How long does it take to get a credit card from Bank of America

The Bank of America is an American bank with its headquarters in Charlotte, North Carolina. It serves about 11% of all American direct deposits, making it the second largest bank in the US. It is also the second largest investment and financial services platform within the global market capitalization.

The Bank of America works as a corporation, allowing many to access its financial services globally through different branches.

Since it caters to millions of customers simultaneously, the Bank of America ensures its customers access better services. Applying and using a credit card from the Bank of America is a better means for customers to access money. Getting a Bank of America credit card will require approval for about 4- 6 business days.

Several other factors, for example, your credit score, affect your legibility for a credit card application to the bank.

Additionally, consumers who wish to replace their credit cards can do so quickly, although additional fees may arise. The approval process may take longer for others while some may get instant approval for their application. Therefore, this article will guide anyone who wants to apply for or replace their Bank of America credit card.

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Key Takeaways

·         After application, it can take up to 6 business days to receive a working credit card from Bank of America.

·         Getting a replacement Bank of America credit card or a new card can also be done through online and mobile banking

·         You will have to meet the bank’s requirements to apply for and receive a Bank of America credit card, for example, age

·         After the application is a success, the bank will send the credit card by mail, which takes about ten business days. However, expedited delivery may take 1 to 2 business days for the Bank of America credit card to arrive by mail.

How do Bank of America Credit Cards Work?

Bank of America

Since Bank of America works as a banking institution, it can offer credit cards to customers who apply for them. Therefore, only customers who are fit to receive a credit card are legible to apply for one. Additionally, Bank of America offers different types of credit cards that meet the different needs of different customers.

Thus, consumers will need to fill in the information depending on what type of card they need for their use.

Generally, credit cards work by allowing the cardholder to borrow some funds which consumers pay back at a fee. Unlike debit cards, credit cards do not link to your bank account, and the cardholder will repay funds after use. Additionally, the bank allows cardholders to access funds through ATMs, convenience checks, or bank tellers.

Any Bank of America credit card offers a specific limit of funds that the cardholder can borrow.

After the consumers are approved for a Bank of America credit card, they can activate their card online before use. Therefore, the consumers can pay for different purchases across the globe, in stores or as they travel. Some Bank of America credit cards allow the consumer to make transactions for free. However, you can visit the Bank of America credit card page on the ban’s site for further assistance.

Is there a  difference between a debit card and a credit card?

debit card

Credit and debit cards seem similar since they have almost the same features, like a 16-digit card number. It is easy to conduct transactions and online purchases with cards since they offer contactless payments. Even though Bank of America provides both types of cards to its customers, they perform different tasks.

You should have a bank account with Bank of America to obtain either of the cards.

A debit card is a card for making a personal purchase or payment directly linked to your bank account. Thus, you will use the money from your checking account, not credit, to complete your transactions. However, you can apply for overdraft protection, allowing cardholders to use more money than is currently in their account.

Hence, it is easy to avoid debt when using a debit card than when using a credit card.

A credit card is a card the bank offers to allow an individual to borrow funds from the bank. Bank of America has different types of credit cards that they offer their customers, depending on a variety of factors. You will have to apply and wait until you are approved for a credit card by the bank.

The bank will offer additional agreements the cardholder must adhere to when paying back credit.

The main advantage of a credit card over a debit card is that it will help you build credit. Good credit is essential when you need extra credit and funds from the bank, such as a mortgage. Since debit cards allow you to spend money from your account, they cannot grow your credit scores.

Also, a credit card is more secure than a debit card to avoid scammers by using a virtual card for online purchases.

What Type of Credit Cards does Bank of America Offer?

Bank of America credit card logo

The Bank of America has several types of credit cards that can suit the needs of different customers. Credit cards have different credit limits and interest rates that work according to the customer’s abilities. Credit cards allow customers to build better credit scores, facilitating access to more financial benefits.

Therefore, customers will need to achieve the set requirements by the bank to apply for a credit card.

Both individuals and businesses are legible to apply for and use credit cards for purchases, business, or travel. Different customers can get different sets of credit cards even though their credit scores might be similar. Also, most credit cards from Bank of America have no annual fees, making it cheaper to use the card.

Before applying for a specific credit card, know what it entails, including the fees payable while using the card.

Reward credit cards have a rewards program that allows cash backs or discounts during purchases or travel. Thus, the program allows you to earn more points as you use your credit card frequently. However, reward credit cards may have annual rate fees and require users to have a higher credit score than average.

Late payments of the credit funds may affect your reward points or remove the points you earn.

To learn more and get further information on Bank of America credit cards, visit their website by clicking here.

The Best Example of Bank of America Credit Card Offers in Each Category

Bank of America has various credit cards that customers can choose from, depending on their needs. It does not matter whether you have bad credit; Bank of America will have a suitable credit card for you. However, you should fill in accurate information and submit the correct details to the bank during the credit card application. That way, Bank of America will gauge your financial capabilities and help you and your needs.

The best examples of Bank of America credit cards include:

1.      Bank of America Customized Cash Rewards for Students.

It is never too early to build a good credit score, even before you finish your studies. The Customized Cash Rewards credit card is the best pick for students, and they earn cash back after transactions. The card has a 0 annual fee rate and 0% introductory APR and balance transfer fees for 15 months.

Therefore, students will build their credit as they enjoy significant benefits from using credit cards for personal finance.

However, the card has a variable APR of about 17% to 25%, which can negatively impact a person’s credit score. Also, a 3% foreign transaction fee may be too high for international students who use the card daily. An applicant will require a FICO credit score of between 670 to 850 to apply for the card.

Generally, the customized student credit card acts as a great start for one to build credit for future benefits.

2.      Bank of America Customized Rewards Secured Credit Card.

The Customized Cash Rewards card is the best secured credit card due to its reward program and 0 annual fee. Unlike the Bank Americard Secured card, the Customized Cash Rewards card has better rates, unlike cards with competitive rates. Therefore, if you have bad credit, apply for a Customized Cash Rewards Secured credit card to boost your credit score.

Also, the bank can upgrade your card to an unsecured one if you use the card responsibly.

However, the card has a variable APR of about 26%, which is higher than most credit cards. Also, you will have to deposit a minimum amount of credit deposit during application since it is a secured credit card. The bank does not allow applicants to pay the credit deposit in installments, which might be high for some applicants.

Generally, the credit card is the best option for those wanting a secured credit card.

3.      Bank of America Customized Rewards Credit Card.

The Bank of America Customized Rewards card is an unsecured card where you do not need to pay a deposit. Unlike a secured card, the bank will not require the applicant to pay a credit deposit during the application process. The Customized Cash Rewards card has a 0 annual fee and an elaborate reward program.

Although it has a high APR, the bank offers a 0% introductory offer for purchase APR and balance transfer APR.

However, the card carries limited bonus points redemption from the rewards program. Also, the premium rewards have a spending cap on them, which limits their use of the premium rewards. You will also need a relatively high credit score to apply for a credit card.

Ultimately, Bank of America Customized Cash Rewards card is a good choice for a customized rewards program. You can have cashback due to excellent cashback rate on purchases made through the credit card, for example, when purchasing groceries.

4.      Bank of America Travel Rewards Credit Card.

The Travel Rewards credit card boasts a generous rewards program and unlimited bonus points for all purchases. For example, cardholders enjoy a 0 annual fee and a 0% foreign transaction fee on the card. Additionally, the bank offers extra reward points for customers with a high net worth, for example, Merrill customers.

Only applicants with a good FICO credit score can apply for the Travel Rewards credit card.

Even though the credit card has an elaborate rewards program, it is still moderate compared to other cards. It has a high APR, although the bank offers an introductory 0% APR for the first 15 months. The card has no premium travel benefits, and you cannot transfer the reward points to another credit card. However, the Travel Rewards card is the best option for travel, and it carries no annual fees.

5.      Business Advantage Travel Rewards.

The Business Advantage Travel Rewards card is the best card for business travels due to its rewards program. For example, you earn 3 points for every dollar spent on booking your travel through Bank of America Travel Center. Also, you earn 1.5 points for every dollar you spend using your card for all your purchases.

Your rewards will have a boost when you have an investment account or high checking balance in your bank account.

Although the card has a 0 annual fee, its other rates are higher than those on most cards. The credit card carries a high APR, even though you receive a 0% introductory APR for the first nine months. Also, the card carries a higher cash advance APR of about 26% and higher cash advance fees than most cards.

Even with no premium benefits, the Business Travel Rewards card is the best option in this category.

6.      Bank of America Premium Rewards.

The Premium Rewards credit card is the overall best credit card that Bank of America offers. Even though the credit card carries an annual fee, it has unbeatable rewards ratings on travel, dining, and other purchases. Also, the card has a 0% foreign transaction fee, which is a significant advantage to the cardholder during travel.

Although the card has large rewards and bonuses, you cannot transfer your points to other partners. The cardholder cannot choose a suitable travel vendor when they use their card while traveling. The Premium Rewards card is ultimately the best choice for those looking for the highest bonuses.

Due to its many advantages, you will need a better-than-average credit score to apply for and receive the credit card.

What Credit Requirements Should You Meet Before Applying for a Bank of America Credit Card?

requirements list

Since credit cards act as temporary loans from the bank to the customer, applicants must meet a certain threshold. The applicant needs to meet the credit requirements to get their credit card application approved by the bank. After the application process, the applicant may be approved for a credit card or denied for one.

Depending on your requirements, you might get instant approval for a Bank of America credit card.

Most basic requirements, for example, include the applicant’s social security number and age, which should be 18 and above. Additionally, the applicant should have US citizenship even if they can use the credit card globally. Non-US citizens must indicate their citizenship and contact Bank of America physical agencies before credit card application.

Most credit cards will need the applicant also to indicate their employment status and social security number during the application.

Thus, the applicant must submit accurate information reflecting their credit report. The bank will tell the applicant if their application was approved or denied after they review the applicant’s details. For example, the bank may review the applicant’s credit reports and credit score to check if they qualify for an application.

A credit report will show the bank your credit activity history and credit accounts which affect your credit card application.

Credit Card Fees that Applicants Should Know Before or During Bank of America Credit Card Application

fees

When applying for a Bank of America credit card online, you might pay some fees to your credit card account. Sometimes, many applicants are not aware of the types of fees that the bank charges on their card. Therefore, it is crucial that the applicant must be aware of the fees as they apply for their chosen credit card.

However, the bank indicates the fees they will charge you from your card agreement or in billing statements.

The following are the credit card charges that apply to a Bank of America credit card:

1.      Balance transfer fees.

Balance transfer fees are charges the bank will apply when you transfer your credit balance from a different credit card account. For example, you can transfer your credit from a different bank to your Bank of America credit card account. You should contact Bank of America online and submit your details before initiating the transfer process.

Bank of America will decide on the fees to charge you depending on the amount you transfer to their card.

2.      Transfer fees.

Bank of America may charge the cardholder fees depending on the transactions they make using their credit card. Also, the bank may charge fees for making direct deposits, bank cash advances, check cash advances, and other balance transfers. The bank also charges foreign transaction fees if you use the card through a foreign bank or foreign currency.

Credit cards with a 3% foreign transaction fee include the Bank of America Travel Rewards credit card.

Cash advance fees may also apply when you borrow money to keep it in your pocket through a credit card. For example, cash advance fees will apply when you use an ATM to withdraw money using your Bank of America credit card. The fees are more expensive since you will pay a transaction fee and a higher APR than when making purchases.

Also, you will acquire interest at the time of withdrawal since there is no grace period for a cash advance.

3.      Late fee.

Bank of America credit cards carry penalties if the cardholders fail to make payments on time. A late fee differs from APR and interest charges since it is a penalty added to your total payment. Also, APR is a percentage of interest you pay for the transactions you make if you have credit balances.

Thus, Bank of America will penalize cardholders if they fail to keep up with their credit balance.

4.      Checkout fees.

Checkout fees are regulated charges that some merchants add to credit cards and prepaid cards, but not debit cards. The merchant will add a checkout fee for every transaction, according to state law, which limits the fees. According to the store’s policy, the merchant should disclose if merchant fees are applicable.

Bank of America does not know how many merchants or stores apply the checkout fee policy.

In case the merchant overcharges or does not disclose the information before purchase, you are legible for refunds. In case of surcharging, the state attorney general’s office will offer guidance for matters concerning your credit card. Also, if you need to return a product after purchase, you are legible to gain a refund of the checkout fees you spent.

Checkout fees will reflect on the receipt as a separate line item once you finish making your transactions and purchases.

5.      Interest charges.

Interest charges are the total interest that applies to your credit card after transactions. Also, if you fail to pay your credit balance on time, you might accumulate interest, which is an annual percentage rate. To avoid paying interest and APR, always make your payments on or before the due date.

You can arrange for automatic payments or have automatic reminders to your account before your payment date.

APR is variable on most credit cards due to the prime rate, which is the bank’s interest rate. The prime rate is available for the bank’s creditworthy customers, especially those with good credit scores. However, other credit cards have a fixed APR that cannot change or does not depend on the prime rate. Thus, checking your credit card agreement to see whether your APR is variable is essential.

6.      Annual fee.

An annual fee is an amount the bank will charge a cardholder for using a credit card. Most credit cards lack an annual fee, but those with annual fees have a high rewards program. The cardholder will pay the annual fee as the cardholder first opens their account, then every 12 months of use.

The bank may opt to spread the fee, making it a monthly payment during every monthly billing cycle.

What is the difference between annual fees and annual percentage rate (APR)?

Annual fees are fees the bank will charge the cardholder for using a specific type of credit card. There are a few Bank of America credit cards that can carry a certain amount of annual fees. However, most of the credit cards which Bank of America offers have a 0 annual fee on the cards.

Annual fees are paid when you open the account and once a year, as seen on your monthly statement.

Sometimes, the bank offers its customers the option to spread out their annual fees to be paid every month. The main benefit of having a Bank of America credit card with annual fees is that it has higher rewards for the cardholder. Different cards have different annual fees, depending on the type and use of the card by the customer.

Additionally, only people with a higher-than-average credit score and FICO scores may use a credit card with annual fees.

An annual percentage rate is a yearly interest you pay if you do not finish paying off your card balance. The APR varies greatly depending on your type of credit card and how you manage your finances. People with high credit scores and who make their payments on time have a lower APR for their credit cards.

Also, the Bank Americard secured credit card will have a higher APR than other Bank of America credit cards.

A cardholder with two separate Bank of America credit cards may have different APRs since APR does not remain constant. However, some credit cards have a fixed APR, which you must confirm before applying for a credit card. Since APR interest on credit cards is avoidable, ensure that you keep up with the payments at the due time.

Always check with the bank to know what your APR is and whether or not it is variable.

Time Frame Required to Get Your Bank of America Credit Card from Bank of America

timeframe

After meeting the suitable credentials to apply for a Bank of America credit card, you can now apply for one. Online applications usually use Secure Sockets Layer technology to secure the customer’s information, offering protection from external hackers. Additionally, you can save your application and fill it in the Application Center later before 30 days expire.

Therefore, applying for a Bank of America credit card, whether online or offline, is made easier with a fast response from the bank.

The bank will need between 4 to 6 days to process your credit card application even after qualifying for approval. The bank will use the mail to send the card after processing, which will take about ten business days. Depending on several external factors, some people may receive their cards earlier or later than others.

Additionally, Bank of America does not charge additional credit card requests and delivery fees.

Sometimes, the bank may offer expedited delivery to their customers in emergencies for free. For example, if you need to travel outside the country on short notice, you may request expedited shipping. You can request expedited shipping from the bank, which takes about 1 to 2 days for the card’s arrival.

How Long Does it Take to Get a Reply for a Credit Card from Bank of America?

Depending on the type of Bank of America credit card you apply for, the bank may offer instant credit card approval. The bank will need more time to review details you submit online of you qualify for a different credit card. Thus, the bank may take 1 to 2 business days to completely review your account details.

Usually, Bank of America consumers get their credit cards approved within 4 to 6 business days.

How Long does it take to get a Credit Card Approved from Bank of America if You Apply Online?

Mobile banking is becoming a better option for many individuals since it is fast and convenient when accessing banking services. Also, Bank of America allows users to apply for their credit cards online, which is easy to navigate. If you want to apply for a credit card, go to the official Bank of America website. You can select the most suitable credit card you wish to acquire from the credit card section.

Online application is free and does not require the applicant to visit any physical location for their credit card approval. However, the applicant should submit their correct details, including their social security number. The consumer should wait for the bank’s reply as it sets up the credit account of consumers.

If the reply takes too long, call the bank’s customer care service for further assistance.

When you submit the application online, the bank will respond to you after a few seconds using the following ways:

(i)                 There is instant approval on the application

(ii)               There is instant approval for application but for a different credit card offer

(iii)             The bank will need more time to review your application

(iv)             The bank has declined your card application

It might take a few hours for the approval of your request to go through or up to a month. Sometimes, you may be legible for approval of a different credit card than the one you had initially applied for. For example, a credit card may require a higher credit score than your current one.

Therefore, you will need to understand the different requirements of each credit card before applying.

After applying for the card, some applicants might get their response a few days after their initial application. Even though the approval process may take a few hours, the bank may need to review more details. However, if you have issues with applying for the card online, try using your phone with a stable network connection.

If there are more issues online that you cannot resolve on your own, contact the bank for further assistance.

How Long does it take to Get a Replacement Credit Card from Bank of America?

Some of the reasons that may lead a customer to replace their credit card may include:

·         If their credit card was stolen

·         If they cancel their current credit card and require a new card

·         If they lose or damage their credit card

·         If the current credit card expires

A customer can request a new replacement card from the bank through online banking or the banking app. You will have to enroll in online banking to access services from the online banking platform. The mobile banking app is readily accessible by downloading the application to your mobile device, making banking easier. Use the following steps to apply for a replacement card online:

(i)                 Go to the Bank of America website and log in to the Online Banking section

(ii)               Select Order a new or replacement card option from the link

(iii)             Follow the on-screen instructions

(iv)             If you use the mobile banking app, log in to the app and select the Credit Card Account option

(v)               Scroll down to the Card Management option, then select the Replace Credit Card option from the link given

(vi)             Alternatively, tap on the Erica icon and text or say, “I need to replace my credit card”

(vii)           Follow the instructions to complete the process

Usually, the bank charges no extra fee when replacing a credit card from the Bank of America. If the bank charges an extra fee, they will indicate why, primarily due to unauthorized credit card use liability. It usually takes about 4 to 6 business days for the bank to process the new card.

However, in most cases, the bank will release the replacement card a month before the expiry of the current one.

What Are the Security Features Found in a Bank of America Credit Card?

credit cards

Credit card fraud is a widespread type of global crime that can happen to anyone. Therefore, it is necessary always to be vigilant and have measures set in place to avoid being a fraud victim. It is important to note that your personal information remains safe and private to avoid swindling by hackers.

Bank of America has security features that protect its clients’ credit card information.

Bank of America offers its customers methods by which they can keep their account information safe and secure. For example, you can download the Mobile Banking app to receive notifications on your phone about your account activity. Therefore, you will receive your account statements to see how and when your credit card has made any transaction.

You can set up custom alerts and push notifications on your card activity through the bank’s site.

Always ensure that the email and contact details that the bank has on your credit card account are up-to-date. If the bank detects any suspicious activity on your credit card, it will alert you through email or phone. If you monitor suspicious activity on your credit card through alerts, notify the bank immediately. Also, avoid sharing your login details with others to prevent your credit card information from falling into the wrong hands.

You can request the bank to offer you a virtual credit card that will link to your digital wallet for online purchases. A card security code (CSC) is a 3-digit number that acts as a security feature, especially for online purchases. Turn on your location while making purchases and sign in to allow security permissions on your phone.

However, you should be careful, especially when making online purchases and avoid unsecured sites which attract fraudsters.

What Should You Do If Your Credit Card is Missing

lost credit card

Report a missing credit card immediately if you notice that you do not have the credit card with you. The earlier you report a missing card, the earlier the bank will cancel the card and replace it. Also, you will have no liability for the fraudulent transactions that will take place after the credit card goes missing.

The bank will reimburse any money spent on such transactions after you report credit card fraud on the bank’s page.

Aside from reporting online, you can call 800.732.9194 if you are within the US and 1.757.677.4701 outside the US. The customer service and support team is available 24/7, ready to cancel your missing credit card immediately after reporting. If you do not have the necessary numbers, use the number on the back of your card.

Ensure you report suspicious activity on your credit card to the bank to avoid paying liability fees for fraudulent transactions.

How Long Does It Take to Get Approved for a Secured Credit Card from Bank of America?

A secured credit card differs from most credit cards because it requires the consumers to deposit money before applying. The difference between an unsecured and a secured credit card is credit deposits. Bank of America has a minimum and maximum amount of money for the credit deposit, depending on the applicant.

It is important to note that the credit limit might be lower than the deposit, depending on the bank’s review. Once the bank reviews the applicant’s details during the application process, it will set their credit deposit and limit. The bank will look at the applicant’s income, employment status, and credit score to determine their initial deposit.

Both secured and unsecured credit cards take the same amount of time for the bank to get the card approved for the consumer. Thus, it can take between a few hours to a few weeks for the bank to respond to the application. After the application process, the bank may take 4 to 6 business days to release the secured card.

The consumer may receive the credit card via mail within ten business days after processing.

How Long Does it Take to Get a Secured Credit Card from Bank of America?

Generally, it will take a few days to a few weeks for you to get your application approved by Bank of America. Then, the bank will process and release the card within 4 to 6 business days after your credit card approval. It will take about ten business days to get your new card through the mail.

Thus, ensure you submit the correct details of your home address when you open a credit card account.

You can check the status of your secured credit card online through the Bank of America credit card page on their site. However, it can take about the bank 1 to 2 days to review the details you submit in your online application. You can contact customer service for further assistance if you need expedited delivery for your new card.

Who Can Apply for a Bank of America Secured Credit Card?

A secured credit card is helpful for people who want to build or rebuild their credit scores. It is important to note that becoming an authorized user on another person’s credit card will impact your credit report. Their credit history will impact your credit score, which may cause a bad credit score if theirs is terrible.

Therefore, getting a secured credit card is the best option if you wish to build your credit score.

Also, people with bad credit scores can apply for a secured credit card. Therefore, the bank can grant you a secured card if you previously had a bad credit score or poor FICO scores. The FICO scores are a measure of credit scoring that shows how you manage finances according to your credit reports.

Thus, depending on your credit and FICO scores, Bank of America will determine your credit deposit and card limit.

What is the difference between FICO scores and credit scores?

A credit score consists of three digits that measure your strength when it comes to your financial abilities. Bank of America will require your credit score to see whether you are eligible to apply for a credit card. Additionally, credit scores will significantly impact the APR and interest rates you will have on your credit card.

The bank will find all your credit history in your credit reports, which will significantly impact your credit score.

FICO scores are a form of credit scoring model, among several other models such as the VantageScores scoring model. Bank of America will decide which scoring model is most suitable for the customer depending on their financial capabilities. FICO scores mostly stand out when the bank wants to gauge their customer’s ability to pay their debt.

Thus, FICO scores fall under types of credit scores that the bank can obtain from your credit report.

Sometimes, you can have different FICO scores depending on the type of version and use of the scores. The different versions of FICO scores are always up-to-date, providing the bank with a uniform scoring method. However, FICO scores will range from 300 to 850, with 850 showing you have an excellent score. Always ensure your credit history positively impacts your credit reports to improve your credit and FICO scores.

To improve your credit score, especially when applying for a credit card, try doing the following:

·         Make your credit card payments on time

·         Keep your old accounts open to increase your credit age

·         Limit your credit card applications

·         Lower your credit card balances

·         Avoid collecting penalties due to lack of credit payment to the bank

What are the Pros and Cons of the Bank of America Secured Credit Card?

Depending on their application, Bank of America offers its customers a few secured credit cards. Secured credit cards have several benefits but may also negatively impact the cardholder. There are a few credit card offers that give consumers benefits, depending on the card they are approved with.

However, the security card is a better option for those with bad credit scores or those building their scores.

The main benefit of the Bank Americard secured card is that the bank may return your credit deposit. If you keep up with the credit card payments and your credit score improves, the bank can return the deposit. Thus, the secured credit card can become an unsecured credit card if the bank approves your credit history.

However, not all customers using a secured credit card will be legible for the benefit.

Also, the bank offers a 0 annual fee or any fee for opening the account for the secured credit card. However, the secured card holds a very high annual percentage rate, which ranges at about 25%, depending on the cardholder. Annual percentage rates (APR) usually affect the total interest rates to be paid back to the bank.

Thus, Bank Americard has high APR than competitive rates from other cards.

The Bank Americard secured credit card offers no reward programs to the cardholder, unlike the bank’s other cards. Also, the bank will charge a higher balance transfer fee and foreign purchase transactions to the card. Thus, the Bank Americard secured credit card has fewer benefits and is more expensive than competitive rates on other cards.

What are the Differences between a Prepaid Card and a Secured Card?

prepaid card

A prepaid card works to make a personal purchase and other transactions, just like a debit or credit card. However, you will need to top up the card with a certain amount of money before using the card. A prepaid card will not link to your checking account; thus, you must top up the card frequently.

You cannot spend more than the money you load on the card since it is not covered by overdraft protection.

Prepaid cards work best for parents who want to teach their children how to manage their finances. Also, you can use a prepaid card if you have an issue with overspending and are looking for ways to control it. Bank of America has a variety of commercial prepaid cards for all its customers.

Prepaid cards will conduct transactions anywhere that accepts a Visa, MasterCard debit, or credit card.

A secured card works by first depositing a credit deposit during your credit card application. However, the bank will not use the deposit as the fund you need to finance your purchases and transactions. Thus, you will have to pay back the credit you use for your personal finance and transactions.

Sometimes, the bank will review your credit history and may give back your credit deposit if you qualify.

Secured credit cards will help build your credit score, but prepaid cards will not build your credit score. Additionally, people with bad credit scores can apply and receive a secured credit card to rebuild their credit scores. Therefore, it is essential to keep up with the credit card payments for a positive card report.

 How Long Does It Take to Get a Working Credit Card from Bank of America?

The customers applying for a credit card must submit their accurate information to the bank. For example, they must fill in their current age, employment status, home address, and social security number. If the bank needs further details, then the customers should be ready to submit the details.

If the customer gives the bank information, whether online or physically, the bank secures information from external scammers and hackers.

After the customers submit the details, the bank will begin analyzing the application process. If the bank is delighted with the customer, they may give instant application approval. However, customers may be approved for a credit card within 1 to 2 business days or a few weeks.

Sometimes, the application review might take up to a month, but the bank will inform the applicant.

The bank may take 4 to 6 business days to release your credit card after completing the application process. Then, the bank will need another ten business days to mail the credit card to your home address. However, you may request expedited shipping from the bank if you need the card urgently.

The bank will not charge you any extra fee for expedited shipping, especially if you are within the country.

How to Activate the Credit Card

When you receive the credit card, you will need to activate it before you start using it. You can activate the credit card online once you receive it using the following steps:

(i)                 Visit the Credit Card Activation page from the Bank of America website

(ii)               Alternatively, you can log in to your Mobile Banking app

(iii)             Then, select the Card Account which you currently use

(iv)             Scroll and choose the Card Management option

(v)               Click on the Activate Card button

Additionally, you can call the number on your credit card’s back to ask for further assistance. The bank staff will help you activate your card, which will then be ready for use.

How Long Does It Take to Get a Credit Card in the Mail from Bank of America?

mail

Once the bank releases your credit card after the application process, the bank will send the card within ten business days. Thus, it is important to crosscheck the correct address so that you can receive the card through the mail. The bank will not charge any extra fee for mailing the credit card to your selected address.

If you change addresses, ensure that the bank is always up-to-date with your current details.

However, in case of any urgency, you may request expedited shipping from the bank without any added fee. The bank will indicate why you may incur any extra fee for your card through expedited shipping. You will receive your credit card via mail within 1 to 2 business days if you request expedited shipping.

Why Might Bank of America Credit Card Approval Take Longer?

The response time may take a few seconds when applying for a Bank of America credit card online. The bank might give some customers instant approval, especially if their credit reports are approved. However, the bank usually takes about 1 to 2 business days to thoroughly review the applicant’s credit report.

In some cases, the review process after application might take the bank up to a month.

The bank will check several factors before the customer gets approved for a credit card. Customers need to fill in accurate information for their credit card application, for a new or replacement card. After the customers submit their details, the bank will crosscheck the information to see whether they fit for application.

Mostly, the bank checks for the applicants’ credit reports which contain personal information, public records, and credit accounts. Also, the credit reports will show other companies with access to your credit history. Thus, the bank will know whether you have good or bad credit scores and how you manage your credit funds.

Thus, depending on the information you have on your credit report, the bank will know whether you qualify for an application. Sometimes, a customer may be legible to receive a different credit card from the one they apply for. The bank offers further assistance to direct you and guide you to apply for the card that most suits you.

The application process may take additional time to get your credit card approved.

Who Can I Call at Bank of America if it Takes Too Long?

Bank of America usually has many staff members to cater to millions of customers. Their customer service reputation is impeccable, ensuring customers can rely on them anytime. Customer service support is usually available 24 hours a day, every day of the week.

Thus, whatever issue may arise, they will always be there to meet the needs of their customers.

Bank of America has a customer hotline that customers can use to get to them through secure messages or calls. The Bank of America customer service number to check your application status is 866.422.8089. the staff will help sort out any issue with your credit card delivery.

However, the bank may still be reviewing your application, which may cause a delay in your approval. Also, if you change your address without informing the bank, you may not receive your credit card through the mail. Thus, if you need to update your details, always contact the bank to ensure they have your current information.

How Can I Find Out the Status of My Credit Card Application at Bank of America?

You can visit the Bank of America website to check your credit card application status. Log in to the website, navigate the “Credit Cards” section, and select the “Application Status Center” option. Then, search for the “Check Application Status” option and follow the on-screen instructions from the page. You will find a form that requires you to fill in some details that match your credit card information.

The details should be the same as those you put in during your credit card application for verification purposes. If you cannot check the status online, try contacting the bank by calling their customer service number. The number is 866.422.8089, where you will receive the help you need from the customer care support staff.

In case of additional inquiries, the bank will direct you to more ways to receive assistance concerning your card application.

A section on the same web page is shown as “Complete my saved application.” The credit card application process allows the applicant to save their application online, where they can resume the process later. However, you will need to resume the application before 30 days expire, or you will start the application process again.

How Can I Speed Up this Process?

speeding image

Sometimes, it may seem like the Bank of America might take too long to deliver your credit card. The status of your credit card application should show you have been approved for a credit card. Thus, the bank will mail you the credit card within ten business days, which might seem too long.

For some, expedited shipping is not an option since it may not be legible to the customer.

Bank of America offers its customers a virtual card they may use instead of a physical credit card. Virtual cards are the digital versions of the credit card that Bank of America may give applicants after approval. You can request the virtual card from the bank after you have been approved for a credit card. If you have the mobile banking app, request a virtual card to use credit services for online purchases.

The virtual card has a unique set of numbers that are different from the credit card you currently own. Even though the virtual card will facilitate payments and personal finance like your credit card, it will be unique. The credit card might get stolen, but it will not affect your virtual card, making it safer to use. Additionally, you will still get the benefits, rewards, security, and protection the physical card receives.

The last four digits on your virtual card will differ from those on your physical card. Therefore, if you conduct online purchases, the receipt will show the last four digits of your virtual card. Your digital wallet will carry all information regarding your credit card, giving access to your virtual card.

Thus, your credit card information will remain intact even as you use your virtual card for online purchases.

What is the difference between a digital wallet and a virtual card?

A digital wallet is an online financial platform allowing a person to make contactless payments. For example, common digital wallets include PayPal and Google Pay, which allow you to store your credit or debit card information. With digital wallets, you can track your personal finance, store your funds, and access financial services.

Therefore, you will need to download an application to access the digital financial platform and make transactions from your phone.

A virtual credit card is a unique set of numbers that you use in place of your credit card to conduct an online purchase. The card number on the virtual card will differ from the card number on the physical one. The virtual credit card acts as a temporary credit card that will be disposed of after every purchase. Thus, the virtual credit card will have different numbers for every purchase, protecting your credit card information.

The main difference between a digital wallet and a virtual card is that a digital wallet is software. You will have to download the application and create your account to access the financial services it provides. However, a person can only use a virtual credit card for conducting online purchases without a physical card.

You can request the bank to provide a virtual credit card before your physical card arrives in the mail.

The primary importance of a virtual card is that it offers you better security from online fraudulent activities and hackers. Since the card number on the virtual card is unique, the hacker will not trace your physical credit card. Also, the hacker cannot use the same virtual card number since new sets of numbers are generated after every purchase.

The virtual credit card is secured in your digital wallet since the digital wallet tracks all your transactions.

What to do if the Request is Denied?

denied request

Sometimes, the bank might completely deny your credit card application for any of their credit cards. If your credit report shows a negative trend, the bank may not consider you a cardholder. The bank will indicate why you were not approved for a credit card at any given time.

However, you may ask for further assistance from the bank to guide you as you wait to apply later.

The main reasons that Bank of America may deny your credit card application include:

·         Late or delayed credit card payments

·         Very low credit score and income

·         Submitting applications for several new credit cards at a time

·         Having too many Bank of America credit cards existing at a time

·         Picking a card with many restrictions

·         Having no banking investments with Bank of America

·         Too many hard credit inquiries

Even though Bank of America may deny or not approve your credit card application, it will not affect your credit. However, your overall credit score may drop slightly because of hard credit inquiries from lenders, such as the bank. Thus, you should monitor your credit reports regularly and wait before applying for another credit card.

Additionally, know the minimum credit requirements that the bank needs before you submit your credit card application.

Alternatively, try being an authorized user on another person’s credit card. Be careful to choose a person with a better credit score as their credit score will impact yours. Thus, you will grow and build your credit score, making it legible to apply for a credit card.

Find out the reason why your credit card application was denied and work towards improving your chances for approval.

Where Can I Find a Bank of America Agency in US?

Bank of America tower

Bank of America has several agencies, financial centers, and offices throughout the US. The bank’s headquarters is the primary official corporate center in Charlotte, North Carolina. Although you can solve several issues concerning your credit card online, Bank of America offers further assistance in their offices.

The bank’s financial centers also provide further financial assistance concerning your credit cards and bank account.

One of the crucial jobs of the financial centers is to offer help and resolve issues brought by the customers. The following is a table that shows different offices and financial centers spread out through the US:

Main offices

Address

1.      Charlotte, North Carolina

100 North Tyron Street

Charlotte, North Carolina 28255

2.      New York

One Bryant Park

New York, New York 10036

3.      Chicago

135 S. LaSalle Street

Chicago, Illinois 60603

4.      San Francisco

315 Montgomery Street

San Francisco, California 94104

5.      Miami

701 Brickell Avenue

Miami, Florida 33131

Main financial centers

Address

1.      New York

105 Broadway

New York, New York 10038

Tel: +1 212-406-0575

2.      Tampa

101 R Kennedy Blvd

Tampa, Florida 33602

Tel: +1 813-225-8153

3.      Kearny

240 Kearny Avenue

Kearny, New Jersey 07032

Tel: +1 201-997-1609

4.      Los Angeles

888 W 7th Street STE 100

Los Angeles, California 90017

Tel: +1 213-614-0961

5.      Boston

100 Federal Street

Boston, Massachusetts 02110

Tel: +1 617-434-3412

6.      Princeton

90 Nassau Street

Princeton, New Jersey 08542

Tel: +1 609-430-2069

The financial centers offer their telephone numbers if you have queries, but you cannot reach the physical address. Generally, the bankers will address your concerns to provide you with help regarding all your financial issues. The consumers can get their opinions expressed directly to the bank through the customer service within the bank’s physical location.

Why Does Almvest.com Writes to Bank of America’s Customers?

Bank of America is one of the leading financial institutions in the US and globally. Hence, it serves millions of customers daily, from handling bank accounts to providing credit cards. Thus, it is not uncommon that issues may arise regarding different financial services which the bank provides.

Almvest.com works to provide the necessary information relating to customers investing in Bank of America.

Usually, the real-time issues that arise usually come from the audience and the Bank of America’s customers. Sometimes, the information you get from the internet may be misleading, causing more harm. Therefore, Almvest.com has taken the time to filter out all necessary information and provide the correct answers.

Customers can rely on Almvest.com to provide information instead of spending hours researching online.

However, if you feel like the answers you receive from Almvest.com are unsatisfactory, please feel free to contact the bank. Almvest.com usually works with the opinions expressed by the Bank of America credit card consumers. The customer service from Bank of America will be ready to assist you and offer other solutions.

Additionally, you can visit the physical location of the bank’s agencies and financial centers for more help.

What Does the Article Highlight?

article feedback

The article explains how long an individual may take to receive a credit card from Bank of America. Also, it highlights how long the approval may take, including what may cause a delay in approval from the bank. Some other sources of information may be misleading, giving customers a false sense of security. Therefore, Almvest.com has dug deeper to find the correct information regarding Bank of America credit cards.

Bank of America credit card approval varies from individual to individual due to various reasons. Different factors will affect the duration of a particular person to receive their credit card after application. However, the process will take about 15 to 20 business days if you meet all credit requirements.

Also, different factors may affect the time taken for credit card application, release, and mailing to the customer.

Even though Almvest.com provides the necessary information on what a customer should know during the application, please check with the bank. Every applicant’s needs differ during credit card application, and the bank will cater to everyone’s needs. However, applying for a credit card is not an uphill task since Almvest.com shows that you can easily apply for one.

Bank of America is open to all its customers, highlighting the opinions expressed by its customers for better service.

Conclusion

Bank of America is one of the leading banks in the US and the global market. Bank of America provides excellent customer services, ensuring anyone can access financial assistance. Bank of America has different types of credit cards to cater to the needs of different types of individuals. Once you submit your details for the credit card application, the bank will give you proper responses after reviewing the application.

The bank might take about 4 to 6 business days to release your card after your approval. The bank will mail the new card within ten business days unless you request expedited shipping. Although mailing the card is usually free, the bank will indicate if they charge you an extra fee.

In case of further queries concerning your credit card, Bank of America will give further assistance.

Frequently Asked Questions

How long should I wait to apply for a credit card after my application was denied?

Bank of America can deny the credit card application of a customer depending on several issues that may arise. A good example has a terrible credit score, having too many open credit cards, and recent hard inquiries. The bank will indicate the reason for the denial and offer a solution regarding your credit card application.

Most credit cards will need you to have a new card application after 3 to 6 months. Some take up to 24 months for another online application after closing their Bank of America credit card account.

Is there a limit to the number of credit cards I should have?

Bank of America usually has application rules to manage the number of credit cards each cardholder should have. The 2/3/4 rule shows how often a customer can be approved for a credit card in a month. The bank indicates you can have two new credit cards in two months and three within twelve months. Also, you can only have four credit cards existing simultaneously every 24 months. Too many existing credit cards will limit the chances of your approval for a new credit card.

Can a non-US citizen apply for a Bank of America credit card?

Bank of America offers applications for their credit cards to all, even those not citizens of the US. However, non-US citizens will need to be within the borders of the US to apply for a credit card. You cannot apply for a Bank of America credit card outside the country, but you can use the card globally.

For non-US citizens, the bank will require further proof of identification before becoming eligible for a credit card. Once you have all the necessary requirements, visit any financial center to start your credit card application.

What are credit card limits?

Credit card limits are the maximum amount of money that Bank of America will allow the cardholder to spend. The credit limit varies from one card to another, depending on the type of card and the cardholder’s credit score. Also, the cardholder’s income, employment status, and overall debt will affect their credit card limit.

Those with a good credit score can apply for overdraft protection to extend their credit limit on the card. Thus, ensure you have a good credit history of increasing your chances of having a higher credit card limit.

The Bank of America is an American bank with its headquarters in Charlotte, North Carolina. It serves about 11% of all American direct deposits, making it the second largest bank in the US. It is also the second largest investment and financial services platform within the global market capitalization.

The Bank of America works as a corporation, allowing many to access its financial services globally through different branches.

Since it caters to millions of customers simultaneously, the Bank of America ensures its customers access better services. Applying and using a credit card from the Bank of America is a better means for customers to access money. Getting a Bank of America credit card will require approval for about 4- 6 business days.

Several other factors, for example, your credit score, affect your legibility for a credit card application to the bank.

Additionally, consumers who wish to replace their credit cards can do so quickly, although additional fees may arise. The approval process may take longer for others while some may get instant approval for their application. Therefore, this article will guide anyone who wants to apply for or replace their Bank of America credit card.

Key Takeaways

·         After application, it can take up to 6 business days to receive a working credit card from Bank of America.

·         Getting a replacement Bank of America credit card or a new card can also be done through online and mobile banking

·         You will have to meet the bank’s requirements to apply for and receive a Bank of America credit card, for example, age

·         After the application is a success, the bank will send the credit card by mail, which takes about ten business days. However, expedited delivery may take 1 to 2 business days for the Bank of America credit card to arrive by mail.

How do Bank of America Credit Cards Work?

Bank of America

Since Bank of America works as a banking institution, it can offer credit cards to customers who apply for them. Therefore, only customers who are fit to receive a credit card are legible to apply for one. Additionally, Bank of America offers different types of credit cards that meet the different needs of different customers.

Thus, consumers will need to fill in the information depending on what type of card they need for their use.

Generally, credit cards work by allowing the cardholder to borrow some funds which consumers pay back at a fee. Unlike debit cards, credit cards do not link to your bank account, and the cardholder will repay funds after use. Additionally, the bank allows cardholders to access funds through ATMs, convenience checks, or bank tellers.

Any Bank of America credit card offers a specific limit of funds that the cardholder can borrow.

After the consumers are approved for a Bank of America credit card, they can activate their card online before use. Therefore, the consumers can pay for different purchases across the globe, in stores or as they travel. Some Bank of America credit cards allow the consumer to make transactions for free. However, you can visit the Bank of America credit card page on the ban’s site for further assistance.

Is there a  difference between a debit card and a credit card?

debit card

Credit and debit cards seem similar since they have almost the same features, like a 16-digit card number. It is easy to conduct transactions and online purchases with cards since they offer contactless payments. Even though Bank of America provides both types of cards to its customers, they perform different tasks.

You should have a bank account with Bank of America to obtain either of the cards.

A debit card is a card for making a personal purchase or payment directly linked to your bank account. Thus, you will use the money from your checking account, not credit, to complete your transactions. However, you can apply for overdraft protection, allowing cardholders to use more money than is currently in their account.

Hence, it is easy to avoid debt when using a debit card than when using a credit card.

A credit card is a card the bank offers to allow an individual to borrow funds from the bank. Bank of America has different types of credit cards that they offer their customers, depending on a variety of factors. You will have to apply and wait until you are approved for a credit card by the bank.

The bank will offer additional agreements the cardholder must adhere to when paying back credit.

The main advantage of a credit card over a debit card is that it will help you build credit. Good credit is essential when you need extra credit and funds from the bank, such as a mortgage. Since debit cards allow you to spend money from your account, they cannot grow your credit scores.

Also, a credit card is more secure than a debit card to avoid scammers by using a virtual card for online purchases.

What Type of Credit Cards does Bank of America Offer?

Bank of America credit card logo

The Bank of America has several types of credit cards that can suit the needs of different customers. Credit cards have different credit limits and interest rates that work according to the customer’s abilities. Credit cards allow customers to build better credit scores, facilitating access to more financial benefits.

Therefore, customers will need to achieve the set requirements by the bank to apply for a credit card.

Both individuals and businesses are legible to apply for and use credit cards for purchases, business, or travel. Different customers can get different sets of credit cards even though their credit scores might be similar. Also, most credit cards from Bank of America have no annual fees, making it cheaper to use the card.

Before applying for a specific credit card, know what it entails, including the fees payable while using the card.

Reward credit cards have a rewards program that allows cash backs or discounts during purchases or travel. Thus, the program allows you to earn more points as you use your credit card frequently. However, reward credit cards may have annual rate fees and require users to have a higher credit score than average.

Late payments of the credit funds may affect your reward points or remove the points you earn.

To learn more and get further information on Bank of America credit cards, visit their website by clicking here.

The Best Example of Bank of America Credit Card Offers in Each Category

Bank of America has various credit cards that customers can choose from, depending on their needs. It does not matter whether you have bad credit; Bank of America will have a suitable credit card for you. However, you should fill in accurate information and submit the correct details to the bank during the credit card application.

That way, Bank of America will gauge your financial capabilities and help you and your needs.

The best examples of Bank of America credit cards include:

1.      Bank of America Customized Cash Rewards for Students.

It is never too early to build a good credit score, even before you finish your studies. The Customized Cash Rewards credit card is the best pick for students, and they earn cash back after transactions. The card has a 0 annual fee rate and 0% introductory APR and balance transfer fees for 15 months.

Therefore, students will build their credit as they enjoy significant benefits from using credit cards for personal finance.

However, the card has a variable APR of about 17% to 25%, which can negatively impact a person’s credit score. Also, a 3% foreign transaction fee may be too high for international students who use the card daily. An applicant will require a FICO credit score of between 670 to 850 to apply for the card.

Generally, the customized student credit card acts as a great start for one to build credit for future benefits.

2.      Bank of America Customized Rewards Secured Credit Card.

The Customized Cash Rewards card is the best secured credit card due to its reward program and 0 annual fee. Unlike the Bank Americard Secured card, the Customized Cash Rewards card has better rates, unlike cards with competitive rates. Therefore, if you have bad credit, apply for a Customized Cash Rewards Secured credit card to boost your credit score.

Also, the bank can upgrade your card to an unsecured one if you use the card responsibly.

However, the card has a variable APR of about 26%, which is higher than most credit cards. Also, you will have to deposit a minimum amount of credit deposit during application since it is a secured credit card. The bank does not allow applicants to pay the credit deposit in installments, which might be high for some applicants.

Generally, the credit card is the best option for those wanting a secured credit card.

3.      Bank of America Customized Rewards Credit Card.

The Bank of America Customized Rewards card is an unsecured card where you do not need to pay a deposit. Unlike a secured card, the bank will not require the applicant to pay a credit deposit during the application process. The Customized Cash Rewards card has a 0 annual fee and an elaborate reward program.

Although it has a high APR, the bank offers a 0% introductory offer for purchase APR and balance transfer APR.

However, the card carries limited bonus points redemption from the rewards program. Also, the premium rewards have a spending cap on them, which limits their use of the premium rewards. You will also need a relatively high credit score to apply for a credit card.

Ultimately, Bank of America Customized Cash Rewards card is a good choice for a customized rewards program. You can have cashback due to excellent cashback rate on purchases made through the credit card, for example, when purchasing groceries.

4.      Bank of America Travel Rewards Credit Card.

The Travel Rewards credit card boasts a generous rewards program and unlimited bonus points for all purchases. For example, cardholders enjoy a 0 annual fee and a 0% foreign transaction fee on the card. Additionally, the bank offers extra reward points for customers with a high net worth, for example, Merrill customers.

Only applicants with a good FICO credit score can apply for the Travel Rewards credit card.

Even though the credit card has an elaborate rewards program, it is still moderate compared to other cards. It has a high APR, although the bank offers an introductory 0% APR for the first 15 months. The card has no premium travel benefits, and you cannot transfer the reward points to another credit card. However, the Travel Rewards card is the best option for travel, and it carries no annual fees.

5.      Business Advantage Travel Rewards.

The Business Advantage Travel Rewards card is the best card for business travels due to its rewards program. For example, you earn 3 points for every dollar spent on booking your travel through Bank of America Travel Center. Also, you earn 1.5 points for every dollar you spend using your card for all your purchases.

Your rewards will have a boost when you have an investment account or high checking balance in your bank account.

Although the card has a 0 annual fee, its other rates are higher than those on most cards. The credit card carries a high APR, even though you receive a 0% introductory APR for the first nine months. Also, the card carries a higher cash advance APR of about 26% and higher cash advance fees than most cards.

Even with no premium benefits, the Business Travel Rewards card is the best option in this category.

6.      Bank of America Premium Rewards.

The Premium Rewards credit card is the overall best credit card that Bank of America offers. Even though the credit card carries an annual fee, it has unbeatable rewards ratings on travel, dining, and other purchases. Also, the card has a 0% foreign transaction fee, which is a significant advantage to the cardholder during travel.

Although the card has large rewards and bonuses, you cannot transfer your points to other partners. The cardholder cannot choose a suitable travel vendor when they use their card while traveling. The Premium Rewards card is ultimately the best choice for those looking for the highest bonuses.

Due to its many advantages, you will need a better-than-average credit score to apply for and receive the credit card.

What Credit Requirements Should You Meet Before Applying for a Bank of America Credit Card?

requirements list

Since credit cards act as temporary loans from the bank to the customer, applicants must meet a certain threshold. The applicant needs to meet the credit requirements to get their credit card application approved by the bank. After the application process, the applicant may be approved for a credit card or denied for one.

Depending on your requirements, you might get instant approval for a Bank of America credit card.

Most basic requirements, for example, include the applicant’s social security number and age, which should be 18 and above. Additionally, the applicant should have US citizenship even if they can use the credit card globally. Non-US citizens must indicate their citizenship and contact Bank of America physical agencies before credit card application.

Most credit cards will need the applicant also to indicate their employment status and social security number during the application.

Thus, the applicant must submit accurate information reflecting their credit report. The bank will tell the applicant if their application was approved or denied after they review the applicant’s details. For example, the bank may review the applicant’s credit reports and credit score to check if they qualify for an application.

A credit report will show the bank your credit activity history and credit accounts which affect your credit card application.

Credit Card Fees that Applicants Should Know Before or During Bank of America Credit Card Application

fees

When applying for a Bank of America credit card online, you might pay some fees to your credit card account. Sometimes, many applicants are not aware of the types of fees that the bank charges on their card. Therefore, it is crucial that the applicant must be aware of the fees as they apply for their chosen credit card.

However, the bank indicates the fees they will charge you from your card agreement or in billing statements.

The following are the credit card charges that apply to a Bank of America credit card:

1.      Balance transfer fees.

Balance transfer fees are charges the bank will apply when you transfer your credit balance from a different credit card account. For example, you can transfer your credit from a different bank to your Bank of America credit card account. You should contact Bank of America online and submit your details before initiating the transfer process.

Bank of America will decide on the fees to charge you depending on the amount you transfer to their card.

2.      Transfer fees.

Bank of America may charge the cardholder fees depending on the transactions they make using their credit card. Also, the bank may charge fees for making direct deposits, bank cash advances, check cash advances, and other balance transfers. The bank also charges foreign transaction fees if you use the card through a foreign bank or foreign currency.

Credit cards with a 3% foreign transaction fee include the Bank of America Travel Rewards credit card.

Cash advance fees may also apply when you borrow money to keep it in your pocket through a credit card. For example, cash advance fees will apply when you use an ATM to withdraw money using your Bank of America credit card. The fees are more expensive since you will pay a transaction fee and a higher APR than when making purchases.

Also, you will acquire interest at the time of withdrawal since there is no grace period for a cash advance.

3.      Late fee.

Bank of America credit cards carry penalties if the cardholders fail to make payments on time. A late fee differs from APR and interest charges since it is a penalty added to your total payment. Also, APR is a percentage of interest you pay for the transactions you make if you have credit balances.

Thus, Bank of America will penalize cardholders if they fail to keep up with their credit balance.

4.      Checkout fees.

Checkout fees are regulated charges that some merchants add to credit cards and prepaid cards, but not debit cards. The merchant will add a checkout fee for every transaction, according to state law, which limits the fees. According to the store’s policy, the merchant should disclose if merchant fees are applicable.

Bank of America does not know how many merchants or stores apply the checkout fee policy.

In case the merchant overcharges or does not disclose the information before purchase, you are legible for refunds. In case of surcharging, the state attorney general’s office will offer guidance for matters concerning your credit card. Also, if you need to return a product after purchase, you are legible to gain a refund of the checkout fees you spent.

Checkout fees will reflect on the receipt as a separate line item once you finish making your transactions and purchases.

5.      Interest charges.

Interest charges are the total interest that applies to your credit card after transactions. Also, if you fail to pay your credit balance on time, you might accumulate interest, which is an annual percentage rate. To avoid paying interest and APR, always make your payments on or before the due date.

You can arrange for automatic payments or have automatic reminders to your account before your payment date.

APR is variable on most credit cards due to the prime rate, which is the bank’s interest rate. The prime rate is available for the bank’s creditworthy customers, especially those with good credit scores. However, other credit cards have a fixed APR that cannot change or does not depend on the prime rate.

Thus, checking your credit card agreement to see whether your APR is variable is essential.

6.      Annual fee.

An annual fee is an amount the bank will charge a cardholder for using a credit card. Most credit cards lack an annual fee, but those with annual fees have a high rewards program. The cardholder will pay the annual fee as the cardholder first opens their account, then every 12 months of use.

The bank may opt to spread the fee, making it a monthly payment during every monthly billing cycle.

What is the difference between annual fees and annual percentage rate (APR)?

Annual fees are fees the bank will charge the cardholder for using a specific type of credit card. There are a few Bank of America credit cards that can carry a certain amount of annual fees. However, most of the credit cards which Bank of America offers have a 0 annual fee on the cards.

Annual fees are paid when you open the account and once a year, as seen on your monthly statement.

Sometimes, the bank offers its customers the option to spread out their annual fees to be paid every month. The main benefit of having a Bank of America credit card with annual fees is that it has higher rewards for the cardholder. Different cards have different annual fees, depending on the type and use of the card by the customer.

Additionally, only people with a higher-than-average credit score and FICO scores may use a credit card with annual fees.

An annual percentage rate is a yearly interest you pay if you do not finish paying off your card balance. The APR varies greatly depending on your type of credit card and how you manage your finances. People with high credit scores and who make their payments on time have a lower APR for their credit cards.

Also, the Bank Americard secured credit card will have a higher APR than other Bank of America credit cards.

A cardholder with two separate Bank of America credit cards may have different APRs since APR does not remain constant. However, some credit cards have a fixed APR, which you must confirm before applying for a credit card. Since APR interest on credit cards is avoidable, ensure that you keep up with the payments at the due time.

Always check with the bank to know what your APR is and whether or not it is variable.

Time Frame Required to Get Your Bank of America Credit Card from Bank of America

timeframe

After meeting the suitable credentials to apply for a Bank of America credit card, you can now apply for one. Online applications usually use Secure Sockets Layer technology to secure the customer’s information, offering protection from external hackers. Additionally, you can save your application and fill it in the Application Center later before 30 days expire.

Therefore, applying for a Bank of America credit card, whether online or offline, is made easier with a fast response from the bank.

The bank will need between 4 to 6 days to process your credit card application even after qualifying for approval. The bank will use the mail to send the card after processing, which will take about ten business days. Depending on several external factors, some people may receive their cards earlier or later than others.

Additionally, Bank of America does not charge additional credit card requests and delivery fees.

Sometimes, the bank may offer expedited delivery to their customers in emergencies for free. For example, if you need to travel outside the country on short notice, you may request expedited shipping. You can request expedited shipping from the bank, which takes about 1 to 2 days for the card’s arrival.

How Long Does it Take to Get a Reply for a Credit Card from Bank of America?

Depending on the type of Bank of America credit card you apply for, the bank may offer instant credit card approval. The bank will need more time to review details you submit online of you qualify for a different credit card. Thus, the bank may take 1 to 2 business days to completely review your account details.

Usually, Bank of America consumers get their credit cards approved within 4 to 6 business days.

How Long does it take to get a Credit Card Approved from Bank of America if You Apply Online?

Mobile banking is becoming a better option for many individuals since it is fast and convenient when accessing banking services. Also, Bank of America allows users to apply for their credit cards online, which is easy to navigate. If you want to apply for a credit card, go to the official Bank of America website. You can select the most suitable credit card you wish to acquire from the credit card section.

Online application is free and does not require the applicant to visit any physical location for their credit card approval. However, the applicant should submit their correct details, including their social security number. The consumer should wait for the bank’s reply as it sets up the credit account of consumers.

If the reply takes too long, call the bank’s customer care service for further assistance.

When you submit the application online, the bank will respond to you after a few seconds using the following ways:

(i)                 There is instant approval on the application

(ii)               There is instant approval for application but for a different credit card offer

(iii)             The bank will need more time to review your application

(iv)             The bank has declined your card application

It might take a few hours for the approval of your request to go through or up to a month. Sometimes, you may be legible for approval of a different credit card than the one you had initially applied for. For example, a credit card may require a higher credit score than your current one.

Therefore, you will need to understand the different requirements of each credit card before applying.

After applying for the card, some applicants might get their response a few days after their initial application. Even though the approval process may take a few hours, the bank may need to review more details. However, if you have issues with applying for the card online, try using your phone with a stable network connection.

if there are more issues online that you cannot resolve on your own, contact the bank for further assistance.

How Long does it take to Get a Replacement Credit Card from Bank of America?

Some of the reasons that may lead a customer to replace their credit card may include:

·         If their credit card was stolen

·         If they cancel their current credit card and require a new card

·         If they lose or damage their credit card

·         If the current credit card expires

A customer can request a new replacement card from the bank through online banking or the banking app. You will have to enroll in online banking to access services from the online banking platform. The mobile banking app is readily accessible by downloading the application to your mobile device, making banking easier.

Use the following steps to apply for a replacement card online:

(i)                 Go to the Bank of America website and log in to the Online Banking section

(ii)               Select Order a new or replacement card option from the link

(iii)             Follow the on-screen instructions

(iv)             If you use the mobile banking app, log in to the app and select the Credit Card Account option

(v)               Scroll down to the Card Management option, then select the Replace Credit Card option from the link given

(vi)             Alternatively, tap on the Erica icon and text or say, “I need to replace my credit card”

(vii)           Follow the instructions to complete the process

Usually, the bank charges no extra fee when replacing a credit card from the Bank of America. If the bank charges an extra fee, they will indicate why, primarily due to unauthorized credit card use liability. It usually takes about 4 to 6 business days for the bank to process the new card.

However, in most cases, the bank will release the replacement card a month before the expiry of the current one.

What Are the Security Features Found in a Bank of America Credit Card?

credit cards

Credit card fraud is a widespread type of global crime that can happen to anyone. Therefore, it is necessary always to be vigilant and have measures set in place to avoid being a fraud victim. It is important to note that your personal information remains safe and private to avoid swindling by hackers.

Bank of America has security features that protect its clients’ credit card information.

Bank of America offers its customers methods by which they can keep their account information safe and secure. For example, you can download the Mobile Banking app to receive notifications on your phone about your account activity. Therefore, you will receive your account statements to see how and when your credit card has made any transaction.

You can set up custom alerts and push notifications on your card activity through the bank’s site.

Always ensure that the email and contact details that the bank has on your credit card account are up-to-date. If the bank detects any suspicious activity on your credit card, it will alert you through email or phone. If you monitor suspicious activity on your credit card through alerts, notify the bank immediately. Also, avoid sharing your login details with others to prevent your credit card information from falling into the wrong hands.

You can request the bank to offer you a virtual credit card that will link to your digital wallet for online purchases. A card security code (CSC) is a 3-digit number that acts as a security feature, especially for online purchases. Turn on your location while making purchases and sign in to allow security permissions on your phone.

However, you should be careful, especially when making online purchases and avoid unsecured sites which attract fraudsters.

What Should You Do If Your Credit Card is Missing

lost credit card

Report a missing credit card immediately if you notice that you do not have the credit card with you. The earlier you report a missing card, the earlier the bank will cancel the card and replace it. Also, you will have no liability for the fraudulent transactions that will take place after the credit card goes missing.

The bank will reimburse any money spent on such transactions after you report credit card fraud on the bank’s page.

Aside from reporting online, you can call 800.732.9194 if you are within the US and 1.757.677.4701 outside the US. The customer service and support team is available 24/7, ready to cancel your missing credit card immediately after reporting. If you do not have the necessary numbers, use the number on the back of your card.

Ensure you report suspicious activity on your credit card to the bank to avoid paying liability fees for fraudulent transactions.

How Long Does It Take to Get Approved for a Secured Credit Card from Bank of America?

A secured credit card differs from most credit cards because it requires the consumers to deposit money before applying. The difference between an unsecured and a secured credit card is credit deposits. Bank of America has a minimum and maximum amount of money for the credit deposit, depending on the applicant.

It is important to note that the credit limit might be lower than the deposit, depending on the bank’s review. Once the bank reviews the applicant’s details during the application process, it will set their credit deposit and limit. The bank will look at the applicant’s income, employment status, and credit score to determine their initial deposit.

Both secured and unsecured credit cards take the same amount of time for the bank to get the card approved for the consumer. Thus, it can take between a few hours to a few weeks for the bank to respond to the application. After the application process, the bank may take 4 to 6 business days to release the secured card.

The consumer may receive the credit card via mail within ten business days after processing.

How Long Does it Take to Get a Secured Credit Card from Bank of America?

Generally, it will take a few days to a few weeks for you to get your application approved by Bank of America. Then, the bank will process and release the card within 4 to 6 business days after your credit card approval. It will take about ten business days to get your new card through the mail.

Thus, ensure you submit the correct details of your home address when you open a credit card account.

You can check the status of your secured credit card online through the Bank of America credit card page on their site. However, it can take about the bank 1 to 2 days to review the details you submit in your online application. You can contact customer service for further assistance if you need expedited delivery for your new card.

Who Can Apply for a Bank of America Secured Credit Card?

A secured credit card is helpful for people who want to build or rebuild their credit scores. It is important to note that becoming an authorized user on another person’s credit card will impact your credit report. Their credit history will impact your credit score, which may cause a bad credit score if theirs is terrible.

Therefore, getting a secured credit card is the best option if you wish to build your credit score.

Also, people with bad credit scores can apply for a secured credit card. Therefore, the bank can grant you a secured card if you previously had a bad credit score or poor FICO scores. The FICO scores are a measure of credit scoring that shows how you manage finances according to your credit reports.

Thus, depending on your credit and FICO scores, Bank of America will determine your credit deposit and card limit.

What is the difference between FICO scores and credit scores?

A credit score consists of three digits that measure your strength when it comes to your financial abilities. Bank of America will require your credit score to see whether you are eligible to apply for a credit card. Additionally, credit scores will significantly impact the APR and interest rates you will have on your credit card.

The bank will find all your credit history in your credit reports, which will significantly impact your credit score.

FICO scores are a form of credit scoring model, among several other models such as the VantageScores scoring model. Bank of America will decide which scoring model is most suitable for the customer depending on their financial capabilities. FICO scores mostly stand out when the bank wants to gauge their customer’s ability to pay their debt.

Thus, FICO scores fall under types of credit scores that the bank can obtain from your credit report.

Sometimes, you can have different FICO scores depending on the type of version and use of the scores. The different versions of FICO scores are always up-to-date, providing the bank with a uniform scoring method. However, FICO scores will range from 300 to 850, with 850 showing you have an excellent score. Always ensure your credit history positively impacts your credit reports to improve your credit and FICO scores.

To improve your credit score, especially when applying for a credit card, try doing the following:

·         Make your credit card payments on time

·         Keep your old accounts open to increase your credit age

·         Limit your credit card applications

·         Lower your credit card balances

·         Avoid collecting penalties due to lack of credit payment to the bank

What are the Pros and Cons of the Bank of America Secured Credit Card?

Depending on their application, Bank of America offers its customers a few secured credit cards. Secured credit cards have several benefits but may also negatively impact the cardholder. There are a few credit card offers that give consumers benefits, depending on the card they are approved with.

However, the security card is a better option for those with bad credit scores or those building their scores.

The main benefit of the Bank Americard secured card is that the bank may return your credit deposit. If you keep up with the credit card payments and your credit score improves, the bank can return the deposit. Thus, the secured credit card can become an unsecured credit card if the bank approves your credit history.

However, not all customers using a secured credit card will be legible for the benefit.

Also, the bank offers a 0 annual fee or any fee for opening the account for the secured credit card. However, the secured card holds a very high annual percentage rate, which ranges at about 25%, depending on the cardholder. Annual percentage rates (APR) usually affect the total interest rates to be paid back to the bank. Thus, Bank Americard has high APR than competitive rates from other cards.

The Bank Americard secured credit card offers no reward programs to the cardholder, unlike the bank’s other cards. Also, the bank will charge a higher balance transfer fee and foreign purchase transactions to the card. Thus, the Bank Americard secured credit card has fewer benefits and is more expensive than competitive rates on other cards.

What are the Differences between a Prepaid Card and a Secured Card?

prepaid card

A prepaid card works to make a personal purchase and other transactions, just like a debit or credit card. However, you will need to top up the card with a certain amount of money before using the card. A prepaid card will not link to your checking account; thus, you must top up the card frequently. You cannot spend more than the money you load on the card since it is not covered by overdraft protection.

Prepaid cards work best for parents who want to teach their children how to manage their finances. Also, you can use a prepaid card if you have an issue with overspending and are looking for ways to control it. Bank of America has a variety of commercial prepaid cards for all its customers.

Prepaid cards will conduct transactions anywhere that accepts a Visa, MasterCard debit, or credit card.

A secured card works by first depositing a credit deposit during your credit card application. However, the bank will not use the deposit as the fund you need to finance your purchases and transactions. Thus, you will have to pay back the credit you use for your personal finance and transactions.

Sometimes, the bank will review your credit history and may give back your credit deposit if you qualify.

Secured credit cards will help build your credit score, but prepaid cards will not build your credit score. Additionally, people with bad credit scores can apply and receive a secured credit card to rebuild their credit scores. Therefore, it is essential to keep up with the credit card payments for a positive card report.

 How Long Does It Take to Get a Working Credit Card from Bank of America?

The customers applying for a credit card must submit their accurate information to the bank. For example, they must fill in their current age, employment status, home address, and social security number. If the bank needs further details, then the customers should be ready to submit the details.

If the customer gives the bank information, whether online or physically, the bank secures information from external scammers and hackers.

After the customers submit the details, the bank will begin analyzing the application process. If the bank is delighted with the customer, they may give instant application approval. However, customers may be approved for a credit card within 1 to 2 business days or a few weeks.

Sometimes, the application review might take up to a month, but the bank will inform the applicant.

The bank may take 4 to 6 business days to release your credit card after completing the application process. Then, the bank will need another ten business days to mail the credit card to your home address. However, you may request expedited shipping from the bank if you need the card urgently.

The bank will not charge you any extra fee for expedited shipping, especially if you are within the country.

How to Activate the Credit Card

When you receive the credit card, you will need to activate it before you start using it. You can activate the credit card online once you receive it using the following steps:

(i)                 Visit the Credit Card Activation page from the Bank of America website

(ii)               Alternatively, you can log in to your Mobile Banking app

(iii)             Then, select the Card Account which you currently use

(iv)             Scroll and choose the Card Management option

(v)               Click on the Activate Card button

Additionally, you can call the number on your credit card’s back to ask for further assistance. The bank staff will help you activate your card, which will then be ready for use.

How Long Does It Take to Get a Credit Card in the Mail from Bank of America?

mail

Once the bank releases your credit card after the application process, the bank will send the card within ten business days. Thus, it is important to crosscheck the correct address so that you can receive the card through the mail. The bank will not charge any extra fee for mailing the credit card to your selected address.

If you change addresses, ensure that the bank is always up-to-date with your current details.

However, in case of any urgency, you may request expedited shipping from the bank without any added fee. The bank will indicate why you may incur any extra fee for your card through expedited shipping. You will receive your credit card via mail within 1 to 2 business days if you request expedited shipping.

Why Might Bank of America Credit Card Approval Take Longer?

The response time may take a few seconds when applying for a Bank of America credit card online. The bank might give some customers instant approval, especially if their credit reports are approved. However, the bank usually takes about 1 to 2 business days to thoroughly review the applicant’s credit report.

In some cases, the review process after application might take the bank up to a month.

The bank will check several factors before the customer gets approved for a credit card. Customers need to fill in accurate information for their credit card application, for a new or replacement card. After the customers submit their details, the bank will crosscheck the information to see whether they fit for application.

Mostly, the bank checks for the applicants’ credit reports which contain personal information, public records, and credit accounts. Also, the credit reports will show other companies with access to your credit history. Thus, the bank will know whether you have good or bad credit scores and how you manage your credit funds.

Thus, depending on the information you have on your credit report, the bank will know whether you qualify for an application. Sometimes, a customer may be legible to receive a different credit card from the one they apply for. The bank offers further assistance to direct you and guide you to apply for the card that most suits you.

The application process may take additional time to get your credit card approved.

Who Can I Call at Bank of America if it Takes Too Long?

Bank of America usually has many staff members to cater to millions of customers. Their customer service reputation is impeccable, ensuring customers can rely on them anytime. Customer service support is usually available 24 hours a day, every day of the week. Thus, whatever issue may arise, they will always be there to meet the needs of their customers.

Bank of America has a customer hotline that customers can use to get to them through secure messages or calls. The Bank of America customer service number to check your application status is 866.422.8089. the staff will help sort out any issue with your credit card delivery.

However, the bank may still be reviewing your application, which may cause a delay in your approval. Also, if you change your address without informing the bank, you may not receive your credit card through the mail. Thus, if you need to update your details, always contact the bank to ensure they have your current information.

How Can I Find Out the Status of My Credit Card Application at Bank of America?

You can visit the Bank of America website to check your credit card application status. Log in to the website, navigate the “Credit Cards” section, and select the “Application Status Center” option. Then, search for the “Check Application Status” option and follow the on-screen instructions from the page. You will find a form that requires you to fill in some details that match your credit card information.

The details should be the same as those you put in during your credit card application for verification purposes. If you cannot check the status online, try contacting the bank by calling their customer service number. The number is 866.422.8089, where you will receive the help you need from the customer care support staff.

In case of additional inquiries, the bank will direct you to more ways to receive assistance concerning your card application.

A section on the same web page is shown as “Complete my saved application.” The credit card application process allows the applicant to save their application online, where they can resume the process later. However, you will need to resume the application before 30 days expire, or you will start the application process again.

How Can I Speed Up this Process?

speeding image

Sometimes, it may seem like the Bank of America might take too long to deliver your credit card. The status of your credit card application should show you have been approved for a credit card. Thus, the bank will mail you the credit card within ten business days, which might seem too long.

For some, expedited shipping is not an option since it may not be legible to the customer.

Bank of America offers its customers a virtual card they may use instead of a physical credit card. Virtual cards are the digital versions of the credit card that Bank of America may give applicants after approval. You can request the virtual card from the bank after you have been approved for a credit card. If you have the mobile banking app, request a virtual card to use credit services for online purchases.

The virtual card has a unique set of numbers that are different from the credit card you currently own. Even though the virtual card will facilitate payments and personal finance like your credit card, it will be unique. The credit card might get stolen, but it will not affect your virtual card, making it safer to use. Additionally, you will still get the benefits, rewards, security, and protection the physical card receives.

The last four digits on your virtual card will differ from those on your physical card. Therefore, if you conduct online purchases, the receipt will show the last four digits of your virtual card. Your digital wallet will carry all information regarding your credit card, giving access to your virtual card.

Thus, your credit card information will remain intact even as you use your virtual card for online purchases.

What is the difference between a digital wallet and a virtual card?

A digital wallet is an online financial platform allowing a person to make contactless payments. For example, common digital wallets include PayPal and Google Pay, which allow you to store your credit or debit card information. With digital wallets, you can track your personal finance, store your funds, and access financial services.

Therefore, you will need to download an application to access the digital financial platform and make transactions from your phone.

A virtual credit card is a unique set of numbers that you use in place of your credit card to conduct an online purchase. The card number on the virtual card will differ from the card number on the physical one. The virtual credit card acts as a temporary credit card that will be disposed of after every purchase. Thus, the virtual credit card will have different numbers for every purchase, protecting your credit card information.

The main difference between a digital wallet and a virtual card is that a digital wallet is software. You will have to download the application and create your account to access the financial services it provides. However, a person can only use a virtual credit card for conducting online purchases without a physical card.

You can request the bank to provide a virtual credit card before your physical card arrives in the mail.

The primary importance of a virtual card is that it offers you better security from online fraudulent activities and hackers. Since the card number on the virtual card is unique, the hacker will not trace your physical credit card. Also, the hacker cannot use the same virtual card number since new sets of numbers are generated after every purchase.

The virtual credit card is secured in your digital wallet since the digital wallet tracks all your transactions.

What to do if the Request is Denied?

denied request

Sometimes, the bank might completely deny your credit card application for any of their credit cards. If your credit report shows a negative trend, the bank may not consider you a cardholder. The bank will indicate why you were not approved for a credit card at any given time.

However, you may ask for further assistance from the bank to guide you as you wait to apply later.

The main reasons that Bank of America may deny your credit card application include:

·         Late or delayed credit card payments

·         Very low credit score and income

·         Submitting applications for several new credit cards at a time

·         Having too many Bank of America credit cards existing at a time

·         Picking a card with many restrictions

·         Having no banking investments with Bank of America

·         Too many hard credit inquiries

Even though Bank of America may deny or not approve your credit card application, it will not affect your credit. However, your overall credit score may drop slightly because of hard credit inquiries from lenders, such as the bank. Thus, you should monitor your credit reports regularly and wait before applying for another credit card.

Additionally, know the minimum credit requirements that the bank needs before you submit your credit card application.

Alternatively, try being an authorized user on another person’s credit card. Be careful to choose a person with a better credit score as their credit score will impact yours. Thus, you will grow and build your credit score, making it legible to apply for a credit card.

Find out the reason why your credit card application was denied and work towards improving your chances for approval.

Where Can I Find a Bank of America Agency in US?

Bank of America tower

Bank of America has several agencies, financial centers, and offices throughout the US. The bank’s headquarters is the primary official corporate center in Charlotte, North Carolina. Although you can solve several issues concerning your credit card online, Bank of America offers further assistance in their offices.

The bank’s financial centers also provide further financial assistance concerning your credit cards and bank account.

One of the crucial jobs of the financial centers is to offer help and resolve issues brought by the customers. The following is a table that shows different offices and financial centers spread out through the US:

Main offices

Address

1.      Charlotte, North Carolina

100 North Tyron Street

Charlotte, North Carolina 28255

2.      New York

One Bryant Park

New York, New York 10036

3.      Chicago

135 S. LaSalle Street

Chicago, Illinois 60603

4.      San Francisco

315 Montgomery Street

San Francisco, California 94104

5.      Miami

701 Brickell Avenue

Miami, Florida 33131

Main financial centers

Address

1.      New York

105 Broadway

New York, New York 10038

Tel: +1 212-406-0575

2.      Tampa

101 R Kennedy Blvd

Tampa, Florida 33602

Tel: +1 813-225-8153

3.      Kearny

240 Kearny Avenue

Kearny, New Jersey 07032

Tel: +1 201-997-1609

4.      Los Angeles

888 W 7th Street STE 100

Los Angeles, California 90017

Tel: +1 213-614-0961

5.      Boston

100 Federal Street

Boston, Massachusetts 02110

Tel: +1 617-434-3412

6.      Princeton

90 Nassau Street

Princeton, New Jersey 08542

Tel: +1 609-430-2069

The financial centers offer their telephone numbers if you have queries, but you cannot reach the physical address. Generally, the bankers will address your concerns to provide you with help regarding all your financial issues. The consumers can get their opinions expressed directly to the bank through the customer service within the bank’s physical location.

Why Does Almvest.com Writes to Bank of America’s Customers?

Bank of America is one of the leading financial institutions in the US and globally. Hence, it serves millions of customers daily, from handling bank accounts to providing credit cards. Thus, it is not uncommon that issues may arise regarding different financial services which the bank provides.

Almvest.com works to provide the necessary information relating to customers investing in Bank of America.

Usually, the real-time issues that arise usually come from the audience and the Bank of America’s customers. Sometimes, the information you get from the internet may be misleading, causing more harm. Therefore, Almvest.com has taken the time to filter out all necessary information and provide the correct answers.

Customers can rely on Almvest.com to provide information instead of spending hours researching online.

However, if you feel like the answers you receive from Almvest.com are unsatisfactory, please feel free to contact the bank. Almvest.com usually works with the opinions expressed by the Bank of America credit card consumers. The customer service from Bank of America will be ready to assist you and offer other solutions.

Additionally, you can visit the physical location of the bank’s agencies and financial centers for more help.

What Does the Article Highlight?

article feedback

The article explains how long an individual may take to receive a credit card from Bank of America. Also, it highlights how long the approval may take, including what may cause a delay in approval from the bank. Some other sources of information may be misleading, giving customers a false sense of security. Therefore, Almvest.com has dug deeper to find the correct information regarding Bank of America credit cards.

Bank of America credit card approval varies from individual to individual due to various reasons. Different factors will affect the duration of a particular person to receive their credit card after application. However, the process will take about 15 to 20 business days if you meet all credit requirements.

Also, different factors may affect the time taken for credit card application, release, and mailing to the customer.

Even though Almvest.com provides the necessary information on what a customer should know during the application, please check with the bank. Every applicant’s needs differ during credit card application, and the bank will cater to everyone’s needs. However, applying for a credit card is not an uphill task since Almvest.com shows that you can easily apply for one.

Bank of America is open to all its customers, highlighting the opinions expressed by its customers for better service.

Conclusion

Bank of America is one of the leading banks in the US and the global market. Bank of America provides excellent customer services, ensuring anyone can access financial assistance. Bank of America has different types of credit cards to cater to the needs of different types of individuals.

Once you submit your details for the credit card application, the bank will give you proper responses after reviewing the application.

The bank might take about 4 to 6 business days to release your card after your approval. The bank will mail the new card within ten business days unless you request expedited shipping. Although mailing the card is usually free, the bank will indicate if they charge you an extra fee.

In case of further queries concerning your credit card, Bank of America will give further assistance.

Frequently Asked Questions

How long should I wait to apply for a credit card after my application was denied?

Bank of America can deny the credit card application of a customer depending on several issues that may arise. A good example has a terrible credit score, having too many open credit cards, and recent hard inquiries. The bank will indicate the reason for the denial and offer a solution regarding your credit card application.

Most credit cards will need you to have a new card application after 3 to 6 months. Some take up to 24 months for another online application after closing their Bank of America credit card account.

Is there a limit to the number of credit cards I should have?

Bank of America usually has application rules to manage the number of credit cards each cardholder should have. The 2/3/4 rule shows how often a customer can be approved for a credit card in a month. The bank indicates you can have two new credit cards in two months and three within twelve months. Also, you can only have four credit cards existing simultaneously every 24 months. Too many existing credit cards will limit the chances of your approval for a new credit card.

Can a non-US citizen apply for a Bank of America credit card?

Bank of America offers applications for their credit cards to all, even those not citizens of the US. However, non-US citizens will need to be within the borders of the US to apply for a credit card. You cannot apply for a Bank of America credit card outside the country, but you can use the card globally.

For non-US citizens, the bank will require further proof of identification before becoming eligible for a credit card. Once you have all the necessary requirements, visit any financial center to start your credit card application.

What are credit card limits?

Credit card limits are the maximum amount of money that Bank of America will allow the cardholder to spend. The credit limit varies from one card to another, depending on the type of card and the cardholder’s credit score. Also, the cardholder’s income, employment status, and overall debt will affect their credit card limit.

Those with a good credit score can apply for overdraft protection to extend their credit limit on the card. Thus, ensure you have a good credit history of increasing your chances of having a higher credit card limit.

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