Bank of America Secured Graduation

[Anonymous]

I have a young friend with this card. They want to know if upon graduation of the partially secured card, if they can product change it to the Premium Rewards? 

[Anonymous]

I have not yet requested a product change.  Mine graduated last month.  I had gone over the 1 year mark, and was waiting for my 13th statement to cut.  I grew a bit impatient.  I called and they did a manual graduation on the account.  I was denied a credit limit increase, which cost me a hard pull after being told by the CSR that it was not a hard pull.  However, I never thought to request a product change or waive the annual fee.  I'll address that once I have a hard pull to burn.  I clost on my home on Friday of this week.  There are other cards I've been dying to app for.  Once I get those approvals, I'll ask for the product change/af waiver and report back!

Good luck!

[Anonymous]

I'm back!  On April 30, Bank of America charged my next annual fee, and I was disappointed to see nothing had changed.  But when I picked up my mail today, I had two pieces from BoA -- one was a letter congratulating me on graduation to the unsecured card, and the other was a check for the amount of my security deposit.  If not for reading your post about 6 weeks ago, I would have canceled my card and never seen the improvement!

They did not increase my credit limit, but I'm not too concerned about that.  Perhaps they'll do it later, or maybe I'll end up requesting an increase.  Truth is I have two rewards cards with much higher limits that I use for almost everything, so this BoA card is just another way for me to show low utilization and good payment history and doesn't matter so much.  I'm just thrilled that it no longer shows as secured, and I can put that money back in my savings account.  Thanks so much for your helpful post!

[Snipper117]

Congrats and thanks for following up. Personally I was in a similar situation got my $300 secured card in 1/17. I’d say sometime around 9/17 I received a auto cli up to $900 on my secure card.

Sometime in 1/18 I received similar letters to you in the mail refunding my initial security deposit.

Long story short I this week I decided to hit the credit line increase button and I was approved for a cli up to $2700. It was a hp on my TransUnion. Keep in mind that boa many times will use the same HP for 30 days on additional products so right after the cli I appreciate for an additional card and was approved for a 7k limit on the Americard

[Anonymous]

That's awesome! I got the $99/$500 clip card about two months ago. I pay it off every day . I'm hoping the white globes treatment will help with the graduation.

My scores dipped a bit last month due to high utilization on two other cards from 740 to 680 but since paid them off/down.

For now, I guess it's a waiting game.

Thanks for the hope and encouragement.

Your friend,
Paul

[JimBo99]

Hey, gonna highjack the thread for a min.   I've got a fully secured $500 BoA card.   Just had the 5th statement cut a few days ago.  I've read that you can call for a potential manual graduation now?  Anyone know the best number to call to ask?   Thanks 

[Anonymous]

I opened mine on Nov. 2015 with a $300 limit. I bank with them since August 2015, have three checking and a savings account.

Managed to finally graduate it on March 2018, no CLI, HP on TU (scores in 680+).

I don't close it just because its my oldest account, but having the $40 AF for a funny $300 CL is awful.