topic Re: Snagged the BOA Premium Rewards! in Credit Card Approvals

Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 02:45:48 GMT

Today I took the plunge and applied for the BOA PR card. The night before, I was perusing my boa accounts online and saw that I had a special offer for the PR card, with the 50,000 pt SUB. I’m somewhat new to credit, so wasn’t completely confident in my chances and had read that PR can be hit or miss in terms of approvals. I did it by phone as I was out grabbing some food.

Took about 10 mins. Most of it was listening to prerecorded T&Cs. Instant approval for $21,000. They pulled EX. I currently have a BOA CR at $25,100. Total exposure $46.1k. My plan is to apply for the AMEX PLAT in next couple days, which for me will complete my CC arsenal. I don’t see a need for any others in my lifetime, unless someone could convince me otherwise. My other cards are DISC IT and AMEX rose gold.

Here are my stats in case this helps anyone:

BOA customer over 20 years

PR PH client x 3 years

Started a ME account in Feb this yr. Before that I was moving money back and forth to maintain PH status

CR card 2 years old in March, was my first cc ever, disc and Amex came about 6 months after

No inquiries in 12 months, 2/24

FICO 744 EX 751 TU

1 60 day late that is 6 years old, student loan

Re: Snagged the BOA Premium Rewards!

AllZero — Thu, 02 Apr 2020 02:47:16 GMT

Congratulations on your approval!

Re: Snagged the BOA Premium Rewards!

nuohlac — Thu, 02 Apr 2020 02:57:25 GMT

Congrats!!!

Re: Snagged the BOA Premium Rewards!

Meanmchine — Thu, 02 Apr 2020 04:01:08 GMT

Congrats !

Re: Snagged the BOA Premium Rewards!

M_Smart007 — Thu, 02 Apr 2020 05:27:44 GMT

Welcome To myFICO Forums and

Re: Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 09:39:34 GMT

Congrats!

Re: Snagged the BOA Premium Rewards!

newfossil — Thu, 02 Apr 2020 12:17:26 GMT

Congratulations!

Re: Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 13:21:11 GMT

Congratulations on your approval! 👍

Re: Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 13:46:36 GMT

@Anonymous wrote:
... Here are my stats in case this helps anyone ...

Wow. Great stats. Great approval. Now go nab a SP CLI to 99,900 on your Cash rewards.

Re: Snagged the BOA Premium Rewards!

Mv350 — Thu, 02 Apr 2020 13:54:17 GMT

Congratulations on your approval!!!!

Re: Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 14:19:56 GMT

Thanks everyone!! I’ve learned so much reading the forums on my relatively short journey so far.

So, my advice for getting this card, based on my experience:

1. Establish a relationship with BOA:

-open a checking acct, keep it open for 1 or 2 years

-get one of their other cards first, like CR or TR. Use it for 1 year (thick file) or 2 years (thin file like mine). Build up your limits over time with SP CLIs.

2. Be a preferred rewards client. Have min 20k in assets there. Get to platinum honors for best results. Helps to open a Merril Edge investment account to keep larger assets.

3. Be patient. I knew 2 years ago that I wanted PR, but knew I would be shot down since I basically had no credit history and my relationship with BOA wasn’t strong compared to now. Wait for your account to list PR in “special offers & deals”. Don’t want to call it a pre-approval, but it’s pretty close I believe.

Hope this helps!

Re: Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 14:23:30 GMT

Congratulations on your approval!

Re: Snagged the BOA Premium Rewards!

gdale6 — Thu, 02 Apr 2020 14:31:44 GMT

Great grab and welcome to MyFico

Re: Snagged the BOA Premium Rewards!

Anonymous — Thu, 02 Apr 2020 14:54:58 GMT

@Anonymous wrote:
@Anonymous wrote:
... Here are my stats in case this helps anyone ...
Wow. Great stats. Great approval. Now go nab a SP CLI to 99,900 on your Cash rewards.

U betcha!! Waiting a month to let dust settle. Will ask for double to get to 50k. Wish me luck!

Re: Snagged the BOA Premium Rewards!

MyFault — Thu, 02 Apr 2020 15:40:46 GMT

Congrats!

Re: Snagged the BOA Premium Rewards!

Cred4All — Thu, 02 Apr 2020 19:41:22 GMT

Awesome approval, congrats on the approval and thanks for the data points.

Re: Snagged the BOA Premium Rewards!

CreditobsessedinFL — Thu, 02 Apr 2020 19:59:23 GMT

Congratulations and thanks for the fantastic DPs.

Re: Snagged the BOA Premium Rewards!

Aim_High — Fri, 03 Apr 2020 01:27:39 GMT

Congrats on your approval of a great card!

That one is in my sights as well. I'm over 20-year BofA customer. I've been building relationship slowly just as you describe before I apply for Premium Rewards to increase my chances. (Until October, I hadn't had banking accounts with them in many years but my existing credit card is old.) Your experience reinforces community data points that indicate that it's very much a relationship card.

Welcome to My Fico forums!

Re: Snagged the BOA Premium Rewards!

coreyb80 — Fri, 03 Apr 2020 12:55:21 GMT

Congrats on the approval!

Re: Snagged the BOA Premium Rewards!

19eighty5 — Fri, 03 Apr 2020 15:18:58 GMT

Congratulations on your approval!