topic Re: BOA Secured now Unsecured in Credit Cards

BOA Secured now Unsecured

precision — Thu, 02 Mar 2017 19:21:20 GMT

Today I called BOA in order to see about unsecuring my BOA Platinum and I was able to do so after calling the right number.

I have read reports online of people being able to unsecure after 5 statements if BOA likes what they see on your AR reports and how you have been managing the card. Initially I simply called the general card number and was told that the card could not be unsecured for one year. After thinking about it I called the Secured Card number at 800-824-5895.

The young lady who was clearly a fluent English speaking American citizen asked me the same types of questions that one would get if they were asking for a CLI and came back with an approval to unsecure my card and give me a CLI of $800 for a new CL of $1300. Additionally, the $500 that I used to secure the account was literally instantaneously put back into my BOA checking. I think that this was all accomplished with a SP as I got no HP reports from any services.

I then asked her about a product change to a cash rewards card and she said that I needed to wait a month for the systems to update.

My current FICO 08 scores as of today are:

TU 764
EX 725
EQ 744

AAOA 1.7
Utility 5%

I hope that this post and these data points can help someone else down the line.

Re: BOA Secured now Unsecured

Anonymous — Thu, 02 Mar 2017 20:35:12 GMT

I was sent a offer for the Americard Cash Rewards about a month ago. Just interested to know your scores when you applied for the secured card. Trying to figure out if it's worth applying for.

Re: BOA Secured now Unsecured

Anonymous — Thu, 02 Mar 2017 22:21:06 GMT

@precision wrote:
Today I called BOA in order to see about unsecuring my BOA Platinum and I was able to do so after calling the right number.

I have read reports online of people being able to unsecure after 5 statements if BOA likes what they see on your AR reports and how you have been managing the card. Initially I simply called the general card number and was told that the card could not be unsecured for one year. After thinking about it I called the Secured Card number at 800-824-5895.

The young lady who was clearly a fluent English speaking American citizen asked me the same types of questions that one would get if they were asking for a CLI and came back with an approval to unsecure my card and give me a CLI of $800 for a new CL of $1300. Additionally, the $500 that I used to secure the account was literally instantaneously put back into my BOA checking. I think that this was all accomplished with a SP as I got no HP reports from any services.

I then asked her about a product change to a cash rewards card and she said that I needed to wait a month for the systems to update.

My current FICO 08 scores as of today are:

TU 764
EX 725
EQ 744

AAOA 1.7
Utility 5%

I hope that this post and these data points can help someone else down the line.

Congrats OP, especially with an SP!!!

Re: BOA Secured now Unsecured

Anonymous — Thu, 02 Mar 2017 23:42:30 GMT

Congrats on the grad, and cli with an SP!

Re: BOA Secured now Unsecured

precision — Fri, 03 Mar 2017 02:59:09 GMT

@Anonymous wrote:
I was sent a offer for the Americard Cash Rewards about a month ago. Just interested to know your scores when you applied for the secured card. Trying to figure out if it's worth applying for.

When I applied for the secured card I had no credit score available and my reports were essentially blank.

Re: BOA Secured now Unsecured

Chrisla2077 — Sat, 29 Jul 2017 15:50:04 GMT

I have had my BOA for more than 2 years now and it has not unsecured. I am planning to pay down my $600 balance when I am able and close the card. I had the CLI link for months and the 1 time I used it, my increase was rejected for not enough funds in my BOA checking/retirement accounts. I had been a customer with them for more than 10 years. I think I'm done with them.

Re: BOA Secured now Unsecured

BungalowMo — Sun, 30 Jul 2017 01:13:18 GMT

@Chrisla2077 wrote:
I have had my BOA for more than 2 years now and it has not unsecured. I am planning to pay down my $600 balance when I am able and close the card. I had the CLI link for months and the 1 time I used it, my increase was rejected for not enough funds in my BOA checking/retirement accounts. I had been a customer with them for more than 10 years. I think I'm done with them.

Can't say I blame ya. I know I tried a couple times for BOA and they shot me down both times. I had nice cards & limits with other banks & CU's. I gave up on them. No love for me & no reason to be that way!

Re: BOA Secured now Unsecured

Chrisla2077 — Sun, 30 Jul 2017 02:09:36 GMT

@BungalowMo wrote:
@Chrisla2077 wrote:
I have had my BOA for more than 2 years now and it has not unsecured. I am planning to pay down my $600 balance when I am able and close the card. I had the CLI link for months and the 1 time I used it, my increase was rejected for not enough funds in my BOA checking/retirement accounts. I had been a customer with them for more than 10 years. I think I'm done with them.
Can't say I blame ya. I know I tried a couple times for BOA and they shot me down both times. I had nice cards & limits with other banks & CU's. I gave up on them. No love for me & no reason to be that way!

Yeah....I tried again today just for good measure. I wondered if trying for an new unsecured would work, but I think I'm done with BOA. I've already given up on their checking acct...now their CC is leaving my wallet.

Re: BOA Secured now Unsecured

Anonymous — Sun, 30 Jul 2017 20:31:11 GMT

I have had a Bank of America checking and savings account for almost 4 years, what made you switch banks and where did you switch to?

Re: BOA Secured now Unsecured

Chrisla2077 — Mon, 31 Jul 2017 13:40:15 GMT

I switched to Navy Federal. in my opinion. Bank of America has a fee structure that takes advantage of customers. Their customer service has steadily declined over the years and they are very ambiguous with explanations.

Re: BOA Secured now Unsecured

Anonymous — Thu, 03 Aug 2017 02:48:16 GMT

Your lucky. Been 14 months and called Monday to see if they would unsecure it. They said I would get a letter in 7-10 days that will let me know if I got it unsecured. Got the letter yesterday and it said they won't unsecure it because of low payments and not enough history with them. I pay it off every month. I'm closing my card once I get a $500 increase on one of my other cards. Not going to put up with that BS. BOFA lost my business for good. I just got the card to get my foot in the door with them.

Re: BOA Secured now Unsecured

UpandUp — Tue, 10 Oct 2017 12:53:40 GMT

Requested my secured BofA be graduated to unsecured 10/9. Request submitted, was told would receive a letter in 3 days with status, but that I could call to follow-up for a sooner response. Called on 10/10. Was told that it was being processed. Was transferred to the department that does the processing. Request was approved during the phone call. $4900 secured was graduated to $3000 unsecured. Was told that unsecured was less than secured due to current credit 672, 662, 650. Was told that collateral will be credited to my account within 24 hours. All done with SP. Also advised to revisit CLI after 6 months.