Hi casinoannie,
If you absolutely, positively must have a BofA card
and secured is all they are offering, by all means go
for it!
If you can get the 99/500 partially secured card, jump
all over it. If not, BofA's fully secured cards range from
$300-10,000 and it will get you in their pipeline. Take good
care of that card and the sky's the limit for you.
If you can afford it, start with $1,000. This way, the drop in
overall credit limits won't be so drastic when other companies
soft pull your reports. If that's too high, start where you can.
And as far as the other credit card issuers are concerned,
I wouldn't worry about it. What they will focus on most likely is
the BofA tradeline....not that it's a secured card, which doesn't
matter anyway from a FICO score perspective.
The most important thing to "worry about" is not whether a card
reports as secured or unsecured. It's about establishing a
relationship with a world-class financial institution that will serve
you well over time as long as you do your part. BofA will be happy
to offer you the rest of their product line. Just pay early....worst case,
on time. Then all doors will be opened to you.
So to review, go ahead with your plans for the BofA secured card.
And don't worry about the other cc companies.
Hope this helps you. Enjoy the day!
CanDo
"The right attitude is everything"