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so, i guess getting this card boils down to whether Bank of America will look at me favorably for other services like mortgages or cd secured business loan for corporate credit. if no, i have enough credit. if i get it, should i get it now to get the inquiry out of the way to keep the year space between inquirues or eait until october when my present credit card balanced r pif
IMO, I'd skip them. They aren't all that and a ball of wax. i had a partially secured one before and wished I went in a different direction. BofA isn't all that good, IMO. If you do get them and open a savings first, you will have 2 inquiries, FYI.
i loathe them as a bank, but i need business credit and account and chase is a no go, for secured card or cd secured loan. coke does not offer business accounts at all and i have a ChexSystems entry so im screwed.
all the things you are mentioning: secured cards, secured loans, cd's, mortgages whatever lol nfcu would be your best bet. move all your banking there and focus on them.
i love Navy Federal's checking account for me. and the secured card is great. i will see what they offer for small business financial srrvices. question: bofa has foreclosures can NFCU help me get them?
Just because you had secured cards does not mean they were reporting to the bureaus as 'SECURED' next to the entry -- all of the consumer reports I have read have said to run from these types of cards. I don't understand why some posters are saying that Bof A and US Bank do, but other posters are saying they do not???? Could it be a regional thing? This is really frustrating because I want a difinitive answer.
@toi34 wrote:Just because you had secured cards does not mean they were reporting to the bureaus as 'SECURED' next to the entry -- all of the consumer reports I have read have said to run from these types of cards. I don't understand why some posters are saying that Bof A and US Bank do, but other posters are saying they do not???? Could it be a regional thing? This is really frustrating because I want a difinitive answer.
Oh BofA absolutely reports secured cards as secured. I have not heard anybody say otherwise.
I just got a BOA Secured CC and before I even got the card, they reported the account to Equifax and Experian. The account was reported to Transunion a couple days later!