BofA Secured Card... Or no?

[tvandine]

Applied for the Cash rewards card throught BofA, didn't get it. So i get a counter for the secured card at a limit i pick with the money i deposit of course. Who wants to do that? I threw it away. The next week, same thing... This week, secured card, deposit $99 for $500... So what's next week? Should i wait it out, i don't really need or want it but the addiction continues. As you can see in my sig... SO has anyone had any lower offers? Like $49 for $500? 

THANKS

[taxi818]

No that is their bottom line on secured cards. in other words. their best. offer.

I would take it . because it can easily graduate in 6 months with ontime payments. and the sky is the limit after that,

Looking at your siggy. it is better than all those store cards you got. I am surprised with all those low limits.

if you got all that since may. I think it is time for you to run to the garden. asap. until you start getting credit limit increases on the cards you currently have.

Then you will realize that maybe you overdid it a bit. Must ask yourself. will you actually use all those cards. Will be hard. only so much spending a person can do. Congrats. on approvals. but slow pace your self.

[bigblue7722]

Your scores dont really reflect the types of cards you have. Why do you have so many store cards?? You already took the HP and if 99 bucks is not a big deal to you i would take the offer. I would also look into closing some of the store cards. 

[tvandine]

I shop at those stores, now there is a few things that may get closed, i don't use them anymore, and haven't decided to keep for availible credit, or close and chalk it up, Fingerhut, First Premier, Bannana Republic, are on the chopping block! Now as for the rest, i like a good variety of cards to choose from, mind you they are always paid in full, for some logical reason i can't let a balance post, i just can't let it sit inside me that i owe money somewhere! I'll have to overthink the BofA card. I like it, but then again, i don't like paying for a card? Just can't get that concept! I'll figure it out, hopefully they send another one!

[joltdude]

The 99/500 is their best secured offer BTW.. Less someone corrects me.. And has a good history of graduation... Think you can add rewards to it even. You took the HP.... It's worth the 99$

[bigblue7722]

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@tvandine wrote:

I shop at those stores, now there is a few things that may get closed, i don't use them anymore, and haven't decided to keep for availible credit, or close and chalk it up, Fingerhut, First Premier, Bannana Republic, are on the chopping block! Now as for the rest, i like a good variety of cards to choose from, mind you they are always paid in full, for some logical reason i can't let a balance post, i just can't let it sit inside me that i owe money somewhere! I'll have to overthink the BofA card. I like it, but then again, i don't like paying for a card? Just can't get that concept! I'll figure it out, hopefully they send another one!

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Your not paying for the card. Your just locking up 99 bucks  for a year or so then getting it back. Just think of it as a savings account that you cant touch. 

[taxi818]

Well that's the problem. You are not paying for the card. They need to see your history with them. In fact you get you 99 dollars back in 6 months. The purpose of the forum is not what we like and dislike. But what is best in the credit world. You asked we answered. Good you don't so balances. But for score sake. You need to leave small balance in 1 card. Let state show it. Then pay it. I would have no problem leaving small deposit like that. 99 bucks nowadays is very small. They could say we need the whole 500.

[One7]

Yes take the offer and then garden. Within a year you'll have the $99 dollars back and the card will unsecure leaving you with a great prime card. It'll open the doors for the better cards you want in the future.

[joltdude]

You have a First Premier and are annoyed at the low cost of a Boa secured card with the 99/500 offer? Eyeroll