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Valued Contributor
jamesdwi
Posts: 1,899
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 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
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09Lexie
Posts: 25,961
Registered: ‎09-13-2012
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Re: Bank of America Deinial, I can't believe the reason

Valued Contributor
FinStar
Posts: 6,031
Registered: ‎10-21-2012
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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
Creditaddict
Posts: 20,909
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!

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
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HiLine
Posts: 2,950
Registered: ‎10-19-2012
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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
jsickz32
Posts: 1,987
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
jamesdwi
Posts: 1,899
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 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Zync NPSL, Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Frequent Contributor
CreditWorld2013
Posts: 346
Registered: ‎02-01-2012
0

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
bluesnowman
Posts: 464
Registered: ‎10-29-2012
0

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.-1,000. 4/25/12 (CLI Increase 6/15/13), Citi: Forward- 3k. 10/27/12 (CLI on 2/8/14, SP). Discover: More- 2k. 10/27/12 (Increase 6/1/14). Amex: PRG- NPSL (closed 12/13/13). 11/24/12. Chase: Freedom. 5/1/13- 2.4k. Southwest Rapid Rewards Plus.-3.6k. 6/15/13. Amex BCE-2k. 12/7/13. Amex SPG-4k.12/8/13. Last App: 1/8/14.
Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
0

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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