BoA Secured

[BT90138016]

Talked to Bank of America the other day about their secured card and how long it takes to graduate to unsecured. I was told that Its an automated system that automatically after a year looks at your file and determines if you qualif for an unsecure acount. Anyone else ever got this response from BoA? 

[Anonymous]

That sounds about right.  If your profile doesn't align with unsecuring at the year mark, they periodically check it afterwards to see if it qualifies then.

A lot of people take the hard pull and request graduation early as well with BofA - they'll graduate in as early as 6 months but it's a HP rather than a softie like automatic graduation.

[baller4life]

I have seen them unsecured automatically as early as 9 months and customer requested unsecured as early as 5 months.

[newhis]

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@baller4life wrote:

I have seen them unsecured automatically as early as 9 months and customer requested unsecured as early as 5 months.

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+1

DW's card auto-unsecured at 9th statement.

[xautodetail]

6 month we HP i have 99/500 on 11/1/2014 i make unsecured last week by yes is take 9 to 12 month for automatic make unsecured 

[northface28]

Does any know if this card will unsecure if you have a BK reporting?

[Anonymous]

Just to add to the thread, I got my BofA unsecured this month.  It was an auto unsecured.

What is odd was that there was no announcement, no fanfare, no congrats, nothing.  No HP either.

I just received the  deposit check in the mail and a note saying they unsecured my card.  The account was 12 months old.

[Kirmie2010]

The 2 people I talked to said generally a secured account will graduate 8-15 months after created with it usually happening at the 1 year mark but there are exceptions.  (which is why I figure they gave the broad range of time for it to graduate)

Ive read of others saying it graduated with a BK but I dont have any personal experiance and most of what I read was from 2013 and 2014.

[skorpyo3]

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@northface28 wrote:

Does any know if this card will unsecure if you have a BK reporting?

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Yes it will! I was advised to charge heavily on their card monthly, and PIF before statement closing date. Also, don't apply for any other credit before graduation. Maintain your positive rebuilding status, and you should be fine. In addition, the credit analysts will look at your entire credit profile, and base their decision on your BofA secured card usage, as well as ability to pay, and other credit card accounts you may have been paying on. Your FICO will have little impact on their final decision. I was told all of this by a very nice Senior Credit Analyst in the Secured Card Dept. They are always very helpful! Good luck! 

[Anonymous]

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@skorpyo3 wrote:

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@northface28 wrote:

Does any know if this card will unsecure if you have a BK reporting?

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Yes it will! I was advised to charge heavily on their card monthly, and PIF before statement closing date. Also, don't apply for any other credit before graduation. Maintain your positive rebuilding status, and you should be fine. In addition, the credit analysts will look at your entire credit profile, and base their decision on your BofA secured card usage, as well as ability to pay, and other credit card accounts you may have been paying on. Your FICO will have little impact on their final decision. I was told all of this by a very nice Senior Credit Analyst in the Secured Card Dept. They are always very helpful! Good luck! 

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So the unsecured analysts want you to only have their BoA secured card and no more? For an entire year?