topic Re: Premium Rewards Visa Signature Approval at $55K SL in Credit Card Approvals

Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sun, 13 Mar 2022 01:54:26 GMT

APPROVED!

Decided to Apply for this via my Bank of America Banker a few days ago to pay my taxes via credit card. It seemed like a smart thing to do since merchant processing fees online are 1.87% and rewards are 2.62% with preferred rewards at BofA (75% rewards bonus), luckily I was approved! The limit is under the total tax payment but I think it should be able to pay the card off a few times mid-month before it posts to my credit. Has anyone encountered problems doing that? When I did that on my American Express it gave me a financial review which took a ton of time but ultimately they didn't change anything about my account with them. Also, I was able to nab a unicorn signup bonus see below!

Also, she expedited the card so I received an email via UPS MyChoice that I have a package incoming later today or tomorrow. SO she must have added one-day shipping which is a huge plus. I guess I can reverse my tax extension now lol.

For those interested, it looks like they pulled trans union, which is my worst score at 657 which recently fell due to my mortgage being reported. The representative I work with stressed that this is just a starting limit and that she would be able to review the account after I made the tax payments and successfully paid them off for a credit limit increase. Which is the first time I've heard someone have that much power over the credit line situation. I just recently became a wealth management banking client of Bank of America but have been a credit card and student checking account owner since my junior year of high school in about 2017.

Let me know if anyone wants more stats or has questions. Best!

Re: Premium Rewards Visa Signature Approval at $55K SL

gdale6 — Sat, 12 Mar 2022 17:44:40 GMT

Sweet SL, grats on your new PR BoA card!!!!!

Re: Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sat, 12 Mar 2022 17:57:01 GMT

@gdale6 wrote:
Sweet SL, grats on your new PR BoA card!!!!!

Thank you!

Re: Premium Rewards Visa Signature Approval at $55K SL

CreditAggie — Sat, 12 Mar 2022 18:15:16 GMT

Congratulations on your BofA Premium Rewards approval! This is a goal card of mine and I hope to have it in a few years when I am out of college and my career takes off.

Re: Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sat, 12 Mar 2022 18:20:28 GMT

@CreditAggie wrote:
Congratulations on your BofA Premium Rewards approval! This is a goal card of mine and I hope to have it in a few years when I am out of college and my career takes off.

I wish you good luck in achieving your goal!

Re: Premium Rewards Visa Signature Approval at $55K SL

ccquest — Sat, 12 Mar 2022 18:52:29 GMT

Absolutely massive approval there, congrats!

Also sure they're really working with you and trying to keep you happy if you're paying just taxes in amounts higher than $55k, sounds crazy to me.

Did they take away anything from your Cash Rewards card? I believe I've read around here before that BoA has a cap at $99.9k, but it looks like you've broken that and are around $105k right now.

Re: Premium Rewards Visa Signature Approval at $55K SL

Elpadrino1 — Sat, 12 Mar 2022 18:53:08 GMT

Congratulations on a nice BofA approval!!

Re: Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sat, 12 Mar 2022 19:09:25 GMT

@ccquest wrote:
Absolutely massive approval there, congrats!

Also sure they're really working with you and trying to keep you happy if you're paying just taxes in amounts higher than $55k, sounds crazy to me.

Did they take away anything from your Cash Rewards card? I believe I've read around here before that BoA has a cap at $99.9k, but it looks like you've broken that and are around $105k right now.

Fortunately they didn't take anything away. Had to check to make sure, so looks like the hard limit isn't a limit but a guideline.

Re: Premium Rewards Visa Signature Approval at $55K SL

coreyb80 — Sat, 12 Mar 2022 19:26:33 GMT

Congrats on the strong approval!

Re: Premium Rewards Visa Signature Approval at $55K SL

CreditAggie — Sat, 12 Mar 2022 19:39:27 GMT

@californiaboy935 wrote:
@ccquest wrote:
Absolutely massive approval there, congrats!

Also sure they're really working with you and trying to keep you happy if you're paying just taxes in amounts higher than $55k, sounds crazy to me.

Did they take away anything from your Cash Rewards card? I believe I've read around here before that BoA has a cap at $99.9k, but it looks like you've broken that and are around $105k right now.
Fortunately they didn't take anything away. Had to check to make sure, so looks like the hard limit isn't a limit but a guideline.

There are a few other community members here that have greater than $99.9K total exposure with BofA. While not common, it is possible.

Re: Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sat, 12 Mar 2022 19:44:27 GMT

@CreditAggie wrote:
@californiaboy935 wrote:
@ccquest wrote:
Absolutely massive approval there, congrats!

Also sure they're really working with you and trying to keep you happy if you're paying just taxes in amounts higher than $55k, sounds crazy to me.

Did they take away anything from your Cash Rewards card? I believe I've read around here before that BoA has a cap at $99.9k, but it looks like you've broken that and are around $105k right now.
Fortunately they didn't take anything away. Had to check to make sure, so looks like the hard limit isn't a limit but a guideline.
There are a few other community members here that have greater than $99.9K total exposure with BofA. While not common, it is possible.

I think it's probably because I have a larger banking relationship with them and recently became a Diamond level preferred rewards member. Due to my Merrill Lynch investment accounts and advisor relationship. From reading others' comments on the 99.9K limit it's more of a guideline than a rule @CreditAggie .

Re: Premium Rewards Visa Signature Approval at $55K SL

Hoben02 — Sat, 12 Mar 2022 19:54:58 GMT

Congrats on the card I use it sparingly these days since I made my custom cash card as my default trave choice for the 5.25%, but every time I have a transaction that might code as travel I use this card since the base reward is 2.625%

Re: Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sat, 12 Mar 2022 20:53:39 GMT

@Hoben02 wrote:
Congrats on the card I use it sparingly these days since I made my custom cash card as my default trave choice for the 5.25%, but every time I have a transaction that might code as travel I use this card since the base reward is 2.625%

How long does it take rewards to post? Did you have a welcome offer? If so, what was it?

Re: Premium Rewards Visa Signature Approval at $55K SL

firefox100 — Sat, 12 Mar 2022 21:53:22 GMT

Congratulations on your great credit approval with BOFA enjoy it.

Re: Premium Rewards Visa Signature Approval at $55K SL

Eyepinpools — Sun, 13 Mar 2022 01:57:32 GMT

Congratulations man. You are extremely successful, especially for your age if you graduated HS in 2018. Do you mind sharing what you do for work? All good if not l. And again, congrats man.

Re: Premium Rewards Visa Signature Approval at $55K SL

Hoben02 — Sun, 13 Mar 2022 02:27:44 GMT

@californiaboy935 wrote:
@Hoben02 wrote:
Congrats on the card I use it sparingly these days since I made my custom cash card as my default trave choice for the 5.25%, but every time I have a transaction that might code as travel I use this card since the base reward is 2.625%
How long does it take rewards to post? Did you have a welcome offer? If so, what was it?

>> usually takes a few days for the transaction to clear/post and then you can take a look to see if the right bonus is given. In my case I got the standard 50k points after meeting the bonus spend. By the way sometimes I pay the la county property tax with this card

Re: Premium Rewards Visa Signature Approval at $55K SL

californiaboy935 — Sun, 13 Mar 2022 02:29:23 GMT

@Eyepinpools wrote:
Congratulations man. You are extremely successful, especially for your age if you graduated HS in 2018. Do you mind sharing what you do for work? All good if not l. And again, congrats man.

@Eyepinpools I actually co-own a educational technology company as well as a manufacturing company I acquired. So I'm a bit of a serial entrepreneur. But on my free time I invest in divedend earning ETF's and ETN's for growth. Thanks for asking.

Re: Premium Rewards Visa Signature Approval at $55K SL

MasonK — Sun, 13 Mar 2022 04:15:23 GMT

Excellent SL! Congrats on the approval!

Re: Premium Rewards Visa Signature Approval at $55K SL

cashorcharge — Sun, 13 Mar 2022 19:05:58 GMT

That's terrific!! Congratulations on your BofA Approval!! 🎉🥂👏

Nice thing is...CLI's are SP and you should be able to ask in few months and to your other question....paying off the accout or making multiple payments mid-month has never been an issue in what I've seen...

Re: Premium Rewards Visa Signature Approval at $55K SL

LP007 — Sun, 13 Mar 2022 19:11:31 GMT

Baaaaallllliiiiiiinnnnnggggggg!!!!!!!!