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Valued Member
Posts: 29
Registered: ‎09-08-2013
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Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

I'm chipping away at improving my fico and clearing up my baddies.  This year Cap one from $1500 to $5000.  

 

Now time for a second card.  I'd been looking at a couple of options and then yesterday in a B of A branch was told I was pre-approved for a Cash Rewards Card.  I keep a decent balance in two accounts with B of A and have a long banking relationship with them which may help.

 

The branch wasn't sure if it was a soft or hard pull--trying to avoid hard pulls, but perhaps with a pre-approval it's worth it.

 

So two questions:

 

Anyone know if it's a soft or hard pull?  which bureau do they pull?

 

And if it is hard pull, do y'all think it's worth it knowing it's a pre-approval?

 

Many thanks in advance!!


Starting Score: Equifax my FICO 668 Transunion Vantage 717 Experian 657 Plus Score
Current Score: Equifax my FICO 668 Transunion Vantage 648 Experian 667 Plus Score

Switch to Plus Scores Oct 11 13: Equifax 667 Transunion 631 Experian 667
Current CreditReport.com Scores Mar 28 wr 2014: Equifax 693 Transunion 682 Experian 682 Plus Score
Goal Score: 720 by May 1, 2014

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Mega Contributor
Posts: 16,668
Registered: ‎08-08-2011
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

I'm pretty sure it would be a HP. If you only have one CC in my opinion go for it. In the long run it will benefit you more to have two cards reporting. It really depends on your credit file and how old your baddies are and positive TLs reporting if you get approved. Pre-approved isn't always approved you could find out if your file isn't fairly strong.

Senior Contributor
Posts: 10,036
Registered: ‎09-24-2013
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

congrats on your Cap1 increase

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Regular Contributor
Posts: 236
Registered: ‎03-21-2012
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?


chyguy71 wrote:

I'm chipping away at improving my fico and clearing up my baddies.  This year Cap one from $1500 to $5000.  

 

Now time for a second card.  I'd been looking at a couple of options and then yesterday in a B of A branch was told I was pre-approved for a Cash Rewards Card.  I keep a decent balance in two accounts with B of A and have a long banking relationship with them which may help.

 

The branch wasn't sure if it was a soft or hard pull--trying to avoid hard pulls, but perhaps with a pre-approval it's worth it.

 

So two questions:

 

Anyone know if it's a soft or hard pull?  which bureau do they pull?

 

And if it is hard pull, do y'all think it's worth it knowing it's a pre-approval?

 

Many thanks in advance!!


Definitely hard pull. In fact, they pulled 2 for me- TU and EX.   Good customer service though! 

Starting Score 630 Score: Current FICO Scores: All above 725 (04/01/2015)
Sallie Mae World MC 5k; Chase Freedom 6.5k; CareCredit 13.2k; Amex BCP 21.8k;Amex PRG; BOA123 Visa Sig 20k; CapOne WMC 7.5K; CSP Visa Sig 2K; Citi Simp Visa 6.9k; CFCU Visa 17k; Discover IT 5K; JCP MC 8K; Macys Amex 7.5K/2k; PSECU Visa/PSL 20/20K; SamsClub MC 20k; Walmart 10k
Established Member
Posts: 51
Registered: ‎11-19-2013
0

Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

I'm certain it will be a hard pull. I would still definitely go for it. I received a pre-qualified (not even pre-approved) letter from them and got approved for a modest CL. Based on my experience, they base the pre-approval on your spending habits with your debit/checking account, in addition to how long you've had accounts with them for. Like others have mentioned, it's better to have two cards reporting than one. Best of luck to you although I'm sure you'll get approved. Keep us posted! :smileyhappy:
Valued Contributor
Posts: 6,762
Registered: ‎11-18-2013
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

I have had two PLs telling me that for approving me card it will be SP (Amex and Cap One) but it never is a SP for these card approval. I thinks its always a HP for PLs.

EQ Beacon 9.0 Bankcard Enhanced 735 (3/24/15); EX FICO 08 Bankcard 779 (4/8/15); TU FICO 08 Classic 769 (4/12/15). In garden since 10/28/14.

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Valued Contributor
Posts: 1,951
Registered: ‎03-30-2012
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

Soft pull to present the offer

Hard pull when you apply.

 

I just got this card. They pulled EX for me. Am also a Bank of America deposit account customer.

Scores 1/12/2014: TU FICO: 660 | EQ FICO: 665 | EX AMEX FICO: TBD

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | BarclayCard Rewards Average: $2000 | Travelocity Rewards AMEX: $1050 | Discover IT: $2500 | Amazon Rewards Visa: $1500 | Chase Freedom: $1500 | Sportsman's Guide Visa: $3000 | Capital One QuicksilverOne MasterCard: $1600 | Target: $700 | J.Crew $9950
Valued Contributor
Posts: 7,885
Registered: ‎10-21-2012
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

Definitely HP.  TU and/or EX for sure.  If the card benefits are of appeal to you, then go for it.  Good luck.

Established Contributor
Posts: 647
Registered: ‎11-21-2013
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?

I would take the plunge



TU 762
Income $154,000
Car lease 2015 Mazda 3 sTouring
Barclay/EX 722 ($125,000+ total CL) In my wallet (UTI 2%)
Valued Contributor
Posts: 2,019
Registered: ‎06-16-2012
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Re: Bank of America Cash Rewards Card. Hard or Soft Pull?? Worth it with a pre-approval?


Josh2942 wrote:

I would take the plunge


+1

Cards: (Chase x7) (Citi x6) (Amex x5) (BofA x3) (US Bank x4) (Barclays x4) (WF x3) (Cap1 x3) (Synch x3) (Penfed x2) ( Macys Amex) (Discover, Nasa ,Diners x1) PLOC: Citi (18k) WF (10k)
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