What Is A Secured Credit Card?

[Anonymous]

I just put my information in with Bank Of America Pre Approvals an all they can offer me is a Secured Credit Card should i apply for it. An what is a Secured Credit Card?

[Anonymous]

Well i no what a Secured Credit Card is now should i apply for it maybe this is my foot in the door to get a real Bank Of America card in the near future.

[voidman]

yes you should get the boa secured card.

[Anonymous]

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Voidman wrote:

yes you should get the boa secured card. 

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Why what are my Chances of getting a Unsecured card with them.

[Anonymous]

     You should get it because BOA is a good bank to have a CC with,  good CLs and such.  Some who have had the secured card with BOA say it goes unsecure in 9-12 mths plus most say they get a CLI.  Myself and hubby both have very good relationships with BOA and they have always treated us good.  Good Luck Vicki

[Anonymous]

Vicki wrote:

You should get it because BOA is a good bank to have a CC with,  good CLs and such.  Some who have had the secured card with BOA say it goes unsecure in 9-12 mths plus most say they get a CLI.  Myself and hubby both have very good relationships with BOA and they have always treated us good.  Good Luck Vicki

Thanks Vicki i might just try it out.

[Anonymous]

Also so do Secured cards report to on your credit report?

[Anonymous]

     Yes they report and from what i've read you can not tell they are secured. vicki

[voidman]

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@Anonymous wrote:

     Yes they report and from what i've read you can not tell they are secured. vicki

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not quite correct, I have a secured card and myfico report clearly states that it is a secured card.

[Anonymous]

Vicki wrote:

Yes they report and from what i've read you can not tell they are secured. vicki

Well that's a good thing also i really just wanna have a better chance at getting a good prime card.