topic Re: Anyone with lower scores get a CLI from BOA Secured? in Rebuilding Your Credit

Anyone with lower scores get a CLI from BOA Secured?

Anonymous — Wed, 25 Jan 2017 18:40:21 GMT

I've searched several old posts and seems everyone that gets approved was around 700. Anyone low to mid 600's get approved with a secured, Bank Americard? I've ignored the CLI button now for over a month as my scores are finally starting to climb again. Paying in full last month a week before the statement due date seemed to be the trick for a 13 point jump.

Re: Anyone with lower scores get a CLI from BOA Secured?

Anonymous — Thu, 26 Jan 2017 06:22:21 GMT

There are "many" data points which are used when a decision is made on the topic of Credit.

One of the data points is a credit score, which is also a composite of many data points which are blended up together to come up with a data point.

The slippery slope here is to find "confirmation bias". In doing so, it is real easy to get one's heart broken if the outcome isn't what one wishes, when they think they deserve it based upon (enter anything here).

Concerning a BOA secured card becoming unsecured, the earliest is about 6 months. But that data is from the people who got it un-locked at that time interval.

We do not see many people jumping up and down both posting & saying they got Un-Secured at 12 months, 18 months, or 24 months.

* do all that you can to improve your "credit". That includes FICO 8 scores, 3+ lines of revolving credit, installment lines, payment on time, high Average Age of Accounts, ect . . . .

Best Wishes!!!!

@Anonymous wrote:
I've searched several old posts and seems everyone that gets approved was around 700. Anyone low to mid 600's get approved with a secured, Bank Americard? I've ignored the CLI button now for over a month as my scores are finally starting to climb again. Paying in full last month a week before the statement due date seemed to be the trick for a 13 point jump.

Re: Anyone with lower scores get a CLI from BOA Secured?

biglista88 — Thu, 26 Jan 2017 07:19:04 GMT

I am hoping someone can answer thus question for me as well. I just picked up the secured Americard a few weeks ago and hoping that it unsecures within a year.

Re: Anyone with lower scores get a CLI from BOA Secured?

Cherekas — Thu, 26 Jan 2017 16:09:06 GMT

Your BOA card should unsecure within 12 mos. Years ago possibly 8-9 years, I started my journey with them as a secured card and within 10 mos my card went unsecured and I received my deposit back. My deposit was initially $400 and when it unsecured they added an additional $500 increase. I only used my card for gas and groceries mostly. I paid it in full each month and it worked very well with building my credit.

Re: Anyone with lower scores get a CLI from BOA Secured?

Anonymous — Thu, 26 Jan 2017 17:26:38 GMT

lol. Thanks Dr. Sebastian.

I'm just hesitant to click my CLI button even though I'm at the 7 month mark. If I don't do it now and wait for another TU jump I'm looking at the 8 month mark on 2/26. But yeah YMMV.

Re: Anyone with lower scores get a CLI from BOA Secured?

Anonymous — Thu, 26 Jan 2017 18:02:37 GMT

BigLista,

Some get it unsecured within the year. Some get their CLI button within 3 months so watch for that in your account online. It's a blue hyperlink you can't miss when it first pops up. 6 months seems to be the average for the CLI button to pop up which is when I got it.

I just noticed your limits..$300. Ouch. That's what I'm afraid of with applying anywhere else..someone warned me about that on this forum that you're stuck with pocket change credit limits with multiple banks. I kinda just want to see if I can at least get this one over $1500 before going elsewhere.

Re: Anyone with lower scores get a CLI from BOA Secured?

Anonymous — Thu, 26 Jan 2017 18:42:02 GMT

I waited until I unsecured at 10 mos and asked for a cli

Re: Anyone with lower scores get a CLI from BOA Secured?

biglista88 — Thu, 26 Jan 2017 19:30:22 GMT

Not to worried about my current limits they will certainly grow considerably with responsible use. I've had cards grow from $500 to $7k within a year before my chapter 7. My Merrick card will double its credit line in one month (guaranteed). My platinum card was a partial $150 deposit and auto CLI to $600 in 6 months but it's a starter card and almost has served its full purpose.

My QS1 card should get some luv at the 3 month mark and then and auto CLI at ) months. Credit one is a starter card and will be closed at the 1 year anniversary. ( card has fulfilled its purpose). Open sky will refund my deposit when I close it at the 1 year mark.

So you see I'm not currently worried about limits ,as half of my line up are starter cards which you don't apply for hoping for high limits. The higher limits will come with the higher scores. I have a 26k auto loan with a 12k balance and two years of perfect payment history. I'll get those limits in time 🙂