topic Re: Best High SL for BOA Rewards Cards?? (Please Help) in Credit Cards

Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 07:50:42 GMT

Hi All

So. I am wondering if anyone knows which BOA rewards card has a decent SL? Do any of them have minumum SL's like $5k to start or $10k? Which ones? I could use the Cash, Travel, or Premium Rewards. They all would help me, but would love to know what the Highest, lowest and overall best SL's each is. Any BOA masters awake?? Thank you.

Mark

Re: Best High SL for BOA Rewards Cards?? (Please Help)

CreditCuriosity — Sun, 28 Oct 2018 12:01:52 GMT

Its really profile specific and all the cards listed have a potential of having a good SLof 5k and lot higher. First and foremost it really depends if you have a bit of history with BofA imo as if you don't have a CC with them now chances are they won't throw you a 10-20k approval as those are built with either a relationship with them or from a card that has been built up over time with CLI's. BofA from what I have seen typically don't throw out huge approvals out the gate like say Chase. If I was to pick the one with the min. of at least 5k it would be the preferrred rewards as starts as a signature and I believe BofA still honors the 5k min. on that card and card is intended more-so for people with assets at bofa, altough certainly not needed you will just return alot more rewards if you have 100k parked with them or merill.

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Viva-LV — Sun, 28 Oct 2018 14:30:10 GMT

+1 Depends on your profile. I started out with the Cash rewards @ $6500 sl, with no relationship. That grew within two years to my current cl with BOA of $76k (two cards).

Re: Best High SL for BOA Rewards Cards?? (Please Help)

kdm31091 — Sun, 28 Oct 2018 14:50:50 GMT

Of the three I would think the Premium Rewards has the toughest underwriting. Other than that I don't really think the SL relates to the card product specifically. It just depends on your profile.

If I had to hazard a guess the Cash Rewards is probably their easiest rewards card to get, but that doesn't mean you will get a high limit. That said with BOA the SL isn't that big of an issue because they tend to be accomodating with CLI over time. YMMV of course but they seem to be pretty willing to increase limits if you show responsible use.

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 19:19:59 GMT

Thanks so much for your response. I don’t have a credit card w BOA but I do have a personal checking acct and my business has an act w them. I don’t Think the business account will weigh in, as my name is not on it., But I have moved a lot of money in and out of my personal checking account, and there is about $25,000 in it now. Maybe that will at least get me over the hump? Everything else makes a lot of sense! Thank you.

M

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 19:21:58 GMT

Wow. How did you go from that SL to your current SL? That is a huge increase. How does a CLI work with them, if that’s how you achieved that? Were you given any automatic CLI’s Or were they all personal requests? Thank you again.

M

Re: Best High SL for BOA Rewards Cards?? (Please Help)

CreditCuriosity — Sun, 28 Oct 2018 20:01:18 GMT

What is your current Experian Fico 08 score if you don't mind me asking? I wet from a 17k merill lynch to 40k all with SP cli's. BofA after 3-6 months will allow each CLI to be a (soft pull) against your TU credit file. If you had 25k parked in their the premium rewards card and the sign-up bonus might be a good card for you. Depending on your score/income and other factors in your profile you could end up with a decent sl.. Someone earlier today was approved for that exact same card at 15k with around a 710 Experian score, but alot more goes into starting amounts and or approvals than score alone.. How many accounts have you opened in the last 2 years, what is your average age of account approx, any baddies on your report, if so what, how many HP's do you have on experian and things like that. If you can give us a better picture of your credit profile we can speculate a bit more, but nothing in the credit world is guaranteed

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 20:30:54 GMT

Ok. Here goes:

Exp- 731
TU- 730
EQ- 730
FICO 8- 731
(Scores have dropped over 6mnths w me using the cards more and having a balance and the HPs from card apps below).

Utilization 23%
Age of Cr- 5+yrs
HPs- Exp-10 TU-10 Eq-3 (4 Falling if each in leads than a month)

I have opened 5 cards in the last 2yrs. 3 in last 6mnths.
Chase SP- $10k
Chase FU ($12k)
Amex Cash Mag- $12k
Discover- $5k (not sure why lower limit w them).
Cap One Savor- $5k

Mazda Lease through Chase- perfect standing.

A couple of car loans that have been paid in full w perfecto payments.

No late payments no derogatory marks.

Hmmmmmm.... Anything else I’m missing? And again, I have a BOA personal checking I use a lot and they keep hounding me with “special offers” worked great w Chase.
How bad are inquiries? They all off yes, how many is too many? Seriously. lol. I’d love one more card then gardening.
Thx
Mark

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 20:33:48 GMT

I meant to say in the HP section that 4 inquiries will be falling off each bureua in less than a month. Also, like I said, my FICO 8 was 760+ months back but has dropped to current score for reasons listed but NO DEROGATORY ANYTHING.

M

Re: Best High SL for BOA Rewards Cards?? (Please Help)

CreditCuriosity — Sun, 28 Oct 2018 20:42:39 GMT

I think you might be ok... Inquiries IMO are overrated, although some lenders look at new accounts more-so than others being Cap1, Chase to name a few and very new account sensitive. The utilization is a bit on the high side, ideally you want to keep that down under 10% aross the board.. Are any of cards near max? Also are you pre-approved on any of their cards on their web-site under offeres with SET apr's and not range of 14.99-23.99; meaning BofA Premium Rewards 17.99 apr and not a range? People have certainly been approved for that card or bofa cards with more inquiries and if you have that kinda cash approx 25k sitting in their account any given time that helps a bit as well.. Let me know about the offers, but alot of times credit is an educated risk/gamble even if you got approved and say started out with 5k, assuming your assets support it that CL can grow very rapidly by sp's. Although I suspect with your profile which is pretty decent you will start above 5k assuming none of your cards are "maxed". Also 5 cards in the last 2 years isnt bad at all and well within BofA tolerances.

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 20:53:55 GMT

So, none of my cards are even close to being maxed out. They are spread out very well! Under offers, when I logon onto my BOA checking and savings acct It just says these offers have been selected for me. Is there another place on the website that would say if I’m preapproved? ....FYI, I do have a preapproval right now in my American Express for either there Hilton card or there SPG card. Do you know anything about either? Which is better? The Hilton is giving 125,000 bonus points and has a $95 annual fee, while the SPG card is giving 75,000 points bonus, and no annual fee , I believe the first year, then $95 per year. I know the Hilton is an old-school hotel group with a lot of Hotels out of the USA in other countries. I don’t really travel internationally. SPG, might be good...... Thoughts? On the Amex offers? They are guarantees, and definitely will be soft balls,! That’s why I haven’t pulled the trigger with that yet. But, would like to do so......anyway, I have my checking account with BOA, and a preapproval with Amex for either of those two cards. What are your thoughts? One more crazy question. Does it matter when you apply online for a card? Is Sunday night not a good time? Should you do it Monday through Friday during normal people’s business hours? Or, does the algorithm make the time of day and day not matter?
M

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 20:55:41 GMT

*Soft pulls, i meant... hahahaha. Sorry.

Re: Best High SL for BOA Rewards Cards?? (Please Help)

CreditCuriosity — Sun, 28 Oct 2018 21:15:06 GMT

You don't have to be pre-approved, just a bit of extra security.. Honestly if you want a BofA card I personally think you would be fine, but the pre-approvals look like this I have a few now, but nothing of interest and the APR's are on the high end for me although i try to PIF monthly.

That is what a BofA pre-approval looks like although 99% of my cards I have gotten have never had pre-approvals other than Cap1 and a few Chase cards. So don't put to much weight on those..

Since you have an Amex card you are probably pre-approved for any of their card and the worse case on new cards they are only SP for approvals or denials, it really comes down to whether you can use another Amex card and what value you want from one of their cards if they are appealing to you or not. I usually myself go for cards for their sign-up bonus and then use most of my spending on a 2% card there after such as a Citi Double Cash card to maximize my spend or if eating out on the CSR, etc.. Really depends on your need as we can tell you what you want in a card with regards to rewards, etc... I think you probably if you want a BofA card would be fine personally even if not pre-approved, fine with Amex as well or probably most other lenders like Citi (although more conservative on CL's), etc... Best of luck on whatever you decide to do and hopefully some of the info was helpful

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 21:25:20 GMT

Thanks so much for taking the time out of your Sunday to help better inform me. Really!!! Thanks. I would love the Citi for the 2% and you are soooo right, rewards is for me. I think I’m going to pull the trigger for the BOA Cash Rewards. I think that may be a good start, unless the premium rewards card might be the better choice? If I don’t get approved, I’ll go with the Amex x Pre-Approval. Fingers crossed . Will update.

Mark

Re: Best High SL for BOA Rewards Cards?? (Please Help)

Anonymous — Sun, 28 Oct 2018 21:29:44 GMT

Btw.... One more quick question. Where do you get to that offer screen in your pic. Mine looks a little different when I log into my bank account. I just go to special offers for me. Is that where you go? Is there a different tab. Thanks again for everything

Re: Best High SL for BOA Rewards Cards?? (Please Help)

CreditCuriosity — Sun, 28 Oct 2018 23:32:27 GMT

@Anonymous wrote:
Btw.... One more quick question. Where do you get to that offer screen in your pic. Mine looks a little different when I log into my bank account. I just go to special offers for me. Is that where you go? Is there a different tab. Thanks again for everything

Yes that is where you go and it would show at least one card there currently i am "pre-approved or pre-quaified" with set aprs for 3 cards alaska, the simple bt card and the travel rewards card. Granted sure i probably could get other ones as well although have had issues getting premium rewards in the past due alot of new accounts and they protect that card more-so than others.

not a problem on the help.