BoA Secured Card Question

[mathman]

Hi folks -

In March of last year, I got a BoA Secured Card with the 1-2-3 Cash Rewards.  I put $4000 on deposit so I could have a reasonable CL.  I use this card very frequently and I PIF every month.  I've always had the idea at the back of my mind that maybe the card wouldn't unsecure after a year or that it might unsecure, but they'd give me a CLD because of the high deposit I put down.  My scores are EX 625, EQ 620, TU 645, so they're not that great.  UTL is 1%, AAoA is about 2 years.  I have some baddies student loans that I've been trying to GW.  They're three 90+ in a row a few years ago that started reporting after my Ch 13 BK discharged.  The only other high limit card I have is a NFCU CashRewards with an 8K limit.

Any thoughts on this?  What do you think will happen when I hit my year mark on this card?

As always, thanks!!!

[Creditaddict]

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@mathman wrote:

Hi folks -

In March of last year, I got a BoA Secured Card with the 1-2-3 Cash Rewards.  I put $4000 on deposit so I could have a reasonable CL.  I use this card very frequently and I PIF every month.  I've always had the idea at the back of my mind that maybe the card wouldn't unsecure after a year or that it might unsecure, but they'd give me a CLD because of the high deposit I put down.  My scores are EX 625, EQ 620, TU 645, so they're not that great.  UTL is 1%, AAoA is about 2 years.  I have some baddies student loans that I've been trying to GW.  They're three 90+ in a row a few years ago that started reporting after my Ch 13 BK discharged.  The only other high limit card I have is a NFCU CashRewards with an 8K limit.

Any thoughts on this?  What do you think will happen when I hit my year mark on this card?

As always, thanks!!!

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usually you can get BofA unsecured at 9 months.

I think your scores are a bit low but if you have been taking care of it and nothing new has happened baddie wise since getting it I think you will be okay.

[mathman]

No, there has been nothing bad to hit my credit report for about three years.  Unfortunately, due to that mixup with my student loans, I know I'm going to pay for it for the full 7 years, since 90+ reports as a major derogatory.  My BK will fall off my CR this year, so I'm hoping that this helps, too.

Basically, I've been perfect with everything for three years.  All three reports have hovered at the same score range for the last year or so.  

I don't want to tempt fate, so I'm going to wait the full year for the card to unsecure.   Hopefully, it will on its own.

Thanks!