Just under 30% instant approval!!!!

Looks freakin great to me!!!!

To bad you won't do biz apps

win333 said:Just under 30% instant approval!!!!


Looks freakin great to me!!!!

To bad you won't do biz apps

I did apply for 4 biz cards, 2 were approved (no CL info given) and 2 were deferred.

Hindustani said:djspray said:
I'm almost certain I put in HHI on my Lifespring. I could be wrong though.

Really? I tried the app again till the last page and I did not see it anywhere. Did you do the app over the phone?
Well I'll be darned. It doesn't ask through the link I tried either (prolly the same). It was the first app I submitted, so who knows, all those forms start to look the same after a while...

djspray said:Hindustani said:djspray said:
I'm almost certain I put in HHI on my Lifespring. I could be wrong though.

Really? I tried the app again till the last page and I did not see it anywhere. Did you do the app over the phone?
Well I'll be darned. It doesn't ask through the link I tried either (prolly the same). It was the first app I submitted, so who knows, all those forms start to look the same after a while...

ok, that makes me relax a little I was worried I may have forgotten to fill in the HHI on the app or maybe used the wrong link for the app. They haven't pulled my credit report yet, so if they pull EX or EQ they will see atleast 10 inquiries on each. I hope they pull TU.

Jagd said:I'd would give the WAMU ESPN card a shot

WAMU ESPN

it seems more mainsteam than WAMU/Providian's usual offering (Everybody watches ESPN right?)

it has a 6 month fee-free BT + 0 % on purchases for 6 months

I submitted an app with a 10k bt request and they approved me for 14k immediately
I did have an existing WAMU card with a 5k limit though so not sure if that is a + or a -.

I'm surprised you applied for to BofA. I left them off my last AOR because MBNA billpay is way too valuable to loose.

I had WAMU on my list to start with but ended up removing it after getting bad feedback on the CL they give.

I don't use MBNA billpay. I know the risk involved but I have about $65k CL with BofA now and wanted to see how I could use it if I wanted to.

cardjuggler said:- no Elan? There used to be lots of banks with 0% x6, though I haven't kept up to date.

Seems like all of the Elan/US Bank offers have gone to uncapped BT fees - personal and business. However, you can always try this on the US Bank Baylor card.

If someone finds something to the contrary, please post!

I have been having pretty good results employing a "rolling 0%" strategy on my BOA NEA card. The $30 transaction fee is worth it for me to run most of the time at 100% utilization on a $42k limit, all the while keeping my reported revolving balances down.

I have been making payments via personal check in the branch on the due date, (one day before statement date). Then about couple days later (as soon as I am sure statement has cycled,) I deposit one of the numerous BT/cash access checks that BOA has sent me into my WAMU high-yield savings.

Another benefit from doing this: 100% "high balance" is now being reported on the account. If I decide to reallocate the credit limits to another BOA account in the future, that "high balance" figure for this account is going to keep on sticking in my credit report.

Although access to the complete deposited amount is delayed for a little over two weeks, interest begins accuring from the day of the deposit. When the time comes and I am ready to make a payment, I do an online transfer from WAMU savings to checking (which happens immediately) and repeat the cycle.

Before I adopted this strategy, I took out 89% utilization and left it at that, but I later realized how considerably that hurt my credit score. I found my score got quite a boost as the reported utilization went down; and I have been progressively leaving less and less utilization reported on the account - first to 69%, then to 49%, then most recently to 29%. Each time a lower utilization was reported, I found my FAKOs generally significantly boosted. (Most recently 750, 804, 790 FAKOs, I think the 750 transunion FAKO is penalizing me for my primary mortgage and/or student loan installment accounts.)

I have tried for a couple CLI requests but have been denied... maybe BOA sees what is up with this? Although they haven't told me that is the reason why. They simply say my "overall exposure is high enough for my stated income". No adverse action. I have not tried for a CLI since they supposedly got more generous in their credit limits granted, about two months or so ago. (As reported In the BOA CLI in crack? thread.)

Best of luck

lhendricks92
Do you choose not to use it, or do you not have access? If you have it, I HIGHLY recommend using it instead of BTing with BofA. You will essentially be hiding your BofA balance from BofA (and everyone else, of course.) See jaircon's adverse action in his thread for more details.[/Q said:

Couldn't find jairocon's thread on adverse action

jakeru said:Hindustani said:
Couldn't find jairocon's thread on adverse action

Perhaps this one.

I found this one but it is about his AOR. I thought lhendricks92 was pointing to some other thread about adverse action. Anyways I will go through the entire AOR thread later today

For a rolling BT strategy, you need a sufficiently large credit line to outweight the transaction fee cost, if there is one.

I agree that for a $75 transfer fee, the strategy wouldn't be viable for non-MEGA credit limits, because you'd be sacrificing lots of profits. However it might be viable with a mega credit limit >$50k. A better option would be a BOA card with a lower transaction fee... or a negative transaction fee (BT transaction reward... keep reading for what I might have found here!)

There are various BOA cards with $0 transaction fee, and 0% for 6 months. For example, the "plain vanilla" non-Worldpoints Platinum Plus Mastercard. This card used to be available with 0% for 12 month terms in an online application, however the application is no longer valid. (May be available via phone application if you get a generous CSR.)

One BOA card that has interested me for "rolling 0%" strategy is the BOA Efectiva; one offer I saw recently was advertised with un-monthly-capped BT rewards! It's got a 6-month 0% term, and a $600 annual rewards cap (the BT rewards if I am reading correctly, accrue at a .2% of net BT amount... so $50k for 6 months, or $300k net BTs would get you the full rewards.) That's a nice profitability boost over a 6-month 0% term to the interest.

Compared to "BT and hold" 50% utilization on a $50k line (where you might make about $600 interest in 6 months) if you rolled the full 100% utilization of that $50k line, you'd not only make double the profit, but the $600 in BT rewards would get you about triple the overall profit. All the while enjoying the benefits of less reported utilization on the credit report! If I didn't have 4 months left of 0% on my NEA card, I might have already given this a try.

The BOA NEA card I am using, with the $30 transaction fee and 0% for 12 months, by the way, is still available. "Rolling" about $10k is needed to break even with a 25% tax bracket and a 4.75% savings account. BOA is REALLY EASY to reallocate all your credit lines with them onto one card with.

I agree the CapitalOne with the "purchase checks" with grace periods and no fee is a great card for rolling BT strategy. I find that you can use the capital one's online banking to pay them off one day before statement close. (You need to login and set it up on the day that you want to pay, if it's after the due date, however.) I was disappointed it seems since the wife's Cap1 account got a 0% 6-month "upgrade" applied to it, that it seems they cut off the stream of purchase checks. Might have to start revolving a balance through statement close now... bleah.

OK... maybe getting a bit off topic here with the rolling BT strategy thing. We now return to Hindustani's AOR