topic Re: BOA Secured Card in Credit Cards

BOA Secured Card

RichieNY — Tue, 10 Feb 2009 01:10:46 GMT

Hello all,

General consesus of the board tells me to go wtih BOA secured

So today I opened a BOA checking account and Friday I am going to close my TD bank account because they do not offer secured cards

I have a chargeoff and 5 collections from 2004

In the past 4 months I have opened a First Premier card as well as Crown Jewlers and my score has jumped from around 500 to now around 600 (590-610)

My question is will BOA approve me for a secured card with a FICO around 600? Is it easy to get?

Thanks

Re: BOA Secured Card

oracles — Tue, 10 Feb 2009 01:12:50 GMT

Hi Richie

Although nothing is guaranteed and people have been denied even a secured card, in your particular situation, I think you will indeed get the secured card.

HTH

Re: BOA Secured Card

RichieNY — Tue, 10 Feb 2009 01:23:14 GMT

Thanks oracles

Once I get the BOA secured I am done

I will let my 3 TL's re-establish my credit and hopefully show the big boys that I am now credit worthy.

With all my baddies from 2004 I am so shocked that the 2 TL's (when I get BOA it will be 3) I currently have jumped my score that much...

Re: BOA Secured Card

Anonymous — Tue, 10 Feb 2009 13:35:56 GMT

I was approved for a standard BoA secured card that opened last March (2008). My scores were all rather low (high 400s to low 500s) but I had banked with them for a while and my accounts had been in good standing for over 6 months. I had several charge offs, 4 collections, and one account (maybe 2 if my CJ account had hit yet) in good standing.

I got the plain secured card, with a $300 limit - and after calling last week it was graduated and CLI'd to $800

Good luck to you, I think you'll get it, but ya never know.

Re: BOA Secured Card

moondog7324 — Tue, 10 Feb 2009 21:57:33 GMT

BoA use to has a good secured card program.

Re: BOA Secured Card

Red1Blue — Tue, 10 Feb 2009 23:43:07 GMT

BOA has a preapproaval page on the website. Go there and enter the information and see if they have any card offferings for you. It does not cost a hard inq for you. Some times if you apply for the regular card and if you do not qualify for it then they would offer you either 99/500 card or full secured card. There are options to explore. You could also try for Nordstrom Store card which could turn into Visa in 6 months.

Re: BOA Secured Card

haulingthescoreup — Wed, 11 Feb 2009 00:01:37 GMT

Do realize that the BofA website will soft your EQ, and when you apply for real, they will probably pull EX and possibly TU in addition.

So if your EQ and EX reports are substantially different, as in number/ severity of baddies on them, the pre-approval site might not work for you.