I was sent a BOA US airways pre qualified plat CC offer, all i had to do was go online and put in a promo code and they give you a yes or no right away. Well they gave me a yes, to the tune of $7500 cl, my problem is they pulled Experian i have a 762 fico with them, my TU and EQ on the other hand is 630ish. -My question, do you think they will pull the others in time and if they see lower scores and some derogs will they take the card back? I called today and they said they would have the card sent within 48 hours? One more question do you think i can trade the Plat for the Gold card? The annual fee is kinda high on the Plat. Do they pull another CR to do this? Thanks for your reply. Lucas
I got approved for one card based on TU, and everything was cool for a while. Then, they finally used Experian for an account review, and the honeymoon was over. I have gotten repriced twice based on Experian, which has more derogs than TU. So I think any potential problems are most likely to arise at the account review stage.
What do you mean you got repriced, can you explain what happened, also how long did it take before you got reviewed? Thanks Lucas
Congratulations!!. I think you won´t have any problems and will receive the card with the 7.5k limit. I think that you can call after receive the card to upgrade or change to the bofA Platinum Visa
Repricing refers to a change in account terms, where they mail you a new agreement. Then they say that if you close the accounts, the old terms still apply, but if you leave the account open or use it while closed, the new terms will apply automatically. Unethical, but apparently hard to challenge legally. Chase raised my variable rate from Prime+1.4% to Prime+7.99% to Prime+11.99%, which is now 16.24%. I think the first repricing showed up after about a year, and the second about a year after that. Repricings are often based on pulling a different credit report that that used for initial approval.
Thanks for the quick reply rich guy, one more question, do you think BOA would drop the CL or take the CC from me all together, after the reiveiw the others bureaus? Thanks Lucas
Lucas, I don't know BofA very well, but I think they're less likely to reprice than some other banks. I think it's highly unlikely that they will check another credit bureau before mailing the card. If BofA pulls another report later and sees a lower score, I don't see them taking away your credit card or lowering your credit limit. They may reprice, but I think the odds are against it. I think that theirs was an honest offer of credit, that they are willing to rely on a single credit bureau for now, that few banks check all 3 credit bureaus before issuing credit cards, and you have little to worry about for now. It was their decision to offer you credit, and you aren't getting into trouble by accepting it. If repricing takes place, it will be sometime in the future, because their usual pretext is that your credit has changed, and it isn't plausible for them to claim that it changed overnight. You have a while to improve your Equifax and Trans Union scores, making a repricing even less likely. I wish you the very best with Bank of America. Enjoy your credit, but never depend on a single bank. If you have several prime credit cards with low overall uitlization, then your chances of getting repriced are lower. Most banks that reprice are basically bullies, picking on helpless people. And most bullies are basically cowards. If you scare them off with high payments, low balances, and a balanced mix of credit accounts, they probably won't even try to approach you with any repricing scams.
