topic Re: B of A secured card posting info in Credit Cards

B of A secured card posting info

Dragonslayerjohn — Wed, 31 Dec 2008 16:05:58 GMT

Received a B of A secured card two weeks ago. While speaking with the customer service rep, I asked what day did B of A update, or post, to the CRA's. He said that they update every 3 months. I re-phrased the question to ensure he understood what I meant, and he stated that a lot of people think they report monthly, but actually its' every three months.

This sounds odd. So I'm seeking comments and input from the masses.

Thanks.

Re: B of A secured card posting info

haulingthescoreup — Wed, 31 Dec 2008 16:21:39 GMT

Well, unless there's something really peculiar about the secured card, I know that BofA updates regular cards every month, on the statement date. And it's really an update, not just a report, because I had a BT, and each month, the balance dropped.

As a rule, CSR's are clueless about such things, but most seem incapable of saying "I don't know."

I'll make way for those who've had their secured card.

Re: B of A secured card posting info

llecs — Wed, 31 Dec 2008 16:31:53 GMT

My partially secured (99/500), while secured, updated each monthly religiously.

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 18:18:33 GMT

And to add to that, when I had a fully secured card, BoA updated monthly. The CSR doesn't know what he's talking about.

@llecs wrote:
My partially secured (99/500), while secured, updated each monthly religiously.

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 19:03:27 GMT

My partially secured visa updates monthly as well.

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 19:49:15 GMT

That guy doesn't seem to have a clue. Mine updated every month also.

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 21:11:44 GMT

Ditto w/ fully secured here.

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 21:31:10 GMT

Hello everyone

I have a boa secured too and I can tell you that I m positive it reports to the credit bureaus at least 'experian' every month. To be specific it reports a day after your statement closing date.

HEY contractor, your card did not upgrade yet !!?

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 22:16:28 GMT

@Anonymous wrote:
HEY contractor, your card did not upgrade yet !!?

No, grumble-grumble, it hasn't. I got my 10th statement in mail today. To be specific though, the first statement was only for one (1) day, so I'm assuming it didn't count. I coy-ly sent this yesterday via the website mail.

Message text: I am curious as to how one goes about becoming "unsecured"
for lack of a better term. I have had the secured account since March
and was hoping that it would someday become a regular account as is
alluded to in your account information. Thanks in advance for any info.
I really, really like the website; it makes everything easy.
Contractor

(Note cheesy butt-kissing) They replied with this today.

Dear Contractor,

Thank you for your inquiry dated 12/30/08 regarding a secured card. We
are happy to assist you.

The Secured Card program is designed to take nine months to be
successfully completed. The nine months involve close monitoring of your
usage and payment patterns with the card. At the end of the ninth month,
you may contact us to review your account. If the overall account
management meets the criteria at that time, your account is graduated to
an unsecured credit card account. The proceeds from the secured account
are then mailed to you.

We value you as a customer and appreciate your business. If we may be of
further assistance, please contact us again by e-mail. Thank you for
choosing Bank of America.

Sincerely,
Danielle XXXXXXX, Bank of America

Umm....excuse me, I am contacting you and it has been nine months. DUH. I guess they want the personal touch of a phone call. I'm just dreading it, I kiss-up better in writing, difficult to be sincere sounding on the phone. LOL. Should I call or wait them out?

Opinions.

Message Edited by contractor on 12-31-2008 02:16 PM

Re: B of A secured card posting info

Anonymous — Wed, 31 Dec 2008 22:47:54 GMT

Well you re getting close ! Hopefully very soon it will unsecure.

mine has a credit line of $800

I use it at least 18 to 24 times a month charging around 200 to 250 but I usually pay before the statement cut and I keep around 50 to $60 as a balance, and pay the rest in full by the due date.

I wonder if boa likes high usage like crap1 cause if not I m in trouble !!!

Re: B of A secured card posting info

preci0uz — Thu, 01 Jan 2009 02:20:21 GMT

He must be new or is completely confused.

Mines reports every month with the exact balance that my card had when the statement ended.

On a different topic, regarding upgrading...

I called BOFA last week to find out if I was eligible for upgrading my secured card to unsecured since it had been 9 months now. (the longest 9 months!!!)

She told me that she would put the request and my account and credit report (soft inquiry) would be reviewd within a couple of days and that I should know within 2 weeks whether I've been upgraded.

I told her that I didn't want to put in the request at the moment because I would rather wait til next month when my other accounts have a ZERO balance on my credit report. She said not to worry and try anyway, because once you "inquire" about upgrading and if you do not qualify at that moment, then they check on a monthly basis to see if you qualify.

Re: B of A secured card posting info

preci0uz — Thu, 01 Jan 2009 02:39:24 GMT

omg I just checked and they upgraded my account to unsecured. I had a 500CL and now it's at 1000 CL.

I had checked earlier but it was still showing as secured. YAYAY.

I'm going to ask for a CLI when my cards show a ZERO balance.

Re: B of A secured card posting info

Anonymous — Fri, 02 Jan 2009 23:06:10 GMT

Yee-Haw

Called B of A today about my secured card. They unsecured it and bumped my CL from 2K to 2.5K. Sending a cashiers check in the mail for my deposit (for some odd reason they couldn't just put it in my BOA savings account, oh well).

I asked about a product change to the BofA Amex and was told I would have to reapply separately ( I didn't want to ruin a good day and said OK.) I will give it a few months as a "real" CC then call and ask the regular customer service peeps instead of the secured card staff.

Happy New Year to me! I am a happy contractor. Thanx to all who suggested the BofA secured card, good advice.

Re: B of A secured card posting info

Anonymous — Fri, 02 Jan 2009 23:18:34 GMT

xCONGRATS CONTRACTOR AND PRECIOUZ I JUST GOT A SECURED BOA CARD OPENED IT THE END OF DEC BUT DIDNT RECEIVE UNTIL JAN 09 I HOPE IN 9-10 MONTHS FROM NOW I'LL BE SCREAMING I'M UNSECURED..I THINK MY CL IS $1500..CAN U ADD FUNDS TO YOUR CARD TO INCREASE CL ON THESE..? I THOUGHT REP SAID YES BUT CAN'T REMEMBER

Re: B of A secured card posting info

Anonymous — Fri, 02 Jan 2009 23:29:51 GMT

Yes, BG, you can take it up to 10K .

For what it's worth, I got written confirmation that secureds are eligible after 9 months but the secured card CSR told me their policy is now 10 months. I think that if you ask at 9 they approve but if you wait on them, it will be 10. YMMV.

Re: B of A secured card posting info

Anonymous — Thu, 22 Jan 2009 02:22:29 GMT

Called B of A today about my now unsecured Platinum Plus. Told them I wanted to trade it for an Accelerated Rewards AMEX. Frontline yoyo #1 told me "no can do" ,have to re-apply. I said no sir, I don't mean to be rude but you do do that for people. I'll check. Put me on hold.............elevator music................Mr. Contractor, you're correct we can and do, do that. It has to go through the applications dept. however. I'll connect you.

Click, whir, buzzzzz........more elevator music ...................and then I spoke with the lovely Nicole. Same request to her. Well, let's see if we can do that, typing, more typing......OK Mr. Contractor, you're all set, should have your card in 10 to 14 days. I was dumbfounded. Pretty sure I thanked her, hope so. I was all cranked up to argue. LOL.

I sure hope she wasn't goofing on me. LOL. I'm such a trusting soul, huh. Anyway, when I have it in my hand, I'll be one happy contractor.

Re: B of A secured card posting info

preci0uz — Thu, 22 Jan 2009 03:39:47 GMT

Congrats contractor!

I was told the same that I couldn't do it and I insisted that they do it all the time. I'm so calling in tomorrow.

By the way, is your APR staying the same? I just want a card with a lower APR. :\

Re: B of A secured card posting info

Anonymous — Thu, 22 Jan 2009 03:48:44 GMT

I didn't ask, LOL, I was in shock. I always PIF so not really concerned about the APR right now. When you call, ask for the applications department. That should save you trying to explain to yoyo #1 .

Re: B of A secured card posting info

preci0uz — Thu, 22 Jan 2009 03:50:29 GMT

Thanks contractor! I can't wait to give them a call!

Re: B of A secured card posting info

oracles — Thu, 22 Jan 2009 04:11:02 GMT

Congrats contractor, i also seen others state here that once they product changed their card, they were able to get nice cli's as well.

Congrats again