Good evening Fico family,
i need advise! I have a secured BOA cc with a $1000 limit and I have been considering closing this account. Here is some background of cc I currently have Amex ED, Amex Delta, Amex Platinum Chase FU Chase Sapphire Preferred Barclaycard rewards and Barclaycard Jetblue and Discover which are all unsecured cards. My BOA card will be a year old in November and I was wondering if it was worth it to keep this card open in hopes that it will go on secured with a credit limit increase. I'm leaning towards closing it due to the fact that I have so many other cards that are unsecured. So I need advice from all of you experts on the forum. Any advice and direction would be greatly appreciated!
Hi sleeplessinsf,
Unfortunately this card is still secure it's been almost a year and I spoke with a representative and she says it generally takes about 13 months for them to look at it and decide if he should go on secured and return them deposit . I don't use this a lot only for groceries and gas. The representative advised of course to keep the account open for at least the 13 months through 16 months. And I kind of think I have enough cards and don't really need this one. I didn't want to hard pull since I'm back in the garden for at least a year. But then I only have about five months ago and at that point they would make their decision. But I've read where some people have gone on secured and only a matter of months. What to do! What to do
Hi creditexpresstrain,
Thanks for the response, I didn't know there was a credit line increase button. And like you I don't want the hard pull it's not worth it if I'm declined.
Anusara,
Thanks for responding. Yes I did call to check my status on possibly going unsecured. I received the scripted speech about the Bank looking at the accounts ant where fron the 13th-16th month before making a decision. Side note I also bank with them!
Hello family!
i called BOA again and I got a representative there at the same script! So I went over her head I explain my case that I bank with them, I've never missed a payment and I always pay in full! He advised that they pull from Transunion and of course that's my lowest score! He verifies that the score is not the only thing they look at it look at The overall picture with other accounts and he put me on hold. So now I'm pacing back-and-forth for about three minutes and he comes back and says I was approved oh unsecured with the credit line increase of an additional three $3500 I'm so excited and within 15 minutes my deposit was back into my bank account because I do bank with them and he made my day. Thank you Fico for all of the advice it is so much appreciated wishing you all the best back to the garden!
Congrats! Yes BOA CLIs are almost always a hard pull but they are usually soooo worth it.
