topic Re: My BOFA Secured card just Unsecured! in Credit Cards

My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 13:13:43 GMT

First off i have to say this forum has helped me out so much it's one of the best credit forums out today. Thank you Myfico family. My limit was $300 now it's $800 they told me i should receive my $300 deposit back in 10 business days. My card was 2 days shy of the 9 month mark but i guess the rep on the phone said i could unsecure it today for you cause your payment history has been very good this past 9 months. QUESTION! should i try to do a product change right now or should i wait a few days or weeks?

Message Edited by mjbfan79 on 04-29-2009 08:13 AM

Re: My BOFA Secured card just Unsecured!

Scamp — Wed, 29 Apr 2009 13:34:04 GMT

Congrats!! WTG!

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 13:36:36 GMT

CONGRATS, mjb!!!! Awesome news!

I think you should take it slow and easy with BoA right now. Call them to be added to the WorldPoints rewards program, but don't ask for a product change just yet.

One thing that I've learned from BoA is that each of their products have 'minimum credit line required' to obtain. Unfortunately, they won't really tell you on most products (they do state for some) what the minimum credit line required is. Also, they claim to not be doing product changes at the moment (but I don't know if that was a few know-nothing CSRs, or if it's a real policy-- they would not let me product change again) Given the recent rash of AA from BoA, what I think you should do is send yourself a reminder for 6 months from today. In that 6 months, use your card lots and PIF. Go for a CLI, before you go for a product change.

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 14:22:45 GMT

Congrats mjb!

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 16:32:13 GMT

@Anonymous wrote:
CONGRATS, mjb!!!! Awesome news!

I think you should take it slow and easy with BoA right now. Call them to be added to the WorldPoints rewards program, but don't ask for a product change just yet.

One thing that I've learned from BoA is that each of their products have 'minimum credit line required' to obtain. Unfortunately, they won't really tell you on most products (they do state for some) what the minimum credit line required is. Also, they claim to not be doing product changes at the moment (but I don't know if that was a few know-nothing CSRs, or if it's a real policy-- they would not let me product change again) Given the recent rash of AA from BoA, what I think you should do is send yourself a reminder for 6 months from today. In that 6 months, use your card lots and PIF. Go for a CLI, before you go for a product change.

Thx for the luv but i thought i read a few threads here that said u should try to do a product change right away because it was hard to get a CLI with the plan BOFA platinum plus card?
So are you saying i should wait 6 months to do a product change? An how can u get in the world points program without doing a product change a little confused here.

Also what is this new thing BOFA has called ADD IT UP!?

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 16:33:56 GMT

Can you tell me what number you happened to call? I've called 3 times now and haven't got anywhere! The last time I called I got a rude lady that said; "It takes 12 months!". I'm at 11 months now? I just don't understand why they haven't shown me the love?

Re: My BOFA Secured card just Unsecured!

score_building — Wed, 29 Apr 2009 16:50:53 GMT

WTG, congrats mjb!

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 17:58:31 GMT

@Anonymous wrote:
Can you tell me what number you happened to call? I've called 3 times now and haven't got anywhere! The last time I called I got a rude lady that said; "It takes 12 months!". I'm at 11 months now? I just don't understand why they haven't shown me the love?

BofA: 888-260-4696 (secured accts.)

I think it all depends on who u get one the other line an what type of a mood there in.

Re: My BOFA Secured card just Unsecured!

Roxlie — Wed, 29 Apr 2009 20:05:40 GMT

Give them a call and ask to have the Worldpoints added to your Platinum account. My card unsecured last month with the same details as yours did and I called them and they went ahead and added it. They mailed me out a new card as well. From what I understand though it's not really a product change morwe than just enrolling in the program. Ask them that way and see if it helps.

Re: My BOFA Secured card just Unsecured!

creditreformer — Wed, 29 Apr 2009 21:29:01 GMT

Congrats- did you have any baddies on your reports?

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 21:42:39 GMT

Congrats! I had an $99/500 card that graduated and I couldn't get anything from BofA until I finally did a product change. Once I did the product change I received a few CLI in one years time. I'm convinced that making the switch from the generic card I originally had, to a rewards card that was more respected was what did it. A few others have reported the same.

There is a double edged sword here though. I do believe that they will not issue certain cards unless you have a minimum of $Xk CL. So you might not be able to convert to another card yet. Which will leave you in sticky place, since you probably won't get any Luv from them until you do. Not sure what would be best in your case, I would attempt to do product change and see if there are any better cards you can get with your current CL. IF so, then do the change, sit on it for 6 months or so and then apply for CLI.

Good luck!

Re: My BOFA Secured card just Unsecured!

eparker — Wed, 29 Apr 2009 21:46:51 GMT

I am thinking about applying for the BofA secured card. I am interested in knowing is there a specific score they are looking for? I've heard of people being denied for a secured card also. I am in the process of rebuildng my credit. I don't want to get to many inquiries on my credit report.

I was recently approved for a best buy card. Denied for Lowe's. Waiting on Cap1.

Any other cc offers to apply for let me know.....

Thanks

TU: 617 EQ: 617 EXP: UNK

Re: My BOFA Secured card just Unsecured!

creditreformer — Wed, 29 Apr 2009 21:57:05 GMT

Eparker, I was approved in late 5/08 w/ficos in the 570s-580s + some baddies on my reports. While ba approved me, they are holding those baddies against me + as I said in my recent post, ba has said they will NOT unsecure my cc w/ANY baddies on there, so while you may get a secured cc, you may find difficulty in unsecuring it

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 22:47:50 GMT

@creditreformer wrote:
Congrats- did you have any baddies on your reports?

I just checked my CR they hit me with a hard on TU which was great that is my best score 734 with no baddies showing. I did have like 15 recent inquries but that's about it.

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 22:50:17 GMT

@Roxlie wrote:
Give them a call and ask to have the Worldpoints added to your Platinum account. My card unsecured last month with the same details as yours did and I called them and they went ahead and added it. They mailed me out a new card as well. From what I understand though it's not really a product change morwe than just enrolling in the program. Ask them that way and see if it helps.

Did you still have a AF that's what i would like to get rid of my card turns one year in August?

Re: My BOFA Secured card just Unsecured!

Anonymous — Wed, 29 Apr 2009 23:32:45 GMT

I have a 581 and was denied with 2 5 year old negatives on my report.

I'm also getting declined for everything else, so of course YMMV.

Re: My BOFA Secured card just Unsecured!

Anonymous — Thu, 30 Apr 2009 01:39:37 GMT

@Anonymous wrote:
I have a 581 and was denied with 2 5 year old negatives on my report.

I'm also getting declined for everything else, so of course YMMV.

Be easy things will get better.

Re: My BOFA Secured card just Unsecured!

Anonymous — Thu, 30 Apr 2009 01:59:16 GMT

Congrats mj....

Re: My BOFA Secured card just Unsecured!

Anonymous — Mon, 04 May 2009 16:18:03 GMT

I also just noticed they updated to the CRA it no longer reports secured card it says credit card an they reported my new CL that was quick.

Re: My BOFA Secured card just Unsecured!

Roxlie — Mon, 04 May 2009 20:47:04 GMT

@creditreformer wrote:
Eparker, I was approved in late 5/08 w/ficos in the 570s-580s + some baddies on my reports. While ba approved me, they are holding those baddies against me + as I said in my recent post, ba has said they will NOT unsecure my cc w/ANY baddies on there, so while you may get a secured cc, you may find difficulty in unsecuring it

Mine unsecured in 9 months and a few days..no lates but I do have have a BK from 2006 on there.

Message Edited by Roxlie on 05-04-2009 01:47 PM