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Bank of America Secured Visa® Card Review
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Written by: tonya on 2008-09-15

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tonya's review: I had a major credit setback 4 months and totally destroyed credit. All 3 scores below 500. I decided to go secured route and I was approved for this card. APR 15.99 AF $29

10 Comments

Comment 1 by hjm331
Congrats! on 2008-09-15

Congrats on the new secured card! Take care of it and BOA will take care of you especially when the card unsecures. Word on the street is that they upgrade it to a better card with rewards and double your limit. This is a good card to have for credit rebuilders and wish you the best of luck.
Comment 2 by mrrob
Way To Go on 2008-09-15

The BOA secured card is the way to go, eventually you will be back on top of things
Comment 3 by meya
Smart Move on 2008-09-15

This is a very smart move and with a good bank. It will open doors for the other teir one cards. Congrats on your comeback, it will pay off in the end.
Comment 4 by rockin35
Congrats on 2008-09-15

Congratulations, I'm sure you're on your way to rebuilding things. Rockin35
Comment 5 by thomas1
CONGRATS on 2008-09-15

Congrats on your approval, you're on your way!! 9-12 months of excellent payment behavior, keeping a low balance at billing, you'll be unsecured.

Nice job!!
Comment 6 by rwmtd
Congrats To You on 2008-09-15

I've had my BofA secured card for sometime now and I always make sure that I pay in full every month. Like everyone here has been saying this card will grow with you. Just counting the days until it becomes unsecured.
Comment 7 by casey
Bankruptcy? on 2008-09-15

Does anyone know if you can get this card with a bankruptcy? It is from June 2004, over 4 years now... Can't seem to ket a straight answer from BOA, one rep says yes, one says maybe, a third said no. I don't wan't to waste a hard inquiry for nothing... And also, can you add to the deposit to increase CL while it's secured?
Comment 8 by tonya
THANKS!!! on 2008-09-16

Thanks everyone for the encouragement!!!
Comment 9 by meya
Good Question on 2008-09-16

I have known for banks to turn customers down for secured cards, but I think I would ask them first. This is a good question because I don't want to say "I don't think so" and then you get the big denial. I would talk to someone in customer service... Better yet, go into the bank because I do believe they (online or phone reps) get kudos for approvals and they will probably tell you "Yes" when they know it should be "No"
Comment 10 by relidtm
Congratulations on 2008-09-21

Yeah congratulations on this card, they are good to you apparently I was in a similar boat low credit score etc, they report to the major 3 credit bureaus and they give you back your deposit in 9-12 months, not to mention upgrade you to a no annual fee card eventually as well, great bank and great card... Too bad its 29$ annual fee but that's the price we pay for re-building credit
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