Preselected For a Bank Of America Secured Card

[dcastillo68]

Hello All,

I bank with Bank of America and when I log in I get this message:

DENISE congratulations, you are preselected! BankAmericard Cash Rewards™ Secured Card

Minimum Deposit is $300.00.  Not sure if I should go for it or not. I Currently have Unsecured Capital One Platinum and QS1.  Would be nice to build a credit card relationship with a different bank plus BOA does graduate to unsecured after a year.

Any suggestions.

Also, do you know if I start at $300, can I add additional funds at a future date to make my Credit Line Larger?

Any help will be appreciated

[Booboo71]

Hi Denise and Congratulations!

     Yes, you can add funds to the account but when I had the secured card they would do a pull on my credit report. I have nothing but great things to say about their card. It opened many doors for me and apon graduation it went from 1300 to 2K and then if I remember correctly I called again about a few days later and spoke to a great lady and she raised it to 5K.

Go for it!

[Booboo71]

The pull was to add to my secured card. I worded it wrong!

[dcastillo68]

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@Booboo71 wrote:

Hi Denise and Congratulations!

     Yes, you can add funds to the account but when I had the secured card they would do a pull on my credit report. I have nothing but great things to say about their card. It opened many doors for me and apon graduation it went from 1300 to 2K and then if I remember correctly I called again about a few days later and spoke to a great lady and she raised it to 5K.

Go for it!

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That's awesome!  Thanks for sharing your experience!  I think I'm going for it and deposit $500 to start and see how it goes.

[dcastillo68]

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@Booboo71 wrote:

The pull was to add to my secured card. I worded it wrong!

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They probably hard pull to see if they increase beyond your deposit amount.  Which is all right with me.

Thanks for the response.

[Booboo71]

I say thats a great plan! use it for gas and pay it off every month and you will graduate early (Mine took 11 months) and get a bump in a CLI and get your money the next day back in your account!

Good luck

[dcastillo68]

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@Booboo71 wrote:

I say thats a great plan! use it for gas and pay it off every month and you will graduate early (Mine took 11 months) and get a bump in a CLI and get your money the next day back in your account!

Good luck

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The more I think about ti the more I'm liking the idea!

Thanks

[ddemari]

Boa definitely does a hard pull on TU each time you want to make an additional deposit. It's a good secured card though.

[CountryLivin]

I have heard nothing but good things about BOA's secured card.