Master / Wiki Bank of America-Fidelity-Merrill thread

[Konrad2012]

I’ve been getting ready to do some CLI’s and such, and have been compiling information on BofA - jotting down my own personal dealings (not feelings), combing through threads, sending PM’s, making phone calls to BofA CSR’s and having others try things in their phone dealings as well (thanks Uber).

 

I started to put together a repository of sorts and figured what the hell, I’ll just post it for everyone- present and future. Hopefully this can be a wiki-type post and people can add to or correct any of the below info.

 

This is an objective post, not subjective. I didn’t put this together as a “reason I <3 BofA” post, nor for someone to list a bad CSR experience. I also understand that in 2008-2010 BofA balance chased individuals. I cannot find any widespread evidence of that recently (within 4 years) happening. So please try to keep this as a what you can/can’t do post and leave feelings out of it.

 

Perhaps some info on how BofA treats BK's (how long since discharge is required for secured, how long since discharge is required for unsecured), how BofA treats people who burned them (do they blacklist) etc could be added.

 

 

 

Applications

BofA, Fidelity and Merrill all use the same underwriting and analyst departments.

 

According to the credit pulls database, BofA products pull from various CRA’s, even in the same state.

 

You can have multiple BofA products with little problem. If you already have any BofA/Fidelity/Merrill product and would like to apply for another product, you might want to do the application by phone. BofA is

notorious for taking credit line from one product in order to give you another product.

 

You cannot apply for two products with the same hard pull.

 

 

CLI’s

While Bob’s “Master Issuers who give Auto CLI’s” does list BofA and I have found several other examples, on the whole they do not appear to be common. A CLI will more than likely require a request. Some people get hard inquiries, some people get soft inquiries. So expect a hard.

 

Requested CLI’s have been granted in as little as 60 days since opening a trade line.

 

Requested CLI’s have been granted in as little as 60 days since the last CLI.

 

If you have more than one BofA/Fidelity/Merrill product and would like to request a CLI, you might want to do the request by phone. BofA is notorious for taking credit line from one product in order to increase your credit line on another product.

 

You cannot request CLI’s for two or more products on the same hard pull.

 

You cannot combine a new application for one product and a CLI for another existing product on the same hard pull. Doesn’t matter which one you try first. Maybe you get lucky and the CRA combines the pulls, but that is luck and not the doing of BofA.

 

With supporting income, BofA cards can have extremely high individual limits. I have seen reports of $100K.

[Konrad2012]

Product Changes

 

Product Changes are allowed on the BofA branded BankAmericards. So you can PC a Cash Rewards, to a Travel Rewards, to a Better Balance rewards to the low APR standard card. You cannot PC to the Affinity Cards (Susan Komen and World Wildlife). You cannot PC to the travel branded cards (AAA Members, Alaska Air, Norwegian Cruise etc).

 

I cannot find information where people PC’d a BofA card to a Fidelity to a Merrill. I cannot find information of people PC’ing between Fidelity cards. If anyone can correct this statement, please add.

 

You can combine/transfer limits between BofA, Fidelity and Merrill cards. You probably will have to accept a hard pull to do so.

 

 

Secured Cards

 

BofA has secured cards. These report to all 3 major CRA’s. These report as a secured card. Limits are from $500 to $10,000. If you want to increase your CL with an additional deposit, expect a hard inquiry.

 

While it is not advertised, you can get a secured rewards card if you call in and ask. 3% Gas / 2% Groceries up to $1,500 in spend per quarter. 1% on all other spend and that spend above the quarterly limits in gas/groceries. If you deposit the rewards into a BofA checking or savings, they will give you a 10% kicker.

 

The secured card has a $39 AF.

 

This card can graduate in <1 year. Your mileage will vary. I called the analyst to graduate mine. Since I initiated the procedure, it took a hard pull. (My reports were still very dirty with unpaid CO’s, a CA and a host of PR’s.) I received a 100% CLI with this same pull.

 

There have been reports when cards graduated, BofA left on the $39AF even when PC’ing to a no AF card. This can be changed with a phone call.

 

There does appear to be a correlation between an established banking relationship with BofA and approval on a Secured Card for people with ugly reports.

 

Contact Info

 

888.260.4696 (Secured accounts)

800.824.5895 (Secured & Partially Secured Accounts)

 

 

866.505.7481 (New Accounts UW/Analyst)

800.881.4730 (Existing Accounts Analyst)

 

704.386.5687 (Office of the CEO)

 

888.500.6270 (Credit Department fax)

 

https://www.bankofamerica.com/credit-cards/view-all-credit-cards.go - Bank of America card info

 

https://www.rewards.ml.com/RWDapp/ns/home?mc=ml - Merrill Rewards card Info

 

https://www.fidelity.com/cash-management/american-express-cards - Fidelity IR Amex

 

https://www.fidelity.com/cash-management/visa-signature-card - Fidelity IR Visa

Edited November 18, 2014 by Konrad2012

[Konrad2012]

Applications

BofA, Fidelity and Merrill all use the same underwriting and analyst departments.

According to the credit pulls database, BofA products pull from various CRA’s, even in the same state.

You can have multiple BofA products with little problem. If you already have any BofA/Fidelity/Merrill product and would like to apply for another product, you might want to do the application by phone. BofA is notorious for taking credit line from one product in order to give you another product.

You cannot apply for two products with the same hard pull.

 

 

CLI’s

While Bob’s “Master Issuers who give Auto CLI’s” does list BofA and I have found several other examples, on the whole they do not appear to be common. A CLI will more than likely require a request. Some people get hard inquiries, some people get soft inquiries. So expect a hard.

Requested CLI’s have been granted in as little as 60 40 days since opening a trade line.

Requested CLI’s have been granted in as little as 60 days since the last CLI.

If you have more than one BofA/Fidelity/Merrill product and would like to request a CLI, you might want to do the request by phone. BofA is notorious for taking credit line from one product in order to increase your credit line on another product.

You cannot request CLI’s for two or more products on the same hard pull.

You cannot combine a new application for one product and a CLI for another existing product on the same hard pull. Doesn’t matter which one you try first. Maybe you get lucky and the CRA combines the pulls, but that is luck and not the doing of BofA.

With supporting income, BofA cards can have extremely high individual limits. I have seen reports of $100K.

 

 

Product Changes

 

Product Changes are allowed on the BofA branded BankAmericards. So you can PC a Cash Rewards, to a Travel Rewards, to a Better Balance rewards to the low APR standard card. You cannot PC to the Affinity Cards (Susan Komen and World Wildlife). You cannot PC to the travel branded cards (AAA Members, Alaska Air, Norwegian Cruise etc). You can no longer PC to the Better Balance Rewards

 

I cannot find information where people PC’d a BofA card to a Fidelity to a Merrill. I cannot find information of people PC’ing between Fidelity cards. If anyone can correct this statement, please add.

 

You can combine/transfer limits between BofA, Fidelity and Merrill cards. You probably will have to accept a hard pull to do so.

 

 

Secured Cards

 

BofA has secured cards. These report to all 3 major CRA’s. These report as a secured card. Limits are from $500 $300 to $10,000. If you want to increase your CL with an additional deposit, expect a hard inquiry.

 

While it is not advertised, you can get a secured rewards card if you call in and ask. 3% Gas / 2% Groceries up to $1,500 in spend per quarter. 1% on all other spend and that spend above the quarterly limits in gas/groceries. If you deposit the rewards into a BofA checking or savings, they will give you a 10% kicker.

The secured card has a $39 AF.

This card can graduate in <1 year. Your mileage will vary. I called the analyst to graduate mine. Since I initiated the procedure, it took a hard pull. (My reports were still very dirty with unpaid CO’s, a CA and a host of PR’s.) I received a 100% CLI with this same pull.

There have been reports when cards graduated, BofA left on the $39AF even when PC’ing to a no AF card. This can be changed with a phone call.

There does appear to be a correlation between an established banking relationship with BofA and approval on a Secured Card for people with ugly reports.

Edited November 18, 2014 by Konrad2012

[MJPEREZ77]

With regards to CLI's. DW applied (8/31/14) and was approved (9/15/14) for BofA Visa Card (Plain Americard) w/a $3k CL. After 1st statement closed (10/15) and PIF, on the 16th, I hit the luv button on 10/20. Asked for a $7k increase, and was approved. Her highest reporting TL on a major CC was $11k and store was $12k. TU FICO was 716 (Barclay's) and it was a soft pull. Yet she was immediately declined for BofA Better Balance Visa app after CLI.

Edited November 18, 2014 by MJPEREZ77

[credithunting]

Well Done Konrad

[Konrad2012]

Well Done Konrad

 

Thanks. I already had most of the notes saved in a word doc, figured it wouldn't do anyone else any good sitting in my SSD

[mendelssohn]

Perhaps the best part about BOA/FIA is that you can get them to pull any CRA. EX seems to be the default, but if it's frozen, you just have to call and ask them to pull EQ or TU.

[Konrad2012]

Perhaps the best part about BOA/FIA is that you can get them to pull any CRA. EX seems to be the default, but if it's frozen, you just have to call and ask them to pull EQ or TU.

 

Credit Pulls is all over the place.

 

The pulled EX for my secured card 2 years ago, but then TU to unsecure it, and TU again for a recent CLI. Only for the recent CLI was EX frozen, but that was never mentioned so I doubt they even tried it.

 

But yeah, getting to pick your pull is almost too good to be true

Edited November 18, 2014 by Konrad2012

[Konrad2012]

Applications

BofA, Fidelity and Merrill all use the same underwriting and analyst departments.

According to the credit pulls database, BofA products pull from various CRA’s, even in the same state.

You can have multiple BofA products with little problem. If you already have any BofA/Fidelity/Merrill product and would like to apply for another product, you might want to do the application by phone. BofA is notorious for taking credit line from one product in order to give you another product.

You cannot apply for two products with the same hard pull.

 

 

CLI’s

While Bob’s “Master Issuers who give Auto CLI’s” does list BofA and I have found several other examples, on the whole they do not appear to be common. A CLI will more than likely require a request. Some people get hard inquiries, some people get soft inquiries. So expect a hard.

Requested CLI’s have been granted in as little as 60 40 days since opening a trade line.

Requested CLI’s have been granted in as little as 60 days since the last CLI.

If you have more than one BofA/Fidelity/Merrill product and would like to request a CLI, you might want to do the request by phone. BofA is notorious for taking credit line from one product in order to increase your credit line on another product.

You cannot request CLI’s for two or more products on the same hard pull.

You cannot combine a new application for one product and a CLI for another existing product on the same hard pull. Doesn’t matter which one you try first. Maybe you get lucky and the CRA combines the pulls, but that is luck and not the doing of BofA.

With supporting income, BofA cards can have extremely high individual limits. I have seen reports of $100K.

 

 

Product Changes

 

Product Changes are allowed on the BofA branded BankAmericards. So you can PC a Cash Rewards, to a Travel Rewards, to a Better Balance rewards to the low APR standard card. You cannot PC to the Affinity Cards (Susan Komen and World Wildlife). You cannot PC to the travel branded cards (AAA Members, Alaska Air, Norwegian Cruise etc). You can no longer PC to the Better Balance Rewards

 

I cannot find information where people PC’d a BofA card to a Fidelity to a Merrill. I cannot find information of people PC’ing between Fidelity cards. If anyone can correct this statement, please add.

 

You can combine/transfer limits between BofA, Fidelity and Merrill cards. You probably will have to accept a hard pull to do so.

 

 

Secured Cards

 

BofA has secured cards. These report to all 3 major CRA’s. These report as a secured card. Limits are from $500 $300 to $10,000. If you want to increase your CL with an additional deposit, expect a hard inquiry. Online applications are limited to $4,900. In branch apps still go up to $10,000

 

While it is not advertised, you can get a secured rewards card if you call in and ask. 3% Gas / 2% Groceries up to $1,500 in spend per quarter. 1% on all other spend and that spend above the quarterly limits in gas/groceries. If you deposit the rewards into a BofA checking or savings, they will give you a 10% kicker.

The secured card has a $39 AF.

This card can graduate in <1 year. Your mileage will vary. I called the analyst to graduate mine. Since I initiated the procedure, it took a hard pull. (My reports were still very dirty with unpaid CO’s, a CA and a host of PR’s.) I received a 100% CLI with this same pull.

There have been reports when cards graduated, BofA left on the $39AF even when PC’ing to a no AF card. This can be changed with a phone call.

There does appear to be a correlation between an established banking relationship with BofA and approval on a Secured Card for people with ugly reports.

[Kles]

BOA are pieces of crap!

 

I HATE them!! - When i began my credit repair journey in 2011, i opened up a secured card.. its now 2014 & EVERY time i call them to graduate they HP Transunion multiple times they deny me for "excessive inqs"! Even thou my TU has only 1 baddie - a CA from 2011..... off topic - i know im sorry... needed to vent

[Konrad2012]

Hahaha. When I just saw my wiki resurrected to the top I was like "Sweet, maybe the post actually helped somebody!" Ummm no.

 

What exactly is your baddie? What is your TU score that they gave you with your denial? Did you speak to a CSR or did you call the analyst department at the numbers provided?

 

Do you have a banking relationship with them?

 

How many TU pulls do you have? You know for $9.95/month TU pulls don't seem to matter very much...

[DevilsOwnLuck]

My BofA TR is a turd I intend to drop off at the pool in short order. HP for CLI and lowest reporting limit with no reconsideration LUV. Not to mention it carries the highest rate of all my revolvers.

 

Objective evidence not conjecture: Barclay limit for new account 3X higher than BofA. This is just one example.

[shifter]

BofA likes good risk borrowers.

 

If you don't fit, there's a great CU with your name all over it.

[mendelssohn]

My Fidelity Amex was the highest initial CL I've been approved for so far, even with dirty reports.

 

They did bring up the unpaid charge off from 7 years ago, but gave me $15K.

Edited December 11, 2014 by mendelssohn

[Kles]

Hahaha. When I just saw my wiki resurrected to the top I was like "Sweet, maybe the post actually helped somebody!" Ummm no.

 

What exactly is your baddie? What is your TU score that they gave you with your denial? Did you speak to a CSR or did you call the analyst department at the numbers provided?

 

Do you have a banking relationship with them?

 

How many TU pulls do you have? You know for $9.95/month TU pulls don't seem to matter very much...

Sorry.. lol!!

 

I've had BOA savings & checking since 2008 -recently closed the checking but kept the savings for my 123 cash rewarrds

 

The baddie is an $860 CA from Independent Recovery Service for a storage company

 

I've escalated all the way to the office of the president .. they offered to remove the inqs but no graduation

 

I've nerver gotten my fico...fako is 654

[Kles]

Hahaha. When I just saw my wiki resurrected to the top I was like "Sweet, maybe the post actually helped somebody!" Ummm no.

 

What exactly is your baddie? What is your TU score that they gave you with your denial? Did you speak to a CSR or did you call the analyst department at the numbers provided?

 

Do you have a banking relationship with them?

 

How many TU pulls do you have? You know for $9.95/month TU pulls don't seem to matter very much...

9 inqs ...5 of them from BOA

Whats 9.95?

[DevilsOwnLuck]

BofA likes good risk borrowers.

 

If you don't fit, there's a great CU with your name all over it.

 

 

I'd say 755 and clean reports w/ 5 TL in 5 digits reporting 1% is pretty good risk by CB standards. My CU lines are now 5X BofA.

 

In the interest of science, I do not have a CK SV or any other product with BofA.

[mendelssohn]

In the interest of science, I do not have a CK SV or any other product with BofA.

Neither do I.

[IndyPoolPlayer]

By clicking the "Submit" button, you authorize us to obtain a copy of your credit report and review your credit and employment histories and any other information that allows us to process your request, service your account and manage our relationship with you.

Sounds like it's always an HP for a CLI at BOA

[DevilsOwnLuck]

 

In the interest of science, I do not have a CK SV or any other product with BofA.

Neither do I.

 

 

 

No doubt. There are a few threads that highlight free luv for some, prison luv for others via BofA.

[Konrad2012]

 

Hahaha. When I just saw my wiki resurrected to the top I was like "Sweet, maybe the post actually helped somebody!" Ummm no.

 

What exactly is your baddie? What is your TU score that they gave you with your denial? Did you speak to a CSR or did you call the analyst department at the numbers provided?

 

Do you have a banking relationship with them?

 

How many TU pulls do you have? You know for $9.95/month TU pulls don't seem to matter very much...

Sorry.. lol!!

 

I've had BOA savings & checking since 2008 -recently closed the checking but kept the savings for my 123 cash rewarrds

 

The baddie is an $860 CA from Independent Recovery Service for a storage company

 

I've escalated all the way to the office of the president .. they offered to remove the inqs but no graduation

 

I've nerver gotten my fico...fako is 654

 

 

First, you should have gotten the FICO from your denial letter, and they'll give it to you over the phone.

 

Did you actually call and talk to the analyst department? Maybe a < 3yr unpaid baddy is a no go from them?

 

You probably should have kept the checking open in a minimal amount.

 

It sounds like this would be one of your oldest open revolvers, so don't give up on it. And that's not I love BofA advice, just advice.

 

SC is for TU B*. It can be had for $9.95/month. But that's for a whole nother thread.

[mendelssohn]

 

 

 

In the interest of science, I do not have a CK SV or any other product with BofA.

Neither do I.

 

No doubt. There are a few threads that highlight free luv for some, prison luv for others via BofA.

What was the CL they gave you?

 

What's your highest reporting limit?

[DevilsOwnLuck]

 

By clicking the "Submit" button, you authorize us to obtain a copy of your credit report and review your credit and employment histories and any other information that allows us to process your request, service your account and manage our relationship with you.

Sounds like it's always an HP for a CLI at BOA

 

 

 

That's the verbiage on my account and has been resonated throughout the master threads and otherwise.

 

Even with the excellent information provided by Konrad, some have it and some don't unfortunately.

[DevilsOwnLuck]

 

 

 

In the interest of science, I do not have a CK SV or any other product with BofA.

Neither do I.

 

No doubt. There are a few threads that highlight free luv for some, prison luv for others via BofA.

What was the CL they gave you?

 

What's your highest reporting limit?

 

 

 

$2500. Highest CL 15.2K. At the time it was 10K highest line(CU).

[ubercat]

I'm subscribed. I can't read this tonight - eyes are effing with me.

 

I can't believe I missed this thread. I gotta dig my notes up.