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Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

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arifjk
Frequent Contributor

Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

I was declined at first at the time of application on Sunday night (04/02), but then today, Wed (04/05), I got a congratulation email stating that my business CC application was approved by BofA. Confused but happy. This is the first business CC application outside AMEX that I tried to apply. Do not know what the APR is but I logged in my personal checking and found out the card already showed up with $22,500 SL.

 

BTW, Does this BofA Biz CC report to any business credit bureau? I am hoping this can help me apply for Citi Business Costco Card since I was declined back in January this year. 

 

BofA CCR.png



AVEN Visa $80k; BCU LOC $50k; PSECU LOC: $20K; Langley FCU LOC $10K; CuSoCal LOC $25k; BECU LOC: 15k; Apple FCU LOC $20k

Message 1 of 16
15 REPLIES 15
JoeRockhead
Senior Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

Yes it should report to your Biz credit,  not sure of reporting frequency. Very nice SL and approval, congratulations! 

Message 2 of 16
SouthJamaica
Mega Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards


@arifjk wrote:

I was declined at first at the time of application on Sunday night (04/02), but then today, Wed (04/05), I got a congratulation email stating that my business CC application was approved by BofA. Confused but happy. This is the first business CC application outside AMEX that I tried to apply. Do not know what the APR is but I logged in my personal checking and found out the card already showed up with $22,500 SL.

 

BTW, Does this BofA Biz CC report to any business credit bureau? I am hoping this can help me apply for Citi Business Costco Card since I was declined back in January this year. 

 

BofA CCR.png


Congratulations Smiley Happy


Total revolving limits 710800 (590300 reporting) FICO 8: EQ 712 TU 710 EX 710

Message 3 of 16
TMDSCT
Regular Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

Congratulations on the approval and the nice SL!

Message 4 of 16
ADMYFIC0
Valued Member

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

Congratulations!

 

I had pleasant experience as well, last week - in fact, just 2 days before you submitted your application.

 

I started with a secured Business Advantage Travel Rewards World Mastercard® credit card ($1,000) , then got unsecured around Sept '22

https://ficoforums.myfico.com/t5/Business-Credit/Secured-Business-BofA-cards/m-p/6594948/highlight/t...

Had since requested for CLI several times, no go!

 

Tired of waiting, on 03/31/23, decided to submit an application for Business Advantage Unlimited Cash Rewards Mastercard® credit card, approved for $22,500. And while there, decided for Business Advantage Travel Rewards World Mastercard® credit card, approved $11,000, and then again for Business Advantage Customized Cash Rewards Mastercard® credit card, approved for $11,000.

 

Transunion pull - shows only 1 hard inquiry.

 

As for Citi Business Costco Card (I don't have the card), Citi Business also checks/relies on personal credit history. I have had no luck with Citi Business as well, while no issues with Citi Prestige/Citi ThankYou Preferred, and other Retail Services Commercial cards.

 


BofA Approval.png

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Message 5 of 16
TyrannicalDuncery2
Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

Congrats! (Came back here because research)

Message 6 of 16
URHomeInvestments
Regular Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

So @TyrannicalDuncery2  What is your next application going to be? 

Message 7 of 16
URHomeInvestments
Regular Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

I'm stunned at the number of LOCs you have amassed, @ADMYFIC0

Any tips for BLOC applications? I'm waiting on business tax returns before I go app again. 

 

I'm not sure how I missed your spree narrative from that year, but those were some mighty credit limits. I know nothing about the Business Advantage cards, so I'm off to learn more. 

Message 8 of 16
TyrannicalDuncery2
Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

@URHomeInvestments I'm not ready to do business cards yet, plus I didn't realize that business preferred rewards is separate from personal. I don't yet understand the implications (if any) of holding a lot in a business brokerage account. If I go the business route, I think it will be in 2025 and I'll likely start with Ink Cash.

Message 9 of 16
URHomeInvestments
Regular Contributor

Re: Declined and then Approved - BOFA Bus Adv Customized Cash Rewards

@TyrannicalDuncery2 side gigs count for business cards, if you have any money making activities that you do, even if small. I watched a lot of Mark J Kohler videos of how to form and grow a business from a side gig, onwards.  


As for business cards, I got a small business CC from TD bank prior to finding this site ($6k to start). It reports to personal, so I didn't really help myself much. The Ink was the first purposeful business card I applied for and it has been a zinger. (Up to $23k or so in around 3 yrs)  

I have done rental houses, fix and flips, AirBnb and so forth. I almost always need an A/C unit or stove or something, which keeps me here always digging...and paying forward. Smiley Very Happy

 

Message 10 of 16
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