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BOA Cash Rewards PRE-SELECTED Question...

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Frequent Contributor

BOA Cash Rewards PRE-SELECTED Question...

When I have tried to qualify online for BOA Cash Rewards over the last few years, no matching offers.  I just received a "pre-selected" offer from BOA for the Cash Rewards. Any ideas on the reliability or what SL have looked like. My scores are all above 770.

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Established Contributor

Re: BOA Cash Rewards PRE-SELECTED Question...

Pre-selected sounds like marketing.

 

Your scores seem fine to me, but I don't know your other history. I'm sure someone else will chime in.


Message 2 of 6
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Community Leader
Super Contributor

Re: BOA Cash Rewards PRE-SELECTED Question...

If the offer wasn't extended through the online Activity Center it isn't a preapproval. 



(10/2020)
FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

$1M+ club

Artist formerly known as ColdFusion
Message 3 of 6
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Regular Contributor

Re: BOA Cash Rewards PRE-SELECTED Question...

Pre-selected is code for "We paid the CRA to give USA list of names/addresses to people who might want our product". If the letter does not have the Opt-Out language, then it is not a pre-approval and has zero reflection on your odds of approval. 



Message 4 of 6
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Community Leader
Super Contributor

Re: BOA Cash Rewards PRE-SELECTED Question...


@RootDet wrote:

Pre-selected is code for "We paid the CRA to give USA list of names/addresses to people who might want our product". If the letter does not have the Opt-Out language, then it is not a pre-approval and has zero reflection on your odds of approval. 


BoA is a funny bird when it comes to offers to apply vs preselections vs preapprovals.  By definition offers they make via USPS aren't preapprovals regardless of whether or not they include opt-out language. 

 

 

 



(10/2020)
FICO 8 (EX) 810 (TU) 805 (EQ) 794
FICO 9 (EX) 835 (TU) 822 (EQ) 828

$1M+ club

Artist formerly known as ColdFusion
Message 5 of 6
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Established Contributor

Re: BOA Cash Rewards PRE-SELECTED Question...


@RickNATL wrote:

When I have tried to qualify online for BOA Cash Rewards over the last few years, no matching offers.  I just received a "pre-selected" offer from BOA for the Cash Rewards. Any ideas on the reliability or what SL have looked like. My scores are all above 770.


I would look at the letter mom got one in the mail the other day said preselected but had a solid APR of 15.99%.

Message 6 of 6
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