BankAmericard® Secured Credit Card

Sorry, this offer is no longer available on Credit Karma.
  • You are applying for a secured card.  For applicants who qualify, more favorable terms and pricing are available through our unsecured products.
  • Looks and works like any other credit card and can be used anywhere MasterCard® credit cards are accepted.
  • Mobile Banking access available almost anywhere, any time.  Helping you stay on top of your finances.*
  • $0 Liability Guarantee, which helps protect you from fraudulent card transactions.*
  • A minimum refundable security deposit of $300 (maximum of $4,900) is required to open this account. Your maximum credit limit will be determined by the amount of the security deposit you provide, your income and your ability to pay the credit line established.
  • After 12 months, your account may be reviewed and, based on your overall credit history, you may qualify to have your security deposit returned while you continue to use your card. Some customers may not qualify after 12 months. 
Annual Fee:
$39
Purchase Intro APR:
N/A
Purchase Regular APR:
20.99%*
Variable
Balance Transfer Intro APR:
N/A
Balance Transfer Regular APR:
20.99%*
Variable

Details, Rates & Fees

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* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

Cash Advance Rate See Terms*
Cash Advance Fee 3%, Min: $10
Late Fee Up to $38
Penalty APR Up to 29.99%
Balance Transfer Fee 3%, Min: $10
Foreign Transaction Fee 3%
Return Payment Fee Up to $27

Cardholders' Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Positive Review
maniacmedia
Not one issue so far.
by maniacmedia
Helpful to 25 out of 26

I applied for the BOA Secured MasterCard in March 2016 and was immediately approved. I liked the $99 deposit and for that got a $500 CL. I've maintained the account using it only for small purchases and paying in full each month. A little over eight months later, I got a letter telling me that the account had been converted to unsecured, my CL doubled, and that the deposit would be returned shortly. It took a couple of weeks, but the $99 check was soon in hand.

Coming up on the anniversary of the card, I didn't want to have to pay the $39 annual fee. In as much as my credit situation has improved (monitor those credit reports, kids) I called to cancel the BOA card. They, of course, sent my call to customer retention. They were very helpful in looking into dropping the annual fee, though it was going to be a week or so for a decision on that. They also converted the card to a rewards card, and shocked me by lowering the interest rate! It's still up there, but under 20% is a nice change of pace right now.

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Negative Review
06robdus
Great Card, Poor CLI and Graduation Rate
by 06robdus
Helpful to 9 out of 10

I applied for and received this BOA Secured card in October of 2014. I had a total starting credit line of $400. I would generally use this card to get gas in my car once or twice a month and would pay the entire balance off before the due date as to not incur interest. I did this religously for 13 months and noticed that BOA did not graduate the card OR offer me a CLI. I called and discussed my concerns with a representative who tried graduating the card but was unable to. I continued to use and pay the card in the same means that I had been. At 24 months, the card still had not graduated and no CLI was given. I stopped into a BOA branch and spoke with the branch manager who connected me to a representative who was able to graduate the card and refund my total security deposit ($600 at that point) but he was unable to offer me a CLI. As you might imagine, I was very confused becuase I have EXCELLENT payment history with not only BOA, but 4 other credit cards I held in the same 24 months. This October, when my 36 month hits with BOA, should they not offer me some sort of CLI, I will be dropping the card entirelly. It is a good card with a strong bank, but its rate of graduation and CLI is a joke to me. I hold two other secured cards now, one with Discover and the other with Capital One; Discover has graduated and given me a strong CLI and I anticipate Capital One to follow suit shortly. One might best invest in the Capital One, Discover, Citi or Wells Fargo secured cards if looking to re-build or even establish credit.


Our Take

The BankAmericard® Secured credit card is a good option if you’re new to credit or trying to build credit.

What to Like

You can build up your credit history by using this card responsibly and over time it could help you improve your credit score. After 12 months, you could qualify to get your security deposit back while you continue to use the card. It also offers a $0 Liability Guarantee if your card is lost or stolen.

Look Out For

While it could help you build credit, the BankAmericard® Secured credit card requires a $300 minimum security deposit to open the account, and there’s a $39 annual fee. This card has a relatively high interest rate, so you could pay a lot in interest if you don’t pay off your balance each month.

Similar Offers

† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from April 2017 through September 2017. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

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