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BofA Premium Rewards Approved - $16K

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Valued Member

BofA Premium Rewards Approved - $16K

Recently applied for my first credit card in 13 years.  Disappointed with the SL, so I transferred most of my available credit from a 20 year old card that apparently became a BankAmericard.  That put my premium rewards card at $25K (min I would need for daily card), however that left my Americard at $1K.  

 

Ideally, I'd PC that Americard into a Cash Rewards card and get CLI's on each to about $35-50K.  Is it better to PC or CLI first?

 

 

Message 1 of 14
13 REPLIES 13
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Community Leader
Super Contributor

Re: BofA Premium Rewards Approved - $16K

Congrats on the approval despite the SL not being to your liking.

 

For your question I don't think the order matters on which you do first.

Message 2 of 14
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Valued Contributor

Re: BofA Premium Rewards Approved - $16K

Congrats on the approval!!
Message 3 of 14
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Valued Contributor

Re: BofA Premium Rewards Approved - $16K

Congrats on the approval!

I wouldn't worry about the CL with BofA. If you have an OK profile, it'll grow very quickly.
I'd kept a card in the SD for about 6 yrs with a $2k limit only. It's now at almost $50k after a year since they started doing SP CLIs.
Same with DW. She started with an Alaska card at ~$21k late last year, and it's right at $50k now.
AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 4 of 14
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Moderator

Re: BofA Premium Rewards Approved - $16K

Congrats on your approval 

Message 5 of 14
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Valued Member

Re: BofA Premium Rewards Approved - $16K

Thanks!  I should say I'm excited and this marks the start to refreshing my credit repertoire since pre-financial crisis.  My setup is antiquated and I foolishly became complacent with some old card for every day spend.  That SL is not a major disappointment by any means... especially since I could move some credit to get to $25K.

Message 6 of 14
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Moderator

Re: BofA Premium Rewards Approved - $16K

Congrats and enjoy the card with a nice sign-up bonus.. I want this card badly, but won't try until I establish a banking "relationship" with them.  I have quite a bit of credit through them now on Merrill and Business card with them, but I know they are very uptight with this card unless you really bank with them and that really is where the strength is with this card if you have say 100k with them due to tiers..

Message 7 of 14
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Contributor

Re: BofA Premium Rewards Approved - $16K

Congrats on the new card and great SL!
FICO 8 Scores 4/1/2018: 694 EX 714 EQ 740 TU FICO 8 Scores 6/16/2019 770 EX 798 EQ 791 TU

Wells Fargo Cash Wise $20,000 [] PenFed Power Cash $20,000 [] HSBC Cash Rewards $3,750 [] Discover It $5,100 [] Maurice’s $5,000 [] CO Savor $15,000 [] NFCU Flagship $18,000 [] Amex Rose Gold [] Walmart $800 [] Kohl’s $1000 [] Amazon Store Card $300 [] American Express Cash Magnet $1000 [] USAA Cashback Rewards Plus American Express Card $4500 []
Message 8 of 14
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Valued Member

Re: BofA Premium Rewards Approved - $16K

If it helps anyone...

 

I have had a basic checking account with BofA since they acquired NationsBank way back when (my first checking account, back to high school days actually).  That said, I've not used the account in over a decade.. just left < $25K sitting the whole time.

 

Since getting this card though, I've deposited about $125K in order to get that Platinum Honors multiplier... which is the whole purpose of this card imo.  Also just opened a Merrill Edge account because > $100K earning nothing is bad imo.

Message 9 of 14
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Valued Contributor

Re: BofA Premium Rewards Approved - $16K

Congrats on the approval!


Scores - All bureaus 756 +
TCL - Est. $275K
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