topic Re: Thoughts on BoA Accelerated Amex in Credit Cards

Thoughts on BoA Accelerated Amex

drsmith — Sun, 24 Apr 2011 22:29:36 GMT

I take a lot of these cards from people and it's caught my eye. I haven't checked my fico in a few month but last I checked it was between 720-730

I currently have 2 credit cards, USAA MC with a 7k cl and a Capital one platinum with a $750 limit that they refuse to increase. My current util is under 15% and I don't have anything negative on my report. I'm open to suggestions for other cards though, my heart isn't set on anything. I just have been bitten by the application bug

Re: Thoughts on BoA Accelerated Amex

DI — Sun, 24 Apr 2011 22:33:34 GMT

@drsmith wrote:
I take a lot of these cards from people and it's caught my eye. I haven't checked my fico in a few month but last I checked it was between 720-730

I currently have 2 credit cards, USAA MC with a 7k cl and a Capital one platinum with a $750 limit that they refuse to increase. My current util is under 15% and I don't have anything negative on my report. I'm open to suggestions for other cards though, my heart isn't set on anything. I just have been bitten by the application bug

I PC'd to the card a month ago, but I have yet to use it. One can accumulate alot of points quicky if they make it their main cards. I won't be using the card until May. My reason for getting the card is because I had one of those Visa Signature cards that doesn't report the credit line.

Re: Thoughts on BoA Accelerated Amex

drsmith — Sun, 24 Apr 2011 22:35:52 GMT

Forgot to add that the USAA is a fairly recent acquisition in the credit world. I've only had it since late November. Maybe it's best if I hold off on another application

It's the only card I've applied for in years though

Re: Thoughts on BoA Accelerated Amex

DI — Sun, 24 Apr 2011 22:41:38 GMT

@drsmith wrote:
Forgot to add that the USAA is a fairly recent acquisition in the credit world. I've only had it since late November. Maybe it's best if I hold off on another application

It's the only card I've applied for in years though

I have a total of 9 active cards and about 5 cards that I closed for various reasons. If you've only applied for one card in years, I think you're in good shape.

Re: Thoughts on BoA Accelerated Amex

tntexans72 — Sun, 24 Apr 2011 22:54:17 GMT

@drsmith wrote:
Forgot to add that the USAA is a fairly recent acquisition in the credit world. I've only had it since late November. Maybe it's best if I hold off on another application

It's the only card I've applied for in years though

First of all, have you had any inquiries on your report in the last 6 months? If you had more than 3 on each report in the past 6 months, I would stop apping for now. If you have 1-2 inquiries on your report and no baddies in the past 6 months, than I would try to get one more card.

Check to see which CB USAA pulled (Ex, Eq, Tu). I would than search for Rewards CC that will pull a different CB to one doesn't take multiple hits of a hard inquiry. You can read on this forum and search. You'll than have a better idea which bank pulls what CB. For example, if you want a reward card from Barclays, they generally pull TU and if you have no inquiry on TU, your more than likely will be approved, etc.....Good luck.

Re: Thoughts on BoA Accelerated Amex

drsmith — Sun, 24 Apr 2011 23:19:58 GMT

The only inquiry in the past 6 months is the USAA card

I have never had baddies on my credit report

Re: Thoughts on BoA Accelerated Amex

drsmith — Sun, 24 Apr 2011 23:29:32 GMT

Got the 30 day written response message

lame

Re: Thoughts on BoA Accelerated Amex

breakthecycle — Mon, 25 Apr 2011 01:05:14 GMT

Try the backdoor number, or ask to speak to a credit analyst and see what happens.

Re: Thoughts on BoA Accelerated Amex

jefftca925 — Mon, 25 Apr 2011 03:09:48 GMT

BofA is usually pretty good with recons. There is also an application status link on their credit card page that you can check on. Good luck!!

Re: Thoughts on BoA Accelerated Amex

haulingthescoreup — Mon, 25 Apr 2011 04:23:38 GMT

@drsmith wrote:
Got the 30 day written response message

lame

Did you go without credit for a number of years, and you've only started using revolving credit again this past fall? (I might have misread this; my apologies if I did.)

If so, you might want to build a bit more of a track record with your CC's before applying again. I'd wait until you have 12 months of current history reporting.

Re: Thoughts on BoA Accelerated Amex

drsmith — Mon, 25 Apr 2011 04:28:26 GMT

I'm 22

got my capital one card at 18 and I've used that until this pat fall when I got the USAA card.

Re: Thoughts on BoA Accelerated Amex

haulingthescoreup — Mon, 25 Apr 2011 04:35:16 GMT

You might have better luck in another month or two when the USAA card has reported for 6 months, but I honestly don't know what banks look for these days. For all I know, they use a magic 8-ball.

I'm guessing that the Accelerated AmEx is one of the tougher BofA cards to get, at least until you have more history under your belt.

I realize that that's the one that caught your attention, but have you checked out the Citi Forward? It's targeted toward college-aged consumers, although I think it's great for anyone who uses their rewards categories (books, movies, music, restaurants.)

Re: Thoughts on BoA Accelerated Amex

drsmith — Mon, 25 Apr 2011 04:38:21 GMT

No I'd rather not use Citi

Not a fan of how they handled their bailout money

Re: Thoughts on BoA Accelerated Amex

haulingthescoreup — Mon, 25 Apr 2011 04:40:07 GMT

@drsmith wrote:
No I'd rather not use Citi

Not a fan of how they handled their bailout money

--although I have a hard time finding pretty much any bank that I feel acted honorably.

Re: Thoughts on BoA Accelerated Amex

drsmith — Mon, 25 Apr 2011 04:41:55 GMT

I hear that

Honestly I don't need another card. My USAA card is great and I have no trouble keeping my utilization below 15%

Like I said I was just bitten by the application bug and I love the way that card looks and it seems to be in line with the things I'd like out of a credit card.

Re: Thoughts on BoA Accelerated Amex

drsmith — Mon, 25 Apr 2011 15:58:08 GMT

Called the backdoor number and spoke to a credit analyst.

Took all of 10 minutes to get approved with a 5k limit. She commented on my very nice history and profile

Awesome

Re: Thoughts on BoA Accelerated Amex

haulingthescoreup — Mon, 25 Apr 2011 20:20:37 GMT

Nicely played!

Re: Thoughts on BoA Accelerated Amex

drsmith — Wed, 27 Apr 2011 08:03:10 GMT

Well I caved in and looked at my fico score

Considering some places list this card as requiring excellent credit, I'm kind of surprised I was approved with a decent limit

Re: Thoughts on BoA Accelerated Amex

Jahmakan — Wed, 27 Apr 2011 09:43:18 GMT

I was approved for the Cash Reward card today too, with the same $5,000 limit. You guys give great advice.

Re: Thoughts on BoA Accelerated Amex

tntexans72 — Wed, 27 Apr 2011 15:01:09 GMT

Is 5k the starting limit for prime cards?

Are there any prime cards with lower limit than 5k?

I noticed capital one stated you have excellent credit if you have a cc with a minimum CL of 5k.

Is that true?