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BofA Card - Got Approved, Worried about more approvals?

TheFraulein
Regular Contributor

BofA Card - Got Approved, Worried about more approvals?

Okay, I have been seeing terrrrrbul things lately. CLD's from every and any lender, companies like Synchrony shutting down ALL cards at once, limit chasing, etc.

 

So, I need opinions.

 

I know my Wayfair is supposed to shut down by Commenity on Sept. 11th, correct? Already, that scares me.

So, I decided to try to diversify today.

Although I'm about 2/5 (last card was my Amex BCE in Oct. 2019), I just didn't want to chance Chase right away, so I checked the prequals on the BofA site and was offered any choice of their cards.

Without ANY relationship with BofA, I was approved for the Cash Rewards, but with a low SL of $3500. Still, I can grow it, right? 

And most of all, DIVERSIFY.

So, I got my last CLI auto in May or June from Discover ($15,700 to $17,500), and my 2 Citi cards seem okay (just re-verified my income today because they asked me to update my info in case of an auto CLI... 😬!!!), and my Amex I've kept without asking for a CLI, just in case.

So far, so good. But losing Wayfair sucks.

And what if Synchrony flips out and dusts my cards?

So, ...

I know apping for the BofA card could be seen as 'credit seeking' (even if I haven't had a new card since last year), but I have a pretty damned good file and very good scores. I should be okay, right?

 

Also, I got a nice offer in the mail yesterday for the Hilton Honors card (7x Hilton purchases, 5x at restaurants, supermarkets and gas stations, 3x on every other purchase) with a 100k point SUB for $1000 spend within 3 months. Got till Sept. 30th to respond.

I'm good with my Amex BCE I have now, ...

Would apping for the HH be seen as a bad thing?? 

Even if I wait till the end of September?

 

I want to travel again ASAP, and the points for groceries and restaurants is nice! And It amps points if eating at a Hilton (7x plus 5x)!

Dunno. I'm scared. And hungry.

Scrungry.

What should I do? 🥺😭🤷‍♀️

Starting Score: 630
Current Score: 768/798/757
Goal Score: 820+


Take the myFICO Fitness Challenge

Began in Jan 2017.
As of Aug. 2018, just bought a new solar home!

Planning for: Chase Saphire Preferred/Reserved
Marriott Bonvoy or Amex Platinum (DONE!!!)
A Viaso card (for Japanese travel)
ANA or JAL FNBO, maybe Cathay Pacific


Amex BCP (*New PC*) - $14000, Citi Premier (*New PC*) - $17500, Citi DC - $12500, Nordstrom VS - $15000, Discover IT - $17500, CareCredit - $15000, Cap One Venture - $4750, Amazon - $6500, Comenity MC- $8900, Lane Bryant Platinum - $4200, Cap One Venture One (*New PC*)(co-sign/au) - $1250, Victoria Secret - $1250, Paypal MC - $4900, BofA Cash Rewards - $3500 (*New*), Amex Hilton - $3000
Amex Platinum - NPSL (*New*)
(About $125,000k in credit. So Far ...) Updated 11/21/2020
Message 1 of 13
12 REPLIES 12
Dumbee
Established Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

I kind of regeert apping the Honors Base card rather than the AF ones, especially the Aspire. The benefits, credits, and instant Diamond status are worth it.

 

I don't think that what you're doing is that much credit seeking, at least compared to people here. I'd say app to your delight. I wouldn't worry about Wayfair when you have much bigger bank cards.


Smiley Embarassed
Personal/40.15K Biz/23K POT/17K
Message 2 of 13
gdale6
Moderator

Re: BofA Card - Got Approved, Worried about more approvals?

Not too bad of a SL from BoA and yes use their cards correctly and they can grow rather quickly, congrats on it Smiley Happy  Yes Wayfair is shutting down around that date.

Message 3 of 13
M_Smart007
Epic Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

Congratulations on your Approval..

Message 4 of 13
CreditAggie
Senior Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

Congratulations on your BofA Cash Rewards approval!

Current Cards (in order of approval):


Current FICO 8 | 9:

Credit Age:

Inquiries (24 month):

Banks & CUs:

Goal Cards:



Currently: 2/6, 2/12, 5/24
Message 5 of 13
TheFraulein
Regular Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

That's kinda the point. I want cards to cover the day Synchrony cuts my 15k Carecredit or if Citi suddenly CLD's me out if the blue.

I thought that the HH card with my nifty BCE would help create a small 2-fer "gangb*ng" against my Citi or CapOne 2-fers.

 

Or, ... the guys on the boards were all clapping for the Macy's Amex last night. 1k SL for online apping now mandatory, but a raise every 31 days, ...

Most got at least 10k to 20k limits with cli's or more after only a few months. 😳 

 

Or, ... I have a great TD backed Nordstrom VS. Target MC and other co-branded TD cards could be nice. I love my Nordy card. 

 

I read to not even try WF, not even Propel seemed worth it from the boards. Or HSBC?

BBVA (Compass?) or BB&T (Bright or Spectrum) were also talked about 'not-as-nicely', and there's one of each branch in the next town. 🤔

 

Man. Pfft! I thought everything was all ... stable. But seeing someone get a sweep of Synchrony cards shuttered and 97k lost from one source is a massive P in the A. 

 

Dunno. Yanno?

/rant

Starting Score: 630
Current Score: 768/798/757
Goal Score: 820+


Take the myFICO Fitness Challenge

Began in Jan 2017.
As of Aug. 2018, just bought a new solar home!

Planning for: Chase Saphire Preferred/Reserved
Marriott Bonvoy or Amex Platinum (DONE!!!)
A Viaso card (for Japanese travel)
ANA or JAL FNBO, maybe Cathay Pacific


Amex BCP (*New PC*) - $14000, Citi Premier (*New PC*) - $17500, Citi DC - $12500, Nordstrom VS - $15000, Discover IT - $17500, CareCredit - $15000, Cap One Venture - $4750, Amazon - $6500, Comenity MC- $8900, Lane Bryant Platinum - $4200, Cap One Venture One (*New PC*)(co-sign/au) - $1250, Victoria Secret - $1250, Paypal MC - $4900, BofA Cash Rewards - $3500 (*New*), Amex Hilton - $3000
Amex Platinum - NPSL (*New*)
(About $125,000k in credit. So Far ...) Updated 11/21/2020
Message 6 of 13
cashorcharge
Valued Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

Congratulations on your BofA Approval!!

Message 7 of 13
AllZero
Super Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

Congratulations on your approval!

Message 8 of 13
coreyb80
Valued Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

Congrats on the approval!

Message 9 of 13
MyFault
Valued Contributor

Re: BofA Card - Got Approved, Worried about more approvals?

Congrats on your BofA approval!



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Message 10 of 13
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