BOA Counter Offer

[BrokaToe]

Ok, so I received my BankAmericard Cash Rewards Platinum Plus Partially Secured Visa in the mail today, 99/500.  Then in two other seperate pieces of mail I received the denial letters for the Signature card and one envelope had a pre-selected offer for the 99/500 card, which is the one I received from online app.  But the other envelope had a pre-selected for the same card, but unsecured, didn't show or say anything about a deposit or secured like the other one did. 

My question is, should I send in the pre-selected offer for the unsecured card, do you think I would have a chance in getting it, in addition to the secured one I already received?  I called cust service and they said an individual can have multiple BOA cards from them.  Just wanted some advice, not sure if they would do another hard pull, or if it may be a soft pull.  Also, if I do send it in, what are my chances of getting this other card?

[Viper786]

I'm almost certain they will do another hard pull. In my prior experience, pre-selected doesn't always mean pre-approved. If you can take the hard inquiry, I would say go for it

[learnin113]

Your score is 662, and u still need a secured card?

[MrShush]

^ good question

[BrokaToe]

I guess it's because I have a limited credit history due to no activity on my credit reports for about the last 10 years.  I also have School loans in collection status on my report.  My score actually went up to 662 after boa reported the new credit line...probably a 30+ point increase

[Revelate]

You want 2-3 credit cards (or other revolving tradelines) if you're trying to re-establish credit.  Personally I would find a different lender to get the other tradelines with because I think there's some upside to having relationships with multiple financial institutions; however, from a pure FICO perspective, it doesn't matter who the cards are from at all and BOFA is a nationally recognized lender.

Wish I'd known about their partially secured offers, wonder if that's new as I don't remember them before.

[BrokaToe]

Actually it's something they've been counter-offering for many years.  But I have heard that here a few years back it was pretty scarce to see someone that received the offer.  I had applied for the signature card and they countered with the 99/500 card.  Felt pretty lucky so I jumped on it quick to say the least.

[ladydeac]

What did you decide to do? And did they HP or SP if you went with either one?

[BrokaToe]

Actually I just decided to wait it out for a little while longer...Thought it would be better to try for something from a different source.  My secured card will graduate in 9-12 months, so not really worth pushing with BOA.  Just my thoughts on it

[Anonymous]

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@BrokaToe wrote:

Actually it's something they've been counter-offering for many years.  But I have heard that here a few years back it was pretty scarce to see someone that received the offer.  I had applied for the signature card and they countered with the 99/500 card.  Felt pretty lucky so I jumped on it quick to say the least.

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I got the 99/500 at the end of 2010. I read a lot about it on these boards, took a breath and jumped in. It's only a counter offer, so you never know what you'll get. Congrats on getting it, but I doubt they'd turn around and give you an unsecured card a few weeks later.