Thank You especially to moderators and all that contribute here.
March 9 2021. Wanted to app for Premium Rewards. After reading how elusive this card can be decided to go for Cash Rewards to establish relationship. No deposits or any accounts ever with BOA. This is exactly 1 year to date being declined for same card (CR) last year March 9 2020. Broke the 3/12 last year , I was 3/3. No more revolvers for 12 months, inquiry and new account points back. Instant approval not the greatest but pretty good 8K.
March 18 2021, BOA sends email, still looking for new cards. I'm like....hmmm this is from prequal I run before CR app. Check prequal again, shows all cards except CR directing me to Travel Rewards. Well if CR is not on here then this email was not from previous prequal. I know their prequal is marketing because I run it last year as well.
Come back here and do more reading. Discover BOA uses same hard pull for multiple apps if in 30 day window. If this is true then why not gamble? Is relationship established through Cash Rewards ( 9 days old)? Roll the dice on Premium Rewards, wheel spins ........................... Thank You in Review!
Did nothing except check online status every few days. March 29 2021 get email, Approved 17K!
Apparently a 9 day old Cash Rewards account did establish relationship and they did use same inquiry from 3/9/2021. Made a $2500 transaction on CR card, set up three depository accounts from other banks on bill pay and paid 2k of the 2.5K right after applying for Premium Rewards.
They checked Experian Fico 8 - 794
Inquiries 10/24 - 3/24 scorable
AoOA - 14 years
AAoA - 3.5 years
Util - >1%
DTI - 5%
Congratulations on your 2 new credit cards from BOA, and welcome to my fico boards. If you don't mind what was your income reported on the applications.
Should also add actual DTI=20%. All my reports show 5% so it gets stuck in my head. My mortgage is with a small in town S&L that does not report to any bureau (bad for me 70% equity) and this payment amount was on application. Non reporting leads to another story of being scoreless for 3 years!
Once again very sincere thanks to all that contribute here, just trying to add DPs that may help someone else!
Self Employed and SL(s) for both equals roughly 30% of income, sure you can get close from this