Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
Re: 7-10 message on secured credit card app

no bankruptcy and no bad marks in 4-5 years on my reports and BOA turned me down for secured credit card with 50k in assets in their bank, and wanted to charge me $12 for a cashiers check to withdraw my funds to go to another bank..... yea I just took out ALL the cash out of the branches in my city in 1 day =)

dude11 wrote:

mt2va wrote:

I thought about trying BofA but most people's experience on this board seems to be that they are more for establishing credit than re-building credit.  I will wait to see what happens with this card and either try them or a 2nd USAA card.  I just thought it might be better to diversify my lenders while I'm fixing my credit.

Negative!!! Unless maybe you have a BK? I had a few COs and two of them were from BOFA. One was paid off in full through a CA and the other was sold and settled through the CA that owned it. All of my COs and negative info is to drop off in 2015. Yet I was approved for the BOFA secured card which then I was able to add the rewards to it after just a few months owning it. Will be 1 year in Jan of next  year that I've had it.


So in my case I wouldn't say that the card is more for establishing credit than rebuilding. As always YMMV. Hope this helps.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758