@comebackkid15 What does your current profile consistent of ? And the link that was attached is not a good DP. There are many many approvals without having a 750 score with BOA. Relationship does help win them over but if you gave us some insight on to what is on your profile it would better help? What made you pick BOA over Chase Discover Cap One etc.
@comebackkid15 wrote:Was thinking of apping for the CCR card to upgrade my OpenSky Visa and to come close to a Costco Visa card..lol
Question is, what is the minimum DP that works with them? If I had to, I'd go with the secured version of the card nut if I can get the unsecured that's even better.
Plus I have no prior history with BoA which could be a factor?
BofA can be a little 'hard to figure'
The difficulty determining a specific set of DPs is that BofA is a 'relationship bank'. They approve people who do not have deposit accounts but the approval standards are much higher in that scenario. Either way, the whole credit profile matters, for income they don't expect the moon, just steadiness. A good debt/income ratio is a key factor to be approved for premium rewards type cards. The bank does not allow openinng more than 2 Bank of Amerrica cards/2mo, 3/12mo, or 4/24 month. There are also soft rules regarding new accounts (w/BofA OR any other banks) over a twelve month period, see below...
- No deposit relationship with BofA. In this case approval standards are lofty. Substantially over 690 is probably needed for any consideration, but those scores less than Experian's "very-good to exceptional" credit (740-850) may be wasting a hard pull. With no deposit relationship UW allows no more than 2 new credit lines (of any kind) over the last year.
- Deposit relationship with BofA. UW standards are similar to those of other major bank cards like Chase Freedom or Citibank DC. Hard to say, but if pressed for a number 'a decent shot' starts around 660, better than 50/50 around 690, with a high chance off approval for thoose with 740+ scorees. With a deposit relationship, UW limits are more lax, no more than 6 new credit lines (of any kind) over the last year.
Here's the recipe that worked for me:
There are some stepping stones that you might consider (really don't need more than one, and then patience to build positive history over 6-12 months).
- Discover is open to thin credit files but may require clean recent history.
- Capital One's Platinum Mastercard, or Quicksilver One. Thin files OK, rebuilding credit OK
Open a checking acount with BofA, around the same time as obtaining a DIscover or QS or similar unsecured credit card. BofA offers no-frills checkign for $4.95/mo. (Try to move some moeny through the account, for example, use Bill Pay). If everything is steady on your credit report, eventually you might see a bona-fide pre-screened credit offer, which appears as shown below on the main account page as a "Special Offers and Deals" link (usually such links go to a page that offers several of their cards, including the CCR)
