How exactly does the BoA Secure CC graduate and should i take a hit on a HP to PC?

[wilmer007]

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@grillandwinemaster wrote:

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@wilmer007 wrote:

only problem is she was looking at the notes and informed me that my card graduated a few days ago on 4/27/17 and not june of last year. so now 3 different CSRs have given me 3 completely different responses about my graduation. And you guys expect me to spend and give business to BoA when they can't even get something so simple done right.

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If it truly graduated, you would have received your security deposit back. So it clearly did not graduate back in January.

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i never gave a deposit. hence why it was partially secured.

[grillandwinemaster]

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@wilmer007 wrote:

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@grillandwinemaster wrote:

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@wilmer007 wrote:

only problem is she was looking at the notes and informed me that my card graduated a few days ago on 4/27/17 and not june of last year. so now 3 different CSRs have given me 3 completely different responses about my graduation. And you guys expect me to spend and give business to BoA when they can't even get something so simple done right.

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If it truly graduated, you would have received your security deposit back. So it clearly did not graduate back in January.

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i never gave a deposit. hence why it was partially secured.

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Partially secured usually refers to the $99/500 secured card.  Here, you put up $99 in exchange you get a $500 sl. 

If you didn't make a deposit, it doesn't sound like you ever had a secured card. By definition, a secured card requires funds to secure the banks interests in the event of default. 

[wilmer007]

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@grillandwinemaster wrote:

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@wilmer007 wrote:

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@grillandwinemaster wrote:

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@wilmer007 wrote:

only problem is she was looking at the notes and informed me that my card graduated a few days ago on 4/27/17 and not june of last year. so now 3 different CSRs have given me 3 completely different responses about my graduation. And you guys expect me to spend and give business to BoA when they can't even get something so simple done right.

---

If it truly graduated, you would have received your security deposit back. So it clearly did not graduate back in January.

---

i never gave a deposit. hence why it was partially secured.

---

Partially secured usually refers to the $99/500 secured card.  Here, you put up $99 in exchange you get a $500 sl. 

If you didn't make a deposit, it doesn't sound like you ever had a secured card. By definition, a secured card requires funds to secure the banks interests in the event of default. 

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when i applied for it the banker never asked for a deposit as it came with a $39 AF. then when i tried to PC in the past they would tell me that my card was partially secured. the card normally comes with $0 AF if it is not secured while the secured card does come with a $39 AF and a deposit. so the partially secured statement is true based on this and the fact that i was charged a $39 AF last year with no deposit required.

[Anonymous]

I've been dealing with this for the last few weeks as well. I have a cash rewards that I was told was secured but not collateralized. Same deal -- 39 AF and a $500 starting limit. Zero security deposit -- in fact until I tried to increase the credit limit I had no idea it wasn't a normal unsecured card. Of course calling it secured is basically a misnomer which every rep eventually concedes. I've spoken to probably ten different BOA employees and even a branch manager (who was very nice but by far the least knowledgeable) about the card. I was told that it was eligible to graduate at either 5 mos or a year depending on who I talked to in various conversations. At one point I was even HP'd before I was told I was ineligible which was super obnoxious. 

What I've gathered is that it's a starter card handled by the secured card department and sort of an in-house semantical nightmare. It's not eligible for a credit line increase until after the 5th statement. So some reps unfamiliar with the product think it falls under the collateralized secured card rules (1 year) even though it doesn't. But really that's just a guess.

Today after my fifth month I saw the request CLI button appear online for the first time so I hit it and asked to increase my credit line to $3k from $500 and it gave me a 7-10 day message. I called immediately and spoke to a secured card specialist after a few transfers who said she could unsecure it and raise the limit to $1.5k and no higher. Then I tried again with the luv button and I was able to be immediately approved for $5k. I'm not sure why I even tried except that I had a similar experience with AAFCU a few weeks ago where a rep hemmed and hawed about a SL that I was able to double easily with another CSR a few days later. 

[wilmer007]

did you get a HP on those 2 CLI (one with the CSR and one from the LUV button)?

[Anonymous]

Just with the CSR to convert it to a normal card, but there is no way around that from my understanding. The luv button didn't generate another HP. 

[Anonymous]

I'll be dealing with this in a few months (99/500 card with a $39 AF).  I really don't feel like dealing with this, so I plan on making one phone call. At the end of that phone call, the $39 AF will be waived without fuss or the card will be cancelled. 

The 3-2-1 BOA is a nice card, but I got unexpectedly got the Freedom and Citi DC within weeks of getting approved for the BOA. It's a nice card, but I wouldn't have gotten it if I'd known the DC was right around the corner.  The Citi/Chase/Discover redemptions are just so much easier to deal with. No BOA bank account, and I really don't care to deal with paper checks if I don't have to (I avoid statement credit options when possible).

[grillandwinemaster]

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@wilmer007 wrote:

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@grillandwinemaster wrote:

---

@wilmer007 wrote:

---

@grillandwinemaster wrote:

---

@wilmer007 wrote:

only problem is she was looking at the notes and informed me that my card graduated a few days ago on 4/27/17 and not june of last year. so now 3 different CSRs have given me 3 completely different responses about my graduation. And you guys expect me to spend and give business to BoA when they can't even get something so simple done right.

---

If it truly graduated, you would have received your security deposit back. So it clearly did not graduate back in January.

---

i never gave a deposit. hence why it was partially secured.

---

Partially secured usually refers to the $99/500 secured card.  Here, you put up $99 in exchange you get a $500 sl. 

If you didn't make a deposit, it doesn't sound like you ever had a secured card. By definition, a secured card requires funds to secure the banks interests in the event of default. 

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when i applied for it the banker never asked for a deposit as it came with a $39 AF. then when i tried to PC in the past they would tell me that my card was partially secured. the card normally comes with $0 AF if it is not secured while the secured card does come with a $39 AF and a deposit. so the partially secured statement is true based on this and the fact that i was charged a $39 AF last year with no deposit required.

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I stand corrected.  B of A is a funny bunch indeed!