Starting Over: First Secured CC BOA

Anonymous · ‎06-21-2019

Before activating my new card, I did something different and read the Credit Card Agreement - all 14 pages. Some words seemed especially noteworthy to quote for the long haul. BOA says, "A decision to return the security deposit is based on responsible credit management across all your credit cards and loans, including Bank of America and others." (page 4) Yes, the others. This means that in this case I will pay each month the Total Minimum Payment Due by the Payment Due Date (the due payment can include past due amounts plus a current due payment). Also good to know is that the Current Payment is at least 25.00 or 1% of balance. This begins new steps towards an unsecured credit; getting back my deposit within a year.

ThetoriParadox · ‎06-21-2019

Good luck!! You got this!

RE-BUILD 2.0
Venmo Card- Mission Lane-Cap1 Walmart- Amex Optima- Cap1 QS- Cap 1 QS1- NFCU Nrewards Secured- Williams Sonoma- Care Credit- Grain- scores hovering around 644-653

FireMedic1 · ‎06-21-2019

Congrats on your new beginning to the credit game. And welcome to the fourms! Treat it right and you'll be rewarded.

Anonymous · ‎06-21-2019

Congrats on your approval....do you mind sharing some of your credit background?

@Anonymous wrote:
Before activating my new card, I did something different and read the Credit Card Agreement - all 14 pages. Some words seemed especially noteworthy to quote for the long haul. BOA says, "A decision to return the security deposit is based on responsible credit management across all your credit cards and loans, including Bank of America and others." (page 4) Yes, the others. This means that in this case I will pay each month the Total Minimum Payment Due by the Payment Due Date (the due payment can include past due amounts plus a current due payment). Also good to know is that the Current Payment is at least 25.00 or 1% of balance. This begins new steps towards an unsecured credit; getting back my deposit within a year.