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Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: Scared to apply



Nmbr1ballr wrote:
Well I'm kind of a really picky person I don't know why but I really wanted a BoA or AMEX card. Thanks for your help though. I do appreciate all imput. Anyone else care to give me their opinion?




Both BOA and Amex are pretty generous with the initial CLs and CLIs. Before I had any prime cards at all, Amex approved me for $8900.

I ended up financing a new car through BOA. They called a couple days later and said my inquiry was also good what turned out to be a $20,000 CL in a month or so.
Here we go again...
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
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Re: Scared to apply

So I just went to BoA website and clicked the pre-approval button. It came up with 3 cards, one of them being the American Express card I was talking about. Do you think with my EQ score and my EX score SHOULD be around that as I have no lates or anything, I will get the 9.99% or 15.99% apr. And as you said, I don't plan on carrying a balance anyway but you never know what might come up where you may need to.
Score Watch: EQ 767 (6/30/09)
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Scared to apply



Nmbr1ballr wrote:
So I just went to BoA website and clicked the pre-approval button. It came up with 3 cards, one of them being the American Express card I was talking about. Do you think with my EQ score and my EX score SHOULD be around that as I have no lates or anything, I will get the 9.99% or 15.99% apr. And as you said, I don't plan on carrying a balance anyway but you never know what might come up where you may need to.

Yep, it's not that difficult to qualify for the 9.99% rate on that card.  That's the rate I got, and my EX was around 730-ish when I applied.
 
Good luck, and let us know what you decide.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Scared to apply



cheddar wrote:







Nmbr1ballr wrote:
So I just went to BoA website and clicked the pre-approval button. It came up with 3 cards, one of them being the American Express card I was talking about. Do you think with my EQ score and my EX score SHOULD be around that as I have no lates or anything, I will get the 9.99% or 15.99% apr. And as you said, I don't plan on carrying a balance anyway but you never know what might come up where you may need to.




Yep, it's not that difficult to qualify for the 9.99% rate on that card. That's the rate I got, and my EX was around 730-ish when I applied.


Good luck, and let us know what you decide.







I qualified for the preferred rate on the World Points MC with a 680-ish EX.
Here we go again...
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
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Re: Scared to apply

Awww, so I bit the bullet and hit the accept button. It then took me to another page where I had to fill out income, housing etc. I was worried that after filling that out that I might not receive the credit line the pre-approval said I would. I continued, sent the application. Next thing it says is

"Thank you for submitting a credit card application.

Your business is appreciated and careful consideration is being given to your request, but an instant decision cannot be provided at this time.

You will receive a written response within the next 30 days."

Now I'm worried. How can I be pre-approved but at the same time not get an immediate response?
Score Watch: EQ 767 (6/30/09)
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
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Re: Scared to apply

When I go to the get a credit card section of MyFICO, you know how it says what cards fall under what category of FICO score. The card I applied for is under excellent with a score of 740+ which is lower than my score. Now I'm going to be paranoid for the next 30 days.
Score Watch: EQ 767 (6/30/09)
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Scared to apply



Nmbr1ballr wrote:
Awww, so I bit the bullet and hit the accept button. It then took me to another page where I had to fill out income, housing etc. I was worried that after filling that out that I might not receive the credit line the pre-approval said I would. I continued, sent the application. Next thing it says is

"Thank you for submitting a credit card application.

Your business is appreciated and careful consideration is being given to your request, but an instant decision cannot be provided at this time.

You will receive a written response within the next 30 days."

Now I'm worried. How can I be pre-approved but at the same time not get an immediate response?

This is a standard response for BofA.  Call a credit analyst this afternoon, and you'll likely get an instant decision after speeaking to them.  You can find the number in the Backdoor Numbers thread stickied at the top of the forum.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
0

Re: Scared to apply



cheddar wrote:


Nmbr1ballr wrote:
Awww, so I bit the bullet and hit the accept button. It then took me to another page where I had to fill out income, housing etc. I was worried that after filling that out that I might not receive the credit line the pre-approval said I would. I continued, sent the application. Next thing it says is

"Thank you for submitting a credit card application.

Your business is appreciated and careful consideration is being given to your request, but an instant decision cannot be provided at this time.

You will receive a written response within the next 30 days."

Now I'm worried. How can I be pre-approved but at the same time not get an immediate response?

This is a standard response for BofA. Call a credit analyst this afternoon, and you'll likely get an instant decision after speeaking to them. You can find the number in the Backdoor Numbers thread stickied at the top of the forum.



I called the number and spoke to a woman who approved me. The card will be received in the mail in 5-7 days. So I'm happy I was approved, the only thing is the credit line wasn't as high as in the pre-approval page. It said I would be approved for $7,500 but was approved for $5,000 after calling in. Overall I am happy, waiting to see how this affects my score in the short term as well as to increase my limit on both cards in the long term. Thanks to everyone who posted here to give me confidence lol.
Score Watch: EQ 767 (6/30/09)
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Scared to apply

Congratulations!  I'm glad it worked out for you in the end.
 
BofA is very generous with CLI, btw.  I would wait about 3 months and then call a credit analyst again and ask for the $7500 you were preapproved for.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
0

Re: Scared to apply

Awesome, thanks. I forgot to ask what APR I was going to be receiving so I guess I'll have to wait and see.
Score Watch: EQ 767 (6/30/09)
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