Reply
Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
0

Re: is a bofa card considered a prime card?

   Back when I was paying no attention to my credit, I got a Bank of America credit card. I butchered it but they approved me at the time. I was really late at paying and they kept calling me an reminding me I needed to pay. i was like 180 days late several times. I just didn't care about my credit. Now I am paying for that but I do appreciate that BofA extended me credit then.

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Valued Contributor
dodgerslv
Posts: 1,729
Registered: ‎06-16-2012
0

Re: is a bofa card considered a prime card?

Congrats on all of your approvals! if you cannot remember who you applied with maybe your were not apping but drapping....lol. But in all honestly, great job and i have been impresses by BofA so far. Got a secured card (about to hit the 1 year mark) and unsecured one! I do consider them a prime lender!


Cards: (Citi x6) (Chase x5) (US Bank x3) (Amex x3) (Barclays x3) (BofA x2) (Cap1 x2) (WF x2) (Penfed x1) (Discover x1) (Sync/GE x4) (Macys x2)
Fico 08 scores (6/21/14) EX: 758 TU: 759 EQ: 755 (Utilization at 8% right now).





Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,400
Registered: ‎10-02-2012
0

Re: is a bofa card considered a prime card?

heck to the yes they are prime hahha and yeah they carry VISA ,MasterCard, and AMEX. Congrats on your unexpected approval :smileyhappy:

Closing all of these credit card accounts once paid off for a fresh start.
$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 6 months, Utilization 74%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
0

Re: is a bofa card considered a prime card?


bluedog1 wrote:

BofA is one of the "Big Four" banks along with Chase, Citi, and Wells Fargo. I would consider any of the cards in their main lineup to be prime. Most big banks also offer student cards and new to credit or rebuilder cards. These may target people with lower scores or thin files but keep in mind that they will grow with you over time. This is very different from subprime cards where that rarely or never happens.


 

I don't know where you got the idea the BOA will usually "grow with you over time", Bluedog1, but that's not always the case.

 

I just closed my BOA 123 after having it converted from Gold a year ago.  Had a fee, never secured, wouldn't remove the AF and never gave a CLI (was my lowest CL for years).  I've tried as others have, to get the AF removed but after several attempts over the last couple years, I finally decided I wasn't paying it this year for a card that won't even give a CLI over the course of 5 years.  So they lie in their advertising "1-2-3 cash rewards card, No Annual Fee", wrong.

 

There have been several posts how the BOA isn't the most friendly bank, for CLIs or treatment of their customers.  I tend to tell people to avoid if at all possible.

 

Their products are mostly Prime, not all,  but with a low CL, even with 5 figure CLs they don't treat their customers any better than subprime clients..... (they like corporate accounts)  treat them like Cap 1 and once you move on to bigger and better cards, dump them.  Actually, I prefer Cap 1 over the BOA, and that's a scary thought!  I was planning on closing one of those, BOA earned the axe.

Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
0

Re: is a bofa card considered a prime card?

Bofa gave me my first cc the day i turned 18. No prior credit history before that other than banking with them since i was 16. I was approved for 1k unsecured student plat plus. Now i have 4 cc with them and have never had a problem with them.
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Blogger
HiLine
Posts: 2,851
Registered: ‎10-19-2012
0

Re: is a bofa card considered a prime card?

I challenge anyone who says a non-secured BofA is not a prime card to a duel! :robottongue:

Seriously, if you ask this question about Bank of America, you might as well ask the same question about Chase or American Express.

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
0

Re: is a bofa card considered a prime card?

Bank of America is definitely considered as a prime bank. Some here are arguing that their cards do not grow with you, but neither do Chase cards.

 

Each bank has their own policies and there's really nothing to do about it than to abide by their policies. Some cards do grow if you have the income, usage and the ability to pay on time, though it may cost you a HP. It makes no sense for any bank to increase your CLI just to lower a customer's overall utilization, or for a customer to have a "high enough" limit so he can apply for other visa signature cards or to have his card upgraded to a visa sig.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Regular Contributor
bluedog1
Posts: 120
Registered: ‎03-14-2013
0

Re: is a bofa card considered a prime card?


enharu wrote:

Bank of America is definitely considered as a prime bank. Some here are arguing that their cards do not grow with you, but neither do Chase cards.

 

Each bank has their own policies and there's really nothing to do about it than to abide by their policies. Some cards do grow if you have the income, usage and the ability to pay on time, though it may cost you a HP. It makes no sense for any bank to increase your CLI just to lower a customer's overall utilization, or for a customer to have a "high enough" limit so he can apply for other visa signature cards or to have his card upgraded to a visa sig.

 


+1. This is what I meant by BofA "growing with you." Now with Cap One even if you fit the profile for an increase you won't get one unless you jump through hoops with the EO. Each of us has different experiences with these banks. I'm not impressed with Amex but BofA has always been excellent to me.  

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
0

Re: is a bofa card considered a prime card?

On the sidenote, GE backed cards seems to "grow" the best with a customer. Their CLIs are frequent and generous, if thats what anyone here is looking for.

 

Other banks depends on your payment history and what not. Some banks want to see a valid reason behind a CLI. For example if you have 2k CL card but you spend on average 300 each month.......There's obviously no need for a CLI other than to pad your utilization ratio,

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Regular Contributor
culture
Posts: 196
Registered: ‎02-27-2013
0

Re: is a bofa card considered a prime card?

Been 15 years with BoA...

 

started with a student card  /w $500 

 

 

went up to 8k over they years.. all auto-CLI 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+