Best way to get a BoA 99/500

[valley_man0505]

So, should I just apply for one of their unsecured cards and just hope for a counter offer (assuming a miracle doesn't happen where I actually get approved for the unsecured)?  Or, should I go straight for a standard secured and hope they offer a 99/500?  The way I am looking at it, I am going take a hard inq either way, so I may as well go for the unsecured and hope for a miracle.  Any thoughts or past experiences to share?

[haulingthescoreup]

I don't think that they counter-offer a 99/500 when you app for the fully secured, and they see that you're "too good." (I could easily be wrong, though.)

Have you checked around here to see the typical scores that get a 99/500, and whatever the automatic no's might be? If you feel you meet the requirements, I'd app the unsecured card and hope for a counter.

[valley_man0505]

Yes, I have looked around and I think I should be "too good" for secured, but not good enough for unsecured.  My scores are TU: 581 EX: 625 EQ: 678.  TU is lower due to a bunch of med collections that aren't on the others.  Typically, it has not been my scores holding me back from approvals, however, it is my baddies.  I have a number of unpaid CO's.  The only reason my scores are as high as they are is because all of these CO's are 5+ years old now.   My nose has been clean for the past 3-4 years, however, except for a couple CA's that popped up for old accounts that make them look newer than what they are due to the recent "report dates".

[BP2003]

I applied and received my 99/500 card about 3 weeks ago.  I applied online for the standard BofA Visa Platinum and was rejected and immediately offered the 99/500 card.  Of course, I then accepted the offer, and being that I was a BofA customer (and maintained an online account) they immediately drafted the $99 from my account. 

I applied on a Wednesday and received the card that following Monday.

Anyway, my scores were 594 EQ, 610 TU, 631 EX (and I have 6 collections, but they're all paid in full though)

And my EQ took a 6 pt. hit for the 2 inquiries that BoA is known for.

Message Edited by BP2003 on 09-08-2008 12:45 PM

[Anonymous]

BOA was the first card I applied for in 04/2007. I applied online for the secured card after using the pre approval link. They gave me the $99/500.00. Also the BOA bank rep where I do my business, said just apply for the secured and they will tell if you need to fully secure the card or only pay the $99.00. So, I'd say apply for the secured and see what happens. I was already a BOA customer (checking/savings), so maybe that's why they didn't require me to fully secure the card. 

Message Edited by siangirl34 on 09-08-2008 05:00 PM

[Anonymous]

I was wondering this also. I used the pre-selector site and got the secured option, BUT I'm a newly d/c BK 7 (no BOA included). I recently opened up a checking with them online, haven't really started using the checking they messed up and did not send my siggy card, so I'm still waiting for that. I was d/c 07/08/08 I have CJ reporting and applied for orchard, approved but haven' gotten the card yet, I also hear it takes a few months for them to begin reporting. The next thing I would like to go after is a BOA. Obviously I would have to try for fully secured, or could try to apply for the unsecured, get denied and hopefully get the 99/500 offer. I currently have lots in dispute, cleaning up reports. And for some reason My EX is NOT showing my BK (knocking on wood), that is what they pulled for my checking /debit account How long do you think I should wait to try for a BOA? Should i just go to the fully secured or try the unsecured in hopes of the 99/500.Should i give it 6 months post d/c to apply or does it matter that much, 6 months is not very long out of BK either. Any opinions/experiences.

[TangMeister]

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@Anonymous wrote:

I was wondering this also. I used the pre-selector site and got the secured option, BUT I'm a newly d/c BK 7 (no BOA included). I recently opened up a checking with them online, haven't really started using the checking they messed up and did not send my siggy card, so I'm still waiting for that. I was d/c 07/08/08 I have CJ reporting and applied for orchard, approved but haven' gotten the card yet, I also hear it takes a few months for them to begin reporting. The next thing I would like to go after is a BOA. Obviously I would have to try for fully secured, or could try to apply for the unsecured, get denied and hopefully get the 99/500 offer. I currently have lots in dispute, cleaning up reports. And for some reason My EX is NOT showing my BK (knocking on wood), that is what they pulled for my checking /debit account How long do you think I should wait to try for a BOA? Should i just go to the fully secured or try the unsecured in hopes of the 99/500.Should i give it 6 months post d/c to apply or does it matter that much, 6 months is not very long out of BK either. Any opinions/experiences.

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Well, Mickey, you can try, but BoA is one of those banks that is very bankruptcy unfriendly. Some have gotten in with them on the secured cards with an older bk showing. Seems most get denied purely for a bk being on their record *or* accounts that are showing up as "included in BK" (IIB). From what you said, the BK public record is not on EX, but the IIB accounts are? That's enough to sink you, bud.

They usually pull EX, yes, but they also peek at TU, from time to time in conjunction with the EX pull. Personally, I wouldn't try at this point with BoA, considering your fresh BK. But if you're fearless, hey, go for it. One never knows. Good luck!

[valley_man0505]

Well, my firewall at work kicked me out of the BoA applications, so I was not able to apply for anything yesterday.  Since I was having an app craving, I went ahead and applied for Hooters and was approved (my first unsecured CC approval in over 5 years).  I then got gutsy and applied for a Wal Mart card, and was approved for the store card.  I also have a US Bank secured card for which I have submitted a request to have upgraded to unsecure since my one year anniversary was Sept. 5 (still pending).

Long story short--I think I am done applying now and probably will not get around to testing the BoA waters after all.  However, once I determine for sure who was pulled for Hooters and Wal Mart, maybe I will consider BoA if they pull a CBR that hasn't already been pulled.  I just don't want to end up with a bunch of inqs on one report.

[Hope]

Hello all,

I am also a BofA customer and was curious to the way allof you on this thread are being handled. It seems that even though Bof A  is saying you have been pre-qualified for a card, they send you a rejection for an unsecured card with an automatic acceptancse for the secured card. Is this correct?

I have been a long term preferred customer with them and have decided to look at the pre-approvals they have for me. I did this and found three waiting for my application; the 'rewards express american express', 'master card platinum plus', and the' visa financial rewards'. 

I am wondering if they will pull the same thing with me and instantly offer a signiture card. If they do then should I just take it in order to get accepted, or if I refuse it would it counts a denial and show up on my credit report as aplied but denied.

I have two cards from the same credit union right now because they just gave me a gold card with an increase of CL to 8K. The old card (which had a CL of 3.5k is still active and the history and any balance will be transferred to the new gold shortly. This is why I want to try for another card from a different creditor. Based on this thread I should not plan on an instant acceptance.

What do you think? Experian score of 670

Thanks,

Hope