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Bank of America Deinial, I can't believe the reason

Valued Contributor

Bank of America Deinial, I can't believe the reason

"you don not ave a sufficient number of credit references and you do not have sufficient established revolving credit accounts"  that is a laugh, how many do they want? And I have to admit that all but 5 of those are open, and active, with no lates including on the 5 closed accounts, the oldest being 44 months old. 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 32.5k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 12.5k, Paypal Extras MC 8.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 1 of 12
11 REPLIES
Moderator Emerita

Re: Bank of America Deinial, I can't believe the reason

Message 2 of 12
Community Leader
Senior Contributor

Re: Bank of America Deinial, I can't believe the reason


jamesdwi wrote:

"you don not ave a sufficient number of credit references and you do not have sufficient established revolving credit accounts"  that is a laugh, how many do they want? And I have to admit that all but 5 of those are open, and active, with no lates including on the 5 closed accounts, the oldest being 44 months old. 

 


Yes, this does seem to baffle the mind considering the positive information you shared.  Maybe 75-100 accounts is the lucky number?

 

Personally, I have not had any negative experiences with BofA but it may be worth a shot for an analyst/underwriter to look it over if you want the above decision to be reconsidered.  However, to my knowledge, there is a possibility of another HP.

Message 3 of 12
Epic Contributor

Re: Bank of America Deinial, I can't believe the reason

Call backdoor and have a real person look at report and see if they still say the same stupid things... I don't like the reasons for denial letters anyway... they are a requirement, they don't have to make sense!

Message 4 of 12
Blogger

Re: Bank of America Deinial, I can't believe the reason


Creditaddict wrote:

Call backdoor and have a real person look at report and see if they still say the same stupid things... I don't like the reasons for denial letters anyway... they are a requirement, they don't have to make sense!


+1, and +1

 

Message 5 of 12
Valued Contributor

Re: Bank of America Deinial, I can't believe the reason

My brother was denied for this same exact reason. Hes 19 with no credit history other than the AU cards i gave him. When he got the letter it said his EX score was 768. I told him to call and ask for a recon. 10 mins later he was approved for bofa basic with 1k cl. He been banking with them since he was 16 so i dont know if that helps
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 6 of 12
Valued Contributor

Re: Bank of America Deinial, I can't believe the reason

I called, they were nice, talk to one person got escualated to a senior rep, was nice as well, still denied, too much new credit, Oh well, I got what I wanted from Chase  (0 percent interest for 15 months) figured I would try since I took the HP.  

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 32.5k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 12.5k, Paypal Extras MC 8.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 7 of 12
Frequent Contributor

Re: Bank of America Deinial, I can't believe the reason

This is a prime example as to why I don't have any desire to deal with Bank of America. I find their entire system to be backwards on what is logical. 

Message 8 of 12
Frequent Contributor

Re: Bank of America Deinial, I can't believe the reason

BOFA is a weird bank, trust me, I bank with them. But hey, at least they gave me my first card. That's weird though, you shouldnt really have a problem getting approved by them. 

Bank of America: Cash Rewards.- 4.2k. 4/25/12 (CLI Increase 6/15/13, CLI May of 2015, sept 2015), Citi: Forward- 4.5k. 10/27/12 (CLI on 2/8/14, SP, CLI on 9/26/15 sp). Discover: More- 7k, 10/27/12 (Increase 6/1/14, CLI in May of 2015, SP 9/2015) Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 5k (EX CLI HP 9/2015) Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-5k 12/8/13 (CLI on 9/2015) Capital one VentureOne Visa Signature-10k (9/6/15). Citi AAdvantage Platinum Select World MasterCard-4K. Last App: 9/6/15. Total cl: 45,300
Message 9 of 12
Valued Contributor

Re: Bank of America Deinial, I can't believe the reason

 

The BOA Constrictor is hard to predict .     Best to stay away from those if possible.  They are seldom friendly.    

Message 10 of 12