Bank of America Cash Rewards Secured Card

[sghosh5]

Last week i had applied for the unsecured BOA cash rewards card. The application was denied and countered with a secured BOA cash rewards card with the same rewards. I applied with the minimum deposit required, i.e. 300. This morning i saw they debited my bank account for 300 but the application status still shows pending review. As they debited my account, does that mean the card may have been approved?

[Anonymous]

Yes, it means you are all set.  Congrats and enjoy your new card.

[Scott_S]

Yes, they usually don't take the money if they're denying the app, congrats

[sghosh5]

Thanks. Yes i have called their secured credit card line and they said the card have been approved. Question : can we increase the limit of the card by putting more deposits?

[Anonymous]

Yes but be leary when you do so. Most times it will result in a hard pull.

[Anonymous]

Just got off the phone with Bank Of America. Seems they do not issue secured "Cash Rewards" cards and the only secured card they offer is the Silver BankAmericard with zero rewards because since I travel internationally more often then not for work I was requesting to change the rewards structure of my secured card to the travel rewards card which has no international transaction fee. SO more than likely you will be getting the no rewards silver BankAmericard.

Congratulations and please let me know if BofA lied to me today when you receive your card

[sghosh5]

No mine is in fact a secured 1 2 3 rewards card. And i confirmed that already. You are right they dont offer that secured card online. But I initially applied for the unsecured version. They declined that and countered me with secures version of the rewards card which has possibility to graduate to unsecured in future

[Anonymous]

Congrats! That's a pretty awesome deal for a secured card.

[Anonymous]

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@sghosh5 wrote:
No mine is in fact a secured 1 2 3 rewards card. And i confirmed that already. You are right they dont offer that secured card online. But I initially applied for the unsecured version. They declined that and countered me with secures version of the rewards card which has possibility to graduate to unsecured in future

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Ok so now I am pissed about Bank of America lying but happy for you. I too applied for the cash rewards card and declined but was countered with the traditional secured card.

Nothing in this credit games makes sense to me other than the logic

[sghosh5]

Sorry about that. Yes nothing makes sense. Sometimes people with lot lower scores but cleaner history gets premium cards. I just dont know what triggered for me. My credit scores are low 600s and history is not clean either.