topic Re: BOA Secured in Credit Cards

BOA Secured

Anonymous — Sat, 10 Sep 2016 00:38:09 GMT

I have had the BOA secured card for well over a year now and it's still secured. I talked to them about it and they said they are constantly reveiwing my account but I'm just curious if anyone has the secured card and when it was unsecured? I pay it off in full every month so it's just kind of getting frustrating.

Re: BOA Secured

baller4life — Sat, 10 Sep 2016 01:13:12 GMT

You could take a hp and get it unsecured. I did that at the 6 months mark. Or you could wait it out till they auto unsecure you. Really surprised they haven't already. Do you have baddies on TU?

Re: BOA Secured

zerofire — Sat, 10 Sep 2016 01:32:47 GMT

I have heard people waiting 13-14 months for BoA to unsecure. Otherwise taking a HP for a CLI will force an unsecuring for you.

Re: BOA Secured

Anonymous — Sat, 10 Sep 2016 01:35:54 GMT

My card became unsecured automatically after a year or so. One day I received a letter notifying me of the change and a check with my $400 deposit back.

Re: BOA Secured

Anonymous — Sat, 10 Sep 2016 01:37:02 GMT

They have an option on the website to increase the credit limit but it wants me to deposit more funds which I'm not doing. Do you think I should just apply for a new card? And I do have 2 small collections on TU.

Re: BOA Secured

Anonymous — Sat, 10 Sep 2016 01:47:50 GMT

I actually had my Boa cash rewards 99/500 secured card unsecured today after 7 months. I called to ask if it was possible and agreed to a hard pull for a cli of $1300 i was hoping for more, but this was the max possible right now.
I only used it sporadically never over $200 balance reporting and pif shortly afterwards.

Re: BOA Secured

Anonymous — Sat, 10 Sep 2016 10:36:34 GMT

I opened my BOA fully secured card 03/16 with a $1,000 deposit, i added an additional $500 in 05/16.

I called yesterday to ask about unsecuring, they unsecured me and bumoed my credit line to $2,800 she told me it was a soft pull and i havent seen a hard pull come through yet but im going to keeo monitoring for one.

Re: BOA Secured

Namaste7 — Sat, 10 Sep 2016 17:44:56 GMT

@zerofire wrote:
I have heard people waiting 13-14 months for BoA to unsecure. Otherwise taking a HP for a CLI will force an unsecuring for you.

+1 If you were 100% secured, count 12 months from your second statement. I would not risk a HP until you are 13-14 months past your second statement. No need to wait in INQ on a process they may have been automatic.

Re: BOA Secured

Anonymous — Sat, 10 Sep 2016 18:00:37 GMT

@taxdoc wrote:
@zerofire wrote:
I have heard people waiting 13-14 months for BoA to unsecure. Otherwise taking a HP for a CLI will force an unsecuring for you.
+1 If you were 100% secured, count 12 months from your second statement. I would not risk a HP until you are 13-14 months past your second statement. No need to wait in INQ on a process they may have been automatic.

Many people have reported getting their BoA secured card unsecured before the norm of 12 statement cycles.

In fact, it seems to be the majority of them do. To assume those with the secured card have to wait 12 months to unsecure isn't correct.

Re: BOA Secured

joltdude — Sat, 10 Sep 2016 22:44:35 GMT

@Anonymous wrote:
They have an option on the website to increase the credit limit but it wants me to deposit more funds which I'm not doing. Do you think I should just apply for a new card? And I do have 2 small collections on TU.<---- RED FLAG

Those two (small baddies on TU) are a big problem..
I would not waste an HP trying to unsecure this card untill/if you can address those baddies...
Not sure how true this is but ancedotally.. BOA will not unsecure with certain baddies present....

Sorry to dissapoint you on this. but thats why its not unsecuring....
If your scores support it, apply for another card (not BOA)....

Re: BOA Secured

Namaste7 — Sat, 10 Sep 2016 23:59:04 GMT

@Anonymous wrote:
@taxdoc wrote:
@zerofire wrote:
I have heard people waiting 13-14 months for BoA to unsecure. Otherwise taking a HP for a CLI will force an unsecuring for you.
+1 If you were 100% secured, count 12 months from your second statement. I would not risk a HP until you are 13-14 months past your second statement. No need to wait in INQ on a process they may have been automatic.
Many people have reported getting their BoA secured card unsecured before the norm of 12 statement cycles.

In fact, it seems to be the majority of them do. To assume those with the secured card have to wait 12 months to unsecure isn't correct.

OP's original response states, the card has been secured for a year. So, I suppose I did assume that BoA had made a determination to not unsecure prior to 12 months considering OP's card is STILL secured. In this situation, other's success of un-securing earlier did not appear to align with OP's circumstance. My reply was never intended, or should have been intended as a iron clad one-size fits all explanation. So, my reply along with the poster I originally quoted is suggesting to OP to be patient for an additional 1-2 months before going for the HP approach.

Re: BOA Secured

joltdude — Sun, 11 Sep 2016 16:02:46 GMT

@taxdoc wrote:
@Anonymous wrote:
@taxdoc wrote:
@zerofire wrote:
I have heard people waiting 13-14 months for BoA to unsecure. Otherwise taking a HP for a CLI will force an unsecuring for you.
+1 If you were 100% secured, count 12 months from your second statement. I would not risk a HP until you are 13-14 months past your second statement. No need to wait in INQ on a process they may have been automatic.
Many people have reported getting their BoA secured card unsecured before the norm of 12 statement cycles.

In fact, it seems to be the majority of them do. To assume those with the secured card have to wait 12 months to unsecure isn't correct.
OP's original response states, the card has been secured for a year. So, I suppose I did assume that BoA had made a determination to not unsecure prior to 12 months considering OP's card is STILL secured. In this situation, other's success of un-securing earlier did not appear to align with OP's circumstance. My reply was never intended, or should have been intended as a iron clad one-size fits all explanation. So, my reply along with the poster I originally quoted is suggesting to OP to be patient for an additional 1-2 months before going for the HP approach.

Waiting a few months for the 13-14 month timeline isnt bad.. but it seems to be overlooked the op has two baddies on TU and this is causing the issue..

Perhaps if we knew a bit more details about these "minor baddies" and also if the op took a stroll in rebuilding forums... they could be addressed... BOA is generally a bit fickle on baddies reporting....and this will prevent the OP from graduating...

Re: BOA Secured

joltdude — Sun, 11 Sep 2016 16:07:29 GMT

@baller4life wrote:
You could take a hp and get it unsecured. I did that at the 6 months mark. Or you could wait it out till they auto unsecure you. Really surprised they haven't already. Do you have baddies on TU?

Another quote:

Re: BOA Secured

baller4life — Sun, 11 Sep 2016 17:35:57 GMT

And that's the issue... Makes sense now. OP have you tried to pfd those collections?