topic Re: Bank of America prequalification with specfic APR and bonus? in Credit Card Applications

Bank of America prequalification with specfic APR and bonus?

Anonymous — Tue, 12 May 2015 23:07:46 GMT

I have read many posts in these forums about how inaccurate the Bank of America pre-qualification website issues. I know they just did a bunch of work on their website and an unsure if anything new is up with

Today I went website issues. I know they just did a bunch of work on their website and an unsure if anything new is up with to the site and since I already had an account my information with prefilled and it came back with four card recommendations.

The first one (main offer?) was for the cash rewards card that would give me $150 cash after spending $500 within 90 days, 19.99% APR (not a range!) and no AF.

The second card card was for the Travel rewards card that would give me 15,000 points ($150 statement credit if you selected) after spending $500 within 90 days, 20.99% APR and no AF.

The third one (the one I'd want the most) was for the Better Balance Rewards card that would give me no cash bonus offer, 18.99% APR (not a range!) and no AF.

The fiourth and last one was for the BankAmerica Visa card that would give me no cash bonus spending $500, 17.99% APR (not a range!), 15 months of 0% interest on purchases, and no AF.

All the cards came with 0% APR for 12 months except where noted on the last card. Near the bottom of the page it says that the offers are good until 6/9/15. I don't see anything about opt out or preapproved so I'm unsure.

I opened a different browser and entered DW info and it came back with recommendations but the APR's were ranged (12-21%) and her opening bonuses were lower.

So do you think this is another Bank of America promotional trick or do you think this actually looks like a preapproval?

Re: Bank of America prequalification with specfic APR and bonus?

Kostya1992 — Wed, 13 May 2015 01:21:00 GMT

Exact APR means they should have been soft pulling your reports for a while and you more than likely qualify.

Re: Bank of America prequalification with specfic APR and bonus?

bengalikejenga — Wed, 13 May 2015 01:29:03 GMT

seems legit

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Wed, 13 May 2015 03:17:04 GMT

Looks like a preapproval

Re: Bank of America prequalification with specfic APR and bonus?

wacdenney — Wed, 13 May 2015 03:27:26 GMT

I'm in the same boat.

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Wed, 13 May 2015 05:07:33 GMT

@wacdenny - do you mean that they are presenting you with the same page and options? Did you apply or plan to and if you did what was the outcome? Or that you agree it looks like a legit pre-approval?

What is it extremely odd about the whole thing is I have a whole bunch of new accounts since December 2014; below is all my open accounts.
• Mortgage 12/14 60k/64k
• Shared Secured Loan 4/15 500/$500
• Citi Diamond 4/15 1339/$1.5k
• Chase Freedom 3/15 1233/$3.5k
• AMEX Everyday 2/15 2615/$9k
• VS 2/15 13/$500
• Barclays Rewards 1/15 0/$1k
• Capital One QS 1/15 722/$3k
• BoA 123 2/13 835/$1k (paid down to >100 now)
• Capital One QS 1/11 472/$3.5k
Don't have yet or reported
• Discover Secured 5/15 0/$500 (funded 5/4/15)
Open Authorized Users accounts on my report;
• Chase 3/15 671/$3.5k
• Capital One 12/14 159/$800

I have 10 inquiries on TU but 1 should be removed soon since the credit union agreed to remove it - so as it stands right now the report says 10. TU inquiries are from the following dates ; 4/27/15 ( The one that should be removed), 4/14 (to join CU), 4/6, 3/3, 1/19, 1/19 (Yes 2 in 1 day, C1, Barclay), 10/8/14 ( mortgage closing), 7/22/14 (mortgage pre-approval), 7/9/14 and 7/8/14 which were both from Bank of America. So six inquiries from the past six months - hopefully that goes down the five soon.

Five inquiries on Experian dated 4/15 ( Discover card - getting a $500 secured card) 4/6, 3/3, 2/27 and 12/23/14 (Sprint / utility).

2 inquiries on Equifax dated 1/19/15 and 12/23/14 (Sprint / ultity). I also currently have EQ locked because I subscribe to their complete advantage plan.

As I mentioned above my current Bank of America account reports a balance of $835 with a limit of $1000 which is 83.5% utilization. I have since paid down the balance to under $100 and it typically updates on the reports on The 21st of each month. I subscribe to EDIT/MPM which allowed me to pull all three daily and I can pull EQ daily. At least from my view it seems to take an additional three day from when the lender updates to where it reflects the new changes on the report present it to me.

My current FICO 08 scores are EQ (5/9) 660, TU (5/10) 685 and EQ (5/10) 688.

On the Bank of America Prequalification page it said that the offers were good through 6/9. do you think I should wait until Bank of America updates on my credit report because on my reports it shows it as 85% utilized which is certainly her in my scores or do you think their internal System would pick it up is paid down? I'm thinking I should probably wait for the score boost but I am afraid that these offers will be gone by then.

With all this info do you still preapproved or should I wait or what is your advice?

Thanks for those who have commented so far and thanks in advance for those who respond in the future.

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Wed, 13 May 2015 22:55:36 GMT

Bump?

No one has any advice or thoughts about this Bank of America prequalification recommendation is likely to turn into an approval

No one has any advice or thoughts about this Bank of America prequalification recommendation is likely to turn into an approval based on the additional information I have provided?

Re: Bank of America prequalification with specfic APR and bonus?

wacdenney — Thu, 14 May 2015 00:05:31 GMT

I went for a CLI on my current card rather than a new card app. I was denied due to inquiries.

However... I had a new account report and additional inquiries lately. It is likely the pre-qual SP was done before and my report had changed since the offer was made. If there haven't been any changes to your report lately I would think your chances are very good.

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Thu, 14 May 2015 00:43:39 GMT

@Anonymous wrote:
Bump?

No one has any advice or thoughts about this Bank of America prequalification recommendation is likely to turn into an approval

No one has any advice or thoughts about this Bank of America prequalification recommendation is likely to turn into an approval based on the additional information I have provided?

4 people replied to your original post and said it looked like a solid preapproval. Not sure why you think you need more responses.

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Thu, 14 May 2015 01:24:33 GMT

good luck!

i just checked and i got an offer for travel rewards and 18.9..... no thanks!

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Thu, 14 May 2015 02:03:03 GMT

Well here is Bank of America for you.

Filled out the online Application for the Bank of America Cash Rewards card from the prequalification page that I had not offered $150 sign on bonus for spending $500 within 90 days, 0% APR for 12 months then 19.99%, 0% APR balance transfers for the first three months ?) and no annual fee. Submitted the application and a page floated saying thank you but we are unable to approve you at this time or something to that effect.

I come here to get the back door number for reconsideration and called them up. Spoke with Mike who said he was a senior credit analyst and a long story sure was my credit history is good but I have too many accounts with balances so at this time he is unable to approve my application. He said he would have management review my application and I would get a call by Friday.

After that call I came back to the side in the post her back door numbers and seen there was a number for credit analyst for current account holders. I have heard that they can use the same hard inquiry from the application to do a credit limit increase so I figured I might as well try to get something out of the inquiry. Mike, the first credit analyst I spoke with regarding my application said they pulled my Experian Credit report. I asked Bill, the existing cardholder credit analyst if they would be using the same inquiry for the credit limit increase request they used for my application and he said yes. However I do not believe this was the case because he asked me about an account that appears on my TransUnion report. He asked me how much I wanted to request my credit limit me and I told him "Well my America Express started me $9k so I'd like to meet or beat that with 10k". He put me on hold for literally 10 seconds and came back and told me my credit limit increased to $2800. it was $1000. I asked him if that's all he could do he said he could manually review it and I asked if that would result in any additional inquiries, he said no then I said well let's do it. As he was reviewing my profile he made comments regarding how good my accounts were in ask me about my one baddie and finally approved me for the full $10,000.

So it may of taken 2 hard inquiries - 1 from EX and 1 from TU. i'll find that out here and I have now or when I pulled my daily credit reports and update you guys.

Couldn't get them to approve me for a new car with even a $500 limit but could get them to increase my existing card from $1000 to $10,000. Doesn't really make sense. So now I'm wondering if management calls back to just drop it about my application since I like my new credit limit increase (highest). I don't want them reversing my credit limit increase. I had thought maybe they could take some of the increase in credit and just use some of it to open the new card.

Thoughts, advice, suggestions? Thank you all for your time. Sorry if Siri didn't type what I said correctly but it's so much faster.

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Thu, 14 May 2015 02:10:59 GMT

Just did my EDIT/MPM three credit agency pUll and Bank of America hit TU and EX.

Re: Bank of America prequalification with specfic APR and bonus?

Anonymous — Thu, 14 May 2015 22:38:55 GMT

Okay here's another quick update and I'm probably going to post in the 'Credit Car Approvals" section with a link to this thread.

Today I had management call me which I guess in the Bank of America world is the next level up from a senior credit analyst.

She was very impressed with my intelligence and knowledge of financing credit and complement me on building a strong credit file. She saw that yesterday I got my four-year-old Bank of America

She was very impressed with my intelligence and knowledge of financing credit and complement me on building a strong credit file. She saw that yesterday I got my four-year-old Bank of America Cash Rewards Card credit limit raised to $10,000 from $1000. She noted that was my highest limit card now behind my American Express at $9000. She presented me with the option - move some of the limit of the 4.2 year old BoA Cash Rewards card to opening the new applied for card which is the Bank of America Cash Rewards Card. She confirmed to me that my older card is in the final process of being converted to the Better Balance Rewards Card. So now I will have my free $100 a year and 3% back on gas when I can't get m so now I will have my free $100-$120 a year (BBR) and 3% back on gas (123) when I can't get 5%. I asked her if we could make both of the cards Visa Signature cards and she made them both so.

I will be getting $150 cash back after spending $500 within 90 days, 0% APR on purchases and balance transfers for 12 months and no AF. I'm really interested they'll be any promotion with this card like 0% balance transfer fee or 0% direct deposit APR.

So in the end I am pretty happy with the result, it took a TU and EX hard but it was worth it for one new card. I am going to let things settle for a couple days and then call back and try to get the TU hard inquiry removed because when I called and asked the existing card holder credit analyst ( after first failed reconsideration) if there would be an additional hard inquiry he told me no and that we could use the credit report pulled for the credit card application less than an hour ago to make the determination. Not sure if they will honor the statements that their represe not sure if they will honor the statements that their credit analyst make or not but worth a shot.

Re: Bank of America prequalification with specfic APR and bonus?

B335is — Thu, 14 May 2015 23:51:57 GMT

Congrats glad it worked out!

Re: Bank of America prequalification with specfic APR and bonus?

zarteycranford — Fri, 15 May 2015 10:28:39 GMT

Sonds like a set apr to me. Did it tell you you were pre selected. Or did it say we suggest this card for you. Seems to be a difference between the two.