@Anonymous wrote:So If I can piggt back on this question - I've had my BofA Secured Card for I believe 4-5 years now (It's been so long, I don't remember the exact year). I put down the initial $300 depost and then about 1 year later, received an auto $300 CLI. I've since then used and paid the card off multiple times, and requested graduations multiple times - all denied. I got the secured card in my credit building phase, but have since acquired multiple unsecured cards including one with a $10,000 limit.
That said, I'm considering closing my BofA secured card before my next annual fee payment in April of 21. The limit is sticking at $600 ..and just seems pointless now- especially with an annual fee. I tried the CLI link that has appeared for years no - only to receive the 7-10 day limit. I'm considering requesting graduation 1 more time before I just opt to close it - as I don't truly need it and I don't want to keep paying annual fees for nothing.
Anyone know if the graduation requests cause a HP or a SP? Is it worth it to even bother trying since I have such high limits on other cards?
@Anonymous Graduation should not be a HP.
How is your overall credit profile?
You did not mention your EX or TU score?
Any derogatory or delinquency that may impact the graduation process?
What were the reason(s) for denial from the letter(s) received?
@Anonymous wrote:It's been a short while since I pulled my scores, but Experian is at around 630 and TU over 640. I just received significant CLIs on all of my other cards which will significantly cut my util and I've been making large payments on other cards, to lower utilzation which is the only challenge to my credit at this time. The BofA card has a negative 1.10 balance. No collections - no charge offs or any other baddies.
I haven't requested graduation in over a year, but the denial reasons were banking relationship (I pulled all but 15% of my direct deposit out of BofA and moved it to my CU) and utilzation - which has gone from nearly 95% to less than 40 at this point.
I don't exactly know what goes into BoA graduation process. I would guess that having scores above 700 and utilization below 30% (or the lower the better) may help your endeavor? Perhaps, optimize your credit report and make sure it's updated before asking for graduation? Seek AZEO All Zero Except One Card reporting a balance, if possible.
@Anonymous wrote:Thank you!
You are welcome. If you can graduate, it's a great account to hold onto. If it's the Americard, then can product change to Cash Rewards or Travel Rewards. Good luck, hope to read of your future success.
I think they are holding your overall utilization against you. With no negatives on your report, your fico score is being held down by utilization. BTW, when I first tried to change my Americard to another product (Travel Rewards) after graduation, 2 different reps told me it was not possible. It was only when I asked to close the card that another rep told me it is possbile 
I ended up getting approved for their Travel Rewards. Was told when I called in to close my Americard that I should have just PC. Still a bit bitter about burning an application when I didnt need to.
@kudosalert wrote:I think they are holding your overall utilization against you. With no negatives on your report, your fico score is being held down by utilization. BTW, when I first tried to change my Americard to another product (Travel Rewards) after graduation, 2 different reps told me it was not possible. It was only when I asked to close the card that another rep told me it is possbile
I ended up getting approved for their Travel Rewards. Was told when I called in to close my Americard that I should have just PC. Still a bit bitter about burning an application when I didnt need to.
Thanks. I'll definitely keep that in mind. If the card had no AF, I'd put it in a drawer and keep going, but I just don't want to keep paying a high AF. I do agree about the utilization. I'm working on it and making large payments to get everything down as much as possible
@Wavester64 wrote:
@Wavester64 wrote:
@Wavester64 wrote:So if you check my signature, I have the (secured) BOA Cash Rewards Card.
As suggested on here I am wating for the 5th month of having the card opened before attempting graduation.
For those who have graduated secured cards, be it BOA or another lender, is it custom that once the card graduates they provide you automatically with a CLI - or does that have to be done separately and at another time?
I am hoping that is done @ graduation - but I wouldn't be surprised if I am wrong on that.
First graduation attempt starts September 18th
Today was the first attempt. CSR asked if I also wanted a CLI, I said yes, I asked what she suggested (in my mind I wanted to say $3K-$5K) she recommended that I try small, so I said OK $2K. After she submitted the application, she said I would be contacted via mail - which to me reads DENIED. Ugh
. Here's to next month's attempt.
So I got the decision in the mail today and it stated the reason for denial was "Your Credit Card account has been open for less than 5-months" besides the fancy verbiage about the economy yadda yadda
TBH, it was opened exactly 5 months at the time, but whatever. Going to take the advice of @DaveInAZ and @kudosalert and wait to at least 8-months before trying again.
::UPDATE:: OK, so Oct 10, I noticed that there was "Luv botton" on my account - checked around to make sure it would not be a HP (I believe I mentioned this on another thread) and confirmed it wasn't, so I gave it a go, and I forget the verbiage, I think it was 7-10 day variety, which to me meant DECLINED. I got no notice or email or snail mail about this at all, and I just happened to be checking my account for something else on 10-17 and I noticed my SL went from $500 to $1500! (I get $10K preapproved CC offers and I get excited about a $1K increase 
) Now today, 5-days after that, I get a check in the mail from BOA for the $99 deposit, and yet still no acknowledgement that the card has been graduated. Even my account still shows the same name of the Secured card on there. Very odd, but these are good things
Congratulations on your CLI and 🎓 graduation!