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Written by: debtor00 on 2008-03-26

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debtor00's review: Got denied for whatever it was I was applying for with BofA but was offered the 99/500. Sounded like a good idea, and so far so good. I just hope I get a big ole increase and converion when my probation period of 9 months is over with so we can have a good Christmas 08!

11 Comments

Comment 1 by sethatco
9 To 12 Months on 2008-03-26

The account could be graduated as early as 9 months but as of late and the recent credit crisis BOA is wanting to see a solid year of payments and usage. As for a big CLI on don't count on it. They will usually match what you have put down, so $500 will get you a $1,000
Comment 2 by wildrage2
Still Available? on 2008-03-26

Are they still offering the 99/500?
Comment 3 by lyyssa01
Congratulations!! on 2008-03-26

The 99/500 is notoriously hard to get. I've heard of people applying, knowing that they'll get denied just so they can get the counter offer for the 99/500. But then they end up with an offer for their regular secured card. You're lucky, you'll be graduated in no time with a nice credit increase. :)
Comment 4 by trinity3
99/500 on 2008-03-26

Wildrage2, they are still offering the 99/500. I opened a checking and savings online with BofA and I was chatting with the rep while I was setting everything up. Towards the end, she stated we are offering great deals on the Visa Platinum and I should apply. I knew 2 months ago I was denied but I applied anyway and got the offer for the 99/500. I was estatic just to get my foot in the door. I then asked was this guaranteed approval. She stated if everything verified on my app, Yes:)
Comment 5 by debtor00
Yeah on 2008-03-26

Yeah wildrage, it's a pretty good deal. My little brother began his credit history with 99/500 and a cap 1 a year ago and now he's with the big boys chase and Citi.
Comment 6 by eric
99/500 on 2008-03-27

You can actually graduate this card in 6 months guys... The period is 6-9 months.

thanks
Comment 7 by llay1
How Long Does It Take To Get Denied on 2008-03-27

I heard I got a counter offer and I've been checking the mail religiously but nothing yet... Anyone know how long before I get this letter Im anxious to open a lot of cards before they start appearing on my credit.

BTW my brother added me as an AU on his Chase card. Up 26 points overnight.
Comment 8 by debtor00
I Wonder on 2008-03-27

I wonder if the time that you spend on the 99/500 program is pre determined and spelled out to each individual when they receive the card.

cause the agreement I got specifically said that I could upgrade in 9 months, my brother's took over a year and I've heard of some that took 6 months.
Comment 9 by sethatco
6 Months on 2008-03-27

Is the absolute least amount of time they will review. Given the current credit situation my friend at BOA said they are granting very few requests at 6 months. They would rather see 9 to 12 months of payment history with them as well as any other credit accounts. News flash folks, thanks to the econ all of the banks tier 1 and tier 2 are making it much harder to get cards let alone CLI's. Capital One did it the other day as a promo cause they were loosing market share and needed to get there cards out of the sock draw
Comment 10 by eric
CLI's On The 99/500 on 2008-03-30

I work as a customer service mgr in our credit card call center at BofA... Like I said before its usually 6-12 months before you graduate from the 99/500... Sethco is right, because of the recent credit crunch they don't do a lot of graduations at 6 months... My advise would be use the card for a year, don't go over your CL or pay late and you will be fine.
Comment 11 by trinity3
99/500 on 2008-04-04

Eric, since you work at Bofa, can you say if it makes a difference between PIF every mth vs. Keeping utilization under 30% when graduating from the 99/500 to unsecured?
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