Boa Secured Credit Card

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Bank of America is one of the biggest banks with many financial services and branches. Moreover, there are various credit cards to fulfill what customer and client needs. Regular credit card is common thing to have because it is useful to pay anything from daily purchase and bill. Besides, BoA Secured Credit Card is alternative if you cannot get the regular one.

People still find difficulty to differ between secured and unsecured credit card. In this filed, unsecured is common since there is no collateral. As an effect, the loan has to pay alongside interest with high rate. For first timer, the bank needs to assess financial ability before approving credit card application. To reduce the risk at minimum level, BoA Secured Credit Card is offered for clients with zero or bad credit score.

BoA Secured Credit Card as the Best Option

FICO score is important to establish the loan and further financial situation. You can get this score based on your debt history, annual payment, and everything related to debt payment. BoA Secured Credit Card has primary goal to establish, rebuild, and strengthen the credit. Therefore, it keeps the score in check.

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Establishing is suitable for first timers. Moreover, rebuilding is what you need when the credit score is at bad level due to default or bankruptcy. Meanwhile, strengthen is what you do to keep the score at good level. They are the basic things as reasons for choosing BoA Secured Credit Card.

This type of credit card has the main difference, which is security deposit. You should pay the amount of money before receiving card as security deposit. The account is separated from bank saving and the amount of money limits your credit. BoA offers minimum deposit from $300 to $4,900. You need to choose deposit of BoA Secured Credit Card based on your financial situation. The bank will evaluate your ability to pay and determine how much the credit limit. Sometimes, you pay more and the bank will send check to return as saving.

Benefits and Features on BoA Secured Credit Card

Credit cards, both unsecured and secured, have several features and benefits. You can pay the bill via digital wallet to prevent carrying cash around on your pocket. This feature is also integrated into other digital payments using smartphone. You can pay the BoA bill from mobile or online banking. The app is available for majority platform on mobile devices, such as Android and iPhone.

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BoA Secured Credit Card also receives security technology to protect you from fraud and identity theft. Bank of America will identify if unusual activity and transaction happens on your account. In addition, security feature is useful for online transaction, and another one is overdraft protection.

To access and manage BoA credit score, the card owner should install mobile app or accessing online website. The bank helps to give real time score including payment record. It is useful thing to do because the main goal to have BoA Secured Credit Card is excellent credit score at all. FICO score is updated free without paying anything and it is ready monthly. Those are features when you choose secured credit card from BoA.