topic Re: has BOA been unsecuring their Secured CC lately? in Credit Cards

has BOA been unsecuring their Secured CC lately?

Anonymous — Wed, 04 Nov 2009 19:12:26 GMT

BOA secured card. Has anyone recently had their card unsecured? I have had the card for 8 months and never been late on my payments. Wondering if any one here has had their card unsecured recently. Thanks

Re: has BOA been unsecuring their Secured CC lately?

Red22 — Wed, 04 Nov 2009 20:05:41 GMT

I've had the secured CC also, since March and mine hasn't unsecured. I'm debating on calling mid December to inquire about it!!

Re: has BOA been unsecuring their Secured CC lately?

jkfaria — Wed, 04 Nov 2009 21:18:52 GMT

Mine "unsecured" in September after 12 months,,,,I called them...hard pull on TU (692 FICO). I think for most people lately they will unsecure at 10 months if you call and IF your credit report has no recent derogs. Received $500 auto-CLI upon graduation.

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Thu, 05 Nov 2009 04:10:53 GMT

Thanks for your responses. I will give it another 2 months to make 10 statements from BOA, then call them about unsecuring. No current derogs.

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Sun, 08 Nov 2009 17:06:12 GMT

I got mine in March of 08 and I called to have it unsecured in Feb of 09.

I went from a fully secured $300 to an unsecured $800 CL.

I had never been late with them, usually kept a clear balance by charging small things and paying them off right after, and my (terrible) scores had improved over the course of the year. I'd probably recommend giving them a call around the 9 or 12 month mark depending on how hurried you are to get it unsecured. I wasn't in a terrible rush, and I didn't really use the card too much, so I waited until closer to the 12 month mark to do it.

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Mon, 09 Nov 2009 02:54:27 GMT

Thanks for responding mordedensurrender. Did yo initiate the unsecuring or BOA did it on its own?

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Mon, 09 Nov 2009 02:57:08 GMT

I called them and did it... I didn't really have any real reason, I was just itching to get my deposit back if I recall correctly and I felt like I deserved it.

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Mon, 09 Nov 2009 03:01:28 GMT

thanks

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Mon, 09 Nov 2009 19:47:53 GMT

Mine hits 9 months statement in two weeks. Nov 23 is the day i am going to call in just in-time for the holiday weekend!!

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Tue, 10 Nov 2009 05:14:56 GMT

Good luck. My nine months is end of Dec. Plan on calling them then

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Tue, 10 Nov 2009 05:19:03 GMT

Be careful what you wish for. There have been multiple reports here of secured cards being unsecured - and then cancelled. Those folks all wished their card had stayed secured!

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Tue, 10 Nov 2009 13:53:22 GMT

i just read a very recent post where a BOA card holder requested for a cred line increase (after their card had been unsecured) and BOA responded by a denial then closed the card. Guess need to proceed w/caution with the calls to request for for cards to be unsecured.

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Tue, 10 Nov 2009 13:56:20 GMT

I actually have a BOA Secured card. I called them the other day to go unsecured and the rep told me that they changed their guidelines in September and it was included in the statement that to go unsecured you have to have the card for a full year now. Also if you don’t charge anything for say a month they add on another month.You need to have 12 months of usage. When I applied they told me 9 months, Now I need to wait another 4 months.:-(

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Tue, 10 Nov 2009 15:38:50 GMT

@Anonymous wrote:
I actually have a BOA Secured card. I called them the other day to go unsecured and the rep told me that they changed their guidelines in September and it was included in the statement that to go unsecured you have to have the card for a full year now. Also if you don’t charge anything for say a month they add on another month.You need to have 12 months of usage. When I applied they told me 9 months, Now I need to wait another 4 months.:-(

Thanks for clarifying this matter!

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Tue, 10 Nov 2009 19:12:18 GMT

12 + months it is then, if they say so

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Wed, 11 Nov 2009 03:58:11 GMT

@Anonymous wrote:
12 + months it is then, if they say so

Until they change their mind again...

Re: has BOA been unsecuring their Secured CC lately?

Anonymous — Sat, 14 Nov 2009 21:37:20 GMT

My 99/500 unsecured after 10 statements. I had to call them to initiate. They increased my limit automatically to $1000, but I was brave and asked for a CLI on top of that. They denied me, but I have not received any adverse action.

I put a monthly recurring charge on there so I never have to worry about them punishing me for not using it, but since I also have a Cap1 with a $3000 limit, I don't use it for anything else.