Counter-offer from BOA

abbafan · ‎12-27-2014

So I was denied a reguler credit card from BOA. However, they sent me a letter offering me a securedt credit card with an annual fee of $39 (deposit from $300 to $10k) and I'm contemplating. As a comparison, I've had their partially-secured card (99/500) previously for 10 months but I closed it in October (and I kinda regret that). I don't know why I got a slightly worse offer now. I don't think my credit profile looks any worse than a year ago when they offered me a partially-secured card. With the credit cards that I have now, should I get this one? If I decide to proceed I think it'd only make sense if I put at least $1500 on it.

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Anomalous · ‎12-27-2014

Wonder if they would let you re-open your old account? Not sure how BofA operates in that regard, but it's a suggestion.

Keep both your credit and your body in top shape!

Anonymous · ‎12-27-2014

Given the other cards on your signature I don't know that I would bother with a secured card, take care of the cards you have and they will take care of you.

TRC_WA · ‎12-27-2014

@Anonymous wrote:
Given the other cards on your signature I don't know that I would bother with a secured card, take care of the cards you have and they will take care of you.

That. ^

You don't need a secured card.

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Anonymous · ‎12-27-2014

Agreed. Wait 6 months to a year and try BofA again.

Anonymous · ‎12-27-2014

You have no need for a secured card.

JoshuaHolySpirit · ‎12-28-2014

You closed the 99/500 in October? Why?

That makes me think, you don't really want a BOA card. and now you want one?

They wouldn't even PC now incase you take the $39AF secured. Your call.........

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NRB525 · ‎12-28-2014

@abbafan wrote:
So I was denied a reguler credit card from BOA. However, they sent me a letter offering me a securedt credit card with an annual fee of $39 (deposit from $300 to $10k) and I'm contemplating. As a comparison, I've had their partially-secured card (99/500) previously for 10 months but I closed it in October (and I kinda regret that). I don't know why I got a slightly worse offer now. I don't think my credit profile looks any worse than a year ago when they offered me a partially-secured card. With the credit cards that I have now, should I get this one? If I decide to proceed I think it'd only make sense if I put at least $1500 on it.

To clarify the sequence of events, did you close the 99/500 card before apping for the unsecured card?

If so, usually the better way to handle these is to have an ongoing relationship with the bank, the open 99/500 card, and then ask about getting the unsecured.

But to +1 the other comments, you have other cards. If you really want to get back with BOA, go for the AF to get that started again, otherwise, wait 6 months and tend to the existing cards you have.

Good luck!

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