BankAmericard® Secured Credit Card Reviews

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4.0 out of 5 stars
21 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

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Most Helpful Positive Review

Apr 18, 2016
THIS CARD WORKS!!
ModernLove Cardholder

Received this card about a year ago after providing a $300 deposit.It was a tiny credit limit. I was disappointed and hardly ever used it. But after 9 months of on-time payment history I applied and was approved for the following cards, all within 2 months: CapOne - 2K, Citi - 1K, Chase - 3500, AmEx Everday - 3K, AmEx BlueCash - 5K. And last week Bank of America  'unsecured' this card, returned my $300 deposit, and raised my credit limit. This card works!

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Most Helpful Negative Review

Aug 11, 2016
NEW TO CREDIT
SHESPY14 Cardholder

I APPLIED (NO CREDIT HISTORY, 18 YEARS OLD) IN JANUARY FOR THE SECURED, I PUT 1K DOWN. FOR THE PAST 6MONTHS I DID MY BEST PAYING THE BALANCE IN FULL AND SOMETIMES MAXED IT OUT AND USED AGAIN BUT PAID BALNCE BEFORE THEY REPORTED IT TO THE CREDIT BUREAU. I SPOKE TO THE ANALYST AN BOFA AND THEY WERE IMPRESSED :) AFTER MY 6 MONTH STATEMENT POSTED I CALLED REQUESTED TO SEE IF THEY WOULD CONSIDER GRADUATING ME FROM THE SECURED TO UNSECURED AND THEY GLADLY DID IT AND ALSO GAVE ME AN INCREASE WHICH NOT MY LIMIT IS $1400 AND I AM GETTING MY SECURITY DEPOSIT BACK. THE ONLY NEGATIVE THING I DID NOT LIKE WAS BACK IN MAY WHEN MY CARD WAS CHARGED FOR $200 ON PRICELINE FRAUDULANTLY THEY REVERSED THE CHARGES BACK ON THE CARD WITHOUT PROPERLY INVESTIGATING. THEY SHOULD HAVE ASKED FOR DL FOR A SO-CALLED RENTAL THAT WAS NEVER RENTED.  I ALSO HAVE BEEN DOING RESEARCH WITH OTHER BANKS AND CARDS WITH MY MOM AND THE NEXT STEP IS TO GET A CREDIT CARD WITH NAVY FEDERAL THEY ARE GENEROUS WITH THERE LIMITS, EVEN IF YOU ARE REBUILDING. CAP ONE QUICKSILVER IS ALSO A GOOD COMPANY WHICH I HAVE THERE CARD. BUILDING UP WITH MOMS GUIDANCE :) 

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These reviews were written by current and former cardholders in the last year.

Apr 23, 2017
Anonymous Cardholder

Great card to build credit!

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Apr 12, 2017
Anonymous Cardholder

I had this card and a Capital One when I was going thru credit rebuilding 2 years ago. Capital one returned by deposit, gave me a CLI and issued me a 2nd rewards card in less than a year. Bank of America did not. I've been a customer with them since 2006 And not so much as a $25 CLI. I tried to dispute returning my security deposit OR giving me a $100 increased and got denied TWICE. I closed it bcuz if wasn't worth having. I felt like they were keeping me under their thumb for my past credit history. I will be changing banks as well. 

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Apr 08, 2017
good card
j3james Cardholder

i open this card with CL $400 after 9 months i call the CS and was approuved for $2.400

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Apr 07, 2017
Best Card so far. Good app, happy
BradfordCC Cardholder

Bank of Americas app and payment process is by far the best out of the 3 cards I have. 

needed secured cards due to a poor business venture. Rebuilding credit takes time. So far their support and people have been great. 

Online app. Bill pay and Credit monitoring showing your your real FICO score which is 150 points lower then karma.   Not sure why but happy so far. Will report back in 60 days. 

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Mar 19, 2017
Just say thank you
50Orange Cardholder

I haven't received my card yet I just wanted to say thanks to BOA for giving me the opportunity to fix what I destroyed over 30 years ago. I appreciate the feedback from many of the reviews but often shake my head at some of them. I find it absolutely amazing someone would apply for a card that clearly states it has a $39 annual fee and then complain and try to negotiate the fee down, not receiving their deposit back when they think it should be returned or complain because their credit limit was not raised. I'm amazed these individuals don't remember they were a credit risk and the bank took a risk and gave them the opportunity to improve. Don't get me wrong I'm not one of those blinded individuals would believe big business is good business. Banks for the most part are the devil (BOA not excluded). People always amaze me wanting something for nothing. Here is some unwanted unsolicited probably unappreciated advice use the card do what you're supposed to do and then you will have choices. You're ridiculous expectation entitled demands on a company who took a chance on you should be thanked. Rest assure BOA I will happily pay my $39 annual fee and just say thank you.

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Mar 19, 2017

Words well spoken! You took the words right out of my mouth. Let's all read the fine print and actually understand it before applying.

 
Mar 03, 2017
Not one issue so far.
maniacmedia Cardholder

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.

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Apr 26, 2017

Bank of America issues Visa cards: Capital One and Citibank issue Mastercards

 
Apr 26, 2017

Oops! I'm sorry I see they do issue MasterCards. My apologies

 
Mar 02, 2017
Really love this card!
Anonymous Cardholder

Love this card. I had really bad credit and applied and put down $300 security Deposit!  Despite the high interest rate after paying on time and sometimes just the minimum payment, my credit score became very good and now after just a year the card is unsecured at $2000 limit. 

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Feb 26, 2017
Great Card, Poor CLI and Graduation Rate
06robdus Cardholder

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.

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Dec 22, 2016
Easy approval for BoA bankers
Anonymous Cardholder

I spent about 10yrs destroying my credit. But I kept my bank account in good standings for the past few years. A long time BoA costumer, I got a letter in the mail extending a $500 line for a $99 deposit. I applied and was approved on the first try (my score was right around 590-600). After about 7mo of good standing, I called and requested a limit increase. They graduated my card to unsecured, refunded my deposit and increased line to $1600. If you are already a BoA customer and are looking to rebuild your credit, this is definitely a good option.

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BankAmericard® Secured Credit Card

21 Reviews
Cardholders' Choice i