Bank Of The West 60,000 Point Business Credit Card Offer (Worth $450) [AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY]

The main question is, will this show up in personal credit for 5/24?

i hate this bank..

I called about 4 different numbers (local branch, BofW customer service, rewards program, business credit cards) and no-one was able to give me the answer regarding redemption options/rates for the 60,000 points (outside of gift cards), even after a 3-way call between departments.

The redemption rate for things like statement credit is not mentioned anywhere on the website – in fact, statement credit as a redemption option isn’t even mentioned as an option. No guarantees that it is 0.75c/point like gift cards, in fact I suspect it may be even lower, like 0.5c, so I’m gonna be wary on this one until I can get more info.

I talked to 2 CSRs and a Business Rep in a branch. I got 1 Yes, 1 No and 1 maybe. The Business Rep said he personally knew of people he opened cards for that it reported onto the 3 Consumer Bureaus – they had specifically mentioned it to him. He claimed you needed to have a “Corporate” account to not report to the 3 Consumer Bureaus, in which your tradeline would be over 50K and you would need some sort of a guarantor. Hopefully this information helps, but it looks like it will not be a good deal for most people.

Shouldn’t this go on the “top credit card” list? 9% back not restricted to travel? no fee. Or at least mentioned.

https://www.bankofthewest.com/small-business/credit-cards/business-rewards-mastercard.html

statement credits and gas cards are available: Not sure at what point value though

http://www.bankofthewestrewards.com

Just started the process to get this card. They’re pretty intense and most folks here won’t want to waste their time.

First they said I couldn’t apply, even though they are in my state (WI). I pushed back and asked them to reconsider, and then a business banker emailed me to setup a time for an introduction phone call.

After talking this morning with the banker it seems like it would be impossible to get approved for this card without a real business. I have a business with $2M annual revenue and real spend, but even still they want to see both personal and corporate tax returns to even apply for the card. They also want me to open up a business checking account to get the card, which I will try hard not to do.

I plan to apply, after their underwriting reviews my app which takes about a week. Will followup with any other DPs

I stopped by my local branch today and asked about this card. Picked up a fancy brochure and the one page application. Don’t know who Austin dealt with but my rep said there were no tax returns needed for this application.

Brochure provides two examples for statement credit:

7,500 points = $50 statement credit (.6667 cents/pt)
25,000 points = $200 statement credit (.8 cents/pt)

So, assuming the redemption doesn’t improve above 25,000 points, the 60k bonus is worth $480, or actually $560 once you include the 10k points from the initial $5,000 spend.

That makes an 11.2% return on a $5000 spend, which is way better than the 2% non-bonus category spending I’m getting now. I don’t think the card is a keeper because at best, 2x points really means 1.6% cash back, but I’ll gladly take the bonus.

I’d be interested if 1) could do with a “business” and 2) doesn’t report to personals. Sounds like neither of those are true from the scant comments here though. But I’ll follow the thread for more info, and maybe when my business gets off ground and I give up on 5/24 its worth doing.

Direct Link above doesn’t work anymore. Offer still available via:
https://www.bankofthewest.com/small-business/credit-cards/business-rewards-mastercard.html

Bank of the West is also offering a $300 business checking bonus for having at least a $3000 balance on the last day of each of the two full calendar months following account opening. 10 qualifying transactions required within the same two months.

https://www.bankofthewest.com/campaigns/small-business/business-checking

I dont think this one used to have an online app. Maybe its worth doing now.

On the page it says “For businesses in existence less than 3 years, visit a branch for credit card solutions dedicated to you.”

I opened up a Biz checking and was pre-approved for this CC so applied. I didn’t get a TU or EQ pull, but I’m not sure about Experian. The banker said I would be receiving the card in 7-10 days, but he didn’t confirm I was approved, so I wasn’t really sure. He seemed to think it would report to personal bureau so I took a chance.

Applied to and was rejected for this card today. Applied as a “business” through the online portal and called in via a number that a branch rep gave me to check the status of the application.

Central rep told me that my application went through, but that it wouldn’t proceed any further because $3k was not enough revenue and that it was internally flagged by the system as too little. No HP, and rep recommended I talk to a branch manager about the “business builder” funding (unsure if it’s a credit card) I can get from the branch.

I asked him about what I had to do to qualify for this card, as I hoped to increase my revenue past the $3k mark this year. He said that the system automatically flags anything under $50k revenue as “do not proceed” and rejects the application without a hard pull. He also mentioned something about there not being a duplicate application in the system, so applications definitely stay in there for some time (I would guess 30 days).

If you’re applying online as a “business”, I would recommend you:
1.) Have a “business” for at least 3 years, as otherwise it prompts you to go into the branch.
2.) Say at least $50k of revenue last year, although that may prompt them to require verification.

Alas! I got two of these cards! What happened is that I had applied online and proccesing the application. Then I visited a branch to open a business checking and then Manager told that I am pre-approved for this card. I said yes. Then both cards arrived in separate mails. Now asking advice –

Do you think the bank will give me bonus if I separately spend 5k by each of them?

What wil be my best strategy?

NL beat2def Jay Ferris William Charles

– Applied on 10/30/2019. Sole Prop biz.
– Met MSR on 12/15/2019 (Offer terms states bonus will post within 150days of account opening)
– Bonus posted on 02/19/2020
– Successfully cashed out 70,000 pts (ACH) $525 on 02/24. Pts are worth 0.75cents each.

Main Takeaways:

– According to comments, they are a bit strict on approvals. I also did their Biz checking bonus, and was automatically offered this offer which I am sure helped.
– HP on Experian
– Most people ask this: **It Does Not** report to personal reports. I checked all 3 bureaus.