Credit Card Deals

Question: So, how does this secured credit card deal work?

(Posted by: on 2009-12-24 01:30:43)

So far I& #039;ve learned you gotta put a deposit down, what I haven& #039;t figured out is how do they base your deposit? Where do I go to get one? I bank with bank of america. I just want a little something to improve my score.

Posted by: bdancer222 on 2009-12-24, 09:24:07

The deposit is equal to your credit limit. If you pay a $200 deposit, you get a $200 credit limit. Best to start small, but if you paid $1000, you 'd get a $1000 limit. Since you have a history with BOA, try there first. When you get the card, use it for small purchases and pay in full every month. In about a year, you should be able to convert the secured card to a regular account.

Posted by: Cash on 2009-12-24, 10:56:44

Good that you have already business with bank of America. In my case they asked me to put down $100 for credit limit $500. So if you have good standing account they will give you good limit. So approach BOA branch and ask for secured credit card. it 's worth reading the article below: cashorcredit24.com/ how-to-build-credit-score-if-you-dont-have-credit