Credit Score: 560 Credit Limit: 300 Age: 35-44

Posted 01/19 2018

I have had this card for over 3 years. Here is my experience. I applied when my score was 560. I got approved and deposited $300 to get my $300 limit. Like many here, I used only a fraction of the limit and paid in full every month. However, unlike many here, I did not get any credit limit during the first two years nor any graduation. However, upon the 2 year mark, I got graduated to an unsecured credit card. I noticed it when I was using the ATM and thought I noticed there was a couple of hundred extra bucks in my checking account. When I checked the app and website, I found a return deposit from my secured credit card and a notification that the card was now unsecured. Into the two and a half year mark, my credit limit was increased to $1000. On my third year anniversary with this card, my limit was increased to $3000.

I would have given this card a 5 star but for a couple of things. Firstly, they report as "secured". Secondly, I still had to pay the annual fee even though I have graduated. However, I kicked up a big fuzz and BOA eventually waived the annual fee for the card. They should do that right away and not wait for a call from the customer. Otherwise, this card has been good to me. The app is very easy to use.

 

Credit Score: 580 Credit Limit: 500 Age: 25-34

Posted 01/19 2018

I actually got this card by first applying for one of BOAs' rewards card (cash back I think). However, I was not approved. Instead, they offered me a secured version which required a deposit of $99 for a $500 limit. I guess you could call that a partially secured credit card. I already had a BOA checking account so I could use their app and manage my credit card. Like others have said here, they do report as secured. I have not graduated yet but will try to upgrade if and when it happens.

 

Credit Score: 590 Credit Limit: 300 Age: 25-34

Posted 01/17 2018

I applied for the BOA secured card when my score was 590. I started off with $300 in deposit and credit limit (the lowest). Since I was focused on increasing my score quickly, I kept my utilization rate low. I only charged my netflix and cell phone bills to the card each month. And I paid it off in full as well. After 6 months, my credit limit was increased to $500 without any additional deposit. After 14 months, I found out that I had graduated to an unsecured card and my initial $300 deposit was returned to my checking account.

My score is now 700 with TU and I just refinanced an auto loan.

 

Credit Score: 540 Credit Limit: 500 Age: 45-54

Posted 01/17 2018

I have been a banking customer with BOA for the longest time but never had a credit card from them. I fell on hard times and then got a "pre-approved" mail from them about their secured credit card. I applied and was approved. Had to deposit $99 but got a $500 limit. Since I was a banking customer, I have been using their app and found that you can pay your card through the app as well. After using the card for 13 months, I was notified that I had "graduated" to an unsecured credit card and my limit has been increased to $3000. My score had also increased to 685 within a year or so from 540.

Since then, I have applied and got approved for about 4 other credit cards with similar and higher limits. I have since canceled my BOA secured card because even though I have graduated, I am still paying the annual fee. And all my other cards have no annual fee and I don't see any reason for that since the card has no rewards.

 

Credit Score: 580 Credit Limit: 300 Age: 25-34

Posted 01/17 2018

Before I applied for this card, I tried Wells Fargo and US Bank and got denied for both their secured credit cards. When I applied for BOA, I did not get my hopes up too high. I got the standard reply that we cannot approve you online but we will mail you within 7 to 10 business days! The next day, I checked my BOA account and found that $300 had been taken a deposit and my credit card number was on the website! So I was approved without them telling me I was!

I was also subscribed to a credit monitoring service at that time (no longer) and got an alert for new accounts on all three bureaus a couple of days later. I noticed that BOA reports as secured. I am actually glad that I got the BOA secured as I could make use of the app (since I had a checking account with them) to pay my bills and monitor both my checking and credit card account.

It has been over a year and I still have not graduated. But I am patient and am pretty sure it will happen sooner or later.