NEED HONEST ADVICE!!! BOA Cash Rewards

[Dp23]

Good morning people. I got an offer from BoA for the Unsecured/Secured Cash Rewards card (Not sure if it's secured or unsecured version). I already have the BoA Americard for 2 years & Mercury Mastercard for 5 months. Never been late on either. I know I need a 3rd card to maximize the AZEO method but do I apply now or when my disputes end 1/11/20? I'm disputing a 30 day late payment from my finance company which dropped my scores 60 points (640 to 580 TU & EQ 664 to 630 EQ). Any advice is greatly appreciated.

[newmomnewme]

@Dp23 I would definitely wait for the dispute to shake out. The points would make a big difference. Wait the few weeks to see if the scores bounce back. Good luck!!

[Dp23]

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@Dp23 wrote:

Good morning people. I got an offer from BoA for the Unsecured/Secured Cash Rewards card (Not sure if it's secured or unsecured version). I already have the BoA Americard for 2 years & Mercury Mastercard for 5 months. Never been late on either. I know I need a 3rd card to maximize the AZEO method but do I apply now or when my disputes end 1/11/20? I'm disputing a 30 day late payment from my finance company which dropped my scores 60 points (640 to 580 TU & EQ 664 to 630 EQ). Any advice is greatly appreciated.

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Thank you for the advice, it's been pulling teeth from the finance company claiming they don't do the Goodwill although I did get my payment history from them showing no missed payments after the adjustments was applied. I qualified for a 2 month extension that was applied so I didn't have to pay in those months but it was still reported 30 days late for one month. The credit bureau is threatening to remove the entire account if finance company don't reply. That's of course another conversation in another subforum. Thanks again.

[Anonymous]

Definitely wait.  Any time your profile is on the cusp of a big change (60 points is big) it's always going to result in a more favorable end result (approval vs denial, starting limit, APR, whatever) if you allow that profile-strengthening change to land on your CR first.

Just something else to consider slightly off topic.  You mentioned you already have two BoA cards and are looking toward a third card simply to have 3 cards.  I might suggest looking toward a different lender all together for your next card, as to not have all of your eggs in one (the BoA) basket.  Lender diversification can be a good thing.  You never know what may happen, but if BoA decided to close all of your accounts you'd be out of a CC, where if you had one from a different lender you'd still be alright. 

[Dp23]

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@Anonymous wrote:

Definitely wait.  Any time your profile is on the cusp of a big change (60 points is big) it's always going to result in a more favorable end result (approval vs denial, starting limit, APR, whatever) if you allow that profile-strengthening change to land on your CR first.

Just something else to consider slightly off topic.  You mentioned you already have two BoA cards and are looking toward a third card simply to have 3 cards.  I might suggest looking toward a different lender all together for your next card, as to not have all of your eggs in one (the BoA) basket.  Lender diversification can be a good thing.  You never know what may happen, but if BoA decided to close all of your accounts you'd be out of a CC, where if you had one from a different lender you'd still be alright. 

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I'll definitely wait it's only 2 more weeks, great advice as well. I only have 1 BoA card which is the AmeriCard with $1500 CL & a Mercury Mastercard w/500. I really wanted the Chase Freedom (Flex now) but I got denied because I have 2 closed accounts. One falls off 2/2021 & the other 2023 sometime. I'm currently disputing both along with that 30 day late notice. Any advice on good cards to look at Unsecured & secured?

[Anonymous]

My mistake, I thought I read that you already had 2 BoA cards.  If you've already got one from another lender and think a(nother) BoA card suits you best, nothing lost in going for it from them.

[Meanmchine]

I'd wait

Good luck

[Dp23]

UPDATE: I applied for the Cash Rewards card today but was denied because apparently you can't have two BoA secured cards at the same time. I didn't know that I could've saved that HP but oh well I'm "gardening" until mid 2022. I have a charged off account that's due to fall off 2/2021 on EX/EQ & a closed installment account that's due for mid-2022. Still working on getting that 30 day late removed, two disputes later & many goodwill emails sent out I haven't had any luck despite having copy of payment history (whatever). 95% of inquiries are falling off Nov. 2021.