(App'd & Declined) Going to Apply for Bank Of America Cash Back Card

[skyisthelimit]

I would wait untill the 2 year mark then start apping for some heavy hitters, if you have a good income 40k+ you should qualify for some good cards with your score boosted another 10-20 points.

[skyisthelimit]

Oh and reason why I said that is you already have 3 cards, extra cards really will not help your score go up; if your wanting to eventually be at 5k+ cards (though they do help with your age later!)  My suggestion is just wait and don't open any more cards.  GL

[CK_Charles_Lover]

I'd probably be happy with that card if I were you. You got your foot in the door with BOA at least.  It will grow as will your credit file with PATIENCE! 

[Anonymous]

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@skyisthelimit wrote:

I would wait untill the 2 year mark then start apping for some heavy hitters, if you have a good income 40k+ you should qualify for some good cards with your score boosted another 10-20 points.

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i hv 80k income, how they check income? I beleive income is not reported to bureaus. 

[CK_Charles_Lover]

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@Anonymous wrote:

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@skyisthelimit wrote:

I would wait untill the 2 year mark then start apping for some heavy hitters, if you have a good income 40k+ you should qualify for some good cards with your score boosted another 10-20 points.

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i hv 80k income, how they check income? I beleive income is not reported to bureaus. 

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Income is not reported. What I think Sky meant that is if income is high enough for heavy hitter cards that he will be "eligible" for them and score will boost from that. 

[Revelate]

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@Anonymous wrote:

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@skyisthelimit wrote:

I would wait untill the 2 year mark then start apping for some heavy hitters, if you have a good income 40k+ you should qualify for some good cards with your score boosted another 10-20 points.

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i hv 80k income, how they check income? I beleive income is not reported to bureaus. 

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Pretty much all lenders ask for this data.

If they don't believe you, they'll ask for proof (income verification).

[Anonymous]

I dont think I ever have had to provide income verification for any loan in my life besides my mortgage

[Anonymous]

I called buy they denied, because of lack of history. I would apply after 3-4 months or look for other cards once I complete 1 year of history.

[Revelate]

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@Anonymous wrote:

I dont think I ever have had to provide income verification for any loan in my life besides my mortgage

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Auto loans.

CU's.

Amex and others if they suspect you of fraud.

Plenty of them do.

[Anonymous]

Applied, declined, recon, still declined, high utilization...maybe is better it didn't get approved, will try to use debit card more....