Received Offer - Bank of America Accelerated Cash Rewards AMEX Card

[Thunderseven]

Not sure if this is a good thing or not, but I just received a Bank of America Accelerated Cash Rewards AMEX Card offer for being a "Valued BoA Customer".  I currently have a BoA Platinum Plus which I try to maintain at no more than 15% utl.

I'm not too familiar with the different programs available, so I thought I would come here and ask a few questions first.  Hope you don't mind?

1.  Is this a move up from the Platinum Plus card?

2.  Will this replace my PP card, or be in addition to it?

3.  Does this "Offer" as a "Valued Customer" mean that it has already been pre-approved?

4.  It sounds like a decent card with plenty of bennies.  What do all know about this card?

I appreciate any info you can provide which will help me make a decision.  Thanks!!!

[Creditaddict]

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@Thunderseven wrote:

Not sure if this is a good thing or not, but I just received a Bank of America Accelerated Cash Rewards AMEX Card offer for being a "Valued BoA Customer".  I currently have a BoA Platinum Plus which I try to maintain at no more than 15% utl.

I'm not too familiar with the different programs available, so I thought I would come here and ask a few questions first.  Hope you don't mind?

1.  Is this a move up from the Platinum Plus card?

This would be better than PP

2.  Will this replace my PP card, or be in addition to it?

 This would be an additional card

3.  Does this "Offer" as a "Valued Customer" mean that it has already been pre-approved?

 not sure

4.  It sounds like a decent card with plenty of bennies.  What do all know about this card?

 this was a very popular card when it came out a couple years ago.

I appreciate any info you can provide which will help me make a decision.  Thanks!!!

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[Anonymous]

I think if you check the details it should say if they "pre-approved" you.  Look for something like "Based on information we obtained from your credit report" or similar writing it usually means pre-approval because they softed your CR.  I also look for words like "invite" which usually doesn't mean pre-approval.  Other probably know more than me though.

[JMN]

If it is an official pre-qual/pre-approval, it will have a "prescreened opt-out notice" at the bottom, which is required by Federal law. They're required with official pre-approvals.

[haulingthescoreup]

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@Thunderseven wrote:

Not sure if this is a good thing or not, but I just received a Bank of America Accelerated Cash Rewards AMEX Card offer for being a "Valued BoA Customer".  I currently have a BoA Platinum Plus which I try to maintain at no more than 15% utl...

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I do have slightly more faith in these things when they come from a bank that I already do business with. I'd like to think that they come from more than a generic soft casting of their nets upon the waters, and that they are at least somewhat based upon your presumably good history with them.

[Thunderseven]

I'm thinking that it may be worth calling just to verify.  Since I opted out of everything a few years ago and have not opted back in yet, this offer must be based off of my credit history with them.  It doesn't hurt to ask and I still have plenty of time left on the offer to make a decision and apply.

Thank you everyone for your input.  I'll let you know what I find out.