topic Re: am I overreacting? in Credit Cards

am I overreacting?

bigblue7722 — Sun, 13 Apr 2014 22:24:45 GMT

My 11th statement just cut with my boa secured card and still no graduation. I was really hoping for an early graduation. Now I am getting worried one my one year mark hits in may they wont unsecure it. Idk what to do. I have earned over 100 dollars in rewards on the card, I use it almost everytime I get gas and go to the supermarket. I have never missed a payment, I have always paid in full. I have my direct deposit with them and been a customer for over 7 years and always have atleast 5k on deposit. I tried calling all the backdoor numbers yesterday but they are all closed during the weekend. I ended up sending their ceo an email asking them what it takes to get the card unsecured. I dont expect an email back. I have called the back door numbers in the past but all they want to do is HP me. I have looked at my credit reports they soft pull me every month. I have added some new accounts, (discover it and chase amazon), but my ulti is like 99%. I have never carried a balance on a card. What would you guys and girls do if you were in my shoes?

Re: am I overreacting?

awiser — Sun, 13 Apr 2014 22:38:14 GMT

Wow, you are freaking out! Breathe in, breathe out. Patience is a virtue. I get where you're coming from here, though. You've been diligent, put in the hard work, and have been responsible, now you want the reward and acknowledgement you deserve. I'd wait for the one-year mark and see what they give you. Then, if nothing, give them a call. Whatever you decide to do, good luck.

Re: am I overreacting?

Chris679 — Sun, 13 Apr 2014 22:42:37 GMT

Call the CA number, take the HP to get it unsecured and ask for a CLI while I'm at it.

Re: am I overreacting?

adavis425 — Sun, 13 Apr 2014 22:49:06 GMT

@bigblue7722 wrote:
My 11th statement just cut with my boa secured card and still no graduation. I was really hoping for an early graduation. Now I am getting worried one my one year mark hits in may they wont unsecure it. Idk what to do. I have earned over 100 dollars in rewards on the card, I use it almost everytime I get gas and go to the supermarket. I have never missed a payment, I have always paid in full. I have my direct deposit with them and been a customer for over 7 years and always have atleast 5k on deposit. I tried calling all the backdoor numbers yesterday but they are all closed during the weekend. I ended up sending their ceo an email asking them what it takes to get the card unsecured. I dont expect an email back. I have called the back door numbers in the past but all they want to do is HP me. I have looked at my credit reports they soft pull me every month. I have added some new accounts, (discover it and chase amazon), but my ulti is like 99%. I have never carried a balance on a card. What would you guys and girls do if you were in my shoes?

Unless this is a typo, I'd focus on getting this under control before I did ANYTHING else.

Re: am I overreacting?

Chris679 — Sun, 13 Apr 2014 22:57:42 GMT

Since they stated they have never carried a balance I think it's safe to say they mean 1% util and 99% is available.

Re: am I overreacting?

B335is — Sun, 13 Apr 2014 23:10:50 GMT

@adavis425 wrote:
@bigblue7722 wrote:
My 11th statement just cut with my boa secured card and still no graduation. I was really hoping for an early graduation. Now I am getting worried one my one year mark hits in may they wont unsecure it. Idk what to do. I have earned over 100 dollars in rewards on the card, I use it almost everytime I get gas and go to the supermarket. I have never missed a payment, I have always paid in full. I have my direct deposit with them and been a customer for over 7 years and always have atleast 5k on deposit. I tried calling all the backdoor numbers yesterday but they are all closed during the weekend. I ended up sending their ceo an email asking them what it takes to get the card unsecured. I dont expect an email back. I have called the back door numbers in the past but all they want to do is HP me. I have looked at my credit reports they soft pull me every month. I have added some new accounts, (discover it and chase amazon), but my ulti is like 99%. I have never carried a balance on a card. What would you guys and girls do if you were in my shoes?
Unless this is a typo, I'd focus on getting this under control before I did ANYTHING else.

Re: am I overreacting?

adavis425 — Sun, 13 Apr 2014 23:11:31 GMT

Which is why I stated it as I did... I ASSUME nothing!

Re: am I overreacting?

bigblue7722 — Sun, 13 Apr 2014 23:12:56 GMT

@adavis425 wrote:
@bigblue7722 wrote:
My 11th statement just cut with my boa secured card and still no graduation. I was really hoping for an early graduation. Now I am getting worried one my one year mark hits in may they wont unsecure it. Idk what to do. I have earned over 100 dollars in rewards on the card, I use it almost everytime I get gas and go to the supermarket. I have never missed a payment, I have always paid in full. I have my direct deposit with them and been a customer for over 7 years and always have atleast 5k on deposit. I tried calling all the backdoor numbers yesterday but they are all closed during the weekend. I ended up sending their ceo an email asking them what it takes to get the card unsecured. I dont expect an email back. I have called the back door numbers in the past but all they want to do is HP me. I have looked at my credit reports they soft pull me every month. I have added some new accounts, (discover it and chase amazon), but my ulti is like 99%. I have never carried a balance on a card. What would you guys and girls do if you were in my shoes?
Unless this is a typo, I'd focus on getting this under control before I did ANYTHING else.

sorry i meant 99% available. I am only using 1% lol

Re: am I overreacting?

bigblue7722 — Sun, 13 Apr 2014 23:15:00 GMT

@awiser wrote:
Wow, you are freaking out! Breathe in, breathe out. Patience is a virtue. I get where you're coming from here, though. You've been diligent, put in the hard work, and have been responsible, now you want the reward and acknowledgement you deserve. I'd wait for the one-year mark and see what they give you. Then, if nothing, give them a call. Whatever you decide to do, good luck.

I guess its just frustrating almost every other day i see someone saying their card graduated. I am just wondering what i am doing wrong and what they did right?

Re: am I overreacting?

peaceonearth — Sun, 13 Apr 2014 23:19:49 GMT

@bigblue7722 wrote:
My 11th statement just cut with my boa secured card and still no graduation. I was really hoping for an early graduation. Now I am getting worried one my one year mark hits in may they wont unsecure it. Idk what to do. I have earned over 100 dollars in rewards on the card, I use it almost everytime I get gas and go to the supermarket. I have never missed a payment, I have always paid in full. I have my direct deposit with them and been a customer for over 7 years and always have atleast 5k on deposit. I tried calling all the backdoor numbers yesterday but they are all closed during the weekend. I ended up sending their ceo an email asking them what it takes to get the card unsecured. I dont expect an email back. I have called the back door numbers in the past but all they want to do is HP me. I have looked at my credit reports they soft pull me every month. I have added some new accounts, (discover it and chase amazon), but my ulti is like 99%. I have never carried a balance on a card. What would you guys and girls do if you were in my shoes?

You stated that you utilize 99% of your CL.

You mean that you use 99% of the card and you pay it off every Month? if that's what you do make sure you pay it off before statment closing date.

Other than the mentioned above, just take it easy my friend you'll get there...

Re: am I overreacting?

DrZoidberg — Sun, 13 Apr 2014 23:17:49 GMT

It took my card 2 years to graduate. 11 months is a little early to be mad about.

Re: am I overreacting?

bigblue7722 — Sun, 13 Apr 2014 23:21:57 GMT

@DrZoiberg wrote:
It took my card 2 years to graduate. 11 months is a little early to be mad about.

two years wow. what did boa say? I have never heard it take that long. After the year comes up for me and its not unsecured forget it. I am getting the sams mastercard so that will be my gas card. Did they atleast remove the anuall fee? I have heard mixed things about that.

Re: am I overreacting?

DrZoidberg — Mon, 14 Apr 2014 00:15:01 GMT

It took 2 years to graduate, 3 years for a cli and I do believe I still pay the AF.

Re: am I overreacting?

DrZoidberg — Mon, 14 Apr 2014 00:15:49 GMT

It's not the one in my sig it's just a BoA MC. I would toss it, but it's my oldest account.

Re: am I overreacting?

bigblue7722 — Mon, 14 Apr 2014 02:42:10 GMT

@DrZoiberg wrote:
It took 2 years to graduate, 3 years for a cli and I do believe I still pay the AF.

this is my only card left that has an AF. Its funny how the tides turn this was my fav card 6 months ago but now i am almost never gonna use it again if i can get approved for the sams mastercard in june

Re: am I overreacting?

bigblue7722 — Mon, 14 Apr 2014 19:12:36 GMT

Well I just heard back from boa eo and I got worse news than when I started. The lady told me that no matter what my credit will be pulled at the 12 month mark or I can request and have them do it earlier. Is this true? I never heard of taking another hp when they do their auto review 12 months. I'm about ready to cancel the card if they really are going to do another hp. Ugh so frustrated

Re: am I overreacting?

azguy13 — Mon, 14 Apr 2014 19:22:16 GMT

@bigblue7722 wrote:
Well I just heard back from boa eo and I got worse news than when I started. The lady told me that no matter what my credit will be pulled at the 12 month mark or I can request and have them do it earlier. Is this true? I never heard of taking another hp when they do their auto review 12 months. I'm about ready to cancel the card if they really are going to do another hp. Ugh so frustrated

There is no need to cancel the card over a HP at the 12 month mark if it is about to graduate. Slow down, take a deep breath, and relax, lol. This really isn't that big of deal at all.

Re: am I overreacting?

Kenny — Mon, 14 Apr 2014 19:22:05 GMT

@bigblue7722 wrote:
@DrZoiberg wrote:
It took 2 years to graduate, 3 years for a cli and I do believe I still pay the AF.
this is my only card left that has an AF. Its funny how the tides turn this was my fav card 6 months ago but now i am almost never gonna use it again if i can get approved for the sams mastercard in june

I don't mean to do the proverbial "kick a horse when they're down" so to speak, but if you're applying for the Sam's Mastercard, you might want to be prepared that they may or may not give you the store card. (Hopefully, for your sake that doesn't happen as I know that would make you very upset.)

Best of luck and patience on the BoA front.

Re: am I overreacting?

Dw4250 — Mon, 14 Apr 2014 20:29:35 GMT

@bigblue7722 wrote:
My 11th statement just cut with my boa secured card and still no graduation. I was really hoping for an early graduation. Now I am getting worried one my one year mark hits in may they wont unsecure it. Idk what to do. I have earned over 100 dollars in rewards on the card, I use it almost everytime I get gas and go to the supermarket. I have never missed a payment, I have always paid in full. I have my direct deposit with them and been a customer for over 7 years and always have atleast 5k on deposit. I tried calling all the backdoor numbers yesterday but they are all closed during the weekend. I ended up sending their ceo an email asking them what it takes to get the card unsecured. I dont expect an email back. I have called the back door numbers in the past but all they want to do is HP me. I have looked at my credit reports they soft pull me every month. I have added some new accounts, (discover it and chase amazon), but my ulti is like 99%. I have never carried a balance on a card. What would you guys and girls do if you were in my shoes?

OP I understand your frustration. As others have said, it is WAY too early to push the panic button. I don't have any experience with BOA, but I had my US Bank secured card 2+ years before it graduated.

I think it is helpful to take a step back and understand what credit cards are, and how credit card companies think. Remember credit cards are one of the few completely unsecured forms of credit we can obtain. The bank only has your word you will pay them back. Nothing else really, when you think about it. Sure they can ruin your credit, take you to court, etc. But say you decide to run up $100K in credit card debt and then permanently leave the country, guess what? CCC loses out big time.

I say all this because banks use extra caution when giving out unsecured lines of credit. That goes double for people with limited and/or bad credit (I would assume you fall into one of those categories since you have a secured card). Ever wonder why it only takes a 640 score to obtain a mortagage with a decent rate, or 620 will get you a car loan, while it takes scores in the mid-700's to qualify for "prime" cards? If you default on the mortgage, bank gets your house. You default on a credit card........birds chirping.

In your case, you've done everything right. You've used the card, paid on time, and PIF. You've built an excellent case that you are a responsible user of credit. You are a dream customer for BOA. But banks have their own internal systems for figuring out who is "worthy" and "not worthy".

The great thing about this situation is your performace is now permanent record (~10 years) for all creditors to see. So if BOA decides not to treat you the way you feel you should be treated...kick them to the curb! That's the beauty of good credit...if you are being dumped on by one creditor, get rid of them and 10 more will be there to replace them (maybe with better terms). But again, 12 months is a little early to pull the plug.

Good luck!

Re: am I overreacting?

Gunnar419 — Mon, 14 Apr 2014 21:05:39 GMT

@DrZoiberg wrote:
It took my card 2 years to graduate. 11 months is a little early to be mad about.

I hope it doesn't take two years for you, OP. But freaking out before a year is up is a little over the top. Relax and have a glass of your favorite beverage. If you don't graduate after 12 months, then make sure everything looks good and call to ask for that "cap & gown" (as somebody else put it here recently).