Bank of america credit card? i want to get a dune of america secured credit card because

i want to get a dune of america secured credit card because my credit score is 550,but thats not my slate.my thing is they want 300.00 surrounded by a deposit but on the application it say's you can deposit 300.00 to 10.000 in increments of 100.00 but when i tried to complete the application the looked-for 300 up front.what does that mean? i'm afraid i won't seize approve and don't want to send this caring of money when i ain't gonna get approved.did anybody apply for this card and grasp approved?

The lower your credit score the complex the interest rate. Which in turn make it easier for you to get deeper within debt and have more problems. Spend a year or two cleaning up your finances and paying your bills on the dot.

Don't apply for it, my dad just get rid of his card because of the high interest rates and they be undermining him. He is a lawyer and make really good money and they be squeezing him out of every little dollar they could. He got feed up and cancelled the card.

Answers: I've had 2 of them. This is what happen.

The $300 is a security deposit, after you get the card. How a secured card works is this: You enjoy to deposit a certain amount of money upfront to win the same amount contained by a line of credit.

Make small purchases that can be remunerated off surrounded by full on time every month.

After a year or so of ideal payment history, you'll return with the deposit back near some interest.

Don't do it. If you carry a giant balance and don't retribution it off promptly they will increase the interest rate until they hit the ceiling. When I was laid-off, I have to pay some bills using my BofA card and minus regard to my situation, even after contacting them for arrangements, they raise the rate to over 30%. Stay away.

Your question can singular be answered by B of A. I would go to different ridge if I were you...Citibank and Wells Fargo tender the same point.