topic Re: BOA credit cards in Credit Card Applications

BOA credit cards

CerebralZulu — Thu, 09 Sep 2021 13:35:05 GMT

Greetings all. I have been getting a lot of the BOA mailers for CCs. My question is do they prefer a banking relationship? And what provides better results, responding to the mailers or in branch?

Re: BOA credit cards

Hoben02 — Thu, 09 Sep 2021 14:50:39 GMT

No you don't have to have a previous banking relationship, but the bank does offer better reward levels based on level of biz you do with them. I'm platinum honors so I'm looking at a 5.25% return on category purchases with their customized cash rewards card

Re: BOA credit cards

FinStar — Thu, 09 Sep 2021 19:11:35 GMT

@CerebralZulu wrote:
Greetings all. I have been getting a lot of the BOA mailers for CCs. My question is do they prefer a banking relationship? And what provides better results, responding to the mailers or in branch?

It is not necessary to have one, certainly lots of folks have been approved without a prior BOA relationship, but we certainly won't know how your overall profile will stack with their algorithms. That said, whether you accept the offer online, via phone, or through a banker wil make no difference on the outcome. If your profile supports the card and BoA likes your profile, then it can result in an approval. Just keep in mind that the mailers are not pre-approved offers, just pre-selected invitations to apply.

Re: BOA credit cards

CerebralZulu — Fri, 10 Sep 2021 11:45:50 GMT

@FinStar wrote:
@CerebralZulu wrote:
Greetings all. I have been getting a lot of the BOA mailers for CCs. My question is do they prefer a banking relationship? And what provides better results, responding to the mailers or in branch?
It is not necessary to have one, certainly lots of folks have been approved without a prior BOA relationship, but we certainly won't know how your overall profile will stack with their algorithms. That said, whether you accept the offer online, via phone, or through a banker wil make no difference on the outcome. If your profile supports the card and BoA likes your profile, then it can result in an approval. Just keep in mind that the mailers are not pre-approved offers, just pre-selected invitations to apply.

Random question you may be able to answer. I have a Chase pre appoved offer sitting, should I go for it or the BOA mailer first? I know Chase can be finiky, is BOA also?

Re: BOA credit cards

coldfusion — Fri, 10 Sep 2021 12:05:48 GMT

Chase card first. If you applied for the BoA card first the additional inquiry would impact the reliability of the Chase preapproval.

The reverse would also be true but normally a Chase preapproval would be considered a more reliable predictor of a followon approval than a BoA invitation to apply.