BofA Secured Card Graduation

[Anonymous]

Thanks,  I have a Cap One Secured card and recenty read that they do not graduate them at all.  Apparently they have not program to do it a this moment in time.  I can only hope that they change this policy in the next year so I can get out of paying a AF.

[Anonymous]

A year, or a FICO jump to a level where you'd be approved. I'd try calling backdoor after 6mo if you're in better FICO shape!

[Anonymous]

I recently got a 300 secured card through bofa. A back door analyst told me 9 months and the secured dept told me a year. I plan on increasing the limit to 2000 that way when and if they do insecure it they will at least match the amount that I put into it. I would hope if you don't make it at the 12th statement that they do another review and your not stuck with it.

[Anonymous]

I just thought I would give an update.

I got the denial/counter offer letter in the mail today.  It was for the 99/500 partially secured 1,2,3 cash rewards card.  I was unaware that they did this offer with the rewards.  I am pretty pumped up about getting the card now because it is a partially secured rewards card.  APR is high, 20.24%, but that was expected and it has an AF of $39.  Letter says that it will be reviewed for graduation after 12 months.

I called to make the deposit, but the CSR said that for this offer you have to mail in the deposit or go into a branch.  So I went into a branch to get this rolling.  Their was an issue with the offer in the system, hope they did not take it away, but the banker I was talking to on at the branch called someone and we faxed over the paperwork as apposed to making an interbranch transaction.

I am going to keep an eye on the situation, but it appears to be going well for me right now.  The banker said that once they give an account number I would be able to see the account online.

They pulled Experian and I had a FICO of 662.

Thanks for all the advice.

[mAndrew1980]

Nice work! $99 down for a BoA card with a $500 CL? Sound's good to me. BoA is a major  institution with a nice collection of cards.It will be nice to get your foot in the door.

[Anonymous]

It feels nice to be in with them.  The only reason I want one of their cards is because I bank with them.  I just felt I should have a CC to go along with checking and savings.  Not sure how long I am going to be with BofA anymore though.  I am looking at my local credit unions pretty seriously.  I might just open an addition account with the local credit union and go with both for a while.  See what the differences are.

[Anonymous]

That's what I did I opened up a secured with bofa and the same with navy federal. We shall see what happens