How long for BoA secured approval?

[jamie123]

I apped for the BoA secured card for a $500 CL last Saturday.

I received the "Your application has been received" message.

How long should it take before I hear something?

[rootpooty]

Call the secured dept the number is listed in the sticky in this forum. Did you check to see if the funds cleared your bank yet?

[Anonymous]

my gf got approved after 3 days. The following morning she saw the withdrawal from her checking acct

[jamie123]

jetsfan,

Awesome! Thanks for the help!

BoA withdrew the money from my checking account yesterday!

I've been rebuilding for a while now. I've heard BoA can be tough on any baddies still on your account.

Guess my file was good enough.

(Doing the HAPPY DANCE!)

Thanks again for the tip!

[-Cain-]

Congrats! BofA dragged its feet with my card, it was a few days before funds were deducted and a few more before I knew their decision. I was getting worried. I did get it though, used it regularly, PIF all the time, and had my card graduated to unsecure at 12 months, doubled CL to $1k, and with a PC to 123 rewards to boot. Treat your card well and BofA should grow with you.

[injustifiiable]

Do you know what bureau they pulled?

[-Cain-]

BofA will usually pull EX for the initial app. They pulled (or were going to pull) TU for CLI, but I cancelled the request when they told me it'd be a hard pull.

[jamie123]

I really wanted this card. I just started rebuilding a few months ago. Its not that I have really bad credit, its that I don't have ANY credit! There is NOTHING on my reports for the past 5 years.

I was divorced about 12 years ago. Right before the divorce, unbeknownst to me, my wife opened multiple credit cards using my then pristine credit. She maxed out all the cards, never paid a dime on them, and then filed for bankruptcy. That left me holding the bag. Creditors were calling me day and night. I became so fed up I closed all my accounts as I paid them off. It was a really trying time for several years making all those payments for purchases I never saw. I washed my hands of ever using credit again.

Well...

I am contemplating buying a house in the next year or so. I found this site and tried buying my score. They gave me my money back because I don't have any open accounts or enough information to generate a score! (That might not look too good to a mortgage lender in the future I thought.)

I opened a Cap1 secured for 900 CL about 2 months ago but really wanted the BoA secured card to use as my primary rebuilding card. Hopefully this card will graduate and unsecure in a year. Its happened for many others on this forum and then BoA treats it as a prime card with generous CLI. (At least that is my hope.)

[Revelate]

BOFA secured is a great rebuilding card, congratulations on the apparent approval and absolutely the right call to establish tradelines now if you're house shopping in a year.

Cain, when you PC'd your card to the 123 Rewards, did it keep the same tradeline history?  I've had two cards graduate with BOFA (back in my cash-based existance days) but never asked about a product change.  I was just planning to let the BOFA card idle with it's $39 AF ad infinitum but if it can be converted to a better card which actually might see some use in the 2-3 year time range...

 Anyway the times I've received it, I usually got the card around a week after they deducted funds but once it took longer, I don't know why.  

[-Cain-]

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@Revelate wrote:

BOFA secured is a great rebuilding card, congratulations on the apparent approval and absolutely the right call to establish tradelines now if you're house shopping in a year.

Cain, when you PC'd your card to the 123 Rewards, did it keep the same tradeline history?  I've had two cards graduate with BOFA (back in my cash-based existance days) but never asked about a product change.  I was just planning to let the BOFA card idle with it's $39 AF ad infinitum but if it can be converted to a better card which actually might see some use in the 2-3 year time range...

 Anyway the times I've received it, I usually got the card around a week after they deducted funds but once it took longer, I don't know why.  

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Revelate, yes my card kept the same Trade Line/history. Unfortunately it also kept the $39 AF. I'll try and work on getting that removed later.