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Valued Member
chyguy71
Posts: 29
Registered: ‎09-08-2013
0

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
coldnmn
Posts: 13,964
Registered: ‎08-08-2011
0

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.

My Wallet /US Bank Cash+ Signature $10,000/ Ace US Bank Signature $10,000 / Sam's Mastercard $8000
/ Walmart Mastercard $8000 / Discover IT $5000 / Care Credit $5000
/ Husqvarna $5000 / PayPal SmartConnect $4800 / Cap1 Quicksilver $4000 / Barclay Ring $3550
Last App 8/12/14 /

Senior Contributor
alvon123
Posts: 7,532
Registered: ‎09-24-2013
0

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

congrats on your Cap1 increase


Regular Contributor
tld409
Posts: 220
Registered: ‎03-21-2012
0

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 Current:EX:706(09/01/14); EQ08: 747(10/10/14);TU:748 (10/13/14):Goal Score: 750 across the board
Sallie Mae World MC 5k; Chase Freedom 3.5k; CareCredit 13.2k; Amex BCP 10.3K; Amex BCE 12K; Amex PRG; BOA123 Visa Sig 20k; CapOne WMC 7.5K; CSP Visa Sig 5K; Slate Visa 3k; Citi Simp Visa 6.9k; CFCU Visa 15k; Discover IT 4K; JCP MC 8K; Macys Amex 7.5K/2k; PSECU Visa/PSL 20/20K; SamsClub MC 20k; Walmart 10k;
Established Member
aqualife
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:
Contributor
uswala
Posts: 457
Registered: ‎11-18-2013
0

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.

Credit Unioin Mastercard - $4000 (Feb 12); Chase Freedom - $ 2000 (Oct 12); Barclays Reward Mastercard: $3000 (Jun 13); Discover It - $5250 (Jul 13); BOA Cash Rewards Visa Signature - $5000 (Sep 13); Costco TrueEarnings - $15800 (Oct 13); US Bank Cash Reward - $1000 (May 14); Fidelity Rewards American Express - $5000 (Sep 14); Citi Double Cash World Mastercard - $15000 (Oct 14)

Authorized User:- Capital One Quiksilver - $6000 (Jan 13); Citi Dividend Visa Signature - $6000 (Jul 13); Blue Cash Everyday - $16100 (Aug 13); Discover It - $5750 (Nov 13); Sallie Mae World Mastercard - $6000 (Feb 14); Chase AARP - $4500 (Oct 14).

Valued Contributor
injustifiiable
Posts: 1,865
Registered: ‎03-30-2012
0

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 6/17/2014: TU FICO: 643 | EQ FICO: 675 | EX AMEX FICO: 666

In my new wallet: American Express Premier Rewards Gold EMV: NPSL | BankAmericard Cash Rewards Visa EMV: $2500 | BarclayCard Rewards Average: $2000 | Travelocity Rewards AMEX: $1050 | Discover IT: $1500 | Amazon Rewards Visa: $1500 | Sportsman's Guide Visa: $3000 | Capital One QuicksilverOne MasterCard: $1250 | Target: $400 | J.Crew $5950
Valued Contributor
FinStar
Posts: 5,907
Registered: ‎10-21-2012
0

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
Josh2942
Posts: 570
Registered: ‎11-21-2013
0

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

I would take the plunge

TU 748 Barclay/EX 720 ($71,000+ total CL) In my wallet (UTI 1%)
In my Wallet
AmEx Green for Business NPSL-Chase Freedom Visa Signature $5,000-Chase Hyatt Visa Signature $5,000-Chase Sapphire Preferred $7,000-Barclay Arrival World MC $10,300-Lowe's Card $20,000
Auto-Mazda Capital Lease $20,000/
Valued Contributor
dodgerslv
Posts: 1,777
Registered: ‎06-16-2012
0

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: (Citi x6) (Chase x5) (US Bank x3) (Amex x3) (Barclays x3) (BofA x3) (Cap1 x2) (WF x2) (Penfed x1) (Discover x1) (Sync/GE x4) (Macys x2)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).






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