topic Re: Multiple BOA Cash Rewards cards? in Credit Cards

Multiple BOA Cash Rewards cards?

Benzman — Sun, 18 Dec 2016 19:29:50 GMT

I have one that I just got a CLI on last week. Was thinking of applying for another of the same card but wondered if I would have to wait to apply? Has anyone ever got two of the same card from BOA without question/issues?

Re: Multiple BOA Cash Rewards cards?

Anonymous — Sun, 18 Dec 2016 20:04:31 GMT

Ive seen many people. Here with multiple better balance rewards cards from them. I dont see why you couldn't have more than one of their other cards.

Re: Multiple BOA Cash Rewards cards?

UFGuy2006 — Sun, 18 Dec 2016 21:53:49 GMT

Yep, you can apply for multiple of the same type of card.

Re: Multiple BOA Cash Rewards cards?

Benzman — Sun, 18 Dec 2016 22:10:12 GMT

I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?

Re: Multiple BOA Cash Rewards cards?

Themanwhocan — Sun, 18 Dec 2016 22:35:32 GMT

@Benzman wrote:
I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?

Both scenarios are possible. They might approve you by auto-moving some credit limit, or they may deny you a card and you might be able to get the card approved by suggesting moving some of the limit. this assumes that you were denied for already having too much credit limit. You won't know the real reason why until/unless you attempt a recon.

However, they do also decide if you can have another card based on your usage of existing cards and current FICO scores, etc. So if their computer denys you for having too many BofA cards, then you are not likely to get that forced through by recon.

Re: Multiple BOA Cash Rewards cards?

BronzeTrader — Sun, 18 Dec 2016 22:36:45 GMT

@Benzman wrote:
I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?

They normally do not transfer existing CL. They would just deny your app of they think you already get enough credit from BA.

I have two cash rewards CCs. but what the purples are? On the better balance CCs are good for multiples.

Re: Multiple BOA Cash Rewards cards?

Benzman — Sun, 18 Dec 2016 23:41:17 GMT

Well, I gave it a try and applied for second card. Didn't get approved or denied. It said "we cannot process your application" and a letter to follow, so I guess I will have to wait to find out.

Re: Multiple BOA Cash Rewards cards?

UncleB — Mon, 19 Dec 2016 00:20:33 GMT

@Benzman wrote:
Well, I gave it a try and applied for second card. Didn't get approved or denied. It said "we cannot process your application" and a letter to follow, so I guess I will have to wait to find out.

I'm sorry to hear that... when you get the letter please share what the reason was if you don't mind; I was thinking about trying for a second BBR myself.

Re: Multiple BOA Cash Rewards cards?

Sharingan — Mon, 19 Dec 2016 01:04:05 GMT

@Benzman wrote:
I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?

Bank of America absolutely can pull credit from your other accounts in order to approve a new application if you would otherwise qualify for the card but have reached the maximum amount of credit they will extend to you. That is definitely why the language is there in the application. Their system will even do it automatically in order to generate an instant approval. It happened to me on two occasions as recently as this past summer, however, I did have quite a bit of credit with the bank at the time on my existing accounts. I did not get to choose how much was pulled from my other cards or the credit line of the new account.

Strangely, I ended up getting auto-CLIs a few months later anyway on the existing accounts.

Re: Multiple BOA Cash Rewards cards?

Anonymous — Mon, 19 Dec 2016 01:16:08 GMT

@BronzeTrader wrote:
@Benzman wrote:
I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?
They normally do not transfer existing CL. They would just deny your app of they think you already get enough credit from BA.

I have two cash rewards CCs. but what the purples are? On the better balance CCs are good for multiples.

actually they normally do transfer existing CL, usually from your oldest card or one with the highest CL. Often times it happens automatically and you are forced to call back in to reallocate limits.

Op you should get a BBR instead of another CR card. Simply depositing $300 into a free savings account will yield you $120/yr. Most folks just place Hulu on there and let it report and then have it set to auto pay.

I would pair that BBR app with the Merrill lynch card for $500 cash or $1000 in airfare.

Re: Multiple BOA Cash Rewards cards?

BronzeTrader — Mon, 19 Dec 2016 01:50:59 GMT

@Anonymous wrote:
@BronzeTrader wrote:
@Benzman wrote:
I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?
They normally do not transfer existing CL. They would just deny your app of they think you already get enough credit from BA.

I have two cash rewards CCs. but what the purples are? On the better balance CCs are good for multiples.
actually they normally do transfer existing CL, usually from your oldest card or one with the highest CL. Often times it happens automatically and you are forced to call back in to reallocate limits.

Op you should get a BBR instead of another CR card. Simply depositing $300 into a free savings account will yield you $120/yr. Most folks just place Hulu on there and let it report and then have it set to auto pay.

I would pair that BBR app with the Merrill lynch card for $500 cash or $1000 in airfare.

How do you apply the 2nd card with the first one? You apply over the phone?

Re: Multiple BOA Cash Rewards cards?

Anonymous — Mon, 19 Dec 2016 06:28:10 GMT

@BronzeTrader wrote:
@Anonymous wrote:
@BronzeTrader wrote:
@Benzman wrote:
I notice in their terms, it says if you have existing BOA accounts, they can utilize the available credit to open the new account. Has anyone ever encountered them doing that, or do they just assign a new credit line to the new card?
They normally do not transfer existing CL. They would just deny your app of they think you already get enough credit from BA.

I have two cash rewards CCs. but what the purples are? On the better balance CCs are good for multiples.
actually they normally do transfer existing CL, usually from your oldest card or one with the highest CL. Often times it happens automatically and you are forced to call back in to reallocate limits.

Op you should get a BBR instead of another CR card. Simply depositing $300 into a free savings account will yield you $120/yr. Most folks just place Hulu on there and let it report and then have it set to auto pay.

I would pair that BBR app with the Merrill lynch card for $500 cash or $1000 in airfare.
How do you apply the 2nd card with the first one? You apply over the phone?

You just apply the same day. I say make sure its a week day, not a holiday, and is not past midnight in any given US timezone. Usually BOA combines apps....Online...