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Back when I was paying no attention to my credit, I got a Bank of America credit card. I butchered it but they approved me at the time. I was really late at paying and they kept calling me an reminding me I needed to pay. i was like 180 days late several times. I just didn't care about my credit. Now I am paying for that but I do appreciate that BofA extended me credit then.
Congrats on all of your approvals! if you cannot remember who you applied with maybe your were not apping but drapping....lol. But in all honestly, great job and i have been impresses by BofA so far. Got a secured card (about to hit the 1 year mark) and unsecured one! I do consider them a prime lender!
heck to the yes they are prime hahha and yeah they carry VISA ,MasterCard, and AMEX. Congrats on your unexpected approval
@bluedog1 wrote:BofA is one of the "Big Four" banks along with Chase, Citi, and Wells Fargo. I would consider any of the cards in their main lineup to be prime. Most big banks also offer student cards and new to credit or rebuilder cards. These may target people with lower scores or thin files but keep in mind that they will grow with you over time. This is very different from subprime cards where that rarely or never happens.
I don't know where you got the idea the BOA will usually "grow with you over time", Bluedog1, but that's not always the case.
I just closed my BOA 123 after having it converted from Gold a year ago. Had a fee, never secured, wouldn't remove the AF and never gave a CLI (was my lowest CL for years). I've tried as others have, to get the AF removed but after several attempts over the last couple years, I finally decided I wasn't paying it this year for a card that won't even give a CLI over the course of 5 years. So they lie in their advertising "1-2-3 cash rewards card, No Annual Fee", wrong.
There have been several posts how the BOA isn't the most friendly bank, for CLIs or treatment of their customers. I tend to tell people to avoid if at all possible.
Their products are mostly Prime, not all, but with a low CL, even with 5 figure CLs they don't treat their customers any better than subprime clients..... (they like corporate accounts) treat them like Cap 1 and once you move on to bigger and better cards, dump them. Actually, I prefer Cap 1 over the BOA, and that's a scary thought! I was planning on closing one of those, BOA earned the axe.
I challenge anyone who says a non-secured BofA is not a prime card to a duel!
Seriously, if you ask this question about Bank of America, you might as well ask the same question about Chase or American Express.
Bank of America is definitely considered as a prime bank. Some here are arguing that their cards do not grow with you, but neither do Chase cards.
Each bank has their own policies and there's really nothing to do about it than to abide by their policies. Some cards do grow if you have the income, usage and the ability to pay on time, though it may cost you a HP. It makes no sense for any bank to increase your CLI just to lower a customer's overall utilization, or for a customer to have a "high enough" limit so he can apply for other visa signature cards or to have his card upgraded to a visa sig.
@enharu wrote:Bank of America is definitely considered as a prime bank. Some here are arguing that their cards do not grow with you, but neither do Chase cards.
Each bank has their own policies and there's really nothing to do about it than to abide by their policies. Some cards do grow if you have the income, usage and the ability to pay on time, though it may cost you a HP. It makes no sense for any bank to increase your CLI just to lower a customer's overall utilization, or for a customer to have a "high enough" limit so he can apply for other visa signature cards or to have his card upgraded to a visa sig.
+1. This is what I meant by BofA "growing with you." Now with Cap One even if you fit the profile for an increase you won't get one unless you jump through hoops with the EO. Each of us has different experiences with these banks. I'm not impressed with Amex but BofA has always been excellent to me.
On the sidenote, GE backed cards seems to "grow" the best with a customer. Their CLIs are frequent and generous, if thats what anyone here is looking for.
Other banks depends on your payment history and what not. Some banks want to see a valid reason behind a CLI. For example if you have 2k CL card but you spend on average 300 each month.......There's obviously no need for a CLI other than to pad your utilization ratio,
Been 15 years with BoA...
started with a student card /w $500
went up to 8k over they years.. all auto-CLI