Answers
I think it is good that I have this availble cash, because i was able to pay off other debt, and keep the loc balance low. I s this unsecured loan good for people who dont own a home?
I don't think any debt is good... You end up much better off to save your money and invest it in something like a mutual fund. Your money grows and you aren't slave to someone like Bank of America.
Via Bloomberg: "Bank of America Offers Loans to Republic for Workers By David Mildenberg Dec. 9 (Bloomberg) -- Bank of America Corp. will ...
Sometime ago I applied for business LINE OF CREDIT through Bank of America. The guys took there own sweet time and when I already found a solution, they approved me.
My question is, would it affect my credit history in anyway, if I keep the line of credit and dont use it? OR you would suggest to simply reject their offer and close the allocated line of credit? Any help will be appreciated. Thanks
It will affect your credit history - first, it's an application for credit, second, it will reduce your new credit availability - even though they approved you, if you haven't signed the final paperwork it isn't done, so you should be able to reject their acceptance to have minimal damage to your credit.
Just curious if anyone had requested one on their credit card with bank of america and how long this generally takes to reflect online.
It's good news folks for all Bank of America fans. Open your arms to receive the Rewards American Express Card from Bank of America. What makes this credit card special is that it will be readily accepted across the global network of American Express . Proudly called the Bank of America - Rewards™ American Express Card, it brings together the goodness of both the Bank of America and American Express. Let us look at some of its features.
Basic features highlights
1. 0% Introductory APR (Annual Percentage Rate) on balance transfers and cash advance checks for first 12 billing cycles.
2. Low fixed interest rates after the introductory rate has expired.
3. No annual fee.
4. Option to pay over time.
5. Emergency services such as replacement of prescription, physicians, hospitals, and referrals as well as legal referral services.
6. Extended warranty protection on purchases from scheduled outlets
7. Insurances for accident, damage and rental loss, while traveling
8. Protection against damage or theft of the card
Read more from: http://www.credit-card-gallery.com/artic le/228,15_simply_great_features_of_Bank_ Of_America_Rewards_American_Express_Card
anyone has any good deal
just applied the BOA credit card and it gave me 0.00 APR and only 3 % transfer fee
but the credit line is so low
can anyone one think about any credit that gives me the same?
That appears to be about the best around these days. transfer what you can, and pay off the debt...
On 2 lines of credit. BoA canceled a 10K line and citi canceled a 4K line. I have 720+ Fico... never late on any payments. This is horrible since I need the liquidity to fund a marketing campaign for my self employed business. I have some available limit on anothe BoA card and I am planning on doing a cash advance before they slash that too. Anyone had a similar experience?
Might check your available CASH limit on that remaining card becasue others have complained their available cash has been slashed even further than their overall limits.
Call both and see if you can get a reversal. The criteria is being set by computer and in some cases overturned by the card company.
Anonymous Banker : Bank of America and Chase commit to increase ...
As you all know, I’ve been an ongoing supporter of the need for banks to step up to the plate and lend to Small Business. Credit availability to the small business sector is a necessary component to our nation’s economic recovery.
The History of the Small Business Credit Line
But I am also a banker, and as such, recognize the need for safety and soundness in lending. I blasted the industry over the last decade when they foolishly disregarded prudent lending practices, leaving the door open for business “ liar loans ”. During that time, a business owner could obtain a small business revolving credit line for up to $100,000 by completing a one page application. They didn’t have to provide any verification of personal income or business revenue. They didn’t have to substantiate a profit or the ability to repay the debt. The loan commitment was based almost entirely on the credit score of the individual owner/guarantor. In that era, if you had a pulse and a credit score of 700, you could go into any big bank and get a loan for up to $100,000. Well, okay, there was one other criteria: the loan amount was typically limited to 25% of the businesses STATED revenue. Everyone knew that if you STATED that you had $400,000 in business revenue, you could qualify for a $100,000 business credit line.
...News
New Chief at Bank of America Seeks Credit-Card FixWall Street Journal - Dec 29, 2009
1 small-business lender it offered unsecured credit lines of up to $100000 to start-ups, some in business for only one day. Bank of America's small-business Bank of America's New CEO Seeks Credit-Card Fix (BAC, JPM)all 16 news articles »Chicago Sun-Times - Dec 29, 2009
At the peak of the housing boom in 2006, banks made $430 billion in home equity loans and lines of credit, according to the trade publication Inside and more »NPR (blog) - Dec 30, 2009
Morning Report: UK Sees Weakest Economic Growth Since 1940'sMeantime, Bank of America's new CEO says he'll pull back on the credit card business when he takes over next month. Bank of America is the nation's and more »BusinessWeek - Dec 17, 2009
ReutersWant a credit card with a line up to $50000? Check out Bank of America or Chase Bank. Here's how their process works: You will be asked to STATE your Another $1 billion in small business credit vanishesall 122 news articles »
Bloomberg - Dec 30, 2009
Bank of America Corp. Merrill Lynch's Global Broad Market Corporate Index, covering securities due between one and five years, has climbed 13 percent thisUS Banker - Dec 29, 2009
He adds Geezeo has also built a cross-marketing platform for institutions - a bank that wants to offer a home equity line of credit in a targeted fashion,OregonLive.com (blog) - Dec 26, 2009
June: Despite great credit and a seven-figure retirement nest egg, Wells Fargo turned the Stanbros down for a $10000 line of credit.