Reply
Frequent Contributor
Razeus
Posts: 395
Registered: ‎04-02-2012
0

Re: Bank of America

Are they inquiry friendly?

My Wallet:
Discover It $14,300 | Chase Sapphire Preferred $7,500 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
Frequent Contributor
AvaMommy
Posts: 297
Registered: ‎08-08-2012
0

Re: Bank of America

@altayar What did you start out with and PC to?

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Regular Contributor
altayar
Posts: 248
Registered: ‎08-19-2010
0

Re: Bank of America

I started with a student card, then switched to the 1-2-3 cash rewards one.


AvaMommy wrote:

@altayar What did you start out with and PC to?


 

Frequent Contributor
OptimasPrime
Posts: 348
Registered: ‎08-17-2012
0

Re: Bank of America


AvaMommy wrote:

BTW, which product is the best that Bof A offers?


I don't think bofa has a best product persay, at least not in the sense of an Amex or chase type lender where there is a fairly clear hierarchy to their products. Both their travel rewards cards and 123 cards are pretty decent in terms of rewards structure.

 

Also note that bofa signature cards (issued for 5k plus cls) do not report credit limits to the bureaus, which I could envision being a bit annoying if it is one of your higher limits

 

 

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Frequent Contributor
AvaMommy
Posts: 297
Registered: ‎08-08-2012
0

Re: Bank of America

@Optimas I thought boa was a prme card? What are considered prime cards? I have 2 PP americards with boa...1 visa 3K and mastercard 2.5...but would like to PC in 6months to a 123 or any rewards card. Scores are too mediocre to app for AMEX and Chase 9even though my mortgage is with chase). The only other cards I have is my orchard 320 9will close once I get a better prime card 9wont affect my AAoA since I recently opened it like 7 months ago. Will keep oen for a yr. and 2 other cards I am a AU...Jareds and Sears

 

8/8/2012   starting FAKOs   EX  565   EQ 550  TU 602

9/13/2012 Current FAKOs   EX 633    EQ 633  TU 674

FICOs    EQ 637   TU 633

 

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Frequent Contributor
OptimasPrime
Posts: 348
Registered: ‎08-17-2012
0

Re: Bank of America

Prime is a very subjective term, for which there is no generally accepted definition. I think bofa is prime personally, but I think that amex, Chase, Discover, and even citi generally offer better credit products and customer service than bofa does, and are thus more prime. Just my .02 as many others might disagree.

 

As far as pc'ing to a different bofa product, others have been able to do so with relative ease. BofA has even been adding 123 rewards to their secured cards lately. I don't see any real reason you would need to wait to pc, as you are probably eligible now. Try calling one of the backdoor numbers in the sticky as that will put you through directly to a credit analyst (who has more decision making authority than a frontline csr)

 

As far as closing accounts, I wouldn't worry about it too much as they will continue to report for 10 years. Just make sure that your utilization stays low in spite of closing them and you will be fine.

 

Hope this helps.

 

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Moderator
Revelate
Posts: 9,640
Registered: ‎12-30-2011
0

Re: Bank of America

I think the 13 months rule is a result of the CARD act (which I'm admittedly not that familiar with as I've not been in that situation) where you can't change from a $0 AF card to one with an AF in under that time frame... or perhaps change AF in that time.  I'm certain someone more knowledgeable will clarify it, but that's typically where the inability to PC for a specific timeframe comes from for most lenders.   Occasionally you'll get one that wants you to establish a history, but BOFA isn't fully one of those and you've got that already in spades from the sounds of it.

 

Likewise I don't see the point in waiting if the rewards work better for you, it appears to be a good time to be asking BOFA for things if you're one of their customers honestly.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge
Established Contributor
lithium78
Posts: 930
Registered: ‎07-30-2011
0

Re: Bank of America

I PCed from a flat 1% card to the 123 card after six months.  It was easy.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Frequent Contributor
AvaMommy
Posts: 297
Registered: ‎08-08-2012
0

Re: Bank of America

[ Edited ]

I went into a BofA branch to buy savings bonds but found they financials institutions do not sell them anymore. However, I do not bank with them and inquired how long do I need to wait to PC my card. They told me seconds...sat down and the bank rep called and VOILA 1-2-3 cashrewards! Literally seconds....thanks everyone...

Starting Score: FAKO: TU 602 EQ 550 EX 565 - 08|2012
Current Score: MyFICO: TU 633 EQ 637 EX 669 (AMEX PULL)09|2012
Goal Score: 700 across the board In my wallet: NFCU cashRewards 12000CL, NFCU LOC 10K CL, BofA cashRewards 5000CL, BofA PP 3000CL, JAREDS (AU) 1500CL, SEARS (AU) 7000CL
Under my mattress: Orchard Bank 320CL and Saks Fifth Avenue 100CL. Finally in the Garden. App Free Since 9/18/12 - No apps until March 2013
Super Contributor
CS800
Posts: 6,552
Registered: ‎04-07-2008
0

Re: Bank of America


AvaMommy wrote:

I went into a BofA branch to buy savings bonds but found they financials institutions do not sell them anymore. However, I do not bank with them and inquired how long do I need to wait to PC my card. They told me seconds...sat down and the bank rep called and VOILA 1-2-3 cashrewards! Literally seconds....thanks everyone...


Great news!!

 

How long did you have the card?





myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}