BoA PR qualification?

[xenon3030]

Regarding BoA PR qualification, is there any expectation on the number of accounts or the number of CCs? I heard sometime 3 CC and sometime 3 accounts. In my case, I have 3 CC and checking/saving (1 CC opened in the last year). Do I qualify for PR?

Also, is it TU HP or EX? Is there any requirement for the HPs in the last year?

[HeavenOhio]

I think it's Experian for the initial application and TransUnion for CLI requests. Someone please correct me if I'm wrong.

[Anonymous]

Do you maintain at least a $20k 3 month avg balance in your checking and saving acct? There is no HP to gain Preferred Rewards privileges it is based on acct balances. (If that was what that question was referring to.)

BoA PR qualifications are based on combined balances across deposit accounts. There is a minimum of 20k average 3 month combined balance (BoA & ML) to qualify for the lowest tier of PR, in addition to having an open checking acct. Highest tier balance requirement is $100k+.

[xenon3030]

PR CC means here the new Premium Rewards credit card from BOA (but not premium rewards tiers of checking/saving). I am asking about the expected qualifications for this new credit card.

[K-in-Boston]

I’m not aware of any qualifications as to how many cards you need prior to an approval for the PR. However, you should certainly have a record of fairly large credit lines. Unless you have a decently strong profile, this would not be the first card to go for with BOA. Your scores look fine for approval, how is your average age of accounts and how many cards have you opened up in the past 12 months? It’s certainly a more difficult card to be approved for than some of the others, but it’s not hugely different than say a Chase Sapphire Preferred. Income is likely a deciding factor as well.

[xenon3030]

In the past year, I only opened one CC (TR) with BOA but I have several HP and opened CCs in the past year. For the moment, it is difficult for me to decide whether I apply for it because I heard several denial and I do not like denials or accumulate several HPs on EX. I think, it is better for me to wait for a few weeks more and afterward, do PC my TR to PR. The PC seems to be feasible only for 1+ year old CCs.

[K-in-Boston]

Your signature lists 3 BOA cards. What are the limits on those? They will reallocate credit lines as needed in order to open a new card. (For example, they took $21k from my Travel Rewards card to open my Premium Rewards.) Have you asked for a CLI on any of those cards recently? If you’re not super confident about an approval, certainly asking for big CLIs on your existing cards (a TU pull) could help if they needed to reallocate.

[xenon3030]

I have ~30k CL with them. 3/6, 5/12, 9/24. EX HP: 7/y.