RobertHanson

Ok, but when did she apply? This supposed new policy is only a few days old, and we all know that B/A takes weeks to get a new card to you. It could be that she was approved before this policy took effect. Or the report of it could just be another unfounded rumour.

RobertHanson

We will know soon enough as more folks who are over 3/24 apply and either get approved or not. Who wants to take one for the team?

RobertHanson

OMAAT has a new post up today, saying the original report a week ago was by Doctor of Credit, who has now had it "confirmed". It is 2 cards per "rolling" 2 months, 3 cards per rolling 12 months, and 4 per rolling 24 months. Unlike Chase, a CSR can override this, but that's not likely to happen. Some people lately have had their apps initially approved, then had them cancelled shortly afterwards, saying the approval was "done in error".

Unlike Chase, this only applies to B/A cards, not cards from anyone else.

beachfan

applied September 30

RobertHanson

Hmmm.... That's interesting, since the original DoC post about the new policy was on Sept 27th. Maybe DoC was given a heads up about the new rule before it was implemented. Maybe B/A decided to make her an exception, but not likely since the post stated that would be rare. Or Maybe this isn't a hard and fast rule, but more YMMV. Or finally, maybe it's not valid at all.

We need more DPs, and I've got to let my HP count cool off right now. As I asked before, who wants to take on for the team?

Him800

I was applied Alaska business card October 2 didn't get approval so call the recon they offer a security deposit for $1,500 to open the businesscard. my scores are all there over 780. just got approved chase ink 35k, amex business blue 17k and business gold. I thought Bank of America easy bank to getting credit cards from. I guess not.

RobertHanson

If you "just got" 3 new ccs, and then got approved for an AS bus card, I say yes, BA is an "easy bank to getting credit cards from". Banks like USB and Barclays would have denied your app just based on your having gotten those cards in a short period of time. As for the $1500 cd, several people have been told the same thing. Not really a big deal unless you don't have the cash to put on hold for awhile.

sdsearch

This person got conditionally approved for a "secured" business card (secured $1500 CL based on opening a $1500 CD). That's not so "easy", is it?

Meanwhile, BofA has just tightened up, but only on people getting multiple BofA cards, not on people getting cards from other banks (only Chase looks at new cards from other banks so far). So it's still relatively "easy" if you only want 1 or 2 BofA (personal) cards now and then, it's no longer easy if you want a bunch of BofA cards.

RobertHanson

Of course, but the OP made it pretty clear it was his first B/A app, so the new 2/3/4 policy didn't apply in this case. What did apply is that the B/A app was the 4th in a short time, which would have been auto-denied by a number of other banks for that very reason. To get approved as the 4th app in an AoR at the current time does seem "easy" to me. To experience the difference, the OP could now apply to USB, Barclays, TD, or CapOne. The auto-denials will be so fast as to make his head spin.

Him800

you are right, I did applied Barclay red AAdvantage then chase business, USB business, boa business. So far boa deny with 1500 cd, USB still in progress.

Him800

I did put 2k in santander bank business checking for $500 bonus and 15k in chase for $500 bonus and 1k in key bank for $200 bonus but $1500 cd for $1500 credit limit from boa NO THANKS. PS I WILL BE BACK BOA. Lol

sdsearch

But what's not necessarily easy is that all you get for opening that $1500 CD is a $1500 credit limit. Which requires prepayment trickery if you intended to put a big purchase on it. And in case you've not used BofA business card online payment system, you might not remember how much of a pain it is (I have to keep spending time declaring that I'm resolving a payment request for $0.00 because it's a zero balance, there's no other bank at which I have to dismiss those with so much work).

So compared to getting approved for the card with a decent CL and none of this "open a CD" garbage, I'd say it's comparatively less easy. (Though it's still way easier than getting approved for a Platinum personal and then having to spend two months going through the steps to have it raised to a Siganture personal .)

sdsearch

While business credit cards themselves (from these banks, anyway) don't show up on credit report, the pulls from each card show up pretty instantly on credit reports, and so if all those banks pulled the same bureau, BofA could have seen that boatload of pulls right before and said almost "no thanks".

So just because applying for business cards seems to make you "invisible" if you do it slowly, it does not make you "invisible" if you try to do it too fast.

In fact, because hard pulls appear instantly these days, there is no longer any real advantage to applying for a bunch of cards "at once" from different banks (so called AoR, short for App-o-Rama), and there may be a disadvantage (when the last bank you apply for sees several other hard pulls that same day or even that same week or month).

RobertHanson

It's never occurred to me to put a large purchase on a AS card.

I've got a ton of cards that give me a much better ROI on spend. I just put a minimal spend on each card over the months I have it open to 'prime the pump' for the next app.

As for pushing a prepayment, I'd never try to do that from within the same bank. I pay most of my cc bills thru my WF checking account. Since WF has no idea if I owe anything or not with any other banks, and they just send the money over. I've yet to have any prepayment returned, and I've done it with AMEX, B/A, Citi, Chase, USB. Not usually bc of a low cl though. Most times I'm making a large charge just before the posting date, and I don't want that charge to post to the next statement.

While the major national banks will either charge you for a checking account, or require a large balance to avoid their fees, it's pretty easy to find a small local bank or credit union that will give you "free" checking, then pay your ccs thru that.

AugustWest

DP: I am 790+ with only one BOA card and was denied for the Premium card, even after a recon call. They said (plainly and politely) "too many recent accounts". So it is not just BOA they are looking at. FYI I am so far over any reasonable x/24 that x does not even matter. I do not know what too many means to them, but they look beyond BOA for sure.