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BOA prequalify unreliable

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SUPERSQUID
Valued Contributor

BOA prequalify unreliable

Last night for the heck of it i went on the BOA prequal page. it said i qualified for one of their unsecured rewards cards so i followed through with the app.

The wheel of death kept spinning and didnt stop in my favor.

Now i have an extra wonderful hp on my experian for no gain.

{ BK7 DC 12/2019 } target 1600/ kohls Visa 7000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 / firestone 2800 /legacy 3000 /first savings bank cc 3000/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4k, Penfed PCR signature visa 10k/ penfed gold 7.5k NFCU >signature visa cash rewards 21700/bread cashback amex 8000

>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 40k
Total utilization around 20 pct depending on my current usage/needs
Ficos in the 680 - 690 range, the 9's slightly higher than the 8's
My vantage scores 708 - 711
TCL - about 110k
Retired since 2017
Message 1 of 18
17 REPLIES 17
M_Smart007
Legendary Contributor

Re: BOA prequalify unreliable

@SUPERSQUID, Sorry for your denialSmiley Sad,
BOA prequal page is notoriously whacked.

Even My Dog pequals everytime!! Smiley Tongue

Message 2 of 18
SUPERSQUID
Valued Contributor

Re: BOA prequalify unreliable


@M_Smart007 wrote:

@SUPERSQUID, Sorry for your denialSmiley Sad,
BOA prequal page is notoriously whacked.

Even My Dog pequals everytime!! Smiley Tongue


I bet your dog is good at requesting cli's 

{ BK7 DC 12/2019 } target 1600/ kohls Visa 7000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 / firestone 2800 /legacy 3000 /first savings bank cc 3000/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4k, Penfed PCR signature visa 10k/ penfed gold 7.5k NFCU >signature visa cash rewards 21700/bread cashback amex 8000

>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 40k
Total utilization around 20 pct depending on my current usage/needs
Ficos in the 680 - 690 range, the 9's slightly higher than the 8's
My vantage scores 708 - 711
TCL - about 110k
Retired since 2017
Message 3 of 18
Ilinferno
Established Contributor

Re: BOA prequalify unreliable

Sorry for your denial and thank you for your HP sacrifice.

Message 4 of 18
coldfusion
Community Leader
Mega Contributor

Re: BOA prequalify unreliable

Unfortunately this issue comes up fairly regularly here.    BoA's online "customized offers" is at its core a marketing tool intended to suggest which of their cards you might be most interested in and absolutely not a way to assess your odds of approval.  

 

Similarly, their mailed and emailed offers to apply are only that, even if they have a personalized code - the code itself is a marketing tool that helps the bank track how successful the campaign is - and should not be viewed as a pre-qual or pre-approval.

 

Sorry this happened to you. Smiley Sad

 

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 5 of 18
FinStar
Moderator Emeritus

Re: BOA prequalify unreliable

OP - as mentioned above, that portion of the BoA website is not a pre-qualify portal (never has been), it only provides customized [suggested] offers based on pre-liminary data about the information you provided. So, yes even a poodle (or any pet) can also have the same results.

 

Was BoA (or any of its subsidiaries FUNB, MBNA/FIA, NationsBank, etc.) IIB?

Message 6 of 18
Kasuito39
Frequent Contributor

Re: BOA prequalify unreliable

Thanks for the data point.

I've been banking with BOA for over 15 years and never had any of their credit products. Today, I logged in to find cash rewards pre-approval with the amount $500 credit limit indicated. They denied me 12months ago via preapproval so i'm not sure whether I should move forward or wait due to recent cli spree (hp) and Personal loans. I'm also contemplating the going for the business card for my 4yr LLC. 

 

Message 7 of 18
coldfusion
Community Leader
Mega Contributor

Re: BOA prequalify unreliable

If the preapproval was made via the Special Offers section of the Activity Center than yes it is a valid preapproval, BUT if this recent CLI spree was accomplished within the last 2-3 months your odds of an actual approval may be diminished.  That preapproval was made based upon the state of your credit profile at some point in the recent past but there's no way of knowing for certain at what point in time it was looked at. It could have been before, or after, your recent CLI spree.

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 8 of 18
SoCalGardener
Valued Contributor

Re: BOA prequalify unreliable


@coldfusion wrote:

If the preapproval was made via the Special Offers section of the Activity Center than yes it is a valid preapproval, BUT if this recent CLI spree was accomplished within the last 2-3 months your odds of an actual approval may be diminished.  That preapproval was made based upon the state of your credit profile at some point in the recent past but there's no way of knowing for certain at what point in time it was looked at. It could have been before, or after, your recent CLI spree.


I've noticed you saying that before, and you know what? After 30+ years with BofA, I NEVER KNEW THAT!!  Not until I saw your posts. I've been passing up offers left and right for decades, not knowing that anything in my "Special Offers" was good to go! Smiley Very Happy

 

I love how I'm always learning something new here.

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Message 9 of 18
Trini88
Established Contributor

Re: BOA prequalify unreliable


@SoCalGardener wrote:

@coldfusion wrote:

If the preapproval was made via the Special Offers section of the Activity Center than yes it is a valid preapproval, BUT if this recent CLI spree was accomplished within the last 2-3 months your odds of an actual approval may be diminished.  That preapproval was made based upon the state of your credit profile at some point in the recent past but there's no way of knowing for certain at what point in time it was looked at. It could have been before, or after, your recent CLI spree.


I've noticed you saying that before, and you know what? After 30+ years with BofA, I NEVER KNEW THAT!!  Not until I saw your posts. I've been passing up offers left and right for decades, not knowing that anything in my "Special Offers" was good to go! Smiley Very Happy

 

I love how I'm always learning something new here.


I just checked BOA as well. Had no clue there was a Special Offers tab 😑



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Message 10 of 18
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