BOA 123 Cash Rewards

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
8 posts
DeeJay8385
Gold Member
Gold Member
 
Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

BOA 123 Cash Rewards

Postby DeeJay8385 » Thu Oct 23, 2014 1:19 am

Last night, I was a little hesistant to apply for the BOA Cash Rewards 123 @ 0% for 12 months, bc I applied for this card in January '14 and was denied and when I called the backdoor number, the guy said all he can do is approved me for a $500 credit limit and I declined due to have bigger limits on my other credit cards. So I filled out the app, and 60 seconds later, it said "Congratulations, your application has been approved with a CL of $5,000". I was shocked and happy. The last time I had a CC with BOA was back in high school 10 years ago and I wasn't responsible enough nor did I know how to use credit like I do now!

I'll be received a welcome kit and my new card within 7-10 days. So now my Barclaycard is my 1st HIGHEST limit and my BOA Cash rewards is my 2nd HIGHEST. It took me 3 years to get where I'm at today. I haven't missed a payment and paid ON TIME since I started to rebuild my credit in 2011. Thought I'd shared this with everyone :cool:
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14


User avatar
lobbythis
Centurion Member
Centurion Member
 
Posts: 637
Joined: Sun Sep 07, 2014 8:53 pm
Location: usa

Postby lobbythis » Thu Oct 23, 2014 2:17 am

Congrats. That's a great jump in one year. I'm with BofA too, but no where near that limit.

Also, I'm surprised by that CapOne secured card you have listed in your sig. All of your other cards look great. Why keep that secured?

User avatar
PlyrStar93
Centurion Member
Centurion Member
 
Posts: 410
Joined: Wed Jun 04, 2014 1:06 pm
Location: Chicago

Postby PlyrStar93 » Thu Oct 23, 2014 2:28 am

I guess OP is keeping that Cap1 secured because that's the oldest account and thinks if that card gets closed it would significantly lower credit score as you lose history. This is a very common mistake which I also had in the past.

Fact is AAoA will not decrease when closing the account, only available credit gets decreased, which may increase utilization and this is how closing an account affects score. The closed account stays on report so technically you are not losing history at that time. The closed account will fall off after 10 years and at that time your AAoA can get decreased and history gets lost, but meanwhile with very well established history it isn't a thing to worry about. With other cards with big limits, that Cap1 can pretty much be closed to rreduce fee.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Thu Oct 23, 2014 6:42 am

Wow! That's great. Congrats to you. I also recently got in with BoA but didn't really get a big starting limit.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4209
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Thu Oct 23, 2014 7:22 pm

I agree. Drop the secured card. You'll still get the benefit of the good history for 10 years. Even if you can manage to get the AF waived, you don't need a card without rewards. It's just one more risk for fraud and a headache. Simplify your wallet a bit.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

DeeJay8385
Gold Member
Gold Member
 
Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

Postby DeeJay8385 » Sun Oct 26, 2014 3:33 pm

Ok that's good to know. I know my utilization won't increase too much since I have a low credit limit on that secured card. My question is if I cancel my secured card, will that lower my credit score?
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14

User avatar
lobbythis
Centurion Member
Centurion Member
 
Posts: 637
Joined: Sun Sep 07, 2014 8:53 pm
Location: usa

Postby lobbythis » Sun Oct 26, 2014 4:13 pm

You could always PC it to something like a Quicksilver if you want to stay with them. Being with them for so long, I'm sure they'd give you a nice limit.

Been lots of good reports, at least on this forum, of them giving some great limits lately...including myself.

DeeJay8385
Gold Member
Gold Member
 
Posts: 44
Joined: Fri Sep 13, 2013 3:51 am
Location: Las Vegas

Postby DeeJay8385 » Wed Oct 29, 2014 3:25 am

lobbythis wrote:You could always PC it to something like a Quicksilver if you want to stay with them. Being with them for so long, I'm sure they'd give you a nice limit.

Been lots of good reports, at least on this forum, of them giving some great limits lately...including myself.


I tried to do a PC from my Secured card and they said it wouldn't be possible. I'll have to apply for one of their unsecured cards, which I'm not going to do. Also, BOA pulled my EQ CS and it was 718. Can't stress it enough, that keeping your balances low and paying ON TIME will yield better CS. I'm a happy camper now since I have the cards that I want :cool: but I will end up closing the Cap1 SECURED card since it will remain on my acct for 10 years and my other accts will already matured by then
FICO scores (myfico.com):
11/04/14 EQ 746, EX 712, TU 746
02/20/14 EQ 657,EX 649, TU 689


Current Cards:
Discover IT - 3/2013 $1,200; CLI 9/24/13 $1,500; CLI 12/26/13 $1,900;3/26/14 $4,400
Citibank TYP - 9/2013 $1,000 CLI: 4/29/14 $2,100; CLI 10/29/14 $3,400
AMEX BCE - 9/2013 $1,000;CLI 5/19/2014 $2,200;CLI 11/19/14 $6,600
BestBuy Store Card - 10/2013 -$1,000
Barclaycard Arrival MC - 1/2014 $2,500, Auto CLI 8/12/14 $6,500
Bank of America Cash Rewards - 10/21/2014 $5,000
Barclaycard Carnival World MC- 4/4/15 $3000

Closed Cards
Capital One Secure MC - $651 6/2011-10/29/14



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests