Denied Bank of America Secured Card

[lasvegasgirl]

On my FICO report it has that one issue bringing down my score is because I have no revolving account activity.

So I applied for a Bank of America Secured Card and received a denial letter this afternoon.  Any other suggestions on cards I can apply for that are good for rebuilding credit or should I just wait it out a few months and pay down some of my bills.  I have $14,000 left in a car loan and 50K in student loans.  Any advise would be appreciated.

Thanks in advance.

[Creditaddict]

Call the backdoor number and ask for a review and why you are denied.

[SocalMark]

What was the reason for the denial? 

[lasvegasgirl]

I have a couple of collection accounts that are due to fall off later this year and had a recent late payment on my student loan.  I didn't think it would stop me from getting a secured card.

[vish1]

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@lasvegasgirl wrote:

I have a couple of collection accounts that are due to fall off later this year and had a recent late payment on my student loan.  I didn't think it would stop me from getting a secured card.

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I would try to do a recon and if that doesn't work try with a local CU

[Wolf3]

Capital One or Orhcard secured cards are more for rebuilding and seem to be easier to get than BofA. I think BofA is more for new credit building.

[tobey]

I'm not really sure who BofA is targetting with their secured card. When I was new to the credit scene two years ago, they denied me due to a lack of credit history (I thought that's what a secured card was for!). I'm with everyone else, call for a recon. If that doesn't work, try Capital One, Orchard, or even Wells Fargo.

BTW, now that my score is in the mid 700s, BofA constantly sends me card offers. They go straight to the trash.

[lasvegasgirl]

Update:

Well I didn't get anywhere with the Recon for Bank of America.  I did apply for an Orchard Card and was approved for $300.  It's a start.  My TU credit report is due to be pulled on 5/20 so I'll see then if there is any improvement in my credit score. 

[JayRizzo]

Between the two companies, Cap-1 and Orchard, I would have went with Capital One.  I try to advise newbies/rebuilders to apply for their unsecured Classic Platinum card which more likely will put you into their Credit Steps program for a credit limit increase a few short months later, if denied online, they counter-offer with the secured card so it's kinda like a win-win situation.  Orchard (HSBC) is just that... I don't know much about it, so I can't say, but you'll soon know from what others have posted about it.

[sybo40]

I recently applied as well for BoA secured card.  I had a BK from 2004 that was discharged in 2004 and their reason for denial of the SECURED CARD was for the BK.  I, too, thought that was the purpose of the secured card.  VERY disappointed with them and if I received an offer from them for ANYTHING in the future, like another's post, they will be going STRAIGHT to the OTHER file I've reserved...EL TRASH!!  LOL