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BOA premium rewards approuved

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Established Member

BOA premium rewards approuved

just got approuved for BOA Premium Rewards, SL 11K,
DP Exp 712, inq 10+, AAoA 1.8, new acc 6/24, I do have 2 other CC SL 10k,  with BOA ML acc, Checking 6k,  travel reward 6k.

Don't try to get this card if you don't have a least 5k with boa, and other card with SL 10k.

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21 REPLIES 21
Senior Contributor

Re: BOA premium rewards approuved

 

Congrats on you're premium approvalSmiley Happy

 

Message 2 of 22
Moderator

Re: BOA premium rewards approuved

Tough UW on this one, congrats on getting it Smiley Happy
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 3 of 22
Regular Contributor

Re: BOA premium rewards approuved

Thanks for that note.

I was thinking about getting this but will try for a Bank Americard first do a BT for 6 months then apply for this card in December next year.

Message 4 of 22
Established Contributor

Re: BOA premium rewards approuved


@blackfines1 wrote:

Don't try to get this card if you don't have a least 5k with boa, and other card with SL 10k.

 

I have a single card @ 65K with them and still get denied for this beast.  The key must be the deposit and not the 10K CL on the other card.

 

%0.01 on BOA Checking isn't worth the PR approval at least for me.  I was just considering it for the SUB anyway.

500K+ TCL / 800+ FCOs
Message 5 of 22
Frequent Contributor

Re: BOA premium rewards approuved


@blackfines1 wrote:

just got approuved for BOA Premium Rewards, SL 11K,
DP Exp 712, inq 10+, AAoA 1.8, new acc 6/24, I do have 2 other CC SL 10k,  with BOA ML acc, Checking 6k,  travel reward 6k.

Don't try to get this card if you don't have a least 5k with boa, and other card with SL 10k.


Congrats!  Smiley Very Happy

That's a nice card!

I have my eye on this card too. 

 

A few questions to clarify, please.

Understand they pulled EX?  (I thought TU was more common with BofA.)

For Data Points, what were your other highest limit cards?

Approximately how much were your total deposts including ML acct?

 (Was the $6K just in checking?)

Approximate income?

Thanks!

 

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Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
Total Open Credit Lines Over $400K. Utilization Less Than 1%. Inquiries until May 2020 (TU:1 -- EQ:0 -- EX:5)
*Hover cursor over each card to see name, CL
Message 6 of 22
Frequent Contributor

Re: BOA premium rewards approuved


@Obscure-Expert wrote:

@blackfines1 wrote:

Don't try to get this card if you don't have a least 5k with boa, and other card with SL 10k.

I have a single card @ 65K with them and still get denied for this beast.  The key must be the deposit and not the 10K CL on the other card.

 

%0.01 on BOA Checking isn't worth the PR approval at least for me.  I was just considering it for the SUB anyway.


From what I understand, Merrill Lynch accounts (even self-directed investments) count also towards deposits and qualification for Premium Rewards tiers.  Is this not an option or attractive?  Moving some money into investments and then keeping a small bank account open seems a viable option.  If you have enough status with PR program, they waive the monthly service charges so there would be no minimum balances or fees.  




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
Total Open Credit Lines Over $400K. Utilization Less Than 1%. Inquiries until May 2020 (TU:1 -- EQ:0 -- EX:5)
*Hover cursor over each card to see name, CL
Message 7 of 22
Moderator

Re: BOA premium rewards approuved


@Aim_High wrote:

@Obscure-Expert wrote:

@blackfines1 wrote:

Don't try to get this card if you don't have a least 5k with boa, and other card with SL 10k.

I have a single card @ 65K with them and still get denied for this beast.  The key must be the deposit and not the 10K CL on the other card.

 

%0.01 on BOA Checking isn't worth the PR approval at least for me.  I was just considering it for the SUB anyway.


From what I understand, Merrill Lynch accounts (even self-directed investments) count also towards deposits and qualification for Premium Rewards tiers.  Is this not an option or attractive?  Moving some money into investments and then keeping a small bank account open seems a viable option.  If you have enough status with PR program, they waive the monthly service charges so there would be no minimum balances or fees.  


Yes that is correct it does count towards the tiers being ML.  Yes a very tough card to get indeed as been turned down a few times most recent with an experian score > 800 and a checking with bofa granted a newer checking account.  Denial reason for number of new accounts was only reason tried to recon to no avail.. give it another shot in 6 months.  Still pre approved for all their other cards.

 

Congrats OP

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | 5/3rd | Synovus | Commerce | FNBO | Union Bank | Regions
Message 8 of 22
Established Member

Re: BOA premium rewards approuved

Understand they pulled EX?  (I thought TU was more common with BofA.) EXPERIAN  for me in TX

For Data Points, what were your other highest limit cards?       9 k CITI PRESTIGE + 11 K CHASE

Approximately how much were your total deposts including ML acct? CHECKING 6K , ML +-3K

 (Was the $6K just in checking?) YES

 

Message 9 of 22
Super Contributor

Re: BOA premium rewards approuved

Wait, so you need to have deposit accounts with BoA to get approved for their premium rewards card?  I have not read about this prior to now.  Glad I never apped, as that would have been a denial for me.

Message 10 of 22
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