Bank of America Secured Credit Card Review
If you want to rebuild your credit, or establish it for the first time, you probably already found out about secured credit cards. Well, what you're going to find out is that there are a lot of them out there. If you have the Bank of America card in your mind, you're going to be assured that you're dealing with a card from a major, legit bank. The cool thing about this card is that it is fairly easy to get if you already have a Bank of America checking and/or savings account.
Credit Check
With most major banks, you're going to find that they are going to check your credit. The same is going to go with Bank of America. What you're going to find out with a secured card is that as long as you meet their guidelines, there's a good chance that you're going to be approved with the card itself.
Credit Limit
The credit limit on this particular card is rather large compared to most cards on the market. You're going to find that the credit limit is going to vary anywhere from $300 to as much as $10,000. This limit can change, so be sure to do your homework and read the cardholder's agreement to ensure that you know what your card is going to charge.
Credit Reporting
This card is going to help you with your credit. It will help you re-establish as well as rebuild it. As long as you use your card responsibly, you will find that your credit score can go up rather quickly.
Annual Fee
Most secured cards are going to have an annual fee, and what you're going to find out is that this one is going to be no different. The annual fee on this card is average compared to most. It's not too high nor is it too small. Refer to your agreement to ensure that you know your fees.
Other features that are going to be included with this card are some features such as a higher credit limit, state of the art 24/7 customer service, as well as the opportunity to graduate to an unsecured card in the near future.
