Odds for BBR (Better Balance Rewards)?[updated]

rcraysun · ‎02-17-2014

Hey all,

This forum just helped me get a BCE yesterday, and I am now seeking for advice again. I’ve been “staring” at BOA BBR (Better Balance Rewards) for months. What are the minimal requirements for that card? Here is my situation:

TU score: 741 reported by Discover it on 02/06/2014.

Sesame score: 723

3 accounts:

Discover More (Opened on 01/2013): Bal. $0, CL $1550 reported on 02/12/2012. (it is converted to Discover it last month)

Target Redcard (Opened on 08/2013): Bal. $0, CL $300 reported on 02/15/2014

Chase Freedom (Opened on 11/2013) Bal. 0, CL $1000 reported on 02/03/2014

Just got a BCE instant approval yesterday.

100% on-time payment. AAoA: 6 months. Oldest: 1 yr (Discover). 4 inquries on TU (2 from ATT). 2 inquries on EX.

I am curious about the approval odds for BBR right now. Should I wait for another several months to increase my chance? The reason I want to give it shot now is I want this inquiry ages together with AMEX inquiry. I will start to garden after this app.

Any advice will be welcome. Thanks in advance.

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Update: I just applied it through phone today. A rep with an accent (Indian I guess) answered the phone. Got 800 initial CL Lower than my expectation. Should I call backdoor # for a higher one after weekend? It is enough for me though, I just want a higher one.

toi34 · ‎02-17-2014

Go for it!

You have at least 1 year payment history with a major CC and 0 late payments. BofA pulls EX and you only have 2 inq's.....YOU SHOULD BE GOOD!

Apply....and report back

rcraysun · ‎02-17-2014

@toi34 wrote:
Go for it!
You have at least 1 year payment history with a major CC and 0 late payments. BofA pulls EX and you only have 2 inq's.....YOU SHOULD BE GOOD!
Apply....and report back

Really? I thought 1 year coould be considered as a thin file. Thanks for quick reply. That really inspires me.

Creditaddict · ‎02-17-2014

I don't think you will have any issues getting it at all.

sure Fidelity Amex wouldn't be better though?

Peteyglad · ‎02-17-2014

I just got this card last week, although I did have to recon. Scores were similar, but I have a thicker file. Originally got an automatic denial because of the usual suspects as too many inquiries in the last year, etc. Called the back door number and the analyst had no idea why I was instantly denied and approved me. My guess is you will be able to get the card.

My use for the card was to park my natural gas bill there every month and get $120 cash back a year for paying in full which outweighs any rewards I can earn anywhere else on a $50 a month bill.

Themanwhocan · ‎02-17-2014

@Peteyglad wrote:
I just got this card last week, although I did have to recon. Scores were similar, but I have a thicker file. Originally got an automatic denial because of the usual suspects as too many inquiries in the last year, etc. Called the back door number and the analyst had no idea why I was instantly denied and approved me. My guess is you will be able to get the card.

My use for the card was to park my natural gas bill there every month and get $120 cash back a year for paying in full which outweighs any rewards I can earn anywhere else on a $50 a month bill.

Exactly. I plan on getting this card for my $46 DSL bill. I'm not creating another BOA account just for the extra $20, so for me its $100 a year for $552 yearly spend, which is 18.1% cash back

For your example, it would be 20% cash back.

TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800

CreditMagic7 · ‎02-17-2014

BofA pulled Experian for the initial denial for me, then recon pulled TU for approval.

rcraysun · ‎02-17-2014

@Creditaddict wrote:
I don't think you will have any issues getting it at all.
sure Fidelity Amex wouldn't be better though?

2% cash back is really appealing, but I have two revolving 5% categories from discover and freedome. I will also receive my BCE in one week, which will leave a relative small spending for the Fidelity Amex, which is definitely smaller than $1000/month. (bear with me my "little spending" since I am still a student, lol). Instead, I am thinking that $25-30 per month from BBR is just like free money.

Leadberry · ‎02-17-2014

@toi34 wrote:
Go for it!
You have at least 1 year payment history with a major CC and 0 late payments. BofA pulls EX and you only have 2 inq's.....YOU SHOULD BE GOOD!
Apply....and report back

BofA pulls TU for me.

FICO Scores 800+

rcraysun · ‎02-17-2014

@Peteyglad wrote:
I just got this card last week, although I did have to recon. Scores were similar, but I have a thicker file. Originally got an automatic denial because of the usual suspects as too many inquiries in the last year, etc. Called the back door number and the analyst had no idea why I was instantly denied and approved me. My guess is you will be able to get the card.

My use for the card was to park my natural gas bill there every month and get $120 cash back a year for paying in full which outweighs any rewards I can earn anywhere else on a $50 a month bill.

Congrats to your new card. That's what I am thinking. BTW, do you know whether this $30 is taxable?