BOA Cash Rewards Rejection

Anonymous · ‎03-29-2018

So I recently applied for the BOA cash rewards card and was denied (EX 665), but countered with the Secured Cash Rewards Card, and upon looking at the terms they sent me, am very intrigued.

It requires a minimum of $300 and maximum of $10000 deposit(which I thought was or used to be $4900) and is giving 1% on all purchases, 2% at grocery stores/wholesale, and 3% on gas.

Has anyone had experience with this? Haven't found much from a brief search. Seems too good to be true! I thought Discover It Secured was the best secured cash back card by far, but this seems to challenge it (though it does have a $39 annual fee).

But I really do want an 'in' with BOA, so I'm strongly considering it. Any thoughts/experiences are appreciated, thanks!

gdale6 · ‎03-30-2018

It would depend what is inline with your spending. Discover has rotating 5% categories, these are fixed on the first 2K or 2.5K in each quarter, dont remember which, havent pulled out this card in a few months from my sockdrawer as Discovers first quarter offered 5% on gas.

Anonymous · ‎03-30-2018

I am surprised they are only offering you fully secured with your score. I got 99/500 version with 520 FICO. Bank of America seems to be good with unsecuring cards quickly with use.

Viva-LV · ‎03-30-2018

@Anonymouswrote:
So I recently applied for the BOA cash rewards card and was denied (EX 665), but countered with the Secured Cash Rewards Card, and upon looking at the terms they sent me, am very intrigued.

It requires a minimum of $300 and maximum of $10000 deposit(which I thought was or used to be $4900) and is giving 1% on all purchases, 2% at grocery stores/wholesale, and 3% on gas.

Has anyone had experience with this? Haven't found much from a brief search. Seems too good to be true! I thought Discover It Secured was the best secured cash back card by far, but this seems to challenge it (though it does have a $39 annual fee).

But I really do want an 'in' with BOA, so I'm strongly considering it. Any thoughts/experiences are appreciated, thanks!

Plenty of posts starting with the secured card, eventually "graduating" to unsecured here. BOA is generous with their cli's, with good use and some history. You don't really have to bank with them to grow their cc's. Been with them since '15, and just this year opened a checking acct. I've always had great service with csr's, and would recommend them in a heart beat. Go for it!