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BofA Biz Cash MC "Offer" - UPDATE: Approved!!

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Valued Contributor

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!


@FinStar wrote:
Congrats on the BoA biz CC approval OP.

The set up kind of reminds me of USB for some of the biz CCs. If you have multiple employees, USB can set up a "central billing account" as the receivable which is linked to the primary and it looks funky as well.

So, interesting DP that they pulled TU for this app. I can't recall what they used last time for mine (Alaska biz), I was thinking EX (too long ago) 😄

The HP on TU was odd. All my previous BofA HP's pulled EX. Could be a regional thing - my EX pulls where when I was living in FL and this is the first app since I moved to SC. 

MAY 19 --- (FICO 8) EQ 764, EX 765, TU 785 --- (FICO 9) EQ 797, EX 798, TU 800
Message 21 of 56
Frequent Contributor

Re: BofA Cash Rewards "Offer"


@CH2022 wrote:

I dont think SBFE matters for Bofa Credit app.

Lot of people i personally know, got approved  for Business Card from Bofa with in 3 month of registering business.

Prior History and Opening account at branch really gives advantage for approval.


My post said they would pull it and they will pull it.

 

Take what you read here with a grain of salt, including my posts.  There are lots of people here posting based upon anecdotal evidence or what they have skimmed on the forums and as always your experience may vary.

Message 22 of 56
Valued Contributor

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!


@credit_is_crack wrote:

My account updated online this monring and it looks funky lol 

 

Looks like there is a CORP account and a regular Business Advantage (with my name attached) as a sub-card on the CORP account. Is that how BofA does that? I see each 'account' has it's own account number. 

 

I wonder if they issue two cards (one under the biz name only, and then one under biz w/my name). We'll see when they arrive or I'll give them a buzz to find out. 

 

Screen Shot 2019-03-08 at 9.50.49 AM.png


Only one card. The CORP account is just for payments and billing purposes. Bank of America is very strange in that regard. We have 2 Business Advantage Cash rewards accounts.








Message 23 of 56
Valued Contributor

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!


@credit_is_crack wrote:

@FinStar wrote:
Congrats on the BoA biz CC approval OP.

The set up kind of reminds me of USB for some of the biz CCs. If you have multiple employees, USB can set up a "central billing account" as the receivable which is linked to the primary and it looks funky as well.

So, interesting DP that they pulled TU for this app. I can't recall what they used last time for mine (Alaska biz), I was thinking EX (too long ago) 😄

The HP on TU was odd. All my previous BofA HP's pulled EX. Could be a regional thing - my EX pulls where when I was living in FL and this is the first app since I moved to SC. 


In Nevada they pulled EX on my friend for both her personal cards and 2nd business card. I'm not sure about the first one though. I'd have to go back and look.








Message 24 of 56
Moderator

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

This is becoming more tempting to try to get it since they are targeting on all their business cards and today now also showing all their personal cards with exception of PCR with set APRs as well, granted the business cards arent set.  I can afford to burn a TU pull as havent had one in last 6 months.  Tempting but wondering if I should apply under sole prop or using my EIN.  Always hate using EIN as business incorporated in another stated and still shows another address why move it?  Since it is all based off personal credit does it really hurt to do Sole Prop?  Just put your name under company name like Citi/Chase/Amex/Barclay's etc?  Right now how cards with Amex Business, Barlcay's business amex I have a mix of sole props and with my EIN and barclay's is sole prop as was just easier.  I just don't feel like being drilled by UW about business for 20 minutes as it is a conulsting business that i don't use to much of to be quite honestly.  I have a fairly high salary for normal job, but nominal business income as not really doing any side work currently as I am simply burnt out with doing my normal job Smiley Happy.  

 

TU is sitting about 790 atm.

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Fifth Third | BB&T | Synovus | Commerce
Message 25 of 56
Moderator Emeritus

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!


@CreditCuriosity wrote:

This is becoming more tempting to try to get it since they are targeting on all their business cards and today now also showing all their personal cards with exception of PCR with set APRs as well, granted the business cards arent set.  I can afford to burn a TU pull as havent had one in last 6 months.  Tempting but wondering if I should apply under sole prop or using my EIN.  Always hate using EIN as business incorporated in another stated and still shows another address why move it?  Since it is all based off personal credit does it really hurt to do Sole Prop?  Just put your name under company name like Citi/Chase/Amex/Barclay's etc?  Right now how cards with Amex Business, Barlcay's business amex I have a mix of sole props and with my EIN and barclay's is sole prop as was just easier.  I just don't feel like being drilled by UW about business for 20 minutes as it is a conulsting business that i don't use to much of to be quite honestly.  I have a fairly high salary for normal job, but nominal business income as not really doing any side work currently as I am simply burnt out with doing my normal job Smiley Happy.  

 

TU is sitting about 790 atm.


 

That's an interesting question.

 

Realistically speaking unless a business card costs them more than a personal card (and BOFA's look basically identical, and other than arguably the CIC Chase's look the same or worse, and Amex's look similar) I'm not sure why any lender would care.

 

I don't know if I'd count on a TU pull personally, I'm pretty sure if I applied for a BOFA business card they're coming for EX; but I'm probably going to be mixing and matching SP vs. EIN over time on some limited bonus chasing without increasing my personal tradeline count, and other than inquiries racking up on my EX file, whatever.

 

My theory anyway, we'll see if it actually works heh.

 

End of the day if you're running a real business and you want the card for that business, apply under the EIN... if you don't care and you have a scratch SP or whatever, applications under the SP just don't matter.  In my case with a scratch SP and probably soonish a real company too, no real reason not to leverage both over time.  Worst case they tell me no, but for example thinking I might as well see if I can get that Marriot Bonvoy card, but longer term chasing the Chase business trifecta on the C-corp side and given I can pretty easily make the bonus on the personal/SP side, I'm thinking of simply applying SP for now as I'm still fairly confident for me the CIP is a better travel card for me C-corp side, then it's just restaurant spend I guess sorting on the CIC.

 

Not sure I think this all will fluctuate over time in terms of rewards and partners but if Amex takes a distaste to me I'll be OK is my thinking, Chase would be a little harder to stomach but I don't think I'm going to have issue with them.

 

Rationally the fallback plan if Chase decides I'm no longer a good customer I need to get over my indignance regarding fee shennigans with BOFA and go back to them and color more neatly within the lines.

 




        
Message 26 of 56
Valued Contributor

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!


@CreditCuriosity wrote:

This is becoming more tempting to try to get it since they are targeting on all their business cards and today now also showing all their personal cards with exception of PCR with set APRs as well, granted the business cards arent set.  I can afford to burn a TU pull as havent had one in last 6 months.  Tempting but wondering if I should apply under sole prop or using my EIN.  Always hate using EIN as business incorporated in another stated and still shows another address why move it?  Since it is all based off personal credit does it really hurt to do Sole Prop?  Just put your name under company name like Citi/Chase/Amex/Barclay's etc?  Right now how cards with Amex Business, Barlcay's business amex I have a mix of sole props and with my EIN and barclay's is sole prop as was just easier.  I just don't feel like being drilled by UW about business for 20 minutes as it is a conulsting business that i don't use to much of to be quite honestly.  I have a fairly high salary for normal job, but nominal business income as not really doing any side work currently as I am simply burnt out with doing my normal job Smiley Happy.  

 

TU is sitting about 790 atm.


If the business isn't something you're planning on launching (as your primary income) then I'd go the SolProp route with BofA, especially if you already have existing products with them. When I first applied last year they were very curious and picky about details on my personal profile so I suspect the more data that is a match, the easier it will be. At 790 I don't see why you'd have an issue other than, (1) you have no business credit profile at all in which they try to counter with their secured version ($1,500 dep), or (2) you're fully maxed on the personal side with BofA. 

 

I have (2) personal cards ($30k and $10k) and can't get another CLI for the life of me, but they seemed ok to open the biz account without stealing from existing lines. Usually their "special offers" page online looks like very generic marketing, but I did notice the day after the approval the "Your business offer" link was entirely gone. I think those are as close as it gets to 'pre-approvals' for BofA biz cards. With your score and profile I'd go for it! 

 

I was approved 3/04 and the card showed up today, exactly 10 days from approval to mailbox. Also finally got to see the APR 14.49% (their range is 13.49% - 23.49%). It's by far the lowest of all my BofA cards Smiley Happy

MAY 19 --- (FICO 8) EQ 764, EX 765, TU 785 --- (FICO 9) EQ 797, EX 798, TU 800
Message 27 of 56
Highlighted
Moderator

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!


@credit_is_crack wrote:

@CreditCuriosity wrote:

This is becoming more tempting to try to get it since they are targeting on all their business cards and today now also showing all their personal cards with exception of PCR with set APRs as well, granted the business cards arent set.  I can afford to burn a TU pull as havent had one in last 6 months.  Tempting but wondering if I should apply under sole prop or using my EIN.  Always hate using EIN as business incorporated in another stated and still shows another address why move it?  Since it is all based off personal credit does it really hurt to do Sole Prop?  Just put your name under company name like Citi/Chase/Amex/Barclay's etc?  Right now how cards with Amex Business, Barlcay's business amex I have a mix of sole props and with my EIN and barclay's is sole prop as was just easier.  I just don't feel like being drilled by UW about business for 20 minutes as it is a conulsting business that i don't use to much of to be quite honestly.  I have a fairly high salary for normal job, but nominal business income as not really doing any side work currently as I am simply burnt out with doing my normal job Smiley Happy.  

 

TU is sitting about 790 atm.


If the business isn't something you're planning on launching (as your primary income) then I'd go the SolProp route with BofA, especially if you already have existing products with them. When I first applied last year they were very curious and picky about details on my personal profile so I suspect the more data that is a match, the easier it will be. At 790 I don't see why you'd have an issue other than, (1) you have no business credit profile at all in which they try to counter with their secured version ($1,500 dep), or (2) you're fully maxed on the personal side with BofA. 

 

I have (2) personal cards ($30k and $10k) and can't get another CLI for the life of me, but they seemed ok to open the biz account without stealing from existing lines. Usually their "special offers" page online looks like very generic marketing, but I did notice the day after the approval the "Your business offer" link was entirely gone. I think those are as close as it gets to 'pre-approvals' for BofA biz cards. With your score and profile I'd go for it! 

 

I was approved 3/04 and the card showed up today, exactly 10 days from approval to mailbox. Also finally got to see the APR 14.49% (their range is 13.49% - 23.49%). It's by far the lowest of all my BofA cards Smiley Happy


 

Thanks for informative post.. Only thing I am worried about is I have 60k on one BofA card already and worried about being capped.. If I applied as a Sole Prop would they auto take from my Personal card if at exposure limit?  If not then would dread the call with UW Smiley Happy...  I think I have a fairly good shot considering I am pre-approved with set apr's on their personal cards and "targeted" on their business cards.  I guess the question is am I bored enough this friday to pull the trigger Smiley Happy

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Fifth Third | BB&T | Synovus | Commerce
Message 28 of 56
Moderator

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

Oh c'mon @CreditCuriosity. It's Friday afternoon, work is probably winding down, you're going to experience a moment of boredom and you've looked at it enough lol. Go for it!😉😁

I am definitely considering it, my offer is for the Travel Rewards biz.

If you pull the trigger let me know which CR they used. I am expecting EX but I read the OP mentioned TU in their case.
Message 29 of 56
Moderator

Re: BofA Biz Cash MC "Offer" - UPDATE: Approved!!

TU btw @FinStar  pull under review yikes..  Not about ready to call UW on this one.  No counter went for the Travel one as well as the was one of my "offers" . Did as Sole Prop.  Was paused for like 70 seconds till review came up unlike @credit_is_crack was like 10 secs.

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Fifth Third | BB&T | Synovus | Commerce
Message 30 of 56