topic Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!! in Business Credit

BofA Biz Cash MC "Offer" - UPDATE: Approved!!

credit_is_crack — Sat, 30 Mar 2019 13:45:18 GMT

BofA must be really trying to push their business products.

They've been blasting their "Get our business checking account" offer when I log in for about 2-3 months now. Tonight I was paying my bill and there was a "Your business card offer!" link under my personal checking account. Seemed like an odd place to put it and when I clicked it, it was pretty clear it was for a business card. It's not an offer though, more so the standard "You're invited to apply" -- isn't everyone? lol

I'm not sure what their actual pre-approvals look like, but I'm sure this isn't one of them. Anyone else getting these pop-ups from them?

**SUB UPDATE**

Card approved on 03/04. Reached minimum spend on 03/25. $200 SUB posted on 03/28 -- first cycle hasn't even closed yet but it's on there. They got it on there fast! Always nice.

Re: BofA Cash Rewards "Offer"

LittleSal — Tue, 05 Mar 2019 09:43:23 GMT

I received this offer as well. They followed it up with a mailer. Looks like a decent business card.

Re: BofA Cash Rewards "Offer"

CreditCuriosity — Tue, 05 Mar 2019 19:42:51 GMT

Got hit with this today as well as well as business checking recently.. They are really pushing their business cards. Wonder how they are with SP or if you should use an EIN . also do they just pull personal credit or do they also pull EQ or Exp Business credit report? Anyone?

Re: BofA Cash Rewards "Offer"

AverageJoesCredit — Tue, 05 Mar 2019 21:03:58 GMT

Got this too. They wont give me cli but they have this and a $300 checking account bonus on site for me. Cant get the $300 as my job doesnt have direct deposit and im not about to use any more hps for Boa, tired of rejection

Re: BofA Cash Rewards "Offer"

SouthJamaica — Tue, 05 Mar 2019 23:03:46 GMT

@CreditCuriosity wrote:
Got hit with this today as well as well as business checking recently.. They are really pushing their business cards. Wonder how they are with SP or if you should use an EIN . also do they just pull personal credit or do they also pull EQ or Exp Business credit report? Anyone?

It's a decent card. My only quibble is they have a weird kind of bookkeeping setup. They post 2 accounts, 1 for the payments, 1 for the charges. Other than that it's fine.

It's a HP.

Yes they pull personal credit.

It reports only to business credit.

Re: BofA Cash Rewards "Offer"

Anonymous — Wed, 06 Mar 2019 02:01:06 GMT

@CreditCuriosity wrote:
also do they just pull personal credit or do they also pull EQ or Exp Business credit report? Anyone?

They will pull your personal for me it has been EQ or TU at different times

They will pull SBFE for business

Re: BofA Cash Rewards "Offer"

CreditCuriosity — Wed, 06 Mar 2019 14:04:18 GMT

@Anonymous wrote:
@CreditCuriosity wrote:
also do they just pull personal credit or do they also pull EQ or Exp Business credit report? Anyone?
They will pull your personal for me it has been EQ or TU at different times

They will pull SBFE for business

interesting on SBFE had to do a quick google on that so kinda a lexus nexis of small business info?

Re: BofA Cash Rewards "Offer"

credit_is_crack — Fri, 08 Mar 2019 14:54:15 GMT

@CreditCuriosity wrote:
@Anonymous wrote:
@CreditCuriosity wrote:
also do they just pull personal credit or do they also pull EQ or Exp Business credit report? Anyone?
They will pull your personal for me it has been EQ orTUU at different times

They will pullSBFEE for business
interesting onSBFEE had to do a quickgooglee on that so kinda alexussnexiss of small business info?

If the credit you're applying forparticipates in SBFE then the SBFE provides like a mini-report of the above info. It does not produce scores or anything like that, but like a 2nd verification of what someone has under their business name.

I opened a biz checking account with BofA last year and applied for their card at the same time. IF they had submitted a request for the SBFE report it would have been totally absent since their card was the first item I'd ever have under my business name. Not sure if BofA uses them, but they were much more curious about my personal stuff. Really they just wanted to confirm I was who I was, similar to when I'd open additional personal checking accounts, but the process was quite painless.

They did not approve my card app, but counted with their secured version ($1,500 minimum and didn't even know they had one). It was just like when I applied for my regular personal cards way back when and they came back with the $99/$500 option. I wasn't too surprised though because I was applying for my first biz card and had zero biz credit history. I did not take them up and opted out. Hope that helps

Re: BofA Cash Rewards "Offer"

CH2022 — Thu, 07 Mar 2019 02:17:53 GMT

I dont think SBFE matters for Bofa Credit app.

Lot of people i personally know, got approved for Business Card from Bofa with in 3 month of registering business.

Prior History and Opening account at branch really gives advantage for approval.

Re: BofA Cash Rewards "Offer"

Rgudino1717 — Thu, 07 Mar 2019 18:57:24 GMT

I've received 2 offers to apply for business credit cards in the last 6 months. First was an online one, applied and approved. 2nd time I received a call from my local branch's business specialist, applied and approved. In both cases I believe the only pulled EX, and did not pull SBFE, however during a term loan application they did pull lexisnexis.

Re: BofA Cash Rewards "Offer"

credit_is_crack — Thu, 07 Mar 2019 23:41:00 GMT

UPDATE -- So I decided to go for it. Worst case is it would cost me a hard pull, and I've been good about gardening so figured why not give it a whirl again. Went back online, clicked the offer thru the links and completed the form.

Hit submit, 10 seconds later, Approved! Wasn't expecting anything other than a manual review, but it went right thru. Woo-Hoo!! I immediatly thought "Did they take money from my other cards to fund this???" -- doublecheck and still whole. My personal cards are still in tact.

$3,500 SL, don't know what the APR is though

$200 SUB for $500/60 Days -- this SUB feels like an easy target

Re: BofA Cash Rewards "Offer"

LittleSal — Fri, 08 Mar 2019 04:31:37 GMT

Congrats! I’ve been thinking about applying for it.

Was it a HP?

Re: BofA Cash Rewards "Offer"

Anonymous — Fri, 08 Mar 2019 13:14:00 GMT

Congrats!

Re: BofA Cash Rewards "Offer"

credit_is_crack — Fri, 08 Mar 2019 14:48:21 GMT

@LittleSal wrote:
Congrats! I’ve been thinking about applying for it.

Was it a HP?

Thanks! Yes, they pulled TU (I live in SC), not sure which version but BofA tends to use FICO 8.

Re: BofA Cash Rewards "Offer"

credit_is_crack — Fri, 08 Mar 2019 14:48:54 GMT

@Anonymous wrote:
Congrats!

Thanks @Citalix!

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

credit_is_crack — Fri, 08 Mar 2019 14:53:24 GMT

My account updated online this monring and it looks funky lol

Looks like there is a CORP account and a regular Business Advantage (with my name attached) as a sub-card on the CORP account. Is that how BofA does that? I see each 'account' has it's own account number.

I wonder if they issue two cards (one under the biz name only, and then one under biz w/my name). We'll see when they arrive or I'll give them a buzz to find out.

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

LittleSal — Fri, 08 Mar 2019 15:12:05 GMT

Thanks!

Did you have a business banking relationship with BoA prior to this card?

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

credit_is_crack — Fri, 08 Mar 2019 15:50:23 GMT

@LittleSal wrote:
Thanks!

Did you have a business banking relationship with BoA prior to this card?

Nope - nada.

I opened up a Biz checking account last year in Feb 2018, and I ended up closing it out within 45 days (the local Business Banker was horrible and Chase was doing it right so I went with them instead). With BofA I currently only had personal products:

BofA Cash Rewards V, $10k limit, opened OCT 2015
Personal checking (with literally only $29 in it), opened NOV 2016
BofA Cash Rewards VS, $30k limit, opened SEPT 2017

I had no existing BofA Business products. Went straight from no business products right to their credit card. I thought I'd get the "no enough relationship" so I was shocked to see it just approved it online, and without taking credit from my personal cards.

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

FinStar — Fri, 08 Mar 2019 17:07:23 GMT

Congrats on the BoA biz CC approval OP.

The set up kind of reminds me of USB for some of the biz CCs. If you have multiple employees, USB can set up a "central billing account" as the receivable which is linked to the primary and it looks funky as well.

So, interesting DP that they pulled TU for this app. I can't recall what they used last time for mine (Alaska biz), I was thinking EX (too long ago) 😄

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

LittleSal — Fri, 08 Mar 2019 20:52:26 GMT

Wow. Awesome approval.

Thanks for the DP’s.