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Bank of the West PreApproval Mailer

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DaisyAdair
Valued Member

Bank of the West PreApproval Mailer

I haven't seen much on Bank of the West/BNP Paribas, so thought I'd add my experience. 

I received a "you're preapproved" mailer with a reference to the offer being available to a "select group" of residents in my state. There are a couple dozen branches in my state according to the google machine, so it doesn't seem to be market expansion exercise or anything. Anyway...

 

It's a platinum MC w/ no annual fee and an 18-month intro rate of 0%. No other valuable features to speak of. I figured I'd go for it, as the 0% would be useful on a new card vs increasing utilization on existing cards via those BT offers. 

Applying online w/ the invitation code got me a 7-10 day message. We'll see what happens. 

For reference: FICO 9s are 772-791; overall utilitization of 17%; new car lease and 2 new cards (Apple and AmEx Gold) in last 9 months; income in low 6 figures. 

I'll update when I get an answer. I've read this may be a soft pull process. Hope that's the case, especially if they decline me! Smiley Tongue

Message 1 of 21
20 REPLIES 20
M_Smart007
Legendary Contributor

Re: Bank of the West PreApproval Mailer


@DaisyAdair wrote:

I haven't seen much on Bank of the West/BNP Paribas, so thought I'd add my experience. 

I received a "you're preapproved" mailer with a reference to the offer being available to a "select group" of residents in my state. There are a couple dozen branches in my state according to the google machine, so it doesn't seem to be market expansion exercise or anything. Anyway...

 

It's a platinum MC w/ no annual fee and an 18-month intro rate of 0%. No other valuable features to speak of. I figured I'd go for it, as the 0% would be useful on a new card vs increasing utilization on existing cards via those BT offers. 

Applying online w/ the invitation code got me a 7-10 day message. We'll see what happens. 

For reference: FICO 9s are 772-791; overall utilitization of 17%; new car lease and 2 new cards (Apple and AmEx Gold) in last 9 months; income in low 6 figures. 

I'll update when I get an answer. I've read this may be a soft pull process. Hope that's the case, especially if they decline me! Smiley Tongue


 Hi @DaisyAdair ,

Bank of the West/BNP Paribas "you're preapproved" mailers are pretty solid...IMO ,

as long as your profile has not drastically changed?  ...since they pre-screened you.

 

They will almost always go to manual UW. Very rare to get an instant approval.

I have a  Bank of the West/BNP Paribas  Cash Back WMC, have had it many years!

I have a very long history with BoTW, as they held a 2nd Mortgage on my house back in the late 1980's.

 

You will most likely be approved with only a "SP" (They use TU EX ). <- edited

With your score and Income, I would say that;

You are likely to be approved, and get a decent starting credit  limit.

 

Good Luck & keep us posted on your outcome.

Message 2 of 21
Dave4fun
Regular Contributor

Re: Bank of the West PreApproval Mailer

I found this very interesting, considering BoW is being acquired by BMO Harris. Supposedly, it is to complete by end of year. Perhaps, BoW beefing up their existing credit card portfolio before everything goes through.  ???  Hmmm, I just don't know. Like I said interesting! I have had 2 BoW Cashback cards for over 2 years now. Yep, both were SP approvals. 

FICO 8 EQ: 841, TU: 837, EX: 842 Total Rev CL: $547,000 - CHASE/CITIBANK/DISCOVER/ USBANK/AMEX/COMENITY AMEX /BMO/NORDSTROM/MACYS/FNBO/ JCPENNY/TARGET/CHEVRON/1ST UNITED CU/PATELCO CU/SYNCHRONY/ VENMO VISA Sig/ DILLARDS AMEX/ PENFED PLAT REWARDS/PENFED PLOC/WELLS FARGO. AAoA 13 years
Message 3 of 21
DaisyAdair
Valued Member

Re: Bank of the West PreApproval Mailer


@M_Smart007 wrote:

@DaisyAdair wrote:

I haven't seen much on Bank of the West/BNP Paribas, so thought I'd add my experience. 

I received a "you're preapproved" mailer with a reference to the offer being available to a "select group" of residents in my state. There are a couple dozen branches in my state according to the google machine, so it doesn't seem to be market expansion exercise or anything. Anyway...

 

It's a platinum MC w/ no annual fee and an 18-month intro rate of 0%. No other valuable features to speak of. I figured I'd go for it, as the 0% would be useful on a new card vs increasing utilization on existing cards via those BT offers. 

Applying online w/ the invitation code got me a 7-10 day message. We'll see what happens. 

For reference: FICO 9s are 772-791; overall utilitization of 17%; new car lease and 2 new cards (Apple and AmEx Gold) in last 9 months; income in low 6 figures. 

I'll update when I get an answer. I've read this may be a soft pull process. Hope that's the case, especially if they decline me! Smiley Tongue


 Hi @DaisyAdair ,

Bank of the West/BNP Paribas "you're preapproved" mailers are pretty solid...IMO ,

as long as your profile has not drastically changed?  ...since they pre-screened you.

 

They will almost always go to manual UW. Very rare to get an instant approval.

I have a  Bank of the West/BNP Paribas  Cash Back WMC, have had it many years!

I have a very long history with BoTW, as they held a 2nd Mortgage on my house back in the late 1980's.

 

You will most likely be approved with only a "SP" (They use TU).

With your score and Income, I would say that;

You are likely to be approved, and get a decent starting credit  limit.

 

Good Luck & keep us posted on your outcome.


Thanks, @M_Smart007 ! My profile's not changed much in the past several months; if anything, it's incrementally improving each month. No big swings, though. 

Good to know about the typical underwriting practices. They seem rather conservative compared to many. Interesting. 

I'll keep everyone posted. 

Message 4 of 21
DaisyAdair
Valued Member

Re: Bank of the West PreApproval Mailer


@Dave4fun wrote:

I found this very interesting, considering BoW is being acquired by BMO Harris. Supposedly, it is to complete by end of year. Perhaps, BoW beefing up their existing credit card portfolio before everything goes through.  ???  Hmmm, I just don't know. Like I said interesting! I have had 2 BoW Cashback cards for over 2 years now. Yep, both were SP approvals. 


Hi, @Dave4fun - now that you mention it, I did read something about the BMO Harris deal. You could be right about fleshing out the existing book of business. Thanks for confirming the soft pull. Always a plus! 

Message 5 of 21
coldfusion
Community Leader
Mega Contributor

Re: Bank of the West PreApproval Mailer


@DaisyAdair wrote:

@Dave4fun wrote:

I found this very interesting, considering BoW is being acquired by BMO Harris. Supposedly, it is to complete by end of year. Perhaps, BoW beefing up their existing credit card portfolio before everything goes through.  ???  Hmmm, I just don't know. Like I said interesting! I have had 2 BoW Cashback cards for over 2 years now. Yep, both were SP approvals. 


Hi, @Dave4fun - now that you mention it, I did read something about the BMO Harris deal. You could be right about fleshing out the existing book of business. Thanks for confirming the soft pull. Always a plus! 


BoTW is awaiting regulatory approval to be acquired by the Bank of Montreal and that approval is what is hoped to be accomplished by the end of 2022.    If approval is given BoTW will be absorbed by BMO Harris. 

 

(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 6 of 21
Jeffster1
Valued Contributor

Re: Bank of the West PreApproval Mailer

I wonder if BoTW is inquiry-sensitive. I already have a BMO Harris Cashback MC, but I've always wondered about BoTW. 

FICO 8 (3/1/24) EX 805 EQ 824 TU 844
FICO 9 (2/17/24) EX 821 EQ 778TU 850
I practice AZEO - NEVER above 1% utilization across all cards.

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 15K I Citi Best Buy Visa 10K I Macy’s Amex 1.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I
Message 7 of 21
LADave
Established Contributor

Re: Bank of the West PreApproval Mailer


@coldfusion wrote:

@DaisyAdair wrote:

@Dave4fun wrote:

I found this very interesting, considering BoW is being acquired by BMO Harris. Supposedly, it is to complete by end of year. Perhaps, BoW beefing up their existing credit card portfolio before everything goes through.  ???  Hmmm, I just don't know. Like I said interesting! I have had 2 BoW Cashback cards for over 2 years now. Yep, both were SP approvals. 


Hi, @Dave4fun - now that you mention it, I did read something about the BMO Harris deal. You could be right about fleshing out the existing book of business. Thanks for confirming the soft pull. Always a plus! 


BoTW is awaiting regulatory approval to be acquired by the Bank of Montreal and that approval is what is hoped to be accomplished by the end of 2022.    If approval is given BoTW will be absorbed by BMO Harris. 

 


I got the same mailer that @DaisyAdair got. If I was in the market for a 0% interest card I'd probably find this very tempting. As of right now, it's just mildly interesting. If they gave me a pre-approval for their Cash Back card I'd find that a lot more compelling, since it gets 3% cash back on groceries (I have the WF Autograph to fill in the other 3% categories).

Message 8 of 21
DaisyAdair
Valued Member

Re: Bank of the West PreApproval Mailer

Update: Declined.

 

I received some mail correspondence from Bank of the West yesterday. I had been checking my email since the application date, and they never sent any acknowledgment of application or status, so I was actually thinking maybe the app went into the great beyond. 

The declination reason was 'excessive obligations relative to income' or something similar. That was the only reason listed. They pulled Experian, and it seems it was a soft pull. 

I'm not sure when they looked at my file to generate the pre-approval, but nothing has changed this year except a new auto lease and 2 new cards which don't carry a balance. And the lease started in March. 

Does this indicate they're pre-approving based on score only and then running their internal DTI tolerance math upon application? 

I can't see receiving a mailer in September for a determination that was generated before March. I guess it's possible, though. 

Hope this is helpful to others! 

Message 9 of 21
Jeffster1
Valued Contributor

Re: Bank of the West PreApproval Mailer

On the banking side, I found BoTW a little disorganized and hit-or-miss on communications. I applied for checking and savings accounts online in the spring of 2021. Following up, I spent a total of two hours trying to get through to them to set up my account and verify opening. On the final call, I told them to just close fhe accounts and give me my $1000 total back. I had to make 2 calls to get the money sent back. 

I was interested to see how their credit cards were (ie whether conservative or generous, and whether inquiry-sensitive) but this post confirms that their processes on the credit card side seem to be no better.

 

I have a BMO Harris Cashback MC with a SL of $12,000. I think BMO Harris has some work to do with BoTW when they take over. My great experience wifh BMO Harris stands in contrast to what I've experienced, and now read, about BoTW.

 

So sorry, @DaisyAdair , but there are better cards out there for you.

FICO 8 (3/1/24) EX 805 EQ 824 TU 844
FICO 9 (2/17/24) EX 821 EQ 778TU 850
I practice AZEO - NEVER above 1% utilization across all cards.

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 15K I Citi Best Buy Visa 10K I Macy’s Amex 1.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I
Message 10 of 21
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