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Bank of America secured credit card

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Regular Contributor

Bank of America secured credit card

I have a secured credit card with a $99.00 deposit that was opened 4/20 and got a letter that said they carefully reviewed my application along with economic and loss trends and credit reports provided by the credit reporting agency listed below. we also considered your relationship with us and they are not able to approve to get the card unsecured.The card was open for les than 5 months. Do you think i can get the card unsecured now? Any help would be appreciated. Sorry for the long post. Thank you and be safe.

Message 1 of 25
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Super Contributor

Re: Bank of America secured credit card


@razzy116 wrote:

I have a secured credit card with a $99.00 deposit that was opened 4/20 and got a letter that said they carefully reviewed my application along with economic and loss trends and credit reports provided by the credit reporting agency listed below. we also considered your relationship with us and they are not able to approve to get the card unsecured.The card was open for les than 5 months. Do you think i can get the card unsecured now? Any help would be appreciated. Sorry for the long post. Thank you and be safe.


@razzy116  That is unfortunate about your denial. Generally, 5 months is the earliest for graduation. Try again every following month and beyond until graduation is approved. Not knowing your credit profile, you may want to strengthen it if it is weak.

Message 2 of 25
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Mega Contributor

Re: Bank of America secured credit card

I would keep trying, maybe every 60 days?.

Message 3 of 25
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Regular Contributor

Re: Bank of America secured credit card

I forgot to say, i got the letter on August 3,2020

Message 4 of 25
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Regular Contributor

Bank of America Secured card

I went to my Bank of America Credit card website and went to the services link, i have a Bank of America secured Credit card $99.00 deposit $500 credit limit it says credit limit increase does that mean my card is unsecured? I did not pull the trigger, i have had the card since April 2020. Thank you and be safe. 

Message 5 of 25
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Established Contributor

Re: Bank of America Secured card

If you aren't already graduated/unsecured, you may call customer service to request an early graduation and CLI on your card now.


Smiley Embarassed
Message 6 of 25
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Regular Contributor

Re: Bank of America Secured card

I might have word it wrong, does the limit increase button mean that my secured card graduated? Thank you and be safe.

Message 7 of 25
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Community Leader
Super Contributor

Re: Bank of America Secured card

 

What exactly does it say?



(8/2020)
FICO 8 (EX) 811 (TU) 805 (EQ) 793
FICO 9 (EX) 834 (TU) 823 (EQ) 821

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Artist formerly known as ColdFusion
Message 8 of 25
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Regular Contributor

Re: Bank of America Secured card


@the_old_curmudgeon wrote:

 

What exactly does it say?


I went to the website last night and saw the limit increase button, i don"t remember if i saw the the limit increase button a few weeks ago.

Message 9 of 25
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Contributor

Re: Bank of America Secured card

Hello! It might be a little off-topic, but how were you offered that $99 deposit for the partially secured card? Were you already a BofA customer before that offer?

Message 10 of 25
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