"Denied For A Secured Bank Of America"
Bank of America Secured Visa® Card Review
Written by: gotti03ss on 2011-02-28
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gotti03ss's review: 
I was denied for a Bank of America secured card applied in December of 2010. They laughed at me I have a checking and savings account with them I applied for secured card and got that message saying letter is being mailed told denied when I opened. My FICO score was 639 at the time. I have a bestbuy reward crap orchard bank and cap one never been late and never been over limit. I will try maybe next year I'm done applying 3 credit cards is more than enough. Cash is king anyway only applied for cards to show good credit history. Since like most I ruined my credit when I was 18-19 and now I'm 30 will never do that again cash is king.
I was denied for a Bank of America secured card applied in December of 2010. They laughed at me I have a checking and savings account with them I applied for secured card and got that message saying letter is being mailed told denied when I opened. My FICO score was 639 at the time. I have a bestbuy reward crap orchard bank and cap one never been late and never been over limit. I will try maybe next year I'm done applying 3 credit cards is more than enough. Cash is king anyway only applied for cards to show good credit history. Since like most I ruined my credit when I was 18-19 and now I'm 30 will never do that again cash is king.
6 Comments
Comment 2 by wanderer
Re: Denied Secured Bank Of America 
on 2011-03-01
Understand your frustration. Patience (lot's of it) are the best you can hope for. Old saying: "... Man who owns the gold rules..." (credit card issuers). FIA Credit Card Services is something else so getting in the door may take more than one trip.
on 2011-03-01 Understand your frustration. Patience (lot's of it) are the best you can hope for. Old saying: "... Man who owns the gold rules..." (credit card issuers). FIA Credit Card Services is something else so getting in the door may take more than one trip.
Comment 3 by roughdraft
Re: Denied on 2011-03-01
I don't know why BofA might have denied you, but I have read recently that for many banks, providing secured credit cards isn't that profitable. Mainly, because people rebuilding credit are a little reluctant to charging too many purchases, and tend to leave their cards for emergenices. In order for a bank to profit from you, you must use the cards. Citi, Wells Fargo, Compass Bank, Capital One, and many of the credit unions also offer secured cards.
on 2011-03-01 I don't know why BofA might have denied you, but I have read recently that for many banks, providing secured credit cards isn't that profitable. Mainly, because people rebuilding credit are a little reluctant to charging too many purchases, and tend to leave their cards for emergenices. In order for a bank to profit from you, you must use the cards. Citi, Wells Fargo, Compass Bank, Capital One, and many of the credit unions also offer secured cards.
Comment 4 by colonative
Re: Denied on 2011-03-01
Did they provide you with any specific reason for the denial? I know that they frown upon past bankruptcies, so if you filed a bky that is probably the main reason. Both BofA and Citibank will decline a secured card if you had a previous bankruptcy.
Also, if you had any charge off accounts with BofA or any of their legacy banks (ie banks they took over) they will likely decline you. These incude: MBNA, Fleet, NationsBank, SeaFirst Bank etc.
Check with a local credit union instead. Credit Unions are member owned and are known for better service and usually greater flexibility. The big banks need to know that we all have other options.
Good luck!
on 2011-03-01 Did they provide you with any specific reason for the denial? I know that they frown upon past bankruptcies, so if you filed a bky that is probably the main reason. Both BofA and Citibank will decline a secured card if you had a previous bankruptcy. Also, if you had any charge off accounts with BofA or any of their legacy banks (ie banks they took over) they will likely decline you. These incude: MBNA, Fleet, NationsBank, SeaFirst Bank etc.
Check with a local credit union instead. Credit Unions are member owned and are known for better service and usually greater flexibility. The big banks need to know that we all have other options.
Good luck!
Comment 5 by jackmiller
Denied For Secured Bank Of America on 2011-03-06
Check out www.Publicbankcard.com, they have one of the best and do not do credit.
on 2011-03-06 Check out www.Publicbankcard.com, they have one of the best and do not do credit.
Comment 6 by jaynaz
Denied For A Secured BankOfAmerica on 2011-03-15
Sorry to hear that - you should definitely call them up and ask why you were denied. I got a BOA secured card in 2009 when I started fixing my credit and my scores were in the low 500's.
maybe they felt your FICO score was too high for a secured card?
banks are weird. they are good to some customers and bad to others. I don't get it...
on 2011-03-15 Sorry to hear that - you should definitely call them up and ask why you were denied. I got a BOA secured card in 2009 when I started fixing my credit and my scores were in the low 500's.
maybe they felt your FICO score was too high for a secured card?
banks are weird. they are good to some customers and bad to others. I don't get it...
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Disclaimer: This content is not provided by Bank of America®. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Bank of America®. Review content is powered by Finance Globe.
