New Bank of America Premium Rewards Card

[Anonymous]

Unless you have an investment account with Merrill Lynch, this is a significantly worse deal than say the CSP/CSR considering the paltry interest rate. 0.06% at its highest on the savings account whereas Cap1 gives 1.3%

[xenon3030]

Planned to PC a TR card to PR to save a HP, but it could not be done (needs to be 1+ year old). I heard several app rejection due to the number of CCs or accounts. I have checking/saving and three CC with BA (5 accounts). Is there a chance that I receive denial? EX8=740, AoYA=2m, HP in the last year=7.

[xenon3030]

I had a pre-approved offer (single APR) and I decided to submit the application. It went under review and should receive a letter within 10 days. Is it a sign of CC rejection?

[CreditCuriosity]

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@xenon3030 wrote:

I had a pre-approved offer (single APR) and I decided to submit the application. It went under review and should receive a letter within 10 days. Is it a sign of CC rejection?

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It would tell you if you were denied right off..  Can keep track of your application status by the following link

https://secure.bankofamerica.com/apply-credit-cards/public/application-status/

[xenon3030]

It says it is under review and in case of questions, they would call. My concern is that if it would be approved, I need it before thanksgiving . Is there anyway to see whether it can be processed faster without possible negative impact on the application?  

[CreditCuriosity]

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@xenon3030 wrote:

It says it is under review and in case of questions, they would call. My concern is that if it would be approved, I need it before thanksgiving . Is there anyway to see whether it can be processed faster without possible negative impact on the application?  

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Speak with a UW/Analyst tomorrow.  Can find that number on this forum under the Credit Card Application section on the sticky of backdoor #'s

[xenon3030]

Got approved

I think, based on the reviews of several users on this difficult application, it would be difficult to get approved on this card as the first BA card. The best chance possibly would be for the current established customers with very good/excellent credit score and with sufficient established CL (not opened recently several CCs with BA). The sufficient established CL would be either helpful to open the new CC using the available CL or increase the total CL as an established customer.

[Anonymous]

Congrats.

[CreditCuriosity]

Congrats on your approval.  Was at a BofA earlier had to do my TSA pre-check(weird place to have one I know!).  Started to talk to a branch manager while waiting he was trying to talk me into this card lol.  Granted I was denied the day it came out for having to much recent credit and the situation hasn't impoved since then maybe 3 more approvals since the denial with them lol.  Granted have the Merrill with 35k and the BBR with 13k.  Maybe ill transfer some of an old companies 401k to open a Roth IRA with Merrill for 50k or so and see if that changes their tune.  Although have no clue about IRA/Roth and previous 401k's from old companies and drawback/benefits of doing so vs. keeping where it is or rolling into new companies.  Probably should educate myself about this one day!