BoA Secured Card Criteria?

Anonymous — Mon, 30 Nov 2009 12:08:33 GMT

Esteemed Forum Members,

Does anyone know the criteria Band of America uses in determining whether they will approve a Secured Card? Obviously you have to have cash in hand. But what else? No Bankruptcies? No baddies in X months?

I have saved up a decent amount of cash ($5k) and rather than have it sit in a saving account gaining next to nothing in interest, I am thinking that this is the way to go to work on my credit score (Exp reports 610 at the moment). I have three credit cards, and two department cards all with $500 or less in CL. From what I understand, I am getting dinged for not having a higher CL.

TIA for any guidance.

Re: BoA Secured Card Criteria?

Anonymous — Mon, 30 Nov 2009 13:35:43 GMT

You have unpaid judgments. Unfortunately it is possible that you would not be approved. You might want to call and ask a credit analyst what the guidelines are for your particular circumstance.

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BoA Secured Card Criteria?

Re: BoA Secured Card Criteria?