BankAmericard Credit Score and Approval Odds: What Actually Matters
BankAmericard Credit Score and Approval Odds: What Actually Matters
Learn the FICO score you need and other requirements for the BankAmericard credit card.
Written by
Holly Johnson
Holly Johnson is a money and insurance expert who has covered personal finance, credit cards and insurance for over a decade. She is passionate about explaining the ins and outs of financial products to consumers, and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love." She lives in Indiana with her husband and children.
You will likely need good to excellent credit (a FICO Score of 670+) if you want a chance at being approved for the BankAmericard credit card. Bank of America doesn’t publish an official credit score range it will approve, but applicants in the very good to exceptional range, 740 and up, tend to see the strongest results. With a FICO score below 670, approval becomes more difficult.
Key Insights
Applicants needgood credit, or a FICO score of 670 or above, for the best approval odds; strongest approval odds start with scores of 740+.
No penalty APR + a long 0% window makes BofA lean harder on your credit profile for approvals.
Your income, existing debts, recent credit inquiries, credit history length, and existing BofA relationship all factor in.
Prequalification uses a soft inquiry on your credit reports; this lets you check your approval odds without hurting your score.
Why Does This Card Skew Toward Stronger Credit?
The BankAmericard has several attributes that make it more difficult for consumers to get approved: a $0 annual fee, 0% intro APR for Intro APR for 21 billing cycles for purchases on purchases and See Terms intro APR for 0% Intro APR for 21 billing cycles for balance transfers on balance transfers made within 60 days of account opening, and no penalty APR. That last factor matters since most cards increase your interest rate if you pay your bill after the due date.
The BankAmericard gives you more leeway on late payments. A long interest-free window paired with a rate that can’t spike as punishment is a bigger risk for Bank of America, so it leans on your credit profile to offset that.
Bank of America also offers a secured version of this card for people building or rebuilding credit. If your credit score is closer to fair than good, that’s worth a look instead of applying for the standard card and risking denial.
What Does “Good Credit” Actually Mean?
The Fair Isaac Corporation (FICO) breaks FICO scores down into five separate categories:
Poor credit: scores of 579 and below
Fair credit: 580 to 669
Good credit: 670 to 739
Very good credit: 740 to 799
Excellent credit: 800+
The BankAmericard’s best approval odds sit in the top two bands. A score in the 670s can still work, especially with a clean payment history and low utilization, but it’s not the safe bet a 750 FICO score tends to be.
According to credit card rewards consultantColin Stroud ofGo Somewhere, that 750 threshold is pretty standard among the best credit cards on the market today. Stroud has helped hundreds of clients decide which card to get based on their goals, credit score, and other factors.
750 Opens Most Card Doors
Anyone with a score about 750 should be totally fine getting any premium card.
I've found the biggest approval problems are with people who already have multiple cards, or have applied for cards recently. It's smart to spread out card applications, and, if you want to get multiple cards, apply to banks that are known to be stricter first, before moving onto banks with more lenient approval guidelines.
Colin StroudCredit Card Rewards ConsultantGo Somewhere
What Else Does Bank of America Look At Beyond Your Score?
Your credit score is the main factor Bank of America looks at when approving you for a credit card, but it's not the only one. Your income and existing debts matter, since Bank of America wants to see you can handle the credit line without stretching yourself too thin.
Recent hard inquiries on your credit reports and new accounts you have can count against you if you’ve opened several cards in the past six to twelve months. A short credit history can also hold back an otherwise strong score. And if you already bank with Bank of America, checking and savings history included, that relationship can work in your favor during the approval process.
What Issuers Check on Your Report
When you apply for a credit card, issuers review your credit reports to assess the account balances across all your credit accounts, how much of your credit line you are utilizing, the average age of your credit accounts and your payment history.
They will also assess your income and your debt in relation to your income. For example, if you have five credit cards and have a high income, credit issuers may be willing to extend you credit.
Use Bank of America’s prequalification tool before you apply. It can help you gauge your approval odds with only a soft inquiry, so using it won’t cost you any points.
If you’re declined, wait and rebuild rather than reapplying right away. Each new hard inquiry can knock a few points off your score and make the next application look worse, not better.
Steps to help you improve your credit include:
Make on-time payments on all your bills. Since your payment history is the biggestdeterminant of your FICO score, make sure all your bills are paid early or on time.
Pay down existing debt you have. How much debt you owe is the second most important factor that makes up your FICO score, thus it can help your credit if you pay down revolving debt like credit card bills.
Keep old accounts open. Keeping old credit card accounts open (even if you pay them off) can extend the average length of your credit history.
Get credit for rent payments and other bills. Use a free service likeExperian Boost to get credit for cell phone bills, utility payments, rent payments, and more.
Before you apply anywhere, it’s worth comparing this card against thebest balance transfer cards to see which one fits your actual credit profile, not just the one with the longest 0% window.
Your Questions, Answered (FAQs)
Will checking my approval odds hurt my credit score?
No. Bank of America’s prequalification tool uses a soft inquiry to check your credit reports, which doesn’t impact your score. Only a full application triggers a hard inquiry on your credit reports.
Can I get approved with fair credit?
It’s possible to get approved with fair credit, but it's not likely. The BankAmericard is built for applicants who already qualify for its lowest advertised rates, so approval odds drop noticeably once your score falls below 670.
Does BankAmericard have a minimum credit score requirement?
Bank of America doesn’t publish a hard minimum, but approval odds drop sharply below a 670 FICO Score, and the strongest approval odds start around 740.
How often does Bank of America check my credit after approval?
Bank of America periodically reviews your account, but routine reviews use soft inquiries that don’t affect your score. Your score only takes a hit from the original hard inquiry at application.
Why Trust BestMoney?
Our mission at BestMoney is to make financial decisions less overwhelming. This article was produced by the BestMoney credit cards editorial team, which reviews and compares financial products to help readers make informed decisions.
Holly Johnson is a credit card expert, award-winning writer and mother of two who covers travel rewards and loyalty programs, rewards credit cards, loans, banking and personal finance. In addition to writing for publications like LendingTree, U.S. News and World Report Travel and Travel Pulse, Johnson owns Club Thrifty and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love."
DisclosuresBestMoney may receive compensation from some of the card issuers featured on this page, including Bank of America. This may influence which products we cover and where they appear, but it does not affect our editorial evaluations. Not all card offers available in the market are included. Card details are accurate as of publishing date and are subject to change. Your APR will depend on your creditworthiness. Terms and conditions apply. See the issuer’s website for current rates, fees, and full terms. All cards are subject to credit approval. Prequalification is not a guarantee of approval. Checking prequalification uses a soft inquiry that won’t affect your credit score; submitting a full application results in a hard inquiry. Examples are for illustration only and are rounded. They assume no additional purchases, on-time payments, and no other fees. Your actual costs will depend on your APR, balance, and payment behavior.
Written byHolly Johnson
Holly Johnson is a money and insurance expert who has covered personal finance, credit cards and insurance for over a decade. She is passionate about explaining the ins and outs of financial products to consumers, and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love." She lives in Indiana with her husband and children.
