@Anonymous wrote:Looking for current information about Bank of America, specifically the Cash Rewards card. What bureau do they pull? How hard is it to get? How easy is it to redeem rewards, and at what dollar amount can you do this? Any info is appreciated. :-)
BOA typically pulls EX for new applications and TU for credit line increases. They are known to combine pulls for up to 30 days. Google credit pulls database and enter Bank of America and your state to get an idea of who they typically pull, as it can vary by region with some lenders. Usually cards like the Cash Rewards have a baseline of around 700, but there are exceptions that people with lower scores are approved and people with higher (sometimes much higher) scores can be declined. BOA is a bank that looks deeper than your credit score alone. Cash Rewards are super easy to redeem. You can redeem for statement credit or deposit into your checking or savings account (with a 10% bonus, or up to 75% bonus depending on your relationship with BOA, Merrill Lynch and Merriill Edge). Minimum redemption is $25. Also the rewards post as soon as your statement closes, and for sign-up bonuses they email you the day you meet the minimum spend to congratulate you, something I wish more lenders did.
Good to hear. Quick tip with BOA... check their prequalification page to see what comes up for you as an APR on the Cash Rewards card. Compare it to your mailer and apply using whichever one is lower. Sometimes marketing may offer better or worse terms than you'd get with the prequalification page and a cold app (or I guess it would be a warm app in this case).