BofA 123 Secured Card Deposit Questions.

[skorpyo3]

So, BofA widthdrew 3k for unsecured deposit today. However, they are telling me that they won't see it on their end for 5-7 business days. Seems like a pretty long time, since they already pulled the funds. I called my bank. They said it shouldn't take longer than 1-3 business days. Can anyone tell me how long the process took? I bank with Patelco CU(Not BofA). Thanks!

[gibeon]

I don't have the BoA card, but when I was looking at it, my understanding was about three weeks total (or a little less) from application to card in the mailbox.

Cap one is about a week to acknowledge funds. Discover was about 4-5 days. So 5-7 isn't crazy.

Hth,
Gib

[Erusidhion]

    Everyone says a different time frame for everything when someone asks. It could take 5-7 days but I doubt it. I don't think you have anything to worry about though. I think it took about 2-3 weeks to get my card after I signed up/the deposit was taken etc. You will be alright. You can try to unsecure this card at the 6 month mark with a hard pull but I hear it may unsecure automatically at the 9-12 month mark. I've had mine for about 8 months and thought about calling in to get it unsecured early.

You can also apply for a CLI at the 6 month mark I believe and pay another $99 for another $500 increase to your current limit. Obviously you get the money back when it unsecures. This is definitely one of the better cards to have when it comes to secured. Good luck!