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B of A secured card should I do it?

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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
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Senior Contributor

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.

IAALBNYL
Message 12 of 27
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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
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Senior Contributor

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?

IAALBNYL
Message 14 of 27
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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
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Senior Contributor

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.

IAALBNYL
Message 16 of 27
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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
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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
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Senior Contributor

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.

IAALBNYL
Message 19 of 27
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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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