I am thinking of applying for a Bank of America secured Visa. I have an account with them, but I am wondering... It says that you have to be approved for a secured card. You have to print out an application and send in a check. I would prefer to just transfer money to this account. But, before I go thru the whole process, what is the likelyhood of being turned down by a powerful bank for a secured card. History: I a good customer due to balance, but I have bounced a few checks. All which have been paid for since I have a preferred account. Any takes? Della
Hi DellaAnn - I think the only reason BA decines on the secured is if you have a BK on your record - or BAD CREDIT with BA. Bounced checks are not an issue - you'll get the card.... aarrfff - dogman
I read on a different board that BOA will approved secured cards for most people unless you've had a BK. Bounced checks I doubt would be an issue. Good luck. I started with a secured card (not from BOA) 6 years ago following my BK and I now have two unsecured accounts (Citi at 5K and Cap One at 6K). Just give yourself some time and you'll be there.
Search this BB for a thread on the Wells Fargo Secured Card. You'll find a posting that lists BofA's approval requirements and guidelines. Basically, as long as you haven't had any charged off credit accounts (or BofA accounts), are not filing for bankrupcy, and have a secured deposit, GO FOR IT!
