All about BankAmericard® Secured credit card

The BankAmericard Secured Credit Card may be an excellent option for boosting or rebuilding your credit. It has no annual fees or account starting fees, so it's a decent option if you can make the $300 minimum opening deposit. However, as your credit score improves, the hefty APR and lack of incentives or other perks make this card difficult to keep long term. If you already associated with Bank of America and need to develop or rebuild your credit, the BankAmericard® Secured Credit Card could be an excellent alternative. The biggest advantage of utilising this card is that it allows you to keep all of your financial transactions in one place, which is useful for many people.

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• There are no application or activation fees.
• $300–$4,900 credit line
• Your maximum credit line is determined by your personal ability to pay, which is based on your income and security deposit.
• The three major credit bureaus receive important account information, which helps you develop your credit history.
• You may be eligible to get your security deposit reimbursed after 12 months if you continue to use your card.
• TransUnion provides free access to your FICO® Score, which is updated regularly.
• Credit education on issues such as responsible credit card use, budgeting, and more is available.
• There is no annual charge.

Advantages:

Because this is a secured credit card, you must make a refundable security deposit that will serve as your credit line. Your security deposit with this card must be at least $300. Bank of America, on the other hand, will evaluate your credit history on a regular basis. If your credit has improved and you've made all of your payments on time, Bank of America may elect to refund your security deposit, giving you your money back while continuing to enable you to use the card. This perk is not available on all secured cards.

Disadvantages:

• APR is high. The BankAmericard Secured card, like many other secured credit cards, has a higher-than-average APR; on purchases, you'll pay 22.99 percent APR. While that is a standard rate for a secured card, you can discover cards with far lower rates. The difference in rates might have a significant influence on your total interest payments unless you pay your debt in full every month.
• Minimum Deposit is Expensive. The BankAmericard Secured card requires a $300 deposit. That deposit is higher than some other cards', which may be difficult for some applicants.
• There is no incentive programme. You won't earn points or cash back with the BankAmericard Secured card because it doesn't have a rewards programme. While this is typical of a secured card, there are a few outliers that provide perks. The Discover it secured card, like the BankAmericard Secured card, has no annual charge.

Having Problem with BankAmericard® Secured credit card?

The customer service phone numbers and addresses for the First Progress Platinum Select MasterCard Secured Credit Card are listed below. Credit Card customer service call center, phone number: 1-800-732-9209.

• Credit card customer service
  (including lost or stolen card)
• 800.732.9194,
  Write them at,
  Bank of America-PO Box 53132, Phoenix, AZ 85027-3132

Still having trouble! No problem, Cancel the Card!

Cancellation is an easy task, Call 800-732-9194 to cancel a Bank of America credit card and provide your account number, Social Security number, or telephone access ID when required. Then select the option to talk with a customer care person and inform them of your want to close your account.