Found these requirements online. Hopefully it saves someone a hard pull inquiry if they are considering it!
To be eligible for a secured account, you must meet the following requirements:
Minimum age 18
Must be an U.S. citizen or permanent resident with a valid social security number or Tax payer I.D. number with a US mailing address (for nonresident alien, refer to Non-Resident Alien policy)
No Unpaid Bank of America charge-off
No Bankruptcy No Repossession (voluntary or involuntary) < 36 months
No Foreclosure (includes deed in lieu) < 36 months
No known unpaid charge-off accounts > $1000 with any financial institution including retail cards and student loans < 36 months
The Secured Credit Card account will be reviewed for graduation at 12 months. Accounts passing the graduation criteria will be upgraded to an unsecured account. At that that time, notification is sent to advise you that the collateral funds (secured savings) have been released. If the account fails the graduation criteria, the account will be reviewed against specific policy criteria for graduation twice a year.
