What you don’t know about FICO Score Requirements for Bank of America Credit Cards

Bank of America is one of the largest issuers of credit cards in the United States. With a strong presence in both personal and business lending, they offer many different types of credit cards for their customers to choose from. If you are interested in applying for a Bank of America credit card, then it’s important that you understand all the requirements that must be met before they will approve your application. In this blog post we will discuss the FICO score requirements required to obtain a Bank of America credit card, as well as what type of factors affect your FICO score and how these numbers can be improved.

What is the lowest FICO score for a Bank of America credit card?

It depends on your total debt.

Now that we’ve covered the types of Bank of America cards and qualifications you need, it’s time to talk about credit scores. You may have seen that the minimum score for a card is 620; however, this still leaves some ambiguity because 620 can be translated to different FICO ranges depending on your total debt.

For example, if your total amount of indebtedness is less than $670 on revolving credit accounts (i.e., Credit Card) then your 620 score would translate into 740 + (620-734). This means that with just one credit card account and a balance below or equal to $670, chances are good you could qualify for a BofA card at the lowest possible FICO score.

Or, if your total amount of revolving debt is greater than $670 then you would have to obtain a FICO score of 720 or higher for eligibility with the Bank at that level or more indebtedness.

How can you improve your credit score to be eligible for a Bank of America card?

There are several different ways to improve your credit score, and a Bank of America card is one way that you can put yourself on the path to financial stability. The best thing for you to do is first check your credit report before applying so that there are no errors or mistakes from your previous lenders. You will also want to make sure that all of your bills are paid on time, and that you don’t have any outstanding balances.

What is the highest FICO score for a Bank of America credit card?

The highest ever recorded FICO score for a Bank of America credit card was 850. This is much higher than the minimum requirement; however, it’s important to keep in mind that the number of credit cards that you have and your total debt are also factors in determining your FICO score.

What credit bureau does Bank of America use for credit card

Bank of America is the most likely bank to check your Experian Credit report is required when you apply for a credit card. Bank of America will switch to Equifax after Experian. TransUnion data will be used only if required by the bank.

In this blog post, we’ve covered all the FICO score requirements for Bank of America credit cards. Whether you need a minimum 620 or 720 to qualify is dependent on your total debt, and each type of card has its own set of qualifications too. If you have any questions about how these numbers can be improved or what factors affect them, please leave us a comment below!

Leave a Reply