topic Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process in Credit Card Approvals

BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

seattlecredit08 — Mon, 22 Apr 2019 03:29:44 GMT

Previously:

I have had BB&T Bright card for about 6 Months
SL given at the time was $10,500
BB&T pulled Equifax (double pull). EQ FICO score was about 770 at the time with about 3 new accounts opened in the 6 months prior

Last week:

Followed soft pull pre-approval link that others discovered on this forum to see if I am approved for any other cards.
- Pre-approval came back with 3 cards (Don't remember APR given but around 15-18%).
2 days later, after reading on this forum that the actual approval may also be a Soft Pull (SP), followed a pre-approval link again
- Interestingly, no pre-approvals this time. Was kind of surprised. This is the "slightly unusual" part of the process.
Then, a day later, received email "Accept Your Offer Today" from BB&T
- Clicked the link, filled out the application and instant approval came back with:

BB&T Spectrum Cash Rewards Credit Card
Credit Limit: $10,500.00
Annual Percentage Rate (APR) : 17.49%

Data Points:
- EQ FICO 8: Around 770
- Pull: Soft Pull (followed pre-approval link)
- Inquiries: Just under < 10 total
- New Accounts: Around 3 in the last 6 months

Possible conclusions:

From what I can tell, BB&T pre-approval is new, I don't think this feature existed even a couple of months ago
Seems like there are some quirks in the BB&T pre-approval process (e.g. if one attempts pre-approval multiple times during a short period of time)
Seems like BB&T's algorithm for determining SLs is tier based, based perhaps on score and income brackets.
- From what I can tell their have tiers may be something like this based on EQ FICO 8 (this not exact by any means and other parameters will obviously be a factor):
  - 780-850: $15,000 and possibly more (?) SL
  - 750-780: Around $10,000 SL
  - 720-750: Around $6,000-7000 SL
  - 700-720: Around $4,000 SL
  - ???: $2000 SL
  - The above is not proven but based on personal experience and few data points seen on this board.
- Seems like they are not inquiry or new account sensitive, at least to some extent.
- Finally, they are geo-based so not everyone will qualify as I understand it.

Thanks again!!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Anonymous — Mon, 22 Apr 2019 03:14:24 GMT

Congrats on your new BB&T Spectrum Cash Rewards card!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

AverageJoesCredit — Mon, 22 Apr 2019 03:22:52 GMT

Congrats 1 more takes the flavor challenge. C'mon myFico, lets show Best Bath & Target we mean business

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Anonymous — Mon, 22 Apr 2019 03:26:04 GMT

@seattlecredit08 wrote:
Previously:
I have had BB&T Bright card for about 6 Months
SL given at the time was $10,500
BB&T pulled Equifax (double pull). EQ FICO score was about 770 at the time with about 3 new accounts opened in the 6 months prior
Last week:
Followed soft pull pre-approval link that others discovered on this forum to see if I am approved for any other cards.
Pre-approval came back with 3 cards (Don't remember APR given but around 15-18%).
2 days later, after reading on this forum that the actual approval may also be a Soft Pull (SP), followed a pre-approval link again
Interestingly, no pre-approvals this time. Was kind of surprised. This is the "slightly unusual" part of the process.
Then, a day later, received email "Accept Your Offer Today" from BB&T
Clicked the link, filled out the application and instant approval came back with:
BB&T Spectrum Cash Rewards Credit Card
Credit Limit: $10,500.00
Annual Percentage Rate (APR) : 17.49%

Data Points:
EQ FICO 8: Around 770
Pull: Soft Pull (followed pre-approval link)
Inquiries: Just under < 10 total
New Accounts: Around 3 in the last 6 months
Possible conclusions:
From what I can tell, BB&T pre-approval is new, I don't think it existed even a couple of months ago
Seems like there are some quirks in the BB&T pre-approval process (e.g. if one tries it over during a short period of time)
Seems like BB&T's algorithm for determining SLs is tier based, based perhaps on score and income brackets.
From what I can tell their have tiers may be something like this based on EQ FICO 8 (this not exact by any means and other parameters will obviously be a factor):
780-850: $15,000+ SL
750-780: $10,500 SL
720-750: $6,500 SL
700-720: $4,500 SL
???: $2000 SL
The above is not proven but based on oersonal experience and few data points seen on this board
Seems like they are not inquiry or new account sensitive, at least to some extent.
Finally, they are geo-based so not everyone will qualify as I understand it.
Thanks again!!
I actually read reviews on the card (seems CS is awful) but wanted to see if a SP was indeed legit. My state is not listed so I was not able to see what could have been.

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Jnbmom — Mon, 22 Apr 2019 03:37:56 GMT

For future reference are these preapproval links for any type account holder or do you have to do some banking with them? As I just have a CC with them now and no banking relationship.

Just wondering where do you find the preapproval offers ??

Awesome DPs

Thanks

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

credit_is_crack — Mon, 22 Apr 2019 03:56:00 GMT

Congrats on the Solid Aproval @seattlecredit08!

Another traveler aboard the BB&T Express! and Fantastic data points! I think of all the recent approvals you're only the 2nd person to break the $10k barrier -- TURBO APPROVAL!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

credit_is_crack — Mon, 22 Apr 2019 04:06:07 GMT

@Jnbmom wrote:
For future reference are these preapproval links for any type account holder or do you have to do some banking with them? As I just have a CC with them now and no banking relationship.

Just wondering where do you find the preapproval offers ??

Awesome DPs

Thanks

@Jnbmom, I stumbled on the prequal site on my phone a few days ago and after posting about it @RicHowe tracked down the desktop version and shared it. Looks like a generic prequal site. Most of us who used it have no relationship with them so it was just out there for anyone https://www.bbt.com/offers/checkOffers

Even when I go to the site on my laptop I still can't find it - I have no idea how @RicHowe tracked it down

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Anonymous — Mon, 22 Apr 2019 04:22:42 GMT

Congrats on your approval and very nice SL !!!!
BB&T Choo cho choo

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Jnbmom — Mon, 22 Apr 2019 04:44:57 GMT

@credit_is_crack wrote:
@Jnbmom wrote:
For future reference are these preapproval links for any type account holder or do you have to do some banking with them? As I just have a CC with them now and no banking relationship.

Just wondering where do you find the preapproval offers ??

Awesome DPs

Thanks
@Jnbmom, I stumbled on the prequal site on my phone a few days ago and after posting about it @RicHowe tracked down the desktop version and shared it. Looks like a generic prequal site. Most of us who used it have no relationship with them so it was just out there for anyone https://www.bbt.com/offers/checkOffers

Even when I go to the site on my laptop I still can't find it - I have no idea how @RicHowe tracked it down

Thanks you

Darn wish I saw this prior we might have been spared the Hps, oh well still happy with approvals.

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Marz2002 — Mon, 22 Apr 2019 07:41:22 GMT

YOU...

CONGRATS @seattlecredit08 on your Approval and Thanks for your thorough Analysis of the current BB&T CC marketing program!

Good Job!!!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Anonymous — Mon, 22 Apr 2019 10:36:50 GMT

@seattlecredit08

Super Congrats on your BB&T $10,500 Spectrum Cash Rewards approval!

Quick question, please: I seem to recall reading on previous posts here in the forum

that BB&T pulls Equifax FICO 9 for their cc approvals. Yet, you cited EQ8 in your approval.

Did BB&T specifically inform you that they pulled your EQ8 in your SP approval notice?

It would be very helpful to know this data point for those of us planning to apply.

Congrats again on your success. Thanks so much for sharing!

P.S. For those of you who might be interested in future Suntrust credit card approvals,

Suntrust hard pulls Equifax Bankcard 8. If you decide to open a checking/savings acct,

they will soft pull the same report. I included this info b/c Suntrust and BB&T are merging.

I recently visited my Suntrust bank right down the street, so I'm relaying to everyone what

I was told in the branch.

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

CreditCuriosity — Mon, 22 Apr 2019 12:57:08 GMT

Congrats OP, but your score theory is certainly off as my eq is 770-790 range and pulled a 6500 limit and 6 figure income. Although their certainly seems to be tiers of SLs.. What determines this we don't have enough information IMO. DTI, AAoA,, income, etc?

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

pinkandgrey — Mon, 22 Apr 2019 13:33:37 GMT

Congrats on a very trendy card at the moment lol. Great SL and nice APR!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Anonymous — Mon, 22 Apr 2019 14:40:45 GMT

Congrats! Great SL!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

Anonymous — Mon, 22 Apr 2019 17:11:42 GMT

Congratulations!! Very nice SL!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

MartyWrite75 — Mon, 22 Apr 2019 18:11:33 GMT

Wow! Congratulations on your approval!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

mikesonthemend — Tue, 23 Apr 2019 00:47:30 GMT

Bam!

Thanks for the info!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

seattlecredit08 — Tue, 23 Apr 2019 01:15:08 GMT

@Anonymous wrote:
@seattlecredit08

Super Congrats on your BB&T $10,500 Spectrum Cash Rewards approval!

Quick question, please: I seem to recall reading on previous posts here in the forum
that BB&T pulls Equifax FICO 9 for their cc approvals. Yet, you cited EQ8 in your approval.
Did BB&T specifically inform you that they pulled your EQ8 in your SP approval notice?
It would be very helpful to know this data point for those of us planning to apply.

Congrats again on your success. Thanks so much for sharing!

P.S. For those of you who might be interested in future Suntrust credit card approvals,
Suntrust hard pulls Equifax Bankcard 8. If you decide to open a checking/savings acct,
they will soft pull the same report. I included this info b/c Suntrust and BB&T are merging.
I recently visited my Suntrust bank right down the street, so I'm relaying to everyone what
I was told in the branch.

Excellent question. I am not sure if BB&T uses FICO 8 or FICO 9 model.

I will know in a bit once they mail the official approval letter. I usually track my FICO 8. I will update.

Thanks!!

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

SFLSpotter9210 — Tue, 23 Apr 2019 02:22:58 GMT

Congratulations on your SP approval and awesome SL. Just some DP for your theories my Fico 8 score at time of pull was 695 with a 4,500 CL. And that’s a myFICO score.

Re: BB&T Spectrum Cash Rewards Approval - Data Points/Slightly Unusual Process

AllZero — Tue, 23 Apr 2019 05:40:58 GMT

Congratulations! Thank you for sharing the data points.