Finally a denial - BofA should I recon?

[Anonymous]

Well I figured eventually someone would auto-deny for too many accounts, and it appears Bank of America is that lucky someone!

Computer auto-denied when I applied for Travel Rewards Visa Sig around midnight a couple weeks ago, and the letter finally arrived today, confirming that "after careful consideration" (aka the 5-10 seconds that the computer analyzed my Experian report), they could not approve me for this card due to too many inquiries on my report.

Given that I already took the HP (though it didn't lower my EX any more, as expected) I figured I may as well recon but would like any tips or suggestions on how to weasel my way into an approval since I do indeed have a relatively high number of EX inquiries because they are the most-pulled bureau for my state. I believe right now I have 10 on EX within the last year, 5 in the last 3 months.

My first thought was to explain how as I have become more credit savvy from studying the forums, a shift to travel rewards cards and away from direct cash-back has become my focus. Do you think that will work, and or have any better suggestions?

Thanks guys!

[Anonymous]

The myFICO wisdom says to always recon. Say you need to travel a lot more for work now that you've been promoted, give the impression that you are doing well at work, new responsibilities and whatnot. Maybe add you want the Visa Signature benefits? Adding that you always PIF or leave small balance or are otherwise in good DIT/low util position is always good as well from what I've seen

Good luck!

[Anonymous]

Call the senior credit analyst in the am.  They're pretty nice  No bs.  Good luck.  

[Anonymous]

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@Anonymous wrote:

Call the senior credit analyst in the am.  They're pretty nice  No bs.  Good luck.  

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Thanks guys - gonna call them in a few minutes. Cross your fingers please!

[kdm31091]

The BOA travel rewards isn't really anything different than a cash back card. It's just cash back you can only use for travel. So for real travel cards, it doesn't really fit the bill.

As far as recon, you do have a lot of new accounts so that will be hard to overcome but no harm in trying. Keep your expectations low. You'll want to garden awhile. If you apply for everything out there you will end up overwhelmed a few months from now and wanting to close cards. We've seen it many times. Good luck.

[Anonymous]

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@kdm31091 wrote:
The BOA travel rewards isn't really anything different than a cash back card. It's just cash back you can only use for travel. So for real travel cards, it doesn't really fit the bill.

As far as recon, you do have a lot of new accounts so that will be hard to overcome but no harm in trying. Keep your expectations low. You'll want to garden awhile. If you apply for everything out there you will end up overwhelmed a few months from now and wanting to close cards. We've seen it many times. Good luck.

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Thanks KDM I am aware of the card's function, but applied while in a state of nonsensical thinking, and figured I may as well pick it up for at least the sign-up bonus since the HP has already happened.

Within the next 3-6 months or so I may do a bit of house cleaning once it is clear which cards are going to best serve me for the time being. On the other hand, I suppose there is no harm in keeping a no-AF card around for profile thickness and history.

[kdm31091]

How did the recon go?

[Anonymous]

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@kdm31091 wrote:
How did the recon go?

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I decided to wait a few days and see about the Arrival+ app first. Between those two "not really travel" cards, I would rather have the Arrival+ for a try, mostly because I don't currently have a Mastercard with no FTF, and I don't want to get accepted for both right now because of the sign-up bonus spend requirements lol

If Barclays doesn't approve the Arrival+ in the next few days I'll grab the BofA card. pretty sure it would be an easy recon since the only thing the computer listed was too many inquiries and that bank has a good recon reputation for overturning auto denials if all your ducks are in a row.