topic Re: Bank of America Credit Cards in Credit Cards

Bank of America Credit Cards

PointsBonus — Sun, 22 Aug 2021 06:02:59 GMT

Looking for some data points on BOA credit cards in general.

Which Fico ?

Banking relationship ?

Score sensitive ?

Inquire sensitive

etc.

Thank You all in advance

Re: Bank of America Credit Cards

coldfusion — Sun, 22 Aug 2021 10:42:11 GMT

Following the order of your questions.

Generally they pull EX FICO 8 for CC but not 100% solid, they SP TU for CLI.

Existing relationship not required for personal CC but having Preferred Rewards status can help especially at CLI time. They have a firm but not immutable rule about denial if an existing client added more than 7 cards in the last 12 months but the threshold is 3 cards if not an existing client (the 3/12 and 7/12 rules).

They are tolerant of a couple of dings in ones profile but aren't afraid to counteroffer with a secured card or to deny altogether.

Not inherently sensitive to inquiries but their tolerance depends on your profile and relationship, refer back to comments above about the 3/12 and 7/12 rules and of Preferred Rewards status.

To a certain extent they allow one to PC between cards (barring a recent policy change you can't PC to a Premium Rewards card for example) although ability can be influenced by the current state of ones credit profile as well as the depth of relationship with the bank. PC requests do not incur a HP.

Their online prequalifier and their mailers are marketing tools and should not be viewed as assessments of the probability of approval. They do sometimes extend real preapproval offers but those are individually targeted to existing clients through the online portal.

Not overly generous with starting limits but cards can grow nicely via CLI requests. They have a fairly firm cap of $99.9K CL across all BoA cards but will occasionally override that for an existing high-dollar and/or high spend client with a thick clean profile, we have a few members here that have crossed that threshold.

Forgive me if I made any booboos above as it's early and I haven't had any coffee yet.

Re: Bank of America Credit Cards

Hoben02 — Sun, 22 Aug 2021 12:33:17 GMT

If you are looking for a cashback card for travel it's got to be one of the best becuz the travel category is probably the widest I've received travel credit for things like stubhub, ski lift tickets, ski lockers. And if you have a relationship with them can earn up to 5.25% with their line of custom cash card

Re: Bank of America Credit Cards

Anonymous — Sun, 22 Aug 2021 13:22:55 GMT

The preferred client status spoken about above:

There are 3 levels.
Gold - 3 month average daily balance of $20-50K gets you a 25% rewards booster.

Platinum - $50-100k gets you 50% rewards booster.

Platinum Honors - $100k + gets you 75% rewards booster.

They want you to park a lot of money in accounts. The average balance is calculated between checking, savings, and Merrill accounts. You won't get to qualify for at lowest 3 months as they calculate the 3 month balance.

However, while they may love their banking relationship clients - there is a lot of success amongst those who only have a BofA relationship via Credit Card accounts.

Once you hit the 700+ score, you start to see more love from them via CLI's. While it may not be proven, the stats around here surrounding the theory prove to be in line with those scores. The secured card can be hard to get but they do approve new lines in the mid 600's score range.

As stated above - they'll HP EX 8 for new apps and SP TU for CLI requests. Though that may vary from time to time.

Re: Bank of America Credit Cards

PointsBonus — Sun, 22 Aug 2021 14:43:52 GMT

@coldfusion Great information !! I am glad I waited before pulling the trigger, I am a little pass 3/12 and do not have any relationship with BOA and I would of wasted a Hard Pull.

thank you once again !

Re: Bank of America Credit Cards

pinkandgrey — Sun, 22 Aug 2021 19:10:34 GMT

These stats can vary by person or even state, but in my experience, this seems to be the trend with BofA:

Usually EX

They definitely like a banking relationship

They seem to be quite inquiry-sensitive, but maybe not SO score-sensitive

For me, BofA has always been a bit of a tough nut to crack, but again, that will vary by person.

Good luck!

Re: Bank of America Credit Cards

uoyankee — Sun, 22 Aug 2021 23:12:34 GMT

To add onto some others, the total credit limit available across all cards seems to be similar to chase in my regards, as in half of total stated income.

In my case that includes the 99.9k soft cap but I do have a banking relationship with them too.

Re: Bank of America Credit Cards

Namaste7 — Mon, 23 Aug 2021 14:14:47 GMT

@PointsBonus wrote:
Looking for some data points on BOA credit cards in general.
Which Fico ? --> 2 EX approvals and 1 TU approval
Banking relationship ? --> Yes, I believe there are better outcomes with a banking or investment relationship.
Score sensitive ? --> Yes, I think the approval % is better at 720+ and larger limits at 750+ (assuming high income and low debt to income ratio). If non-banking customer, best to be under 3/24.
Inquire sensitive --> I cannot comment.

Thank You all in advance

Comments 👆

Re: Bank of America Credit Cards

Cred4All — Tue, 24 Aug 2021 15:14:17 GMT

I started with BOA back around 2014, no banking relationship, only the CC. I believe my first card started around $2,500 and grew over the years with much help from this community to $90k. I have no complaints about them, and occasionally they offer a number of 0% APR balance transfers or cash options to me.

Bank of America CC data points please

PointsBonus — Thu, 03 Feb 2022 06:56:39 GMT

Looking for some BOA data points please.

approval - which bureau

5/24

inquire sensitive

Thank you !

Re: Bank of America CC data points please

FinStar — Thu, 03 Feb 2022 09:29:11 GMT

@PointsBonus - it appears you have already created the same topic (see above) and plenty of members of the community have already replied to the same questions.

Re: Bank of America CC data points please

PointsBonus — Thu, 03 Feb 2022 17:47:10 GMT

@FinStar - what would I do without you ?? Thank you. I cannot believe I did that. Sorry to have wasted everyone's time.

Any KLM MasterCard Approvals ?

PointsBonus — Thu, 03 Feb 2022 21:06:44 GMT

Any KLM MasterCard Approvals ? If so data points please.

Re: Any KLM MasterCard Approvals ?

K-in-Boston — Thu, 03 Feb 2022 21:32:04 GMT

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Bank-of-America-AirFrance-KLM-14K-approuved/m-p/6193313

Sole approval I have seen here. Underwriting should be more or less identical to other BoA cards like Travel Rewards. International airline cobranded cards are not wildly popular here. Most of us on the SkyTeam side end up with Delta cards.

FlyingBlue isn't going to be the easiest FF program for most US-based flyers as XP are earned by fare class, whether they are international, and if international the distance flown. You earn 5x as many credits toward FF status on a 30 minute flight from Amsterdam to Brussels as you would spending all day flying from Puerto Rico to Hawaii. "Domestic" when it comes to large countries can be very different than domestic if you are flying from London to Manchester.

If FF status is at play, consider going the Delta Medallion route instead as you will enjoy most of the same benefits on AF/KLM. If a good chunk of your travel is transatlantic, of course, that may be a different story. For points earning, cards in the Amex Membership Rewards, Chase Ultimate Rewards, Citi ThankYou Points, and Marriott Bonvoy family will typically earn points that can be converted to FlyingBlue at a much faster rate than the AF/KLM card.

Re: Any KLM MasterCard Approvals ?

PointsBonus — Thu, 03 Feb 2022 22:18:58 GMT

@K-in-Boston Thank you !. Currently a Platinum Medallion with Delta, I did not know this can help me with KLM. It just seems there flights via "points" is a lot less than Delta. I'll stick to my Delta card. Thank you again.

Re: Any KLM MasterCard Approvals ?

K-in-Boston — Fri, 04 Feb 2022 01:01:19 GMT

@PointsBonus wrote:
@K-in-Boston Thank you !. Currently a Platinum Medallion with Delta, I did not know this can help me with KLM. It just seems there flights via "points" is a lot less than Delta. I'll stick to my Delta card. Thank you again.

Lots of benefits as a PM, including grabbing an upgrade to the equivalent of Comfort+ at booking with KLM. Just make sure your SkyMiles number gets attached during or after booking (FlyingBlue award tickets will have to be after of course).

https://www.delta.com/us/en/skymiles/medallion-program/international-partner-skyteam-benefits

FlyingBlue awards with Air France and KLM are all over the board since they got rid of the award chart a few years ago. There are some absolute gems, and also some real head-scratchers. I remember when dynamic points went live I listed a comparison where it was like 75,000 points to go business class round-trip from Boston to Tel Aviv via JFK, but it was like 85,000 to just take the exact same BOS-JFK and JFK-BOS flights themselves in Main Cabin. 😮