topic Re: Chase vs Bank of America in Credit Cards

Chase vs Bank of America

hernaemm90 — Sun, 22 Mar 2020 21:44:57 GMT

Hello everyone,

I'm getting ready to apply for my next credit card, the next two on my list is the Chase Freedom and the Bank of America Cash Rewards.

My question is, which of these two cards is easier to get approved for?

Re: Chase vs Bank of America

seattletravels — Sun, 22 Mar 2020 21:50:42 GMT

@hernaemm90 wrote:
Hello everyone,

I'm getting ready to apply for my next credit card, the next two on my list is the Chase Freedom and the Bank of America Cash Rewards.

My question is, which of these two cards is easier to get approved for?

Neither is "easy". If you want our opinion on if you are likely to be approved for one or the other, please provide your DP and we'll kindly oblige. Need score, inquiries, individual account age and util%, etc.

Re: Chase vs Bank of America

hernaemm90 — Sun, 22 Mar 2020 22:03:35 GMT

@seattletravels wrote:
@hernaemm90 wrote:
Hello everyone,

I'm getting ready to apply for my next credit card, the next two on my list is the Chase Freedom and the Bank of America Cash Rewards.

My question is, which of these two cards is easier to get approved for?
Neither is "easy". If you want our opinion on if you are likely to be approved for one or the other, please provide your DP and we'll kindly oblige. Need score, inquiries, individual account age and util%, etc.

My question is which of these two cards is easier to get approved for?

Re: Chase vs Bank of America

simplynoir — Sun, 22 Mar 2020 22:09:48 GMT

Is 5/24 a factor? Because if it is then the choice is already taken out of your hands

Re: Chase vs Bank of America

hernaemm90 — Sun, 22 Mar 2020 22:11:21 GMT

@simplynoir wrote:
Is 5/24 a factor? Because if it is then the choice is already taken out of your hands

No, 5/24 is not a factor

Re: Chase vs Bank of America

simplynoir — Sun, 22 Mar 2020 22:18:07 GMT

Then assuming your scores are good then it comes down to the little things because I think they are more or less equal in terms of getting approvals for. The Cash Rewards will have consistent reward categories while Freedom's categories are rotated out quarterly. Check the previous quarterly categories to see if Freedom will work with your spend otherwise you may be better off getting the CR. Also to take into consideration is the CLIs, BofA went SP for all requests while Chase is HPs if the credit limit initially doesn't work out for you

Re: Chase vs Bank of America

hernaemm90 — Sun, 22 Mar 2020 22:21:40 GMT

@simplynoir wrote:
Then assuming your scores are good then it comes down to the little things because I think they are more or less equal in terms of getting approvals for.

Thank you

Re: Chase vs Bank of America

AverageJoesCredit — Sun, 22 Mar 2020 22:42:07 GMT

@seattletravels has a point. Both lenders have specific UW for their cards. Besides their own rules for applying like 5/24, and Boa has one i cant quite recall at moment, both can use a variety of other factors when deciding whether or not ti approve someone like your income, any derogs like bk or chargeoffs, even as far back as previous banks they acquired.

Every one is different as is every profile. For instance because i dont have assets or banking relationships with Boa, and my income is, or lol was, low, im relegsted to just 1 card with Boa no matter what. So unless i was under 5/24, perhaps it might be easier to get the Chase card but agsin not gaurenteed. Please remember when asking a comparison question, not every answer will be exact answer you were looking for because in credit there are no exacts, imo. Thanks , stay safe

Re: Chase vs Bank of America

Wavester64 — Sun, 22 Mar 2020 23:23:39 GMT

@simplynoir wrote:
Is 5/24 a factor? Because if it is then the choice is already taken out of your hands

^^ What @simplynoir said

Re: Chase vs Bank of America

wasCB14 — Mon, 23 Mar 2020 00:10:30 GMT

My first and most recent cards...

Freedom #1 in Nov 2013 with checking and savings accounts. $600 SL. No prior credit history except for a fruitless inquiry.

Cash Rewards (WWF Visa for Costco) days ago with Platinum Honors. $21,000 SL.

I think the deposit account helped a lot with Freedom. A toy CL, but great rewards for a starter card.

Re: Chase vs Bank of America

Remedios — Mon, 23 Mar 2020 00:11:33 GMT

@seattletravels wrote:
@hernaemm90 wrote:
Hello everyone,

I'm getting ready to apply for my next credit card, the next two on my list is the Chase Freedom and the Bank of America Cash Rewards.

My question is, which of these two cards is easier to get approved for?
Neither is "easy". If you want our opinion on if you are likely to be approved for one or the other, please provide your DP and we'll kindly oblige. Need score, inquiries, individual account age and util%, etc.

Yup, this.

Without more info from you, answers are really just a matter of personal preferences

For instance, neither one is fond of recent derogs

One won't approve with BK, no matter how old.

With one, even being 2/24 means nothing of those two are recent.

There are very good reasons why these questions are asked, mostly centered around helping you better by providing more personalized answers.