topic Re: How Inquiry Sensitive is BOA? in Credit Card Applications

How Inquiry Sensitive is BOA?

Anonymous — Wed, 08 Apr 2015 20:58:37 GMT

I have no banking relationship with them, but am interested in beginning one with one of their credit cards (not sure which one yet).

Inquiries: TU 11, EX 15, EQ 5 (all of them within the last 6 months)

FICO: TU 727 EX 746 EQ 710

UTIL: Roughly 8% of 105k open credit (AmEx, Synchrony, Chase, Capital One, Comenity)

NEG: 1 Charge off only on my Equifax report (falling off August 2015)

INCOME: 85k

After going through as many posts as possible, it looks like BOA might be "iffy" when it comes to Inquiries (?) Are there any other peculiar nuances about this bank that I should know about before even applying with them (or maybe not applying at all)?

Re: How Inquiry Sensitive is BOA?

Anonymous — Wed, 08 Apr 2015 23:04:20 GMT

I had zero previous relationship with BOA. Had 5 TU, 10 EQ, and 11 EX hard inquiries within the last month. All my scores in the low 700s. Way more baddies than you. And my income is slightly lower than yours and was instantly approved for $5000.

Re: How Inquiry Sensitive is BOA?

Anonymous — Wed, 08 Apr 2015 23:11:54 GMT

@Anonymous wrote:
I had zero previous relationship with BOA. Had 5 TU, 10 EQ, and 11 EX hard inquiries within the last month. All my scores in the low 700s. Way more baddies than you. And my income is slightly lower than yours and was instantly approved for $5000.

That is reassuring! Which product did you apply for, and did you receive an instant approval?

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 00:53:14 GMT

The BOA cash rewards. Yes. I applied online and was approved within 60 seconds.

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 01:01:49 GMT

@Anonymous wrote:
The BOA cash rewards. Yes. I applied online and was approved within 60 seconds.

Thanks for the info! It definitely helps me make a more informed decision!

Re: How Inquiry Sensitive is BOA?

FinStar — Thu, 09 Apr 2015 05:02:15 GMT

@Anonymous wrote:
@Anonymous wrote:
The BOA cash rewards. Yes. I applied online and was approved within 60 seconds.
Thanks for the info! It definitely helps me make a more informed decision!

Worse case scenario (if denied) and if your profile support it, you can always ask for a reconsideration. They typically pull TU or EX.

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 05:05:36 GMT

I don't think they are at all. I get emails, letters, etc. from them all the time. I bank with them but since my Nov app spree, I just don't want to get another card right now. Only gardening for me. Go for it!

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 06:22:05 GMT

@Anonymous wrote:
I don't think they are at all. I get emails, letters, etc. from them all the time. I bank with them but since my Nov app spree, I just don't want to get another card right now. Only gardening for me. Go for it!

You guys are certainly tempting me! If I do recon, I hope they aren't as mean as the Barclay's analysts :/

Re: How Inquiry Sensitive is BOA?

B335is — Thu, 09 Apr 2015 07:24:38 GMT

BoA has never been inq sensitive for me. They did raise a concern about new accts once on a reconsideration call but they still approved me. I would say Citi and Comenity are the most sensitive to inquiries than the others.

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 07:37:36 GMT

@B335is wrote:
BoA has never been inq sensitive for me. They did raise a concern about new accts once on a reconsideration call but they still approved me. I would say Citi and Comenity are the most sensitive to inquiries than the others.

Good to know. And, I agree with the last part... especially citi! Any BOA product you'd highly recommend?

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 11:59:17 GMT

I was talking to one of their analysts the other day and she didn't seem concerned with my inquiries so I would assume that as long as you are making good stides as far as your credit score goes, it shouldn't be a big deal.

Re: How Inquiry Sensitive is BOA?

B335is — Thu, 09 Apr 2015 14:45:18 GMT

I like BoA Alaska Airlines card because the points are flexible. I've been scrambling to make $15k spend on my Virgin Atlantic card too but those points aren't as valuable as Alaska points. It really depends what you're looking for in a card. Better Balance Rewards (BBR) is a good deal for making minimum payment each month you get $25 quarterly bonus.

Re: How Inquiry Sensitive is BOA?

Anonymous — Thu, 09 Apr 2015 18:57:38 GMT

@B335is wrote:
I like BoA Alaska Airlines card because the points are flexible. I've been scrambling to make $15k spend on my Virgin Atlantic card too but those points aren't as valuable as Alaska points. It really depends what you're looking for in a card. Better Balance Rewards (BBR) is a good deal for making minimum payment each month you get $25 quarterly bonus.

I'll take your recommendations into consideration. One of the things I like best are flexible points -- ones that can be used for cash, gift cards, or travel so maybe the Alaska Airlines would best suit those interests, but I like the idea of making payments and getting rewarded for the behavior so the BBR would be nice too. If I applied for both, do you think they'd use the same HP?

Re: How Inquiry Sensitive is BOA?

Anonymous — Tue, 23 Jun 2015 22:17:59 GMT

Please list your AAoA when you applied for BOA- thank you

Re: How Inquiry Sensitive is BOA?

Anonymous — Tue, 23 Jun 2015 22:20:52 GMT

What i would do is wait until the charge off comes off, just a few more months...any inquiries coming off this year as well?

Re: How Inquiry Sensitive is BOA?

Anonymous — Tue, 23 Jun 2015 23:48:35 GMT

@Anonymous wrote:
Please list your AAoA when you applied for BOA- thank you

Approximately 2 years across the 3 reports! Hope this helps!

Re: How Inquiry Sensitive is BOA?

Anonymous — Tue, 23 Jun 2015 23:56:10 GMT

@Anonymous wrote:
I have no banking relationship with them, but am interested in beginning one with one of their credit cards (not sure which one yet).

Inquiries: TU 11, EX 15, EQ 5 (all of them within the last 6 months)

FICO: TU 727 EX 746 EQ 710

UTIL: Roughly 8% of 105k open credit (AmEx, Synchrony, Chase, Capital One, Comenity)

NEG: 1 Charge off only on my Equifax report (falling off August 2015)

INCOME: 85k

After going through as many posts as possible, it looks like BOA might be "iffy" when it comes to Inquiries (?) Are there any other peculiar nuances about this bank that I should know about before even applying with them (or maybe not applying at all)?

I think you will be fine. I had many inq's across all 3 reports. 9% UT and got approved for 12k. Got for it!

Re: How Inquiry Sensitive is BOA?

Anonymous — Wed, 24 Jun 2015 01:45:08 GMT

I know this is a little off topic, but OP why don't you call each credit bureau and ask for Early Exclusion of your baddie? If it's only about a month away from falling off, I don't see why they'd have a problem removing it early. I was successful doing this. TU and EX seemed to be the easiest and both removed them within 24-48 hours. EQ was like pulling teeth, but they did end up removing them about a week later.

As far as BOA cards, the Cash Rewards and Better Balance seem like good ones.

**Edit: Nevermind, I re-read your post. Your only baddie is on EQ so it's probably not worth the trouble.

Re: How Inquiry Sensitive is BOA?

Anonymous514 — Fri, 21 Aug 2015 02:00:49 GMT

Whenever I see your posts I have to double check it's not one of mine our siggys kinda look alike

Re: How Inquiry Sensitive is BOA?

UncleB — Fri, 21 Aug 2015 08:36:07 GMT

I app'd for the BoA AAA Visa, and was denied. The denial letter said my credit score (EX) was 708, and the reasons for the denial were my two six year-old COs, and lack of recent installment loan history.

Based on what I've read others report, I feel if I had the installment loan history my app would have been OK.

This is speculation on my part, but you can use my experience as a data point when comparing notes.