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

Valued Member

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 (2010 Scores were all approx 600!)
Current myfico 8 FICO Scores August 15 wr 2015: Equifax 746 Transunion 748 Experian 708
Goal Score: 760 by June 30, 2016

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11 REPLIES
Mega Contributor

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.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Senior Contributor

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

congrats on your Cap1 increase


Regular Contributor

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 9k; 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 7K; JCP MC 8K; Macys Amex 7.5K/2k; PSECU Visa/PSL 20/20K; SamsClub MC 20k; Walmart 10k
Valued Member

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! Smiley Happy
Senior Contributor

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 - 768 (12/29/15); EX FICO 08 - 764 (01/09/16); EX FICO Bankcard Score 8 - 779 (01/09/16); TU FICO 08 Classic - 759 (01/28/16). Total CL - $245,300 (Individual - $141,250 + AU - $104,050)

IU:
AU:
Valued Contributor

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 5/15/2016 (clean reports!): TU Walmart FICO: 696 | EQ FICO: 679 | EX AMEX FICO: 680

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | Citi AAdvantage Platinum Select World MasterCard: $6400 | Barclaycard Arrival World MasterCard: $1000 | Discover IT: $2500 | Amazon Rewards Visa Signature: $1500 | Chase Freedom: $1500 | Capital One QuicksilverOne MasterCard: $2100 | Target: $2800 | J.Crew $21,550 | Marvel (Captain America) MasterCard: $6000
Senior Contributor

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

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 $300,000
Car lease 2015 Mazda 3 sTouring
Barclay/EX 755 ($214,000+ total CL) In my wallet (UTI >1%)
Valued Contributor

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

gardening since 5/21/2016