topic Re: BoA offer legit? in Credit Cards

BoA offer legit?

PrinceCorwin — Wed, 14 Jun 2017 23:11:52 GMT

My wife and I have a joint checking account with BoA. Her name has been on the account for 30+ years. I was added a year ago (We are recently married). Her FICO is EX 630, TU 636, EQ 623. She has two collections we are working on. Recently she went into the bank and they told her she had an offer for a CC and since it would be apped at the bank, she would probably get it. Since her credit isn't stellar and she has a couple of baddies still showing, I"m wondering if they are just fishing for an app. She currently has only CareCredit in her name. All other CC are as AU.

I should note BoA did the same thing to me a few weeks ago when I went in and I apped and was approved for $1500 but I have scores @700 and no baddies

What are your thoughts?

Re: BoA offer legit?

PrinceCorwin — Thu, 15 Jun 2017 13:43:17 GMT

bump... looking for any insight

Re: BoA offer legit?

AverageJoesCredit — Thu, 15 Jun 2017 14:00:24 GMT

I would think if the bank itself mentioned she has an offer, it should be good, relatively anyway. Just look at yourself as an example. Yes your scores may be better, but sometimes ones banking relationship can overide actual scores.

Re: BoA offer legit?

SouthJamaica — Thu, 15 Jun 2017 22:05:25 GMT

@PrinceCorwin wrote:
My wife and I have a joint checking account with BoA. Her name has been on the account for 30+ years. I was added a year ago (We are recently married). Her FICO is EX 630, TU 636, EQ 623. She has two collections we are working on. Recently she went into the bank and they told her she had an offer for a CC and since it would be apped at the bank, she would probably get it. Since her credit isn't stellar and she has a couple of baddies still showing, I"m wondering if they are just fishing for an app. She currently has only CareCredit in her name. All other CC are as AU.

@I should note BoA did the same thing to me a few weeks ago when I went in and I apped and was approved for $1500 but I have scores @Anonymous and no baddies

What are your thoughts?

I don't think that they would tell her she had a preapproval if she didn't. On the other hand, in view of the marginal nature of her scores, I would be wary of applying unless her scores have been going up lately. The scores she had when they took the soft pull might not be operative when she applies. I.e., if her scores on the date of the application are 5 or 10 points less than they were on the soft pull, she would probably get denied.

Re: BoA offer legit?

PrinceCorwin — Fri, 16 Jun 2017 23:03:17 GMT

@SouthJamaica wrote:
@PrinceCorwin wrote:
My wife and I have a joint checking account with BoA. Her name has been on the account for 30+ years. I was added a year ago (We are recently married). Her FICO is EX 630, TU 636, EQ 623. She has two collections we are working on. Recently she went into the bank and they told her she had an offer for a CC and since it would be apped at the bank, she would probably get it. Since her credit isn't stellar and she has a couple of baddies still showing, I"m wondering if they are just fishing for an app. She currently has only CareCredit in her name. All other CC are as AU.

@I should note BoA did the same thing to me a few weeks ago when I went in and I apped and was approved for $1500 but I have scores @Anonymous and no baddies

What are your thoughts?
I don't think that they would tell her she had a preapproval if she didn't. On the other hand, in view of the marginal nature of her scores, I would be wary of applying unless her scores have been going up lately. The scores she had when they took the soft pull might not be operative when she applies. I.e., if her scores on the date of the application are 5 or 10 points less than they were on the soft pull, she would probably get denied.

That pretty much sums up my feelings. Since I don't know when they did the soft pull, I figure we should just wait a month until one of the two collection have been paid off and reported as such until we apply

Re: BoA offer legit?

UncleB — Sat, 17 Jun 2017 04:36:10 GMT

Moving to 'Credit Cards' for additional exposure...

Re: BoA offer legit?

Aprile421 — Sat, 17 Jun 2017 17:07:42 GMT

Back a few years ago before my credit is where it is now. I got the same type of offer from a teller at Bank of America. At that point I had been banking with them for 20 years. I was super happy they said that and went for it only to be denied sigh. I think my scores were around the same point hers is now. A few years later I actually got a mailer instead of a verbal offer and pulled the trigger again and was approved. So my advice would be to wait and see if she gets a mail offer as the verbal offers don't mean much to me after my experience.

Re: BoA offer legit?

PrinceCorwin — Sat, 17 Jun 2017 19:18:58 GMT

@Aprile421 wrote:
Back a few years ago before my credit is where it is now. I got the same type of offer from a teller at Bank of America. At that point I had been banking with them for 20 years. I was super happy they said that and went for it only to be denied sigh. I think my scores were around the same point hers is now. A few years later I actually got a mailer instead of a verbal offer and pulled the trigger again and was approved. So my advice would be to wait and see if she gets a mail offer as the verbal offers don't mean much to me after my experience.

Now THAT'S the answer I was looking for. Thanks. I think we will just wait.