"Graduated My Secured Credit Card 99/500."
Bank of America Secured Visa® Card Review
Written by: al3243 on 2011-12-13
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
al3243's review: 
After a year of being secured credit card with a $500 limit i called today and spoke to a nice lady and answered all her question then she unsecured my credit card with a $3500 credit limit. 15% apr.
exp.713
eq. 701
trans.717
After a year of being secured credit card with a $500 limit i called today and spoke to a nice lady and answered all her question then she unsecured my credit card with a $3500 credit limit. 15% apr.exp.713
eq. 701
trans.717
11 Comments
Comment 1 by redeye
Re: Graduated My Secured Credit Card 99/500. 
on 2011-12-13
Congratulations on the graduation. Was the card the cash rewards version of the secured card or a non reward cc? Also, what kind of card did they graduate you to?
on 2011-12-13 Congratulations on the graduation. Was the card the cash rewards version of the secured card or a non reward cc? Also, what kind of card did they graduate you to?
Comment 2 by derek1061
Re: Graduated My Secured Credit Card 99/500. on 2011-12-13
Congratulations. I was told that when they unsecure your credit card it still has the annual fee. Is that true?
on 2011-12-13 Congratulations. I was told that when they unsecure your credit card it still has the annual fee. Is that true?
Comment 3 by al3243
Re: Graduated My Secured Credit Card 99/500. on 2011-12-13
Bankamericard cash rewards and no annual fee.
on 2011-12-13 Bankamericard cash rewards and no annual fee.
Comment 4 by wanderer
Re: Graduated My Secured Credit Card 99/500. on 2011-12-13
Congrats! It is great to see a success story. Also, your FICO Scores are pretty good.
on 2011-12-13 Congrats! It is great to see a success story. Also, your FICO Scores are pretty good.
Comment 5 by jusdonit
Re: Graduated My Secured Credit Card 99/500. on 2011-12-14
Congrats. May I ask, did they do a hard pull? I went with my credit union thinking I would get the same or better treatment, but not even close. I have very similar scores. Love the apr. Did you have many inquiries?
on 2011-12-14 Congrats. May I ask, did they do a hard pull? I went with my credit union thinking I would get the same or better treatment, but not even close. I have very similar scores. Love the apr. Did you have many inquiries?
Comment 6 by phynanciallysavvy
Re: Graduated My Secured Credit Card 99/500. on 2011-12-14
It's true... They still charge a ridiculous annual fee, but at least you get your deposit back in the form of a check within a week. I'm sure the reviewer will like that - just in time for the holidays. :)
on 2011-12-14 It's true... They still charge a ridiculous annual fee, but at least you get your deposit back in the form of a check within a week. I'm sure the reviewer will like that - just in time for the holidays. :)
Comment 7 by phynanciallysavvy
Re: Graduated My Secured Credit Card 99/500. on 2011-12-14
Also, not only should his/her score go up for having a larger credit line - especially since it's unsecured now, but the year that the account has been open will reflect as if your credit line has been $3,500 all along... A
One other thing: when they switched me over two months ago, they reported the (positive) changes to all 3 bureaus within 2 weeks.
on 2011-12-14 Also, not only should his/her score go up for having a larger credit line - especially since it's unsecured now, but the year that the account has been open will reflect as if your credit line has been $3,500 all along... AOne other thing: when they switched me over two months ago, they reported the (positive) changes to all 3 bureaus within 2 weeks.
Comment 8 by isadorer
Re: Graduated My Secured Credit Card 99/500. on 2011-12-15
Capital one should do what BOA is doing with theirs secured credit cards,unsecuring it after a year of good payment history.
on 2011-12-15 Capital one should do what BOA is doing with theirs secured credit cards,unsecuring it after a year of good payment history.
Comment 9 by al3243
Re: Graduated My Secured Credit Card 99/500. on 2011-12-16
I just checked my fico no hard full.
on 2011-12-16 I just checked my fico no hard full.
Comment 10 by phynanciallysavvy
Re: Graduated My Secured Credit Card 99/500. on 2011-12-21
Here's the catch to the switch from sec to unsec: BoA only reviews the account ONE time automatically, which is after 12 months. At that point, they either automatically (rarely) upgrade the account, or they just leave it as-is. (Like they did to me.) Three years after having good payment/spending on this account, I had to call them and request the upgrade/CL increase, which resulted in a HI. However, I tag teamed them bc I applied for a separate unsec CC (Cash Rewards) the same day. Both were approved, but only one HI shows. So if you aren't automatically upgraded after your 12th billing cycle, you should wait another 6-12 months and then ask them...
on 2011-12-21 Here's the catch to the switch from sec to unsec: BoA only reviews the account ONE time automatically, which is after 12 months. At that point, they either automatically (rarely) upgrade the account, or they just leave it as-is. (Like they did to me.) Three years after having good payment/spending on this account, I had to call them and request the upgrade/CL increase, which resulted in a HI. However, I tag teamed them bc I applied for a separate unsec CC (Cash Rewards) the same day. Both were approved, but only one HI shows. So if you aren't automatically upgraded after your 12th billing cycle, you should wait another 6-12 months and then ask them...
Comment 11 by phynanciallysavvy
Re: Graduated My Secured Credit Card 99/500. on 2011-12-21
Btw, it's worth noting that anytime you ask the creditor for a CLI, it will almost always leave a HI on at least one CR. BoA has always used Experian for me. (I live in Texas.)
on 2011-12-21 Btw, it's worth noting that anytime you ask the creditor for a CLI, it will almost always leave a HI on at least one CR. BoA has always used Experian for me. (I live in Texas.)
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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.
