cancel
Showing results for 
Search instead for 
Did you mean: 

BofA Cash Rewards Special Offer

Highlighted
New Member

BofA Cash Rewards Special Offer

So I login to BofA and a special offer pops up. Cash Rewards

0% Introductory APR for the first 12 Statement Closing Dates following the opening of your account.

After that, your APR will be 13.99% to 23.99%, based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate.

 

this is just an offer and not guaranteed right? I don't want a low limit card

 

EQ/644 TU/660 EQ/715

 

EQ/646 TU/660 EX/715
Delta Miles AMEX-1K, Discover IT - 500, USAA Visa 500
33 REPLIES 33
Highlighted
Moderator

Re: BofA Cash Rewards Special Offer

If BOA is not giving you one APR (i.e. 15.49%), it is marketing.  I have never seen them offer small ranges (like "13.99% to 15.99%") as some other lenders may on a prequalification.  Check the BOA prequalification site to see if anything comes up.  If any of the core products come up with a single APR you are almost certain to be approved for any of the core products, although I would probably rule out Premium Rewards.

 

In your signature, you have two EQ scores, a TU score, and no EX score.  If the 644 is actually your Experian FICO 08 score, I would say an approval is very marginal.  If the 715 is actually your Experian FICO 08 score, I'd say that you have a good shot at acquiring a new Cash Rewards Visa Signature card. Even if you did get a small limit after being approved, Bank of America card can grow HUGE.

Message 2 of 34
Highlighted
Valued Contributor

Re: BofA Cash Rewards Special Offer

If you have a good relationship with BofA, you have a pretty good shot despite this offer being 100% marketing. My Cash Rewards was my first account with them, but my lowest CL. Here's to hoping for a good CLI at the 3 month mark!

Open:
Closed:
TU FICO 8: 741 (6/20) — Ex FICO 8: 730 (6/20) — Opinions are my own and not the views of my employer
Message 3 of 34
Highlighted
Valued Contributor

Re: BofA Cash Rewards Special Offer


@K-in-Boston wrote:

If BOA is not giving you one APR (i.e. 15.49%), it is marketing.  I have never seen them offer small ranges (like "13.99% to 15.99%") as some other lenders may on a prequalification.  Check the BOA prequalification site to see if anything comes up.  If any of the core products come up with a single APR you are almost certain to be approved for any of the core products, although I would probably rule out Premium Rewards.

 

In your signature, you have two EQ scores, a TU score, and no EX score.  If the 644 is actually your Experian FICO 08 score, I would say an approval is very marginal.  If the 715 is actually your Experian FICO 08 score, I'd say that you have a good shot at acquiring a new Cash Rewards Visa Signature card. Even if you did get a small limit after being approved, Bank of America card can grow HUGE.


I've been denied and countered with the rewards secured card before with a 742 Experian 8 (that they pulled). Just a data point for everyone. 

USAA Limitless
NavyFed AMEX
AMEX Blue Business Preferred

DiscoverIT 5%
Empower FCU Platinum
Message 4 of 34
Highlighted
New Member

Re: BofA Cash Rewards Special Offer

Apologies, Equifax is 715. It's taken a year but after the divorce credit scores went into the low 500s. I guess I'll apply and see what happens? I just got a Delta Miles AMEX with 1K, so maybe that's a good indicator?

EQ/646 TU/660 EX/715
Delta Miles AMEX-1K, Discover IT - 500, USAA Visa 500
Message 5 of 34
Highlighted
Valued Contributor

Re: BofA Cash Rewards Special Offer

I've also been denied with a high score. And I was "pre-selected" according to the site. They're sensitive to recent new accounts and inquiries and pre-selected offers really don't mean anything.

I eventually got approved after I let my new accounts age a couple months.
Message 6 of 34
Highlighted
New Member

Re: BofA Cash Rewards Special Offer

Well, I feel certainly fooled. It's 'under review', granted I have a fraud alert since the Equifax breach so maybe that's it? Or that's the nice way to decline lol

3 point ding too

Your FICO Score has decreased by 3 points.

Good news. Even though your FICO Score went down your Credit Rating did not so it should not impact your creditworthiness.

EQ/646 TU/660 EX/715
Delta Miles AMEX-1K, Discover IT - 500, USAA Visa 500
Message 7 of 34
Highlighted
Valued Contributor

Re: BofA Cash Rewards Special Offer

If your Equifax is 646 you have no shot for a Bank of America unsecured card. Bank of America tends to be conservative unless you have a strong relationship with them.

I would even go as far as saying Bank of America is a relationship bank seeing as they have the preferred rewards program and better checking accounts for those with a lot of assets held there.

 

715 on the other hand? You have about a 50/50 shot. It depends on how many "new" accounts you have, how many inquiries you have, and your debt to credit limit ratio. 

USAA Limitless
NavyFed AMEX
AMEX Blue Business Preferred

DiscoverIT 5%
Empower FCU Platinum
Message 8 of 34
Highlighted
Contributor

Re: BofA Cash Rewards Special Offer

I actually applied for the Cash Rewards, and yes you get 1 yr of 0.0 finance , then depending on your profile they will give you interest.  The 150 cashback takes forever for them to give to you once you spent the allocated amount.  

 

Good Luck

| January 2017 American Express Blue $3000 | October 2017 American Express Everyday $2800 | October 2017 American Express Schwab Investor Card $6000 | September 2017 Bank of America Cash Rewards Visa $500 | December 2016 Discover it | $3,000 | September 2017 Paypal MC $700 | September 2017 Nordstrom Store CC $3000 | CreditCare $12000 | December 2017 BBVA Visa $12500 |


EX 688 December 2018
TU 680 December 2018
INQs: 5
Credit Started January 2017


cc
Message 9 of 34
Highlighted
Moderator

Re: BofA Cash Rewards Special Offer

Under review may not necessarily be a decline.  My last two CLIs with them went pending.  If you have a fraud alert on Experian, you will NOT get an instant approval as they're required to verify your identity first.  I would call to speak with them and find out if they need anything from you to process and approve your application.  Where did you get the FICO score notification?

 

EDIT: Just adding on here since other posts came along while I was typing... I've never known BOA to pull EQ (unless by request on recon), so that score shouldn't matter.  Strange to hear a report of the bonus taking a while to post.  My $150 bonus posted the day that the purchase that reached the spending for the bonus posted; I had the $165 (10% relationship bonus) sitting in my checking account like 2 weeks after receiving the card.

Message 10 of 34
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.