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BankAmericard® Secured Credit Card

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4.3 out of 5 stars
19 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 out of 5 stars

4.5 5

Card Details

  • Balance Transfer Intro APR Not Applicable
  • Balance Transfer Regular APR 20.49%* Variable
  • Annual Fee $39
  • Purchase Intro APR Not Applicable
  • Purchase Regular APR 20.49%* Variable

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

Because your payment history is shared with the 3 major credit bureaus, responsible use can help you build credit. 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.

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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.

Dec 02, 2016
Easy card to rebuild with
AARONLSCREDIT Cardholder

I know some people say they can't approved for this secured card. I was the first time and then a couple months later got an email saying to apply again. I did and was approved. Easy to pay with BOFA online/app transfers. Nothing bad to say but I have been a BOFA customer for a few years now.

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Nov 24, 2016
Anonymous Cardholder

Baby steps to a better credit

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Sep 30, 2016
frapadoodle Cardholder

Update, after nine months of paying off bill on time, unsecured. Security deposit returned. Credit limit increased.
As I said, good for rebuilding credit. Don't go wild, and pay it off. It will help.
Approved with credit in the low 600's now mid 600's but improving. It's not all the credit card companies, you have to prove you are credit worthy.

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Aug 31, 2016
Great rebuilding card!
Anonymous Cardholder

I've had this card for one year and they have refunded my deposit so now it's a unsecured card If you have bad credit and are a bank of America customer you should apply for this card!

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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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Jul 08, 2016
Farmtreats3535 Cardholder

I was given the card with $99 secured and 500 limit.  6 months later they refunded the $99 and upped limit to $1500.  Great, right?  2 months later I decided to do a balance transfer.  2 weeks later I received a letter closing my credit card account.  Huh?  Why offer a balance transfer if they didn't like it?  I wouldn't have done it.  They did ask me to at least pay my minimum due but they will not acknowledge future charges.

I think I hurt their feelings  cause I now have Chase and Capital one.  This is my story and wanted to share it.  My payments are 100% on time and no derogatory on my credit report.  Yes, I have new credit this year.  I even own my car and home free and clear.  Honestly, I don't think they like me not being loyal to them. 

Ps - my balance due before the balance transfer was $0

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Jul 03, 2016
Anonymous Cardholder

They approved me with poor credit 300$ deposit and limit which help boost my credit I was able to get vs card and vrylane home my credit is now fair and still building thank you for the chance!

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Oct 07, 2016

What was your credit score when you applied ?

 
Jun 18, 2016
$99/$500 partially secured approved!!!
augustkiwi Cardholder

intially applied for the rewards unsecured boa card but was denied and received a counter offer from BOA in the mail and online that i was preselected for the $99 deposit with $500 credit limit...deposit fully refundable within 12 months. applied 6/16-online said was in review, called 6/17 and was told everything was approved and dep would be taken same day since it was early enough (i applied 6/16 at 1130pm and called 6am on 6/17 LOL) paid the deposit with my checking account and saw it was taken out later that afternoon. today (6/18) logged into my online banking and app and show that my mastercard is added to my view :). same exact process for my wife who applied for the unsecured and received the preselected counteroffer (she has 630s across the board) we are rebuilding our credit so we are excited for this opportunity :)

im 575 TU 588 EQ (on the denial letter said my FICO was 530 & wifes is 598)...

anyways read all the fine print and fees but can set up overdraft protection with my CC and its easy to make payments from my BofA account to the CC. pretty excited to build credit RESPONSIBLY and increase our CS and CL :)

application process-super easy

customer service-no complaints in my book, friendly and helpful

online banking-superb

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1 Reply
Jun 24, 2016

Card mailed 6/21 and just received card today 6/24

 
Jun 07, 2016
Best Establishing Credit Option

Secured for 12 months....approved for $3000....not to shabby really.

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BankAmericard® Secured Credit Card

19 Reviews
Cardholders' Choice i