topic Re: Some recent DPs on getting Bank of America Cash Rewards Visa? in Credit Cards

Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 00:19:51 GMT

I see some info listed on Doctor of Credit for BoA CCs, some here, but I wanted to see if any recent DPs (i.e. 2020 or last 6-months) for the Bank of America Cash Rewards Signature Visa?

If you have some, let's hear. Does the 3/12 rule still apply to them for this particular card?

Shame I didn't try for one of their cards when I was with BoA - seems like they are favorable to that from what I read.

When I try their pre-q site, it says "we recommend" this particular card, nothing about being pre-approved however.

I know they supposedly pull TU F8.

What other tidbits?

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

AllZero — Fri, 10 Apr 2020 00:44:29 GMT

Depending on region, they'll pull Experian or Transunion.

Their prequal site is not one at all. As you said, more like a recommendation.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

coldfusion — Fri, 10 Apr 2020 00:44:38 GMT

The 3/12 and 7/12 rules apply across all of their cards. From personal experience the 7/12 rule is not an ironclad one.

BoA pulls EX for new applications, they pull TU for CLI requests which are usually just a SP.

The only true BoA preapprovals are made to existing accountholders via offers in their online account. Nothing via their prequal site is a true preapproval.

They are a relationship bank and value existing accountholders when applying for credit.

Interesting they're back issuing the Cash Rewards cards as Visa.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 00:48:59 GMT

@coldfusion wrote:

The 3/12 and 7/12 rules apply across all of their cards. From personal experience the 7/12 rule is not an ironclad one.

BoA pulls EX for new applications, they pull TU for CLI requests which are usually just a SP.

The only true BoA preapprovals are made to existing accountholders via offers in their online account. Nothing via their prequal site is a true preapproval.

They are a relationship bank and value existing accountholders when applying for credit.

Interesting they're back issuing the Cash Rewards cards as Visa.

Just for clarity, the 3/12 rule (per WalletFlo) is for BOA cards correct? and the 7/12 rule is for ALL open CC accounts?

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Anonymous — Fri, 10 Apr 2020 00:53:49 GMT

Unless you want to add more denials to the belt, I would suggest you garden. I understand the app itch well but denials beget denials. BoA has no problem saying no.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

AllZero — Fri, 10 Apr 2020 01:02:34 GMT

If you haven't done so all ready, as mentioned by coldfusion, they are a relationship bank. Open up a checking about and plant your seedling. Let it grow and build that relationship.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:03:39 GMT

@Anonymous wrote:
Unless you want to add more denials to the belt, I would suggest you garden. I understand the app itch well but denials beget denials. BoA has no problem saying no.

I have been gardening for 24 days, isn't that enough?

Only kidding, I hear ya I hear ya.

What is it about that app itch? Hard to put it in words.

Nothing like clicking "Submit" and then seeing "You're approved"

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:05:25 GMT

@AllZero wrote:
If you haven't done so all ready, as mentioned by coldfusion, they are a relationship bank. Open up a checking about and plant your seedling. Let it grow and build that relationship.

Yeah, I was with them for a long time and just got rid of them last year because of their FEEs.

But at the time, I wasn't into this CC hobby I find myself in now, I should have applied for a card then when I was with them.

Oh well..

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Anonymous — Fri, 10 Apr 2020 01:06:55 GMT

@Wavester64 wrote:
@Anonymous wrote:
Unless you want to add more denials to the belt, I would suggest you garden. I understand the app itch well but denials beget denials. BoA has no problem saying no.
I have been gardening for 24 days, isn't that enough?

Only kidding, I hear ya I hear ya.

What is it about that app itch? Hard to put it in words.

Nothing like clicking "Submit" and then seeing "You're approved"

Yeah but that 7-10 day notice or outright 👎 is a real downer.

I get my app itch out by doing prequals, especially since they always deflate my confidence when I get told no prequal.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:11:14 GMT

@Anonymous wrote:
@Wavester64 wrote:
@Anonymous wrote:
Unless you want to add more denials to the belt, I would suggest you garden. I understand the app itch well but denials beget denials. BoA has no problem saying no.
I have been gardening for 24 days, isn't that enough?

Only kidding, I hear ya I hear ya.

What is it about that app itch? Hard to put it in words.

Nothing like clicking "Submit" and then seeing "You're approved"
Yeah but that 7-10 day notice or outright 👎 is a real downer.

I get my app itch out by doing prequals, especially since they always deflate my confidence when I get told no prequal.

Yeah, lately I can't get no (satisfaction ) from that either. I see the same thing from CHASE everyday, even though I have been with them for decades. And 1-month ago I see all 3 offered to me from BB&T and since then nothing. Depressing.

None of the Pre-q's say yes to you right now either?

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

kdm31091 — Fri, 10 Apr 2020 01:11:42 GMT

I'd rank BoA kind of in the middle. They are not as lax as Amex (who IMO is the easiest to get cards from), but they're not as strict as say, UMB or US Bank. They do seem to prefer a banking or investment relationship, but it's not required.

As for the x/12 rules with BoA I don't know how hardcoded they really are or if they are just guidelines but regardless, they have tightened up their underwriting in general and give plenty of instant denials. So if you're not feeling confident about it, I would just wait, especially since there is really no recon with them anymore (they simply resubmit your app through the system which 99% of the time is going to give the same result).

I believe the 7/12 is supposed to be for any and all cards opened but the 3/12 is strictly for BoA. Again, not sure how tightly these are enforced, but it can't hurt to wait until you're under them.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

AllZero — Fri, 10 Apr 2020 01:18:51 GMT

@Wavester64 wrote:
Yeah, I was with them for a long time and just got rid of them last year because of their FEEs.

Fees can be avoided if you meet the requirement below. ACH can also trigger DD.

Bank of America Advantage Plus Banking®
$12 or $0 monthly fee

We'll waive the monthly maintenance fee each statement cycle that you:

Have at least one qualifying direct deposit of $250+

Maintain a $1,500 minimum daily balance

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:18:53 GMT

@kdm31091 wrote:
I'd rank BoA kind of in the middle. They are not as lax as Amex (who IMO is the easiest to get cards from), but they're not as strict as say, UMB or US Bank. They do seem to prefer a banking or investment relationship, but it's not required.

As for the x/12 rules with BoA I don't know how hardcoded they really are or if they are just guidelines but regardless, they have tightened up their underwriting in general and give plenty of instant denials. So if you're not feeling confident about it, I would just wait, especially since there is really no recon with them anymore (they simply resubmit your app through the system which 99% of the time is going to give the same result).

I believe the 7/12 is supposed to be for any and all cards opened but the 3/12 is strictly for BoA. Again, not sure how tightly these are enforced, but it can't hurt to wait until you're under them.

Thanks for the info. Yeah for the 3/12 I am 0/12, but for the 7/12 rule, I am currently 6/12, with 3 coming off in successive months (June, July & August) if I dont app for anything between now and then

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Anonymous — Fri, 10 Apr 2020 01:21:56 GMT

@Wavester64 wrote:
@Anonymous wrote:
@Wavester64 wrote:
@Anonymous wrote:
Unless you want to add more denials to the belt, I would suggest you garden. I understand the app itch well but denials beget denials. BoA has no problem saying no.
I have been gardening for 24 days, isn't that enough?

Only kidding, I hear ya I hear ya.

What is it about that app itch? Hard to put it in words.

Nothing like clicking "Submit" and then seeing "You're approved"
Yeah but that 7-10 day notice or outright 👎 is a real downer.

I get my app itch out by doing prequals, especially since they always deflate my confidence when I get told no prequal.
Yeah, lately I can't get no (satisfaction ) from that either. I see the same thing from CHASE everyday, even though I have been with them for decades. And 1-month ago I see all 3 offered to me from BB&T and since then nothing. Depressing.

None of the Pre-q's say yes to you right now either?

When I open up Credit Karma:

When I open up Experian:

And I am preapproved for every AMEX card.

No for Capital One, can't have a third Disco, Citi and Chase laugh at the idea, Comenity says yes to IKEA, Denver Credit Union says no, BBVA won't even let me check, I'm out of area for Regions and BBT, and BoA hates me (feeling is mutual).

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:23:37 GMT

@AllZero wrote:
@Wavester64 wrote:
Yeah, I was with them for a long time and just got rid of them last year because of their FEEs.

Fees can be avoided if you meet the requirement below. ACH can also trigger DD.

Bank of America Advantage Plus Banking®
$12 or $0 monthly fee
We'll waive the monthly maintenance fee each statement cycle that you:
Have at least one qualifying direct deposit of $250+
OR
Maintain a $1,500 minimum daily balance

That might be the one I used to have. I was too lazy to change my direct deposit from work (which is with CHASE forever) to do that and got tired of keeping $1500 dead in there (until the DW would use the card and I didn't realize it and would get that darn $12 fee) so I got rid of them altogether. I should have tried for a CC then. Oh well..

Thanks for the info!

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

coldfusion — Fri, 10 Apr 2020 01:23:42 GMT

@Wavester64 wrote:
@coldfusion wrote:

The 3/12 and 7/12 rules apply across all of their cards. From personal experience the 7/12 rule is not an ironclad one.

BoA pulls EX for new applications, they pull TU for CLI requests which are usually just a SP.

The only true BoA preapprovals are made to existing accountholders via offers in their online account. Nothing via their prequal site is a true preapproval.

They are a relationship bank and value existing accountholders when applying for credit.

Interesting they're back issuing the Cash Rewards cards as Visa.
Just for clarity, the 3/12 rule (per WalletFlo) is for BOA cards correct? and the 7/12 rule is for ALL open CC accounts?

No. The 3/12 rule is for applicants that currently have no other relationship with the bank, 7/12 for current accountholders.

In both cases it refers to new accounts at any bank, not just BoA.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

wasCB14 — Fri, 10 Apr 2020 01:24:11 GMT

3/19 approval: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/BofA-WWF-Cash-Rewards/m-p/5957128

15.49% APR. $21k SL. EX pull.

Got my first BofA card in December (PR). Platinum Honors. Under 7/12.

A few online transactions were initially declined but the card has worked smoothly since then.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

coldfusion — Fri, 10 Apr 2020 01:29:20 GMT

@Wavester64 wrote:
@kdm31091 wrote:
I'd rank BoA kind of in the middle. They are not as lax as Amex (who IMO is the easiest to get cards from), but they're not as strict as say, UMB or US Bank. They do seem to prefer a banking or investment relationship, but it's not required.

As for the x/12 rules with BoA I don't know how hardcoded they really are or if they are just guidelines but regardless, they have tightened up their underwriting in general and give plenty of instant denials. So if you're not feeling confident about it, I would just wait, especially since there is really no recon with them anymore (they simply resubmit your app through the system which 99% of the time is going to give the same result).

I believe the 7/12 is supposed to be for any and all cards opened but the 3/12 is strictly for BoA. Again, not sure how tightly these are enforced, but it can't hurt to wait until you're under them.
Thanks for the info. Yeah for the 3/12 I am 0/12, but for the 7/12 rule, I am currently 6/12, with 3 coming off in successive months (June, July & August) if I dont app for anything between now and then

You are 6/12; because you don't currently have any account with the bank the 3/12 rule would apply. I can't speak to how rigidly they enforce 3/12, only that the 7/12 is not absolute.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:30:52 GMT

@Anonymous wrote:
@Wavester64 wrote:
@Anonymous wrote:
@Wavester64 wrote:
@Anonymous wrote:
Unless you want to add more denials to the belt, I would suggest you garden. I understand the app itch well but denials beget denials. BoA has no problem saying no.
I have been gardening for 24 days, isn't that enough?

Only kidding, I hear ya I hear ya.

What is it about that app itch? Hard to put it in words.

Nothing like clicking "Submit" and then seeing "You're approved"
Yeah but that 7-10 day notice or outright 👎 is a real downer.

I get my app itch out by doing prequals, especially since they always deflate my confidence when I get told no prequal.
Yeah, lately I can't get no (satisfaction ) from that either. I see the same thing from CHASE everyday, even though I have been with them for decades. And 1-month ago I see all 3 offered to me from BB&T and since then nothing. Depressing.

None of the Pre-q's say yes to you right now either?
When I open up Credit Karma:

When I open up Experian:

And I am preapproved for every AMEX card.

No for Capital One, can't have a third Disco, Citi and Chase laugh at the idea, Comenity says yes to IKEA, Denver Credit Union says no, BBVA won't even let me check, I'm out of area for Regions and BBT, and BoA hates me (feeling is mutual).

Wow, thanks for sharing! I am the same with some of those offers too, I forgot to mention them, prob because I dont want them (HSBS, Credit One for example). BBVA I got lucky with a mailer, Citi I got denied for the DC card, but I am still within time to recon again since my BK came off since then and they said they would pull from the same CB if I tried again within 90 days (currently 77) but she said it would be another HP and I don't want to waste getting another HP on a card that *technicially* I already get the same benefits from the Amex BBC.

Re: Some recent DPs on getting Bank of America Cash Rewards Visa?

Wavester64 — Fri, 10 Apr 2020 01:35:00 GMT

@coldfusion wrote:
@Wavester64 wrote:
@coldfusion wrote:

The 3/12 and 7/12 rules apply across all of their cards. From personal experience the 7/12 rule is not an ironclad one.

BoA pulls EX for new applications, they pull TU for CLI requests which are usually just a SP.

The only true BoA preapprovals are made to existing accountholders via offers in their online account. Nothing via their prequal site is a true preapproval.

They are a relationship bank and value existing accountholders when applying for credit.

Interesting they're back issuing the Cash Rewards cards as Visa.
Just for clarity, the 3/12 rule (per WalletFlo) is for BOA cards correct? and the 7/12 rule is for ALL open CC accounts?
No. The 3/12 rule is for applicants that currently have no other relationship with the bank, 7/12 for current accountholders.
In both cases it refers to new accounts at any bank, not just BoA.

Eek! Then thanks @coldfusion , you just saved me a HP. I wont be 3/12 compliant then until late August this year. And even then I will be AT 3/12.

Sheesh, why did I have to get into this hobby, All these darn rules!