topic Re: Bank Of America Secured to unsecured in Credit Card Approvals

Bank Of America Secured to unsecured

tjw0783 — Tue, 22 Apr 2014 17:32:15 GMT

I am rebuilding credit after a BK in 2010. Ive had my BOA secured card for a year now, I did an online chat with a Customer Service rep and asked for an upgrade to an unsecured card. He said he was able to request one and did so. He said I would get a decision in 5-7 days via mail.

Im curious if BOA usually has an instant decision and the 5-7 days message is really a decline for the upgrade or if that message is normal when requesting an upgrade.

Would love to hear what the decision was for others whove requested the same and got theat message.

Thanks!

Re: Bank Of America Secured to unsecured

baller4life — Tue, 22 Apr 2014 18:05:34 GMT

Good luck to you. I would call the backdoor secured card analyst listed in sticky. They can maybe push it thru for you.

Re: Bank Of America Secured to unsecured

Kenny — Tue, 22 Apr 2014 20:22:17 GMT

Good luck to you!

Re: Bank Of America Secured to unsecured

TrulyyBlessed — Tue, 22 Apr 2014 20:59:53 GMT

You would probably be able to get your card unsecured much faster by either calling or contacting BOA via Facebook. I would suggest to call the backdoor number. Best of luck to you, and let us know how it works out!

Re: Bank Of America Secured to unsecured

IWOL — Tue, 22 Apr 2014 22:21:55 GMT

Definitely call the backdoor number and speak to an underwriter in the secured card dept. they should be able to unsecure it right away if you qualify as well as possibley give you a CLI with the same pull.

I requested mine first by online chat and I got a denial letter a few days later. I then called and spoke directly with an underwriter. They went over the history with me, asked a few questions and then immediately unsecured my card with a $500 limit and increased the limit to $1500. I did an online CLI request 4 months after it unsecured and they bumped my limit to $5k.

Re: Bank Of America Secured to unsecured

RCFL — Tue, 22 Apr 2014 22:47:29 GMT

Did you burn BoA in your Bk?

Re: Bank Of America Secured to unsecured

One7 — Wed, 23 Apr 2014 05:31:49 GMT

Good luck, I hope it all works out for you. BofA is usually really great at unsecuring cards

Re: Bank Of America Secured to unsecured

Anonymous — Wed, 23 Apr 2014 08:12:43 GMT

Hi There,

2 years ago, just starting out my credit history, I got a secured BofA cash reward card with them for $100 deposit with a $500 cl. After 1 yr, it was automatically converted to a unsecured card with a $750 cl. and they returned my deposit. After 3 months, it was increased to $1500. 3 months later I asked and was approved $5000. and last month I was approved for a $7500.

So best of luck to you!

Re: Bank Of America Secured to unsecured

One7 — Wed, 23 Apr 2014 19:59:52 GMT

@Anonymous wrote:
Hi There,

2 years ago, just starting out my credit history, I got a secured BofA cash reward card with them for $100 deposit with a $500 cl. After 1 yr, it was automatically converted to a unsecured card with a $750 cl. and they returned my deposit. After 3 months, it was increased to $1500. 3 months later I asked and was approved $5000. and last month I was approved for a $7500.

So best of luck to you!

Had a very similar story, they unsecured mine automatically after 10 months, that same week I PCd to the Travel Rewards card and CLId from 300 to 5k. In a few months I'm going to ask for the Signature version. BofA is awesome

Re: Bank Of America Secured to unsecured

tjw0783 — Thu, 24 Apr 2014 20:40:41 GMT

I checked the account today and it looks as though they unsecured it. Credit increase from 300 to 2000.

Thanks!!

Re: Bank Of America Secured to unsecured

Kenny — Thu, 24 Apr 2014 20:41:07 GMT

@tjw0783 wrote:
I checked the account today and it looks as though they unsecured it. Credit increase from 300 to 2000.

Thanks!!

Yay! Congrats to you!!

Re: Bank Of America Secured to unsecured

tjw0783 — Thu, 24 Apr 2014 20:59:53 GMT

So I have one more question.

Since it has been unsecured do I get a new card, or do I keep my current acount. Do they typcailly switch yo to a "better" card once your account is unsecured?

Just wondering how all this works.

Re: Bank Of America Secured to unsecured

DrZoidberg — Thu, 24 Apr 2014 21:10:11 GMT

Does everyone else still pay the AF for the secured card? I still have to pay the $29 AF.

Re: Bank Of America Secured to unsecured

-Wade- — Thu, 24 Apr 2014 21:17:16 GMT

@tjw0783 wrote:
I am rebuilding credit after a BK in 2010. Ive had my BOA secured card for a year now, I did an online chat with a Customer Service rep and asked for an upgrade to an unsecured card. He said he was able to request one and did so. He said I would get a decision in 5-7 days via mail.

Im curious if BOA usually has an instant decision and the 5-7 days message is really a decline for the upgrade or if that message is normal when requesting an upgrade.

Would love to hear what the decision was for others whove requested the same and got theat message.

Thanks!

Best of luck

Re: Bank Of America Secured to unsecured

Anonymous — Thu, 24 Apr 2014 21:24:17 GMT

Congrats on the Graduation!!!!! I can't wait for mine even though I have some ways to go 8-11 from the info I'm getting from the forum

Re: Bank Of America Secured to unsecured

Involver — Thu, 24 Apr 2014 21:40:41 GMT

Congrats on graduating the card and the CLI!

Re: Bank Of America Secured to unsecured

IWOL — Thu, 24 Apr 2014 23:31:42 GMT

OP....you wont get a new card, thw account number will remain the same.

Which card do you have....cash rewards?

If you never added rewards to the card when it was secured you can call them now and convert the card to one with rewards..cash, travel etc.

If you do convert it, then you will get a new card.

Re: Bank Of America Secured to unsecured

gdale6 — Thu, 24 Apr 2014 23:48:14 GMT

@tjw0783 wrote:
I checked the account today and it looks as though they unsecured it. Credit increase from 300 to 2000.

Thanks!!

Grats

Re: Bank Of America Secured to unsecured

One7 — Fri, 25 Apr 2014 04:57:09 GMT

Awesome! I converted mine to the Travel Rewards so I got a new card (took 4 weeks for it to come in) and they took off the annual fee automatically. The account number changed but the credit history stayed the same so their isn't a new TL which is amazing, which means all that hard work isn't thrown away with a new one. Congratulations again

Re: Bank Of America Secured to unsecured

alvon123 — Fri, 25 Apr 2014 10:31:28 GMT

@tjw0783 wrote:
I checked the account today and it looks as though they unsecured it. Credit increase from 300 to 2000.

Thanks!!

congrats