Bank of America - Emerging Credit Platinum Plus Visa

[Dawn]

OK ... this is what I think.  When you go to the BoA credit card site and click on "view all credit cards" it takes you here:

http://www.bankofamerica.com/creditcards/?context_id=all_cards&RequestTimeout=120&cm_sp=CRD-_-All%20...

The cards are categorized and there is a category for "Build or Improve your Credit."  The only card listed here at the present time is "Secured Visa."

But ... when  you check the link for "Visa Platinum" that is categorized only under "Popular Credit Cards" you go here:

http://www.bankofamerica.com/creditcards/index.cfm?context_id=marketing_detail&offer_id=ECOMM0908API...

They market this card as:  "Start building a solid credit history."

I have read several places that BoA reps will suggest this card as a "step up" from the secured card ... so ... maybe they are changing their marketing of this card to reflect that and will eventually list it under the "Build or Improve your Credit" link on their web-site.

[Anonymous]

Thanks Dawn, that was very helpful!

Although my credit history needs rebuilding I was offered an unsecured CC from BOA because we have a long history with them in checking and savings. Only $500 but it's a start.

Then other offers came in the mail

Only I went a little hog wild over the holidays and my utilization was high. I've since paid them down but when I saw this new terminology, it concerned me.

[Anonymous]

I have also noticed my account says that. Mine actually is a secured card, started with a limit of what I put in. It used to just say Platinum Visa, and like yours it now says "Emerging..." I thought at first it was because I was emerging my credit limit, but I think they are just changing the name to let you know you're getting closer to them giving your money back and being able to have an unsecured card. ??? Who knows. After you've had a secured card for a while, they let you apply for a regular one. We'll see what it says next month

[Geordi]

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@Anonymous wrote:

I have also noticed my account says that. Mine actually is a secured card, started with a limit of what I put in. It used to just say Platinum Visa, and like yours it now says "Emerging..." I thought at first it was because I was emerging my credit limit, but I think they are just changing the name to let you know you're getting closer to them giving your money back and being able to have an unsecured card. ??? Who knows. After you've had a secured card for a while, they let you apply for a regular one. We'll see what it says next month

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Well I applied and received a BoA Secured Card in May 2007. In late October 2007, I received an invitation to apply for a BoA Visa. I got the sorry you don't meet our criteria for a BoA card however, you are pre-approved for a secured card.

I thought to myself if I send back the pre-approval with $1000 they would just apply the increase to my current card.

Guess what!?!?!? Now I have two BoA Secured cards. And no they can't be combined until each graduates to unsecured.

Go figure huh?

[Red1Blue]

I have checked my account. My BOA 99/500 card also says Emerging Credit Platinum Plus Visa. 4 more months for it to go unsecured. Just can not wait for the card to Graduate.

[Anonymous]

My Plat Plus Visa card also now says "Emerging Credit" and mine graduated to unsecured a little over a month ago.  I think it's time for a "product change."

[Anonymous]

I still have not been able to clarify what this "Emerging" means. I just notice the name change a few days ago when reviewing online. I start calling BOA then, and as a result I have been receiving conflicting information from various departments and reps. To my knowledge,my credit card was originally a BOA Credit Platinum Plus Visa card. I don't recall my Terms/Conditions info. mentioning anything about a so-called emerging card, that would have to graduate to the regular platinum plus visa, as I was told by the Marketing Department today. The rep. I spoke to with just before that said that I had already had the regular platinum plus visa card. I have never had a secured card, and I never had to make a deposit for this account. I don't like this mess. They have not mailed me any updated information about this "Emerging" card. If I had known this was the kind of card the marketing department explained to me today, I wouldn't have accepted it. She also stated,that I could not do a product change with that "type" of card. I would have to graduate, and receive a cap and gown first, then I would need to apply for the "regular platinum plus visa card". I will be investigating this further. To be continued.........

[Anonymous]

Below is the response I received after contacting customer service. I guess they have unsecured and secured cards like this.

From BOA: This type of account is designed to help you build or restore credit
without the need to secure a credit card using a monetary deposit as
collateral. Please be assured the account is still the Platinum Plus
Visa credit card, this has not changed.

[wmarat]

I have just spoken with BOA and asked to make product switch from emerging credit visa to BOA Amex.

A rep said that i have to unsecure this card and then ask for a change. I pointed out that that card is unsecured, reported to all 3 CRA's as unsecured and there is no secured cards with CL as mine. She checked account history, found that card was graduated on 04/2007 and put request for a product change, promised not to put hard inq. and keep my account age.

[Red1Blue]

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wmarat wrote:

I have just spoken with BOA and asked to make product switch from emerging credit visa to BOA Amex.

A rep said that i have to unsecure this card and then ask for a change. I pointed out that that card is unsecured, reported to all 3 CRA's as unsecured and there is no secured cards with CL as mine. She checked account history, found that card was graduated on 04/2007 and put request for a product change, promised not to put hard inq. and keep my account age.

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hi wamart, how many months before they made it unsecured? When did you notice on your CR that it became unsecured? Did they send your security deposit back to you when they made it unsecured?