Bank of America Secured Card Question?

[grigorexxxcore]

I applied for the Bank of America Secured Card and am waiting for my application status to change from "pending..." 

My question is after about 9 - 12 months, does my card automatically switch from secured to unsecured? Or do I need to call and do that?

Also, are most people approved for the BoA Secured Card? I have fair credit and never missed any payments or have any delinquent accounts. I hope I do get approved for this card! It would do me a lot of good!

[vish1]

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@grigorexxxcore wrote:

I applied for the Bank of America Secured Card and am waiting for my application status to change from "pending..." 

My question is after about 9 - 12 months, does my card automatically switch from secured to unsecured? Or do I need to call and do that?

Also, are most people approved for the BoA Secured Card? I have fair credit and never missed any payments or have any delinquent accounts. I hope I do get approved for this card! It would do me a lot of good!

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You should get approved for it with no troubles. It doesn't unsecure automatically. The minimum time frame is 1 year. When I tried to unsecure mine around 10 months mark, they told me that they can not do it before 1 year come what may. I also received a letter in my mailbox saying that they can not consider before 1 year. The rep told me on phone that it will be a hard pull when I call after my card anniversary with them.

On other note, someone mentioned in a post that when he/she declined for hard, he got an letter in his mail 3 days later that its unsecured (with no hard).

I am calling them on 3/1/11 when my card hits 1 year and will decline a hard pull. will post my experience.

[CreditAngel]

One year is required with BOA secured and calling in to request a review, as well.   I called in 3 times ONLY because the first 2 reps told me hard pulls.  The 3rd rep unsecured me with a SOFT pull no credit limit increase.  I waited until the following day called back door number and explained that I did not receive and CLI.  This rep. told me that this was no longer automatic and required a separate review (soft pull) then, he verified my address, phone number, salary, etc.....placed on hold for a while and was given $2000 on top of my deposit of $3000 = $5000unsecured.  I was offered some other perks but would've had to receive a NEW card number and wait 2-4 weeks for a new card to be mailed, I declined.

I started with just $500.00 every 4months I increased the card with my own funds, used the card heavily & PIF every month.

[vish1]

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@CreditAngel wrote:

One year is required with BOA secured and calling in to request a review, as well.   I called in 3 times ONLY because the first 2 reps told me hard pulls.  The 3rd rep unsecured me with a SOFT pull no credit limit increase.  I waited until the following day called back door number and explained that I did not receive and CLI.  This rep. told me that this was no longer automatic and required a separate review (soft pull) then, he verified my address, phone number, salary, etc.....placed on hold for a while and was given $2000 on top of my deposit of $3000 = $5000unsecured.  I was offered some other perks but would've had to receive a NEW card number and wait 2-4 weeks for a new card to be mailed, I declined.

I started with just $500.00 every 4months I increased the card with my own funds, used the card heavily & PIF every month.

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When did you call for review (recently or long back)?

When they talk about new card number. did they mentioned if it will post as new account on ur credit or just change ur card number.

[CreditAngel]

When did you call for review (recently or long back)?  Last week...this was after having the card for 2 years

When they talk about new card number. did they mentioned if it will post as new account on ur credit or just change ur card number. That was not mentioned but that is exactly what I was afraid of  NEW CARD NUMBER =  new account (just for some rewards program, however; I was advised that I could back to add rewards at a later date)

[vish1]

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@CreditAngel wrote:

When did you call for review (recently or long back)?  Last week...this was after having the card for 2 years

When they talk about new card number. did they mentioned if it will post as new account on ur credit or just change ur card number. That was not mentioned but that is exactly what I was afraid of  NEW CARD NUMBER =  new account (just for some rewards program, however; I was advised that I could back to add rewards at a later date)

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Thanks. My card celebrates its anniversary on 3/1/2011. I will call to see if they will unsecure it with no HP. If not I will just say thanks and see if I get a mail in my mailbox saying they will return my deposit or else cancel this before I have to pay my AF (I am no longer willing to pay a AF for a 500CL card when I have been able to get some prime credit at no fee lately)

[danisgods]

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@grigorexxxcore wrote:

I applied for the Bank of America Secured Card and am waiting for my application status to change from "pending..." 

My question is after about 9 - 12 months, does my card automatically switch from secured to unsecured? Or do I need to call and do that?

Also, are most people approved for the BoA Secured Card? I have fair credit and never missed any payments or have any delinquent accounts. I hope I do get approved for this card! It would do me a lot of good!

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I had to call for my card, they were very nice to me, i asked for a CLI right then , it was unsecured and they pumped up my limit from $750 to $1500, with no hard pull.

i had over a year an a half with the secured card, dont know if that mattered , just saying ....

[grigorexxxcore]

So far from what I hear, BofA does a good job at keeping their customers happy. I have yet to wait for an answer in regards of my application, they said to contact them back in about a week, while I feel I will be approved, I hope all will go well

So after about 10 or so months, they close my secured card and issue me out a new card with a new number? Is that correct?

[SocalMark]

What cra does BoA pull?

[Anonymous]

I'd also like to know which CRA BofA pulls. Does anyone know?