topic Re: Bofa Secured Card - Graduation in Credit Cards

Bofa Secured Card - Graduation

Anonymous — Wed, 13 Mar 2013 08:29:27 GMT

Hi everyone, I have a secured Bank of America cash rewards credit card with a $2200 CL. I logged into online banking today and saw a pretty button that says "Request Credit Line Increase" - which has never happened before.. I click on it and it asks me how much I want to increase to... I did not proceed.

I bank with BofA, got their securedcard in December.

Is it possible that my card already graduated?

I also have more options in the Service & Info menu like adding a authorized user, requesting CLI, applying for a new card.. Which had never been there before..

Anyone else experiencing this?

Re: Bofa Secured Card - Graduation

Revelate — Thu, 14 Mar 2013 01:47:50 GMT

Yeah, I had that button on my old BOFA secured card; AFAIK it's a non-starter though I never tried it myself.

If you can afford the inquiry on TU I'd be curious what happens if you try it... now that you mention it, I sort of wish I'd tried it when mine was still secured.

Re: Bofa Secured Card - Graduation

HiLine — Thu, 14 Mar 2013 01:50:30 GMT

@Anonymous wrote:
Hi everyone, I have a secured Bank of America cash rewards credit card with a $2200 CL. I logged into online banking today and saw a pretty button that says "Request Credit Line Increase" - which has never happened before.. I click on it and it asks me how much I want to increase to... I did not proceed.

I bank with BofA, got their securedcard in December.

Is it possible that my card already graduated?

I also have more options in the Service & Info menu like adding a authorized user, requesting CLI, applying for a new card.. Which had never been there before..

Anyone else experiencing this?

Unless you request, I doubt your card would graduate early, let alone that early. I had a BofA secured card and experienced the same thing.

Re: Bofa Secured Card - Graduation

BrokaToe — Thu, 14 Mar 2013 02:36:53 GMT

Mine actually graduated automatically at 9 months...I never even requested it. So it is possible but i also did have the luv button present the whole time i had the card. So who knows what they're up to.

Re: Bofa Secured Card - Graduation

angelcred10 — Fri, 15 Mar 2013 02:13:56 GMT

I take it the annual fee is worth it on this card then.. lol

Re: Bofa Secured Card - Graduation

BrokaToe — Fri, 15 Mar 2013 03:13:02 GMT

@angelcred10 wrote:
I take it the annual fee is worth it on this card then.. lol

Oh absolutely! It was only $39 AF, and I offset that with cash back rewards several times in a 9 month period. But when it graduated, they also removed my AF, so I only had to pay it once. But I'm not sure that removing the AF is standard practice, YMMV of course.

Re: Bofa Secured Card - Graduation

HiLine — Fri, 15 Mar 2013 03:32:54 GMT

@BrokaToe wrote:
@angelcred10 wrote:
I take it the annual fee is worth it on this card then.. lol
Oh absolutely! It was only $39 AF, and I offset that with cash back rewards several times in a 9 month period. But when it graduated, they also removed my AF, so I only had to pay it once. But I'm not sure that removing the AF is standard practice, YMMV of course.

+1 on everything

With persistence, I'm sure anyone can get that AF removed though. You can refer to my personal experience

http://hiepsfinance.wordpress.com/2013/01/01/secured-credit-card-graduation/

http://hiepsfinance.wordpress.com/2013/01/30/bank-of-america-is-awesome/

Re: Bofa Secured Card - Graduation

toppers555 — Fri, 15 Mar 2013 04:00:03 GMT

@Anonymous wrote:
Hi everyone, I have a secured Bank of America cash rewards credit card with a $2200 CL. I logged into online banking today and saw a pretty button that says "Request Credit Line Increase" - which has never happened before.. I click on it and it asks me how much I want to increase to... I did not proceed.

I bank with BofA, got their securedcard in December.

Is it possible that my card already graduated?

I also have more options in the Service & Info menu like adding a authorized user, requesting CLI, applying for a new card.. Which had never been there before..

Anyone else experiencing this?

It will be a wasted inq, unless you plan to make another deposit like I did. I pressed it when my visa siggy cash rewards was secured. you will get a letter telling you you need to contact credit solutions , to setup an additional desposit to increase your limit.

Re: Bofa Secured Card - Graduation

BrokaToe — Fri, 15 Mar 2013 04:27:36 GMT

@HiLine wrote:
@BrokaToe wrote:
@angelcred10 wrote:
I take it the annual fee is worth it on this card then.. lol
Oh absolutely! It was only $39 AF, and I offset that with cash back rewards several times in a 9 month period. But when it graduated, they also removed my AF, so I only had to pay it once. But I'm not sure that removing the AF is standard practice, YMMV of course.
+1 on everything

With persistence, I'm sure anyone can get that AF removed though. You can refer to my personal experience

http://hiepsfinance.wordpress.com/2013/01/01/secured-credit-card-graduation/
http://hiepsfinance.wordpress.com/2013/01/30/bank-of-america-is-awesome/

Absolutely, persistence is definitely the key! I was quite surprised they removed mine without me even asking, I just got a letter out of no where saying the unsecured my card, increased the limit and removed the AF. I was for sure sporting a huge smile at that moment

Edit: P.S. I like your blog, very cool

Re: Bofa Secured Card - Graduation

Anonymous — Fri, 27 Sep 2013 12:27:01 GMT

I have multiple prime cards but got a boa secured card 5-6 months ago cause I was denied for there Amex card.. I called back door number and asked if I can get the unsecured card since I made 4-5 payments a month and spending a lot on the card..the rep was so easy to speak with she graduated me from my 1k secured deposit to 2k unsecured, then I was able to call back and convert my card to the Amex I originally applied for..the won't put your deposit against ur balance so they will send a check or deposit in your boa checking or savings acct as I did..she told me multiple payments a month and a lot of activity used on card helps a lot..hope this helps someone