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Bank of America App. question for our "experts"

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Valued Contributor

Re: Bank of America App. question for our "experts"


@CreditCuriosity wrote:

@Obscure-Expert wrote:

Meh... I have 2 USB accounts and don't bank with them either.

 

In general I don't mix cash with credit w/ any bank or CU.

 

The bare minimum is to have a login w/ USB to apply for the AR.... nothing else.  Someone added their kid to their checking account for the purpose of having the kid apply for the AR and it worked / was approved.  Might have even just been an AU to one of the CC's they had w/ USB.  


If you just want the bonus open up a checking account public bonus i believe is 300 dollar collect it, apply for card get that 500 bonus once card is obtained you can close the checking account.  Checking account or investment account with this card greatly helps from many forums I have read and my own personal denial experiences awhile back as well.  I broke down and did he public 300 checking offer and in another month or two will be applying for the card and I am giving myself a 90% shot of obtaining it.  As i am sure you know scores aren't everything for lenders such as us bank, chase due to 5/24 rule and in this case bofa doesn't personally want to get churned for $500 imo as they use to get taken for what 5 Alaska airline bonuses at a time by some crazy people that caused the 2/3/4 rule and the likes.  Some people go overboard with said lenders and this is how these rules come.  Their is no doubt the 5/24 rule came from someone having everyone or most of chase cards collecting bonuses then shutting those cards down that have AF's.  Same goes for the PR bofa card as BofA doesn't want to hand out a 500 bonus on a fairly easy spend sub.  Just my 2 cents we wll see if I get approved or not in a month or two when i apply as BofA will use excuse or no banking relationship or too many recently opened accounts for this card, but if you have investments/banking with them it kinda magically goes away being either of those reasons one for obvious reasons and other one they tend to just overlook.

 

Bofa has been very generous to me on other cards approx 70k in credit, but this card is hard to crack thus i will give the banking route a try the worse that can happen is i collect my 300 checking bonus and lose a HP on experian...  Worth the try for me gaining 300 and possibly another 500 for just a HP against EXP as I dont put much weight on HP's as greatly over weighted as you can see by approval from mahraja and others.  Granted to do have higher than normal incomes and the banks want a piece of that spend.

 


Well GOOD LUCK when you apply...I think my hesitation really is that I just got the CR in June, so thinking apping so close together (but not over the 2/3/4 rule) they would deny if they are that picky, and if denied I would have to wait another three months PLUS to clear everything to try again, and I have EASY bills right now to take care of the SUB spend. OVER THINKING.....LOL

Message 11 of 14
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Moderator

Re: Bank of America App. question for our "experts"


@odd_dog wrote:

@CreditCuriosity wrote:

@Obscure-Expert wrote:

Meh... I have 2 USB accounts and don't bank with them either.

 

In general I don't mix cash with credit w/ any bank or CU.

 

The bare minimum is to have a login w/ USB to apply for the AR.... nothing else.  Someone added their kid to their checking account for the purpose of having the kid apply for the AR and it worked / was approved.  Might have even just been an AU to one of the CC's they had w/ USB.  


If you just want the bonus open up a checking account public bonus i believe is 300 dollar collect it, apply for card get that 500 bonus once card is obtained you can close the checking account.  Checking account or investment account with this card greatly helps from many forums I have read and my own personal denial experiences awhile back as well.  I broke down and did he public 300 checking offer and in another month or two will be applying for the card and I am giving myself a 90% shot of obtaining it.  As i am sure you know scores aren't everything for lenders such as us bank, chase due to 5/24 rule and in this case bofa doesn't personally want to get churned for $500 imo as they use to get taken for what 5 Alaska airline bonuses at a time by some crazy people that caused the 2/3/4 rule and the likes.  Some people go overboard with said lenders and this is how these rules come.  Their is no doubt the 5/24 rule came from someone having everyone or most of chase cards collecting bonuses then shutting those cards down that have AF's.  Same goes for the PR bofa card as BofA doesn't want to hand out a 500 bonus on a fairly easy spend sub.  Just my 2 cents we wll see if I get approved or not in a month or two when i apply as BofA will use excuse or no banking relationship or too many recently opened accounts for this card, but if you have investments/banking with them it kinda magically goes away being either of those reasons one for obvious reasons and other one they tend to just overlook.

 

Bofa has been very generous to me on other cards approx 70k in credit, but this card is hard to crack thus i will give the banking route a try the worse that can happen is i collect my 300 checking bonus and lose a HP on experian...  Worth the try for me gaining 300 and possibly another 500 for just a HP against EXP as I dont put much weight on HP's as greatly over weighted as you can see by approval from mahraja and others.  Granted to do have higher than normal incomes and the banks want a piece of that spend.

 


Well GOOD LUCK when you apply...I think my hesitation really is that I just got the CR in June, so thinking apping so close together (but not over the 2/3/4 rule) they would deny if they are that picky, and if denied I would have to wait another three months PLUS to clear everything to try again, and I have EASY bills right now to take care of the SUB spend. OVER THINKING.....LOL


Thanks.. I think I will be good as prior to opening up their checking account I was/am pre-approved with set apr's/offers on all their cards except the PR card sigh lol.  Hoping now that I have a checking account with them the PR shows up on the next AR which I believe lands on the 22nd of this month..  As the 3 card offers expires and new one will appear.  They expired last month but got offered then again this month with extended expiration dates..  Make my choice certainly alot easier to make if it does come up in my pre-quals lol.  At the end of the day it is only an Experian  HP and barely anyone pulls them where I live so can certainly afford one and I like testing lenders hence my weird assortment of cards and lenders to see how they work Smiley Happy.  I have a simmons about 1 block from where I work, so tempted to apply for that card, but i am not that crazy they would laugh with the amount of credit I had at me Smiley Tongue

Message 12 of 14
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Valued Contributor

Re: Bank of America App. question for our "experts"


@CreditCuriosity wrote:

" ... we wll see if I get approved or not in a month or two when i apply (for Premium Rewards) ..."

Best of luck with that app and definitely let us know how it turns out!

 

I've been eyeing that BoA PR card too and was planning to app in near future as I've been adding lots of Chase to my wallet.  This thread has been very helpful on approval odds and stragegies, so thanks everyone for all the feedback!  I, too, only show the 'preapprovals' on my CR page for the Bankamericard Visa and Travel Rewards.  But may look into banking to improve my odds.  I see nothing negative about moving some long-term investments to Merrill from what I've read. 




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9+ years; AoYA = less than 1 year (Nov 2019)
Total Open Credit Lines Over $454K. Utilization Less Than 1%. Inquiries until May 2020 (TU:2 -- EQ:2 -- EX:6)
*Hover cursor over each card to see name, CL
Message 13 of 14
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New Contributor

Re: Bank of America App. question for our "experts"

Was approved w/o any banking relationship. Only relationship was with my Cash Rewards cars that had been opened 1.5 years. They did do some reallocation though.

Score in the 760s-770s.
Message 14 of 14
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