I have been seeing that alot lately, in reference to BOA offer 99/500. What exactly is that? Is it a secured card in which you pay 99 for a 500 CL?
Yes. It is offered as a counter-offer only if you are denied for an unsecured CC from BofA. You deposit $99 and they'll give you a $500 CL CC. After 9-12 months, they will unsecure it and refund the $99.
I could have told you that! Crap 1 did the same thing to me. I got "pre-approved" and was denied, after they pulled all 3 CR's.
There is a commission involved when you apply for a credit card. Like those people that stand in the airport concourses that solicit the passengers to apply for the card, i asked one of them how much do they get. i was tol the company gets $125.00 per app. Then they split the reward for getting you to apply wheter you get approved or not. It is a business! And now that you have a hard inquiy it drops your score then when you do get approved they charge you with a higher interest rate. In ewssence you are feeding the monster.
My bank WAMU keeps hounding me about this pre-approved card. So the next time I asked how much am I pre-approved for and they stated they had to run my credit first. I then retorted, then "I am not pre-approved then!!" The bank person then stated correct. They get a comission somehow or a bonus. Beware of pre-approvals! It is not like it used to be, they are fishing for a catch.