Reply
Regular Contributor
CMS2012
Posts: 116
Registered: ‎04-15-2009
0

Bank of America approval!

I thought I would share a bit of good news.  (the least I can do with all of the great info I have found here)

 

So I am new to credit and I currently have 4 TL's

 

Citi Student Card - 0/840 - previous balance $94.00

Macys - 0/350

Capital One - 0/500

Victoria Secret - 0/350

 

I was looking to add another Prime card to my accounts and decided to apply for a B of A Student card last night.  My initial plan was to wait for another 6 months or so to let my AAofA mature (currently 5 months) so that I can be approved for a Discover or Amex card  but for some reason I was feeling lucky.

 

Long story short, I hit the submit button and received that dreaded messagae "we are processing your application, you will be notified in 7-10 days click on this link to check the status...Well needless to say I thought here we go, I just wasted an inquiry for a denial!  I decided to check the status anyway and to my surprise there it was Congradulations!  You have been approved for $700!  in big red text!  I could not believe it! 

 

I opened a checkings and savings account with them in July 08 and at the time they offered me a secured credit card ($99 deposit and a credit line of 500)  I declined it at the time because I already had the Citi card. 

 

I thought I would share this message to all of the newbies like myself.  There is hope for young people trying to establish credit!  If you are student and trying to establish credit for the first time, I would definately recommend the Citi Student Card!

 

 

 

 

 

Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Bank of America approval!

Congrats! That's a nice collection of cards to start with. Citi and BofA should be able to grow with you.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
CMS2012
Posts: 116
Registered: ‎04-15-2009

Re: Bank of America approval!

Thanks!  I have been following all the great advice on this forum!  I had no clue about utilization or statement reporting, so thanks again!  I have recommended this site to all of my friends.  (we are all  young and dumb)  lol!
Regular Contributor
CMS2012
Posts: 116
Registered: ‎04-15-2009
0

Re: Bank of America approval!

Oh, I justed wanted to add that BofA did not do a hard pull on my credit report!  Is that normal?  I expected to see something hit my report by now.

 

I use three credit monitoring services and have not received any alerts.  I also ran my 2 of my credit reports...no inquiries.

 

Thanks!

Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Bank of America approval!

Wow, that's unusual. I app'd by phone, and by the time the phone call was done, the hard inq was showing on EX.

Fingers crossed, but don't be surprised if it eventually turns up.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
CMS2012
Posts: 116
Registered: ‎04-15-2009
0

Re: Bank of America approval!

I was thinking the exact same thing.  I will keep checking...I wonder if it could be because I already have accounts with them.  Do you have any other accounts with BofA?

 

Also, have often do they provide CLI's?

Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Bank of America approval!

I don't have any other accounts with them.

Mine is a regular account, not a student account. They were very free with CLI's, two in a year, and then they halved my CL at month 14. :smileyvery-happy: I really did have a ridiculously high CL with them. I think that for many of us, BofA will be less the fairy godmother of credit limits and be more of a sensible CCC.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
CMS2012
Posts: 116
Registered: ‎04-15-2009
0

Re: Bank of America approval!

Thanks for the info!  Hopefully one day I will have a CC with a limit over 1,000!  lol 

 

Any suggestions on how to get approved for the Discover Student card?  It advertises as a credit building card, but I have not had any luck with them yet.  :smileysad:

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Bank of America approval!

Nice job! You'll be surprised how soon a $1K credit limit will look pretty small to you. You have two prime cards that will grow with you. That's a great start. Just make sure you make your payments on time every time!

 

Best of luck!

Regular Contributor
CMS2012
Posts: 116
Registered: ‎04-15-2009
0

Re: Bank of America approval!

Thanks!  It feels really good especially knowing that I have been doing this on my own!  My mom offered to help me establish credit by adding me to some of her cards, but she also taught me that I would appreciate things in life much better if I work hard instead of having things handed to me, so I decided to go that route.  (but I still always get advice from her!)  My goals are to be debt free and have credit scores in the high 700's so that I can buy my first car without a co-signer. 

 

Ed Hardy Tank Top - $60

Coach Purse  - $450

myFICO Forum - PRICELESS  :smileyhappy:


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+