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B of A secured card should I do it?

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llecs
Moderator Emeritus

Re: B of A secured card should I do it?


@TheR105 wrote:
Forgot to ask if they will pull my credit again if so no for sure.

IME (x3), they will pull again for the secured approval.

Message 11 of 27
Anonymous
Not applicable

Re: B of A secured card should I do it?


@llecs wrote:

@TheR105 wrote:
Forgot to ask if they will pull my credit again if so no for sure.

IME (x3), they will pull again for the secured approval.


+1  Yes, definitely a different hard pull for a BoA secured card.

Message 12 of 27
clocktick
Valued Contributor

Re: B of A secured card should I do it?

I had a BOA secured cc with a large amount but it never graduated and I had it over a year.  They denied me for a regular cc so I decided to close my secured and apply elsewhere.  I think it was 13-14 months old.  As others have stated, it's a HP to attempt to secure to a regular cc.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


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Message 13 of 27
Anonymous
Not applicable

Re: B of A secured card should I do it?


@clocktick wrote:

I had a BOA secured cc with a large amount but it never graduated and I had it over a year.  They denied me for a regular cc so I decided to close my secured and apply elsewhere.  I think it was 13-14 months old.  As others have stated, it's a HP to attempt to secure to a regular cc.


Did they give you a reason?

Message 14 of 27
-Cain-
Valued Contributor

Re: B of A secured card should I do it?

The reason I was given for why they hard on a CLI request was to check on how the CR looked since the original app and make sure it hasn't turned south from where it was.
Message 15 of 27
Anonymous
Not applicable

Re: B of A secured card should I do it?


@-Cain- wrote:
The reason I was given for why they hard on a CLI request was to check on how the CR looked since the original app and make sure it hasn't turned south from where it was.

I thought that's why they do continual soft pulls every month or so.

 

Oh well.  I guess that's what it's coming to these days.

Message 16 of 27
-Cain-
Valued Contributor

Re: B of A secured card should I do it?

I haven't experienced it yet, but have asked on a few occasions while I've called for other matters. Only once did a rep tell mr it shouldn't be a hard, the other 5-6 reps all said it'd be hard for that reason. I was thinking of increasing soon, so I'll update the board if I do, but after reading a higher CL doesn't mean much at graduation, I may hold off.
Message 17 of 27
Goalof800
Valued Member

Re: B of A secured card should I do it?

Would you mind sharing your score/inquiries? Also, did you have a banking relationship with them?

 

I will be applying for a regular BoA card within the next two months, and would like to estimate my chances

AMEX Zync (NPSL) | AMEX SPG ($5,600) | BoA Cash Rewards ($5,000) | WF Visa ($5,000)
Message 18 of 27
Anonymous
Not applicable

Re: B of A secured card should I do it?


@-Cain- wrote:
I haven't experienced it yet, but have asked on a few occasions while I've called for other matters. Only once did a rep tell mr it shouldn't be a hard, the other 5-6 reps all said it'd be hard for that reason. I was thinking of increasing soon, so I'll update the board if I do, but after reading a higher CL doesn't mean much at graduation, I may hold off.

I suppose I could see why they'd pull a hard for graduation.

 

There have been other posters who have written about having low limits on their secured cards and getting decent limits upon graduation.  Unfortunately I do not know exactly which thread this was in.

Message 19 of 27
TheR105
Regular Contributor

Re: B of A secured card should I do it?

Yes, I bank with them and have been for at least 5 years. Myfico TU 659 6/30/11 Myfico EQ 638 6/30/11 EX 648 denied delta amex card 6/27/11 Old delinquent accounts was the reason. I have 5 charge offs that are all paid but 3-6 years old.
Message 20 of 27
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