topic Re: BofA pre-qual on thier site in Credit Card Applications

BofA pre-qual on thier site

morgacj2004 — Fri, 21 Aug 2015 21:01:28 GMT

So I currently have a BofA cash rewards secured card (3 months). I was in my acct and noticed they had several special offers for me one of them was the BofA Cash rewards card with $100 back after $500 spend. Is this a pre-qual based on my personal profile or just an offer that everyone who has an acct with them sees?

Re: BofA pre-qual on thier site

ojefferyo — Fri, 21 Aug 2015 21:05:21 GMT

@morgacj2004 wrote:
So I currently have a BofA cash rewards secured card (3 months). I was in my acct and noticed they had several special offers for me one of them was the BofA Cash rewards card with $100 back after $500 spend. Is this a pre-qual based on my personal profile or just an offer that everyone who has an acct with them sees?

No, their prequal is pretty useless. I see it all the time when I log in and I have the card.

Re: BofA pre-qual on thier site

DaveInAZ — Fri, 21 Aug 2015 23:31:31 GMT

I also have a BoA secured card for around 3 months. No, as ojefferyo says, BoA "pre-qual" is useless - the key is when they quote a range of APRs, such as "11.99-21.99% variable APR". A true pre-qual will quote you a specific interest rate, such as 16.99%, not a 10 point range. With a wide range of APRs they're not reviewing your credit with a SP, they're just trying to entice you to app.

Also, at 3 months the account is still too new to rate. While the standard BoA line for the secured card is 1 year to unsecure, a credit analyst told me 7 months is the earliest they will unsecure. I'm thinking of just app'ing for a BoA CC in 8-9 mos rather than app to unsecure - they're both a HP, and if I get approval close the secured card. While the $100 spend bonus cashback for the rewards card is nice I want the Better Balance Rewards card - for every quarter (3 months) you pay at least the minimum payment on time you get a $25 statement credit, with no minimum amount charged to the card. Theoretically you could just have a $7 Netflix monthly bill post monthly & PIF and get $100 per year in reward statement credits. But BoA probably wouldn't be very happy with that, I plan to have my $50/mo internet bill + $11 Netflix bill post to it, setup automatic PIF payments, put the card in a sock drawer and sit back and get a $25 statement credit every 3 months - that will be almost 14% rewards.

Re: BofA pre-qual on thier site

ddemari — Sat, 22 Aug 2015 00:22:04 GMT

OP- unless the prequal is under speical offers tab on your online banking account and the next to the card is gives u a firm apr like 17.9%, it is not a legit pre qual with boa.

Re: BofA pre-qual on thier site

Anonymous — Sat, 22 Aug 2015 15:34:17 GMT

@morgacj2004 wrote:
So I currently have a BofA cash rewards secured card (3 months). I was in my acct and noticed they had several special offers for me one of them was the BofA Cash rewards card with $100 back after $500 spend. Is this a pre-qual based on my personal profile or just an offer that everyone who has an acct with them sees?

I would say those could be legit offers. I've had their partially secured card for almost 6 months now and they never offer me any cards in their "special offers" section. I know their online pre-qualifier is crap, but I think the special offers they give you in your account are different.

Edit: I take it back, when I first started with them (for like the first month) they kept offering me the same 99/500 card I already had in my "special offers" tab.. lol. Since then I've had no offers at all.

Re: BofA pre-qual on thier site

ddemari — Tue, 25 Aug 2015 00:04:02 GMT

I agree their general find my offer card thing is garbage. but I have seen on here people showing under their special offers tab for example;

BankAmericard Visa - apr 17.9% - that is a legit offer or somethign along those lines.

Re: BofA pre-qual on thier site

morgacj2004 — Tue, 25 Aug 2015 02:18:02 GMT

My offer did not have a specific APR but had a range of APRs. As I have a BK I will hold off on applying.

Re: BofA pre-qual on thier site

tbque — Tue, 25 Aug 2015 02:31:06 GMT

Wise move OP.

Re: BofA pre-qual on thier site

Anonymous — Tue, 25 Aug 2015 02:37:29 GMT

My dead cat got pre qualified for a BofA Travel Rewards card. Doesn't work. You have to cold app.

Re: BofA pre-qual on thier site

ddemari — Tue, 25 Aug 2015 03:05:09 GMT

Definitely hold off.

Re: BofA pre-qual on thier site

Anonymous — Tue, 25 Aug 2015 03:09:05 GMT

😂 at dead cat

Re: BofA pre-qual on thier site

morgacj2004 — Tue, 25 Aug 2015 04:36:02 GMT

I called CSR and he confirmed the offers that I see in my online acct are generic and in no way pre-approved.