Bank of America Partial Secured - Should I Apply?

[Meanmchine]

Ive never recommended this to anyone but I suggest to you looking into Lexington Law and pay them to help get your files clean

[Anonymous]

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@Meanmchinewrote:

Ive never recommended this to anyone but I suggest to you looking into Lexington Law and pay them to help get your files clean

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I hired them when I got my Capital One in Jan 2015.

I just fired them after they spent 3 years costing me $3000 to do... nothing.

They cite "68 removals!" -- but my credit report looks identical as to when I started -- except that several of the ones they considered "successfully removed" came back reporting as new collections without the original data or reporting date.

[Anonymous]

When I decided to join this forum and go on an app spree this week, I also decided to fire them and start managing my own reports. I'm going to order all 3 and start handling it. I even bought a nice big HON filing cabinet to help me stay organized. :-)

[Meanmchine]

There are other resons listed on your rejection letters. Dont think that 6 months in the garden will fix most of them. You must be proactive. Take each denial and see how you can improve it. Pay down balances if thats a problem. Set your sights for more obtainble goals rather then getting a prime card. If I were you, Id be camping out the rebuilding threads and not the application/approval threads

[Anonymous]

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@Meanmchinewrote:

There are other resons listed on your rejection letters. Dont think that 6 months in the garden will fix most of them. You must be proactive. Take each denial and see how you can improve it. Pay down balances if thats a problem. Set your sights for more obtainble goals rather then getting a prime card. If I were you, Id be camping out the rebuilding threads and not the application/approval threads

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The only reason I'm still here is for the sake of learning.

I plan to take some suggestions I received today and head over to rebuilding to pull my credit reports and start working -- and to the garden to get some aging.

My total utilization is $1084 / $17900 (5% total util)

I have 5 cards at 0.57%,1.19%, 6.5%,, 9.24%, and 61.55% utilization, respectively, and 11 more at 0% utilization (4.94% average)

This thread in particular is kind of beating a dead horse -- I've already been approved for the BoA and moved on with the suggestion of one of the members who suggested calling recon after getting my checking/savings accounts in order.

[Anonymous]

You are on the right path.

1. Use the cards you have now to rebuild/garden

2. Pull your credit and fix any baddies

3. Drop your UTLto under 5% on each card and overall

4. Do not apply for anything for a least 12 months

5. Keep coming back to the forum for more knowledge.

6. Start your emergency fund if you don't have one already

7. Close unnecessary cards

[Anonymous]

I would get the 99/500 card.  I got mine last year. Used it for a couple of months.  Unsecured to a 1000 dollars at 5 months.  Cancelled at 11 months. And then they started offering me sign up bonuses to get a bew card with them.  So I applied for the Premium Rewards card with 50k sign-up and was instantly approved with 20k limit.   

[Anonymous]

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@Anonymouswrote:

I would get the 99/500 card.  I got mine last year. Used it for a couple of months.  Unsecured to a 1000 dollars at 5 months.  Cancelled at 11 months. And then they started offering me sign up bonuses to get a bew card with them.  So I applied for the Premium Rewards card with 50k sign-up and was instantly approved with 20k limit.   

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I did earlier today! I took one of the previous poster's suggestion and called the recon line after getting that little fee situation resolved, and sure enough, they approved me! The security deposit has already been debited from my  account. I'm so excited! That's 3 primes!

Could you tell me a little bit more since your experience seems to be much more recent? I've read a lot about others but it all seems older. How did you use it to get it unsecured in just 5 months? Lots of small purchases? A few big purchases? Pay in full or carry a balance? Paid multiple times throughout month, PIF before statement, or just made payments as they became due?

Also, congrats on the upgrade. I hope to be where you're at one day! What's a BEW card?

[Anonymous]

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@Anonymouswrote:

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@Anonymouswrote:

I would get the 99/500 card.  I got mine last year. Used it for a couple of months.  Unsecured to a 1000 dollars at 5 months.  Cancelled at 11 months. And then they started offering me sign up bonuses to get a bew card with them.  So I applied for the Premium Rewards card with 50k sign-up and was instantly approved with 20k limit.   

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I did earlier today! I took one of the previous poster's suggestion and called the recon line after getting that little fee situation resolved, and sure enough, they approved me! The security deposit has already been debited from my  account. I'm so excited! That's 3 primes!

Could you tell me a little bit more since your experience seems to be much more recent? I've read a lot about others but it all seems older. How did you use it to get it unsecured in just 5 months? Lots of small purchases? A few big purchases? Pay in full or carry a balance? Paid multiple times throughout month, PIF before statement, or just made payments as they became due?

Also, congrats on the upgrade. I hope to be where you're at one day! What's a BEW card?

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That should be new card.  They were offering me the 3-2-1 Cash Rewards that I previously had with no fee and 150 dollar sign-up bonus for 500 dollar spend in 3 months.  At this point I wouldn't sign up for a card for less than 250 dollars so I was not interested.  

I used the card for 2 months for all my purchases. Probably paying 3 times a week.  I am not sure how much I put on it but I did earn 85 dollars in rewards in 2 months.  At five months the request credit limit increase button showed up. So I clicked it went to pending. And later that day they put the 100 dollars back into my checking and increased my limit to 1000 dollars.  

[Anonymous]

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@Anonymouswrote:

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@Anonymous

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That should be new card.  They were offering me the 3-2-1 Cash Rewards that I previously had with no fee and 150 dollar sign-up bonus for 500 dollar spend in 3 months.  At this point I wouldn't sign up for a card for less than 250 dollars so I was not interested.  

I used the card for 2 months for all my purchases. Probably paying 3 times a week.  I am not sure how much I put on it but I did earn 85 dollars in rewards in 2 months.  At five months the request credit limit increase button showed up. So I clicked it went to pending. And later that day they put the 100 dollars back into my checking and increased my limit to 1000 dollars.  

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That's amazing. Thank you for your feeback! ....... but wait a sec.. how were you earning rewards on a partially secured card!? Mine came with no such offer for cash rewards!