BOA fully secured card question

[money_talks]

Does anyone know or have experience with a fully secured card converting to an unsecured CC with rewards lik cash back 123 that BOA offers on unsecured products?

I apped this week for an unsecured and I hope to get the 99/500 deal. If I don't get the deal, I think I am just going to get a fully secured card.

[Anonymous]

My BOA Secured BOA Platinum Plus Visa unsecured in nine months to the same card unsecured with an AF (kept all the same credit history and reporting to the CB's). Then I called and had it p/c to the BOA Cash 321 Card.

[money_talks]

Wanderer: When you did the PC, did you keep the same TL history and credit card number? Do you know if they had to do a SP or HP inquiry for the PC?

[otter69]

I have a Bank of America Cash Rewards Secured Card (fully secured $300) that I got in August of this year. BoA is one of the best secured issuers for a few reasons: 

• Fees/APR's aren't too bad for a secured card.
• You can get a card with decent rewards... even though it isn't advertised on the site, you CAN get secured cash and travel rewards cards.
• The card graduates with higher consistency than other secured cards... usually after 10 months/a year of good use.

The downside is that the underwriting BoA has for their unsecured cards is a lot more strict that most secured issuers. It's best if you are a builder rather than a rebuilder. They don't mind a thin file. They probably won't mind a baddie or two from 5 years ago. Bankrupcies or recent baddies will probably spook BoA and they might deny, security deposit or not...

[baller4life]

I have the secured Platinum Visa and I am looking forward to it securing next year. BofA is the best secured card with the most consistent graduations. I bank with Wells Fargo but wouldn't touch their secured with a 10 ft pole!!

[credit-hunter]

If you go the fully secured route you can add 1,2,3 cash rewards to it as soon as you are approved.takes 2-4 weeks to receive the card

[Anonymous]

Good question... yes everything stayed the same including the annual fee. They would not convert to a no AF product. APR was 14.9% same as before. They did add $500 to the CL. After usage and time I asked them several times for a CLI and they denied it. Finally, I closed it as I don't pay annual fees.

[hubison97]

Hello, I applied for the BOA Cash Rewards card in Aug. 2013.  I was initially declined then offered the 99/500 deal.  I believe I receive almost all of the same benefits as a regular card holder.  You are able to see your Cash Rewards earnings easily online.  I inquired about a CLI a couple of weeks ago via an online chat and was told they might do a hard pull so I decided not to do it now.  I don't know how long you may have to keep the secured card b/f they unsecured it.  I haven't asked yet.  Yesterday I applied for a Am Ex Blue Cash Preferred and was approved with a 1k CL.  APR is high but it's a 15 mos 0% intro so I'm hoping I can get it down when the 0 expires.  BTW I had very short credit history/ was rebuilding when I applied for BOA in Aug.  After that I was approved for a Neiman Marcus card in Oct.  FICO & Ex scores are 742/747

[FinStar]

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@hubison97 wrote:

Hello, I applied for the BOA Cash Rewards card in Aug. 2013.  I was initially declined then offered the 99/500 deal.  I believe I receive almost all of the same benefits as a regular card holder.  You are able to see your Cash Rewards earnings easily online.  I inquired about a CLI a couple of weeks ago via an online chat and was told they might do a hard pull so I decided not to do it now.  I don't know how long you may have to keep the secured card b/f they unsecured it.  I haven't asked yet.  Yesterday I applied for a Am Ex Blue Cash Preferred and was approved with a 1k CL.  APR is high but it's a 15 mos 0% intro so I'm hoping I can get it down when the 0 expires.  BTW I had very short credit history/ was rebuilding when I applied for BOA in Aug.  After that I was approved for a Neiman Marcus card in Oct.  FICO & Ex scores are 742/747

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This typically varies by individuals, some cards can unsecure as early as 8 months, while others can take up to 12 months.  A lot depends on your history and other factors.