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Valued Contributor
Posts: 2,360
Registered: ‎09-16-2011
0

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 & CSP 10k & Freedom 6.6k & Amtrak/Freeom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5.5k Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 7k, Discover IT 15.5k and a nice stack of store cards.
Last APP/HP 9/5/2016
Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012

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

Senior Contributor
Posts: 11,485
Registered: ‎10-21-2012
0

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.

Epic Contributor
Posts: 28,812
Registered: ‎10-23-2007
0

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!

Blogger
Posts: 3,367
Registered: ‎10-19-2012
0

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

 

Valued Contributor
Posts: 1,988
Registered: ‎06-25-2012
0

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)
Valued Contributor
Posts: 2,360
Registered: ‎09-16-2011
0

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 & CSP 10k & Freedom 6.6k & Amtrak/Freeom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5.5k Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 7k, Discover IT 15.5k and a nice stack of store cards.
Last APP/HP 9/5/2016
Frequent Contributor
Posts: 346
Registered: ‎02-01-2012

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. 

Frequent Contributor
Posts: 476
Registered: ‎10-29-2012

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
Valued Contributor
Posts: 1,346
Registered: ‎04-15-2011

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.    

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