BOA or WF??? Inquiries/new accounts sensitive????

[Tcoward84]

Mornin' y'all! 

I plan to apply for either the BOA Bankamericard or the Wells Fargo Reflect. Out of these two issuers, which is more sensitive to inquiries and new accounts? Also, are they sensitive to consumer finance accounts? My credit file is pretty good with the exception of it being fairly young...also have inquiries and new accounts. Which card do I have a better shot at getting approved for? 

Scores: FICO8 EQ 721 EX 725 TU 740

Inquiries: EQ 2/6 2/12  EX 0/6 2/12  TU 1/6 2/12

New accounts: EQ 3/6 5/12 EX 2/6 3/12 TU 2/6 4/12

Util: 9%

[ccquest]

Do you already have a checking account with either of them? I've heard both are relationship banks in the past.

When I got my Propel, I put that as one of my first apps though so they're pretty sensitive iirc.

[Tcoward84]

Forgot to add that I have NO relationship with either bank :/

[CYBERSAM]

BOA is easier to get in compare to WF, also easier to grow given they use SP for CLI. However if you planning to get both, then try WF 1st because they are inq, new account sensitive.

[M_Smart007]

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@CYBERSAM wrote:

BOA is easier to get in compare to WF, also easier to grow given they use SP for CLI. However if you planning to get both, then try WF 1st because they are inq, new account sensitive.

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@CYBERSAM, I'll be a DP.

BoA started as CR in 2018 @ $8000 ..got one measly $2K SP CLI.

after CLI, opened a Savings & Merrill Acct.  It has all been 'NO SOUP FOR YOU" (I since have closed both sav. & Merrill)

Don't like Merrill's platform, compared to Schwab  ..absolutely hate the long lines at BoA. (just YUK)

WF - Propel and Cash Wise that I PC'd twice -> active cash-> Autograph. Last Propel CLI [here] Prior CLI's [here]

WF Checking and Savings with less than $700 combined for last year. before that $100 combined for 6(ish) years.

So WF has been far more generous than BoA. but as Remedios would point out,

Imma not very good gardener and have opened tons of accounts. + Epic # of inquiries

So BoA hates my Inquiries/New accts. more than WF.

Also to note; I have maxed the BoA card a few times and PIF.

Propel and 2nd WF card(s), seen very low spend in comparison.

I know it is a very much YMMV ..per an  individuals profile.

I am not going to cater funds to a Bank, in hopes to get CLI's.

The excuses get old, and just move on to greener CU pastures.

[coldfusion]

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@Tcoward84 wrote:

Forgot to add that I have NO relationship with either bank :/

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If you've added more than 2 accounts in the last 12 months odds of success with BoA will be slim.  You aren't an existing client so you fall under their 3/12 rule.

WF can be somewhat more lenient but they can also be pretty sensitive to the number of recent accounts when an applicant is not a current client.

[spiritcraft1]

Take all this with a grain of salt but...

I was approved at BofA yeasterday for a Biz card being at 3/12 with no current BofA account (do have a pretty much dormant Merrill acct) 790 TU Fico

The DW was "prequalified" at WF for a Autograph card and was denied instantly without a pull being 0/12 but with no WF banking account or history.

She was approved yesterday for a $28k BofA Customized Cash card being 0/12 5/24 with a 816 TU

Can you open a savings account with either for $100 and see if they offer anything?  Just a thought ,but what is a measly INQ anyway?

[coreyb80]

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@M_Smart007 wrote:

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@CYBERSAM wrote:

BOA is easier to get in compare to WF, also easier to grow given they use SP for CLI. However if you planning to get both, then try WF 1st because they are inq, new account sensitive.

---

@CYBERSAM, I'll be a DP.

BoA started as CR in 2018 @ $8000 ..got one measly $2K SP CLI.

after CLI, opened a Savings & Merrill Acct.  It has all been 'NO SOUP FOR YOU" (I since have closed both sav. & Merrill)

Don't like Merrill's platform, compared to Schwab  ..absolutely hate the long lines at BoA. (just YUK)

WF - Propel and Cash Wise that I PC'd twice -> active cash-> Autograph. Last Propel CLI [here] Prior CLI's [here]

WF Checking and Savings with less than $700 combined for last year. before that $100 combined for 6(ish) years.

So WF has been far more generous than BoA. but as Remedios would point out,

Imma not very good gardener and have opened tons of accounts. + Epic # of inquiries

So BoA hates my Inquiries/New accts. more than WF.

Also to note; I have maxed the BoA card a few times and PIF.

Propel and 2nd WF card(s), seen very low spend in comparison.

I know it is a very much YMMV ..per an  individuals profile.

I am not going to cater funds to a Bank, in hopes to get CLI's.

The excuses get old, and just move on to greener CU pastures.

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Thank you for posting this as I needed to hear/see it.  Much appreciated!

[Anonymous]

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@Tcoward84 wrote:

Mornin' y'all! 

I plan to apply for either the BOA Bankamericard or the Wells Fargo Reflect. Out of these two issuers, which is more sensitive to inquiries and new accounts? Also, are they sensitive to consumer finance accounts? My credit file is pretty good with the exception of it being fairly young...also have inquiries and new accounts. Which card do I have a better shot at getting approved for? 

Scores: FICO8 EQ 721 EX 725 TU 740

Inquiries: EQ 2/6 2/12  EX 0/6 2/12  TU 1/6 2/12

New accounts: EQ 3/6 5/12 EX 2/6 3/12 TU 2/6 4/12

Util: 9%

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You have similar scores as mine but fewer inquiries and higher util. How's your AOOA and AAOA? Thx for posting! I'm apping for Bilt next wk when I become 3/12 in new accts and but high ex inqs(10/12 after some wear off by then) could be my bane..haven't apped in 8 months. But what is one more hq lol

[Tcoward84]

AAOA 2 yo

AOOA 4 y 2mo 

Good luck on your BILT app next week!