymous]

you dont need to accept it but if you want an in with BOFA you should...