topic Re: BankAmericard in Credit Card Approvals

BankAmeriCard Cash Rewards Approved

Anonymous — Sat, 04 Apr 2015 22:32:51 GMT

Hi all, I posted about this in another forum but this forum seems more appropriate. I recently applied for the BankAmeriCard via an offer they sent me in the mail, prior to this I've only had two credit cards (23 year old college student), one student card through my bank (1K CL) and I was an AU on one of my dad's accounts. My credit isn't exactly great and initially the website said they couldn't come to a decision at that time but I called the number on the offer immediately after and the lady pulled up my application and told me I was approved for 15K CL. I was shocked! The last time I checked, I was averaging just above 700 on all three reports. Anyway, she said I would get the card in 7 to 10 days. I haven't received an email confirmation or anything from BoA yet, is this normal? Or will the only form of communication be when I receive the card.

Thanks!

Sorry for the double posts!

BankAmericard

Anonymous — Sat, 04 Apr 2015 17:09:26 GMT

Hi, this is my first post! I recently applied for the BankAmericard on the website provided due to an offer I received in the mail and was told they couldn't come to a decision at that time and that they would send a letter detailing why. I called the number provided on the offer letter and the lady pulled up my account and told me "congratulations you were approved for the card with a 15K limit". I was stunned at first as my credit is not exactly good and because they said they couldn't come to a decision at that time. My question is, how can they go from not being able to provide a decision to approved for 15K limit? Is that considered a high credit limit? It's certainly more than I need (I'm a 23 year old college student). Finally, is the BankAmericard a visa signature? Thanks guys!!

P.S. The only other credit card I've had was a student card through my bank with like a 1K limit (I missed a few payments on that card) and I was an AU on my dad's card for a couple of years (he has almost perfect credit).

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 17:08:00 GMT

@Anonymous wrote:
Hi, this is my first post! I recently applied for the BankAmericard on the website provided due to an offer I received in the mail and was told they couldn't come to a decision at that time and that they would send a letter detailing why. I called the number provided on the offer letter and the lady pulled up my account and told me "congratulations you were approved for the card with a 15K limit". I was stunned at first as my credit is not exactly good and because they said they couldn't come to a decision at that time. My question is, how can they go from not being able to provide a decision to approved for 15K limit? Is that considered a high credit limit? It's certainly more than I need (I'm a 23 year old college student). Finally, is the BankAmericard a visa signature? Thanks guys!!

For the question regarding Visa Signature, what product did you apply for? There is more than one flavor of Bank Americard.

What happened is either the decision was made between your application and your call or (more likely) when you called the underwriter looked at your application and manually approved you for 15K.

15K is a very very good starting limit for a 23 year old college student. Congratulations! Treat BoA well and they will do the same with you

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 17:11:20 GMT

Thanks for the response! It is the BankAmericard Cash Rewards Visa credit card. I wasn't even aware that the person I spoke with was an underwriter, I thought they were just customer service in charge of processing new applications.

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 17:13:39 GMT

It will most likely be a Visa Signature

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 17:16:11 GMT

@Anonymous wrote:
It will most likely be a Visa Signature

Cool! Thanks for your help.

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 17:35:18 GMT

Congrats on your new card and wonderful limit! It will be a Visa Signature. What card did you take? Cash Rewards? Points? And offer was what?

Re: BankAmericard

Creditwiser — Sat, 04 Apr 2015 17:39:33 GMT

Sweet limit Good for you. Take care of it and you'll be golden going forward wwith your financial/credit life. Oh and welcome to the forum !

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 17:59:15 GMT

Congrats on the awesome starting limit!

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 18:02:15 GMT

Congrats! I would also say that is a great starting limit. It currently matches my highest limit and I think I have a pretty decent profile. Just be careful with it. I got myself into some trouble with my first card in college! Good luck!

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 18:59:30 GMT

Thanks for all the replies! I've changed my spending habits to be pretty conservative compared to what I used to do so I think i'll handle this card and the rather high limit well. Under normal circumstances I always pay the balance off in full every month.

@Anonymous wrote:
Congrats on your new card and wonderful limit! It will be a Visa Signature. What card did you take? Cash Rewards? Points? And offer was what?

I signed up for the Cash Rewards card with a $100 bonus offer, 1% cash back every time, 2% cash back at grocery stores, 3% cash back on gas. 0% intro apr for 15 months, after that I have a 12.99% APR and a 3% fee for balance transfers.

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 19:06:24 GMT

@Anonymous wrote:
Thanks for all the replies! I've changed my spending habits to be pretty conservative compared to what I used to do so I think i'll handle this card and the rather high limit well. Under normal circumstances I always pay the balance off in full every month.

@Anonymous wrote:
Congrats on your new card and wonderful limit! It will be a Visa Signature. What card did you take? Cash Rewards? Points? And offer was what?
I signed up for the Cash Rewards card with a $100 bonus offer, 1% cash back every time, 2% cash back at grocery stores, 3% cash back on gas. 0% intro apr for 15 months, after that I have a 12.99% APR and a 3% fee for balance transfers.

That is in fact the public offer available on the BoA website

If you don't already have one consider getting a BoA checking account. They do have a minimum balance to avoid a fee ($1500, waived with DD) but you get 10% bonus when you redeem rewards, making your card a 1.1%/2.2%/3.3% cashback card

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 19:26:46 GMT

@Anonymous wrote:
Thanks for all the replies! I've changed my spending habits to be pretty conservative compared to what I used to do so I think i'll handle this card and the rather high limit well. Under normal circumstances I always pay the balance off in full every month.

@Anonymous wrote:
Congrats on your new card and wonderful limit! It will be a Visa Signature. What card did you take? Cash Rewards? Points? And offer was what?
I signed up for the Cash Rewards card with a $100 bonus offer, 1% cash back every time, 2% cash back at grocery stores, 3% cash back on gas. 0% intro apr for 15 months, after that I have a 12.99% APR and a 3% fee for balance transfers.

Good deal. Way to go!

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 19:30:14 GMT

Open up a savings or college checking account with them and you'll get 1.1, 2.2, and 3.3% on your card. Probably a bonus for opening an account as well.

Re: BankAmericard

B335is — Sat, 04 Apr 2015 20:17:01 GMT

Congrats! Sometimes you have to call in for verification to get the application finalized.

Re: BankAmericard

Anonymous — Sat, 04 Apr 2015 20:48:56 GMT

@Anonymous wrote:
@Anonymous wrote:
Thanks for all the replies! I've changed my spending habits to be pretty conservative compared to what I used to do so I think i'll handle this card and the rather high limit well. Under normal circumstances I always pay the balance off in full every month.

@Anonymous wrote:
Congrats on your new card and wonderful limit! It will be a Visa Signature. What card did you take? Cash Rewards? Points? And offer was what?
I signed up for the Cash Rewards card with a $100 bonus offer, 1% cash back every time, 2% cash back at grocery stores, 3% cash back on gas. 0% intro apr for 15 months, after that I have a 12.99% APR and a 3% fee for balance transfers.
That is in fact the public offer available on the BoA website

If you don't already have one consider getting a BoA checking account. They do have a minimum balance to avoid a fee ($1500, waived with DD) but you get 10% bonus when you redeem rewards, making your card a 1.1%/2.2%/3.3% cashback card

Wow, i'll have to look into that, thanks!

Re: BankAmeriCard Cash Rewards Approved

CreditMagic7 — Sat, 04 Apr 2015 22:40:02 GMT

Your card is on the way!

That SL is beautiful! Mine started at 1K and even now is only 4.5K. Going for 10K sometime next week i hope.

Congratulations!

Re: BankAmeriCard Cash Rewards Approved

Anonymous — Sat, 04 Apr 2015 22:41:15 GMT

Congrats indeed! As above stated you should be happy about such a generous CL! I know I would be

Re: BankAmeriCard Cash Rewards Approved

lg8302ch — Sat, 04 Apr 2015 22:49:37 GMT

Welcome to the forum

Congrats ...what a way to start with BofA Looks like they had to review the limit they would like to approve..lol

I will request to merge the other post with with this one here.

Re: BankAmeriCard Cash Rewards Approved

Anonymous — Sat, 04 Apr 2015 22:52:36 GMT

Congrats