BOA SECURED

[Anonymous]

How does a secured card work. If you put $500.00 down then you have a $500.00 limit?

[Anonymous]

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Badcreditguy wrote:

How does a secured card work. If you put $500.00 down then you have a $500.00 limit?

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That's the general idea, yes. But some secured cards charge an annual fee, so you have to allow for that. BOA secured is a good one to start with, also you might try your local credit union. They are sometimes easier to work with than the banks. Good luck...

[Anonymous]

I applied for the 99/500 card w/ BOA in MAY I was declined but offered me a secured card i sent the online app with a check for $1000. i made the mistake of using my PO box instead of a physical address...that sent my application into a 90+ day loop of requesting additional supportive documentation and deposit checks.

first they wanted another check because the first one was "destroyed", then they wanted a copy of a utility bill as proof of residence. then they requested a copy of photo ID to prove date of birth and to bring it to a local branch office to verify (local branch office NEVER heard of this and I had to walk them through the process), then they requested a third check because the second one was also "destroyed". bottom line i finally received my card FED-EX August 30. the ONLY reason I stuck with it is that they did THREE HARD PULLS on my CR. so I was determined to get through it! NEVER USE A PO BOX AS THE MAILING ADDRESS!!!!! do I sound bitter?

from what i am told and read on this board IWAS THE EXCEPTION.  BofA is a good prime card to have

[Anonymous]

I started with their secured, it was my first, about 2 years ago.  $99 got me a $500 line, after six months of good payments they refunded the $99, and after a year my CL went to $1000, and they recently upped it to a platinum plus, $2K limit.  Easy to work with, no annual fee that I recall, and it ties into my online banking making it easier that way, too...I'd recommend them, even if you had to give a full $500, they're pretty quick to recognize good money management and will refund it, you may ask how long it takes them, though.