Bank of America Premium Rewards

[Anonymous]

Hi everyone, been a bit since I last posted. Here to share some more data points with you all on my latest approval and also denial! Recently started my Bank of America relationship with a checking account as there is one right around the corner from me. Was hoping to get a new card to go along with it but figured I would wait a bit. Fast forward to today, (about a month later) I applied for the Premium Rewards. Instantly approved for 8k! Yes! : ) I've read conflicting info on whether or not you can combine pulls at BoA, so tested that too with applying for the Cash Rewards. The good news is it didn't seem to register as a second hard pull. The bad news is I got instantly denied, lol. Still happy overall, and I'm glad I tried for the one I wanted more first. Maybe I'll try again for Cash Rewards in a month, we'll see.

DP:
Pulled Experian
741 FICO
1% Utilization
5/12 Inquiries
4/12 New Accounts

[AllZero]

Congratulations on your approval!

[M_Smart007]

Congrats!

[gdale6]

Wow, most apps seem to go to review on the premium card. Grats on getting it out of the gate

[Anonymous]

Congrats on your BoA Premium Rewards approval!

[coldfusion]

Congrats on the card!  

At least before they converted to using a TU SP last year for the vast majority of CLI requests, BoA would re-use the same HP (EX for new card, TU for CLI request) for any subsequent card applications and CLi requests made in the next 30 days*.  It would not surprise me if you didn't take an additional HP. 

*If the HP were from TU for a CLi request they would also reuse that for new card applications, if a HP from EX for a new card application they would reuse THAT for subsequent CLi requests.

[Anonymous]

Congratulations!

[19eighty5]

Congratulations on your approval!

[Pro-X]

Congrats!!

[Aim_High]

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@Anonymous wrote:

Recently started my Bank of America relationship with a checking account 

(about a month later) I applied for the Premium Rewards. Instantly approved for 8k!
Experian (741);  1% Utilization;  5/12 Inquiries;  4/12 New Accounts

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Congrats and impressive!

Nice approval and SL on the Premium Rewards card!

That card really pays off if you get into Preferred Rewards program at minimum $20K total balances (top tier $100K) if you can swing it.  Merrill Lynch investments count as a part of that. 

Word on the MyFico street has been this has been a notoriously-difficult card to get.  I knew you needed a checking account but thought it took much more than having an account open for a month to get the card.  That's very encouraging.  I'm currently gardening for it and letting my checking account age so maybe I'll be in much better shape that I thought.   I also previously had a long-time checking account with them and I have had a credit card with them almost 20 years.   I've had several new cards in the past year so letting a few get past 12 months.  I'm probably good but want to be safe and let my profile stabilize.  Bank of America recently enacted the 7/12 and 3/12 rules and they have their older 2/3/4 rule.  For the benefit of other members, I've repeated Bank of America's application rules below.

Bank of America 7/12 & 3/12 rules

        (*New for 2019) 

        (*Counts ALL new credit cards, not just Bank of America cards.)

• If you have a deposit account with Bank of America – Your credit card application will be denied if you have 7 new cards in the past 12 months.
• If you do NOT have a deposit account with Bank of America – Your credit card application will be denied if you have 3 new cards in the past 12 months.

Bank of America's 2/3/4 rule

   You may be approved for a maximum of:

  (2) Bank of America personal cards within 2 months

  (3) Bank of America personal cards within 12 months

  (4) Bank of America personal cards within 24 months