Last q. of the day, I promise 
I just wanted to re-confirm that the BoA secured card, as of late 2008, still is a reliable way to build a credit limit/reputation if I make payments for 9 months to a year. Is this correct? I've done a search and noticed the 9 month mark as the turning point from secured to unsecured. Is this a general pattern/rule or just a coincidence for some of the members? Just curious.
Even though I don't need it, I am a customer of BoA and I want to build a good relationship (credit) with them so I can receive a business loan next summer.
Thanks for your time, as usual.
I just wanted to re-confirm that the BoA secured card, as of late 2008, still is a reliable way to build a credit limit/reputation if I make payments for 9 months to a year. Is this correct? I've done a search and noticed the 9 month mark as the turning point from secured to unsecured. Is this a general pattern/rule or just a coincidence for some of the members? Just curious.
Even though I don't need it, I am a customer of BoA and I want to build a good relationship (credit) with them so I can receive a business loan next summer.
Thanks for your time, as usual.
Yes.
Nine to twelve months seems to be the norm for graduation.
That card sounds SO good that I almost want to put down the money and get one, despite the fact that I only just un-secured my previous (US Bank) secured Visa in May, and should in theory not actually need a secured card anymore. Yeah, sure, I don't NEED one, but BofA hates me and won't pre-app me for anything... I don't even WANT a BofA card, particularly (well, their wonderful ways with CLs would be nice...) but knowing that that 99/500 card is a prize that, if you can get it, will set you on the path for a very good BofA relationship indeed... makes it sound desirable in the extreme!
In short - YES, if you can get that card, do it - it will, if treated right, set you up for BofA for life! Do everything right, and it definitely WON'T be one of those 'we remember you when your credit was so-so, so we're going to treat you accordingly forever' relationships you read about from so many other issuers. If you can get one, go for it!
Message Edited by fevmlo on 07-28-2008 11:38 PM
In short - YES, if you can get that card, do it - it will, if treated right, set you up for BofA for life! Do everything right, and it definitely WON'T be one of those 'we remember you when your credit was so-so, so we're going to treat you accordingly forever' relationships you read about from so many other issuers. If you can get one, go for it!
Message Edited by fevmlo on 07-28-2008 11:38 PM
