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BofA secured to unsecured questions

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Newbie2018
Frequent Contributor

Re: BofA secured to unsecured questions

That's awesome. Congrats to you Smiley Happy
Message 11 of 16
jbsilva21
Regular Contributor

Re: BofA secured to unsecured questions

Just my experience, I had the secured card for a little over a year. Started with $300 and took it to $2K. When it unsecured I had it another year while still rebuilding. One day I was at Target and the card got declined. I called to find out and they had closed the account. I asked why and they couldn’t or wouldn’t tell me. All they said was it is closed and can never be reopened. Puzzled I checked everything on my reports. I had a 620ish score across ththe board. I had some utilization on some other cards but nothing too wild. Never got a letter or a call. I waited a month and called again, same song and dance. Rep told me I could reapply. I said, ma’am I worked hard for this card, I maintain a solid banking relationship for nearly 17 years, even had used their “military banking” back in the day, have paid off car loans, personal loans, and my card was pif for th most part. Why on earth would I trust BoA again to be embarrassed like I was? I am not mad, it’s your money but no explanation? No notification? I travel a lot and put a lot of spend on that card. Thank goodness I had another card. I said thanks but no thanks. Only reason I still use the banking side is because of Merrill Lynch investments which I may be moving to USAA anyway.
Message 12 of 16
Snipper117
Contributor

Re: BofA secured to unsecured questions

Opened my boa secured card $500 in May 2017 with my scores around 620....auto cli in November 2017 bumped me up to $900, by this time my scores were low 700s. Just last week received $500 security returned and 2 days after that got the congratulatory email for going from secured to unsecured.

I did call the day I received the check to inquire about CLI. The representative told me it would basically be a HP and that they pull transunion.

Best of luck !
10/07/2020 BK7 Discharged Papers Received
10/07/2020 FICO 8 SCORES EXP 586 EQU 610 TU 557
Message 13 of 16
Newbie2018
Frequent Contributor

Re: BofA secured to unsecured questions

I take it you meant May 2017 lol. Congrats on your graduation. Hope to be where you are one day.
Message 14 of 16
Newbie2018
Frequent Contributor

Re: BofA secured to unsecured questions

How long does it take to get the security deposit back? It'll come the same way the money was deposited right?
Message 15 of 16
Anonymous
Not applicable

Re: BofA secured to unsecured questions

They had asked if my banking info was the same (it is) and has said electronic transfer in 2-3 days but I ended up getting a check within a week. Not sure why...
Message 16 of 16
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