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BOA Accept or Decline

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red259
Super Contributor

Re: BOA Accept or Decline


@CreditCuriousity wrote:

@red259 wrote:

@Anonymous wrote:

@red259 wrote:

@Anonymous wrote:

I applied for a BOA cash rewards card and now they are offering me secure card with $99 deposit. Should I accept it or decline it? All of my credit cards and limits are listed in my signature below.


Are some (or all) of those AUs? A 22.7k citi double cash? Why would they be offering your a secured card? If you are the primary card holder for any of the cards listed then my answer would be no, you should not accept. 


I am the primary card holder on all accounts listed. Not sure why they want to give me secure.


Since that the case then I can not see any reason to agree to this. It is totally absurd. I don't know how BoA is with recon, but I'd try to call in and see if they will reconsider because this makes no sense at all and is rather insulting to be honest. 


I would also call and UW and recon that offer as I have seen secured overturned to unsecured before...  Mention your other lenders and CC, but state you want to use their CC as your main credit card and a secured card isnt an option and if they will look at your profile to override the system secured offer  to unsecure offer.  Someone will post the current back door/analyst number for you in this thread.  You already took the HP call and recon or try to recon for an unsecured card.  If those are your cards and limits I would think you scores are in the 700+ range wich is well within BofA acceptance criteria.  


+1 I'd pull your credit reports as well to make sure there isn't something weird showing up there that you are not aware of. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 11 of 19
UncleB
Credit Mentor

Re: BOA Accept or Decline


@red259 wrote:

@Anonymous wrote:

@red259 wrote:

@Anonymous wrote:

I applied for a BOA cash rewards card and now they are offering me secure card with $99 deposit. Should I accept it or decline it? All of my credit cards and limits are listed in my signature below.


Are some (or all) of those AUs? A 22.7k citi double cash? Why would they be offering your a secured card? If you are the primary card holder for any of the cards listed then my answer would be no, you should not accept. 


I am the primary card holder on all accounts listed. Not sure why they want to give me secure.


Since that the case then I can not see any reason to agree to this. It is totally absurd. I don't know how BoA is with recon, but I'd try to call in and see if they will reconsider because this makes no sense at all and is rather insulting to be honest. 


+1

 

Even if you decide not to recon, I would still use the opportunity to get a free copy of the credit report they are using, just to make sure there's not something 'weird' going on.  Smiley Wink

 

 

Edit:  red259 beat me to it!  Great minds think alike...  Smiley Very Happy

Message 12 of 19
Anonymous
Not applicable

Re: BOA Accept or Decline

I would tell them to pound sand.

Message 13 of 19
red259
Super Contributor

Re: BOA Accept or Decline


@Anonymous wrote:

I would tell them to pound sand.


I agree but since they already took the inq its worth seeing if they can get the card. Its not personal, its business. Smiley Happy

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 14 of 19
lindsaydruart
Established Contributor

Re: BOA Accept or Decline

DH has a similar issue with BOA. He has a mortgage and a credit card with them. Only a $500 limit and they won't raise it but has 15k with USAA and 11k with RBFCU with an 802 credit score. He only keeps it open because it is so old.

Gardening since 12/15/2019. Goal 12/15/2021
FICO 8 as of 12/16/2019 - EQ 602 EX 656 TU 628
Message 15 of 19
Anonymous
Not applicable

Re: BOA Accept or Decline

BoA is very recon friendly and the people are easy to talk to. Hope they can get you unsecured and a nice limit!

Message 16 of 19
lg8302ch
Senior Contributor

Re: BOA Accept or Decline


@Anonymous wrote:

@CreditCuriousity wrote:

IMO you appear to have better cards already and kinda past the secured card even if it graduates.. just my 2 cents


Yes you are correct. I will be passing the offer.


Good decision in my opinion. Which "exotic"  card did you apply for that BofA comes back with a secured card? I am a bit puzzled with your current line up. If you really want to be in with BofA then call and see if they can do any better and give you the card you applied for but decline that secured card.

Message 17 of 19
Anonymous
Not applicable

Re: BOA Accept or Decline

I'd call into UW from the backdoor thread.  Surely they can get you in with something unsecured. To parrot what others have said there may be something lurking in your reports?

 

I will say this, it took me several recons and utlimately applying with a coapplicant to get approved....but it was well worth the hassle. 4 months later, nearly 8x the credit, and the paperwork to remove the coapplicant is processing as we speak.

 

I would probably be very hesitant to take a secured card if I had 20k+ limits....but in the grand scheme of things BOA knows what a real CLI is...they mos def make the HP worth it....

Message 18 of 19
pizza1
Community Leader
Super Contributor

Re: BOA Accept or Decline

I may not have the cards you do, or the scores, and Im certainly way past the secured card thing myself with the amount of credit I have......but...I took the offer when I got it, and hoping it unsecured before the 12mo mark.

If not, thats ok too, Im gardening and in no hurry. It was an "in" with BOFA, whom Id never had before in my life, and had been declined several times in the past. I went with it, knowing that it unsecures, and eventually my CL will be a nice down the road. I got the cash rewards. Smiley Wink
Message 19 of 19
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