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You're preselected - BOFA

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Anonymous
Not applicable

You're preselected - BOFA

Hi Guys,

 

I have never received any preselected letter from BOFA until last week, im banking and have 3 credit cards with them, here the details:

 

 

  • 0%† Intro APR for 18 billing cycles on purchases, and any balance transfers made in the first 60 days. After that, a Variable APR that's currently 12.99% to 22.99% will apply. (i got 14.74%)
  • $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10).
  • No annual fee†.
  • No Penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app.
  • $0 Liability Guarantee—our assurance that you are not responsible for fraudulent charges on your account.

Here's my question, is the preselected from BOFA an approval?, i have over 2 years relationship with BOFA (check/Sav) and 3 credit cards (25K, 15K, 2K and a business 4K card that i opened no long ago, i need to do some purchases and 0% will be great.

 

Note: is the MC white credit card from BOFA, never see it before lol.

 

Thanks in advance guys.

 

Message 1 of 13
12 REPLIES 12
AverageJoesCredit
Legendary Contributor

Re: You're preselected - BOFA

I think this is the card taking over the BBR duties . Normally id say preselected is just another fancy word for they want you to apply but if they are giving you a specific apr its probably a good offerSmiley Wink
Message 2 of 13
601flyguy
Established Contributor

Re: You're preselected - BOFA

I think with boa preselected means preapproved. They are also giving a solid apr so it seems you have good odds. I believe it says "we recommend" if you're not preapproved. If you want to make sure, you should receive the same offer in the mail shortly, that was my case. I was approved for $2600, highest limit ever, credit history less than a year but no baddies.
2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 3 of 13
Anonymous
Not applicable

Re: You're preselected - BOFA

Just so you have some extra data points...
I applied for bofa at the tail end of an app spree post house closing. I was declined with a 760-780 fico 8 scores and 240k annual income.

Called to do recon. Denied again. 3 days later I get a prequal offer in the mail. First I've ever gotten from them. Instant approval using the code provided for 8k. Don't ask me to make sense of it lol! But in my limited experience the prequalified mailers are
Good to go!
Message 4 of 13
601flyguy
Established Contributor

Re: You're preselected - BOFA

Maybe there is more to the mailers. boa is the only card i applied for over the phone, and i used an invitation code too.
2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 5 of 13
Anonymous
Not applicable

Re: You're preselected - BOFA

An update guys,

 

Applied last week and wasn't approved or denied, they need more info, well today i got an email from BOFA telling me that my new card is on the way, went to my account online and i got 12K SL, well i guess preselected mail is strong with BOFA.

 

Thanks you guys for all your help.

Message 6 of 13
Anonymous
Not applicable

Re: You're preselected - BOFA

How did you find out your credit limit so quick online?
Message 7 of 13
Anonymous
Not applicable

Re: You're preselected - BOFA


@Anonymous wrote:
How did you find out your credit limit so quick online?

Here how:

 

BOFA-NEW.JPG

Message 8 of 13
Anonymous
Not applicable

Re: You're preselected - BOFA

Were you able to access that due to have accounts with them already? I'm brand new to them.
Message 9 of 13
Anonymous
Not applicable

Re: You're preselected - BOFA


@Anonymous wrote:
Were you able to access that due to have accounts with them already? I'm brand new to them.

I think so but im not sure, i have sav/check plus 3 personal and one business credit card, this is my 4 personal cc with BOFA.

Message 10 of 13
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