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BOA Cash Rewards credit card?

recoveringfrombk7
Established Contributor

Re: BOA Cash Rewards credit card?

Ollo only lets you have 1 card. I'm going to cancel mine next January after 18 months of responsible use and hope to get an invite for the 2.5 since it has no AF.

Alliant hit TU and I was at 4. They are conservative/inq sensitive and bk sensitive as per my loan officer. If you're going to app for their top tier card (I was going for their flat 2%), you'll definitely need to be in with them for some amount of banking before you do. I got the distinct impression that when I was declined the only reason they gave it some thought with the BK was because they are my main institution. I told the loan officer it was no problem I realize my inqs are high, but such is the cost of rebuilding and we can talk again in January. He seemed to think we'd be in pretty good shape. Not sure what model they used for TU, but I came in at 725 which is not my Fico8. The official denial was very thorough, and the stated reasons were bk, new accounts, inquiries, short history. Like I said, based on speaking with them seems like the bk by itself will not be the hold up. I plan to be with them a long time, so I'm thinking the 2% in jan 2021 and then good use and eventually the 2.5 down the line. I'm not anxious to get into AF cards just yet anyhow, still planning things out. I just want to be done with Cap One and work towards a strong relationship with my CU.










Desired BK recovery line up complete 7/12/2021. Planning to garden until 8/2023 and potentially try for AMEX.
Message 21 of 25
coldfusion
Community Leader
Super Contributor

Re: BOA Cash Rewards credit card?


@recoveringfrombk7 wrote:
Ollo only lets you have 1 card. I'm going to cancel mine next January after 18 months of responsible use and hope to get an invite for the 2.5 since it has no AF.

Alliant hit TU and I was at 4. They are conservative/inq sensitive and bk sensitive as per my loan officer. If you're going to app for their top tier card (I was going for their flat 2%), you'll definitely need to be in with them for some amount of banking before you do. I got the distinct impression that when I was declined the only reason they gave it some thought with the BK was because they are my main institution. I told the loan officer it was no problem I realize my inqs are high, but such is the cost of rebuilding and we can talk again in January. He seemed to think we'd be in pretty good shape. Not sure what model they used for TU, but I came in at 725 which is not my Fico8. The official denial was very thorough, and the stated reasons were bk, new accounts, inquiries, short history. Like I said, based on speaking with them seems like the bk by itself will not be the hold up. I plan to be with them a long time, so I'm thinking the 2% in jan 2021 and then good use and eventually the 2.5 down the line. I'm not anxious to get into AF cards just yet anyhow, still planning things out. I just want to be done with Cap One and work towards a strong relationship with my CU.

Just to add - Alliant's Visa Signature card I believe still has a mininum SL of $15K.  

 

You're spot-on about them being sensitive to inquiries and being relatively conservative with CL. 



(11/2021)
FICO 8 (EX) 806 (TU) 833 (EQ) 827
FICO 9 (EX) 828 (TU) 841 (EQ) 842

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 22 of 25
recoveringfrombk7
Established Contributor

Re: BOA Cash Rewards credit card?

From a customer service standpoint I've been really pleased with them - kind, helpful, transparent. I'm not too worried about the SL once the conditions are better (bk aged, new accounts aged, inqs gone, auto loan with them) since they can see my deposits etc. That's why I'm going to do the flat 2% first and work my way up. Very happy with them though.










Desired BK recovery line up complete 7/12/2021. Planning to garden until 8/2023 and potentially try for AMEX.
Message 23 of 25
soxfaininfl
Frequent Contributor

Re: BOA Cash Rewards credit card?


@recoveringfrombk7 wrote:
Ollo only lets you have 1 card. I'm going to cancel mine next January after 18 months of responsible use and hope to get an invite for the 2.5 since it has no AF.

Alliant hit TU and I was at 4. They are conservative/inq sensitive and bk sensitive as per my loan officer. If you're going to app for their top tier card (I was going for their flat 2%), you'll definitely need to be in with them for some amount of banking before you do. I got the distinct impression that when I was declined the only reason they gave it some thought with the BK was because they are my main institution. I told the loan officer it was no problem I realize my inqs are high, but such is the cost of rebuilding and we can talk again in January. He seemed to think we'd be in pretty good shape. Not sure what model they used for TU, but I came in at 725 which is not my Fico8. The official denial was very thorough, and the stated reasons were bk, new accounts, inquiries, short history. Like I said, based on speaking with them seems like the bk by itself will not be the hold up. I plan to be with them a long time, so I'm thinking the 2% in jan 2021 and then good use and eventually the 2.5 down the line. I'm not anxious to get into AF cards just yet anyhow, still planning things out. I just want to be done with Cap One and work towards a strong relationship with my CU.

Okay, I didn't know you could only have 1 card with Ollo. I have a 2k limit Ollo. Honestly, if I could get the 2.5% card then I wouldn't need the Alliant card. I can't find the flat 2% card that your referring to?


https://ww2.alliantcreditunion.org/all-products-acq?utm_source=google&utm_campaign=&utm_term=&utm_me...

 

I currently bank with Chase since they have branches near my home. BOA was killing me with fees. I would bank with Alliant, but they aren't in Florida. I would need somewhere to get cash when I need it. 









Message 24 of 25
recoveringfrombk7
Established Contributor

Re: BOA Cash Rewards credit card?


@soxfaininfl wrote:

@recoveringfrombk7 wrote:
Ollo only lets you have 1 card. I'm going to cancel mine next January after 18 months of responsible use and hope to get an invite for the 2.5 since it has no AF.

Alliant hit TU and I was at 4. They are conservative/inq sensitive and bk sensitive as per my loan officer. If you're going to app for their top tier card (I was going for their flat 2%), you'll definitely need to be in with them for some amount of banking before you do. I got the distinct impression that when I was declined the only reason they gave it some thought with the BK was because they are my main institution. I told the loan officer it was no problem I realize my inqs are high, but such is the cost of rebuilding and we can talk again in January. He seemed to think we'd be in pretty good shape. Not sure what model they used for TU, but I came in at 725 which is not my Fico8. The official denial was very thorough, and the stated reasons were bk, new accounts, inquiries, short history. Like I said, based on speaking with them seems like the bk by itself will not be the hold up. I plan to be with them a long time, so I'm thinking the 2% in jan 2021 and then good use and eventually the 2.5 down the line. I'm not anxious to get into AF cards just yet anyhow, still planning things out. I just want to be done with Cap One and work towards a strong relationship with my CU.

Okay, I didn't know you could only have 1 card with Ollo. I have a 2k limit Ollo. Honestly, if I could get the 2.5% card then I wouldn't need the Alliant card. I can't find the flat 2% card that your referring to?


https://ww2.alliantcreditunion.org/all-products-acq?utm_source=google&utm_campaign=&utm_term=&utm_me...

 

I currently bank with Chase since they have branches near my home. BOA was killing me with fees. I would bank with Alliant, but they aren't in Florida. I would need somewhere to get cash when I need it. 


Alliant has a lot of ATMs in network and reimburses $20/month in fees.  There are a bunch in network by me.  You really only need a branch if you need to deposit cash, but not to get it.

 

Alliant 2% Card - https://www.alliantcreditunion.org/bank/visa-platinum-rewards-card

Alliant 2% Card Review - https://www.nerdwallet.com/reviews/credit-cards/alliant-visa-platinum-rewards

 

Yeah I got an initial 2k with Ollo and an auto 200$ CLI at 6 months - I've just been using it for a $30 sub and PIF since it doesn't have rewards.

 

Ollo card I'm referencing - https://www.ollocard.com/Optimum-Card











Desired BK recovery line up complete 7/12/2021. Planning to garden until 8/2023 and potentially try for AMEX.
Message 25 of 25
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