Jump to content

Sign in to follow this  
nov1070

Getting a pepaid through my bank Bank Of America

Recommended Posts

So it seems things were worse than I thought. A few months ago I opened a Bank of America checking account and was really psyched about it because they also gave me a prepaid credit card account which I immediately deposited $300 into. A couple days later they transferred the 300 back into my checking and sent me a letter saying I didn't even qualify for a prepaid credit card. That's a real kick in the nuts for someone making 75k a year. After a heated conversation with the head of their credit dept. I decided to stick it out with BOM. I paid off some recent debt and I have a few months of direct deposits of $900-1000 per week. My question is will it be worth it for me now to try again for my own banks prepaid card?

Share this post


Link to post
Share on other sites

Do you mean a secured credit card?

 

BOA can be a little tough to break through. Having a checking account doesn't automatically qualify for a card, they still look at what's on your reports and overall credit profile. It sucks that you were initially approved, then denied.

 

I would let about 6 mos. pass and try again.

 

What are your Ficos?

Share this post


Link to post
Share on other sites

No such thing as a prepaid credit card.

 

You mean SECURED Credit Card?

There are such things as prepaid cards, Serve, for example. They are usually referred to as prepaid debit cards.

BOA doesn't have one though, that I'm aware of.

Edited by pjmaxwellian

Share this post


Link to post
Share on other sites

 

No such thing as a prepaid credit card.

 

You mean SECURED Credit Card?

There are such things as prepaid cards, Serve, for example. They are usually referred to as prepaid debit cards.

BOA doesn't have one though, that I'm aware of.

 

 

 

Ya I know about prepaid debit cards, but the OP said prepaid credit card.

Share this post


Link to post
Share on other sites

I actually sent BOA a bit of a nastygram because they advertised their secured product as "Helping to rebuild credit", but will deny you if you have collections on your credit reports, which most rebuilders do.

They are very picky, and at the same time I was approved for a us bank secured and a capital one secured.

Share this post


Link to post
Share on other sites

I actually sent BOA a bit of a nastygram because they advertised their secured product as "Helping to rebuild credit", but will deny you if you have collections on your credit reports, which most rebuilders do.

 

Yours is not an entirely true statement. BOA will extend secured cards to those with collections, late payments, judgements, tax liens etc. Lots of factors such as time elapsed from derogatories, dollar amounts in question, income etc are taken into consideration. X

Share this post


Link to post
Share on other sites

I'm sorry but yes, I meant a secured credit card. I had a long day at work. My Ficos are around 550. I really think my judgement is probably the big problem. I did try Cap1 and they denied me but that was a year ago. It is a hard inquiry now on my report. It has been awhile now, maybe 6 months that I have been with BOM. Like Konrad stated they might help me now I just don't know that they will look at my weekly direct deposits as a factor. I don't mind getting a high interest secured card just as long as they are reporting to the CRA's. There are so many though I'm still looking.

Share this post


Link to post
Share on other sites

BOA is my main bank, took 2 1/2 yrs post BK, to get approval for a card, unsecured, low limit. Scores 670's. About 6 months later I asked for a CLI, a very nice CSR called me and asked a lot of questions, and I knew from her questions, she was looking right at my checking and savings accounts. I would answer and she would say something like 'yes, I see that.'

 

So, on recon, I do think your relationship counts. I also think even for a secured with BOA, you need to get your Ficos up.

 

Have you tried a CU?

Edited by pjmaxwellian

Share this post


Link to post
Share on other sites

I actually sent BOA a bit of a nastygram because they advertised their secured product as "Helping to rebuild credit", but will deny you if you have collections on your credit reports, which most rebuilders do.

They are very picky, and at the same time I was approved for a us bank secured and a capital one secured.

can you post your sample nastygram? TIA.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    1. MB82x
      MB82x
      Age: 38
    2. kforde
      kforde
      Age: 35
    3. tachynurse
      tachynurse
      Age: 37
  • Member Statistics

    • Total Members
      177,976
    • Most Online
      2,046

    Newest Member
    mobaby
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines