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Bank Of America Cash Rewards - Denied

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B335is
Moderator Emeritus

Re: Bank Of America Cash Rewards - Denied


@knoregs wrote:

@enharu wrote:
You should check your chexsystem report. Most lenders pull that as well for credit apps. If possible, try to have those derog(s) removed, otherwise it may affect you for other credit apps as well.

Is this correct? Can anybody verify? I can understand for like a credit union membership but has anyone been turned down for a loan/credit card because of a ChexSystem entry?

 

~kn


I haven't heard of any denials on info obtained from ChexSystem besides Credit Unions, but I can definitely see it being a reason if you're seeking credit from said lender.  US Bank is known to also pull ARS/IDA.

Message 11 of 28
xgac12x
Established Contributor

Re: Bank Of America Cash Rewards - Denied

So I just got off the phone with BoA, and it turns out the account that was "overdrawn" and the cause of my denial was not closed correctly. It was left open by the bank teller, and then charged monthly fees. So the person on the phone refunded the monthly fees and brought my balance back to zero where it was suppose to be. 

CARDS: CAPONEQUICKSILVERONE - $3,000.00
Message 12 of 28
09Lexie
Moderator Emerita

Re: Bank Of America Cash Rewards - Denied

Now recon your denial ESP since it was their error.
Message 13 of 28
enharu
Super Contributor

Re: Bank Of America Cash Rewards - Denied

If it's their error, try calling the reconsideration line. Should be an easy fix then.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 14 of 28
xgac12x
Established Contributor

Re: Bank Of America Cash Rewards - Denied

Yeah I am going too tomorrow, they are only open 8-5. I called at 5:05 today of course not knowing the hours Smiley Sad 

 

But this is all good news, I am ready to get this card and go to the garden for a while! I have all the cards I want! (Well so far, just need to get approved for the BoA card and I'll be set haha)

 

PS Thanks again guys! Couldnt of done it without the help of the forum! I wouldnt go anywhere else for guidance!

CARDS: CAPONEQUICKSILVERONE - $3,000.00
Message 15 of 28
knoregs
Established Contributor

Re: Bank Of America Cash Rewards - Denied


@B335is wrote:

@knoregs wrote:

@enharu wrote:
You should check your chexsystem report. Most lenders pull that as well for credit apps. If possible, try to have those derog(s) removed, otherwise it may affect you for other credit apps as well.

Is this correct? Can anybody verify? I can understand for like a credit union membership but has anyone been turned down for a loan/credit card because of a ChexSystem entry?

 

~kn


I haven't heard of any denials on info obtained from ChexSystem besides Credit Unions, but I can definitely see it being a reason if you're seeking credit from said lender.  US Bank is known to also pull ARS/IDA.


Reason I asked is because I have a CO checking account that I'm currently paying on per agreement. They made an entry to chexsystems already and when I asked if they would remove it if I paid in full they said no that they'd only update the info to reflect the paid status. I have apps planned for the near future.`Arrrgh!

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Message 16 of 28
knoregs
Established Contributor

Re: Bank Of America Cash Rewards - Denied


@xgac12x wrote:

Yeah I am going too tomorrow, they are only open 8-5. I called at 5:05 today of course not knowing the hours Smiley Sad 

 

But this is all good news, I am ready to get this card and go to the garden for a while! I have all the cards I want! (Well so far, just need to get approved for the BoA card and I'll be set haha)

 

PS Thanks again guys! Couldnt of done it without the help of the forum! I wouldnt go anywhere else for guidance!


Good luck!

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Message 17 of 28
B335is
Moderator Emeritus

Re: Bank Of America Cash Rewards - Denied


@xgac12x wrote:

Yeah I am going too tomorrow, they are only open 8-5. I called at 5:05 today of course not knowing the hours Smiley Sad 

 

But this is all good news, I am ready to get this card and go to the garden for a while! I have all the cards I want! (Well so far, just need to get approved for the BoA card and I'll be set haha)

 

PS Thanks again guys! Couldnt of done it without the help of the forum! I wouldnt go anywhere else for guidance!


Goodluck and I'm glad it was resolved quickly.  I had to recon both of my BofA cards and got them both, it was fairly quick and painless.  Just be prepared to address anything on your reports and you should be good!

Message 18 of 28
xgac12x
Established Contributor

Re: Bank Of America Cash Rewards - Denied

I just got off the phone with BoA, got approved with a $600 limit

CARDS: CAPONEQUICKSILVERONE - $3,000.00
Message 19 of 28
enharu
Super Contributor

Re: Bank Of America Cash Rewards - Denied


@knoregs wrote:

@B335is wrote:

@knoregs wrote:

@enharu wrote:
You should check your chexsystem report. Most lenders pull that as well for credit apps. If possible, try to have those derog(s) removed, otherwise it may affect you for other credit apps as well.

Is this correct? Can anybody verify? I can understand for like a credit union membership but has anyone been turned down for a loan/credit card because of a ChexSystem entry?

 

~kn


I haven't heard of any denials on info obtained from ChexSystem besides Credit Unions, but I can definitely see it being a reason if you're seeking credit from said lender.  US Bank is known to also pull ARS/IDA.


Reason I asked is because I have a CO checking account that I'm currently paying on per agreement. They made an entry to chexsystems already and when I asked if they would remove it if I paid in full they said no that they'd only update the info to reflect the paid status. I have apps planned for the near future.`Arrrgh!

 

~kn


It's best you pay it off first, then app.

Why risk it? You might be doing yourself a disservice this way. It's always best to make your CR look as good as possible, then app.

Those cards that you are planning to apply for are not going to disappear just because you push your apps back by a few months..........Or you can stop splurging and direct more money towards that CO so it gets paid off faster.

 

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 20 of 28
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