cancel
Showing results for 
Search instead for 
Did you mean: 

bank of america approval credit score

Frequent Contributor

bank of america approval credit score

my dad just received a boa cash rewards visa signature. he was only approved for $5000 but he has 4 other credit cards with 9k+ limits with boa and his credit score at the time with equifax at the time was 819. i was wow thats crazy. he is retired with very little income at the moment so i was surprised he was approved for anything at all. does anyone know which scoring model they use?

amazon
Message 1 of 10
9 REPLIES
Established Contributor

Re: bank of america approval credit score

Congrats to dad!  I received the same card in July with an initial line of 12,500, and they pulled hard on TU, and softed my EX report.  Usually they pull either one of those, though i've seen approvals where they pulled EQ as well.  It varies anymore depending on geographical location of the applicant.

Current Score: EQ: 828, EX: 833, TU: 820 Citi TY Premier WEMC 46.5, (Since 1983)Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| Cap One QS WMC 15K|Chase Freedom VS 19.3k|Citi Dividend WEMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2|BBVA Amex 22.5k|Total Rewards VS 12.5k|SGV 10K|Venture 12k|BOA Virgin Atlantic WEMC 11.2K|MB Amex 9.5k
Message 2 of 10
Frequent Contributor

Re: bank of america approval credit score

yeah he told me to guess his credit score and i said 800 and he said higher and i was like wow **bleep**? and he only got it just to get $150 bonus cashback after spending $500 in 3 months.

amazon
Message 3 of 10
Frequent Contributor

Re: bank of america approval credit score

now thats working the system. Watch, I bet he sees a nice CLI in the very near future.

BOA is a little cautious at first but once you build they are very rewarding.

 

How do I know this? I called in this evening to ask a question about my new BOA card coming (same as your dads) and the rep

transferred me to a credit analyst. I was only looking for apr info and I think the rep thought I was asking for a lower apr

already thus the transfer. Anyways this very nice lady came on and after I explained that I just wanted to know the terms

she said "let me put you on hold while I review your account"

 

two minutes later she came back and asked me about a loan I had with them back in 1998 of all things.... She had asked that

why there was one 30 day late on the loan (14k unsecured) and I explained it was the early days of electronic bill pay and something

got screwed up. I was thinking they were now going to decline me. Well much to my shock she said I have re-reviewed your account

and we are going to set your initial CL at.....................$12.5k. Originally approved at 7500

 

BOA....you got my business for life

Message 4 of 10
Frequent Contributor

Re: bank of america approval credit score

my dad has been with boa since barnetts bank in the 80's. he had his mortgage through them that he paid off 10 years early also, cd's, savings with 10k+ in each. he tells me he doesnt like to go to the bank because they always tell him to apply for a new credit card with them. he sends me to do all his deposits for him Smiley Very Happy it seems like they love him too. he doesnt care about getting any increases with any credit card because he doesnt spend much money anymore since he is retired and has limited income. his delta skymiles he's had since 01 has a $16k limit and his discover has a $10k limit and he's had that card since 1987. he only applies to take advantage of cashback bonuses

amazon
Message 5 of 10
Frequent Contributor

Re: bank of america approval credit score

Bank of America has been good to me. I started with them as one of my three first student cards (Citi, Bank of America, and Chase), all on the day I turned 18.

 

That measly $1,500 card has grown to become a $30,000 B of A Rewards AmEx juggernaut over the last 3.8 years. Smiley Happy

 

They were very stingy at first. $1,500 for the first year. Then I requested an increase. Back then, you could just leave the CLI request field blank. Two days later? Bam. $5,000 limit. In 2010 I put in another blank CLI request. Bam, $12,500. Earlier this year I put in a request (this was with the new form, requiring the limit request) for $20,000. Approved. 

 

They bumped me to $30,000 a week or two ago, automatically. I think, at the first of the year, I'll see about bumping up further.

 

But yeah, Bank of America, once they get to know you, treat you quite well. And this is coming from someone who works for a major competitor of Bank of America! LOL!

Despite my employment in the banking industry, any and all views contained in this post are purely my own, and do not represent any financial institution, nor constitute as financial or investment guidance or advise.
Message 6 of 10
New Contributor

Re: bank of america approval credit score

I was just approved for a AAA Signature Visa with a 5k limit through BOA with around a a 570.  They pulled my Experian in WI.  I was hesitant because it was BoA, but I figured if I got it, it was with a prime lender, and with the exception of AMEX and Discover, I didn't have a prime card.

Amex Gold, Capital One VentureOne & Platium Cards, AAA BoA Signature Visa, Barclays Airtran & Frontier Airlines Cards, Paypal MC, Best Buy RewardZone Mastercard and Chase Speedway Mastercard....and I FINALLY Welcome to Discover...thank you and have a great day!!!!
EX: 667 (8/6 Amex App) - EQ 700 - TU 697
Message 7 of 10
Established Member

Re: bank of america approval credit score

So for people who have gotten the card recently, what was your intro APR offer? I had signed up in July and it had said a 2.99% APR for transfers and I'm almost positive it said 0% apr for new purchases for the first 12 months. Now after getting the card it's saying only the 2.99% for 12 months for the transfers. I never would have gotten the card if it wasn't for the 0% APR for 12 months part.. Unfortunately the offer was from an email promo and all of the terms and interest rate info were on a webpage linked to from within the email offer, so I don't have proof one way or the other.
Message 8 of 10
Established Member

Re: bank of america approval credit score

Sorry, meant to say the AAA Signature Visa card.
Message 9 of 10
Valued Contributor

Re: bank of america approval credit score

I believe for EQ they use FICO Beacon 9 BankCard Industry.

 

About 21% score 800+ and 5.8% score 840+ with that score.

 

If you have excellent BankCard experience it allows a good increase over Beacon 9, which allows better scores than Beacon 5.0.

Message 10 of 10