@DesertLife wrote:I wanted to write a post about my Bank of America Reconsideration line experience in case there are others who will be going through the same thing.
First, I Called 866-458-8805 which is supposed to go directly to a credit analyst per a blog post. I called this number and the automated voice says:
"Next available credit analyst will be with you shortly"
Well, the person who came on the phone said their name and that they would bring up my request and "I'll be the analyst assisting you with that request".
They said, "I do have your application request. Are you calling in to check on the status of your application?"
I said that I had already checked the status online, and that I was calling in because I believe that I had received a denial for credit.
He said, "Let me check on the status......Yes, it appears the reason for being declined was delinquency was reported on credit bureau. It shows a retail credit delinquency from 2007".
I explained the circumstances of the delinquency, that it was after all a long time ago, that my finances have changed, and that since then I have had no delinquencies and have managed my credit appropriately.
He said, "Thank you for explaining that, Sir. I'm going to bring on one of my colleagues to see if we can do something about that."
Then, another person came on the phone and said they were a credit analyst and they would be looking at my request. I thought, wait, wasn't I already talking to a credit analyst? Well, no the first one was a customer service representative, or a screener, before you get to the analyst. That first person had no decision making authority. It would appear that the banks are aware of people calling directly in to speak with analysts and don't want to waste their time if an approval is not likely, so they try to minimize the requests by screening people out with their first line of defense.
He said "You weren't initially approved. During this phone call we will collect income information earned from employment salary bonus salary etc. We collect this information for repayment purposes".
He asked security questions, including with what bank my mortgage was through (theirs!). I told him that I already have my mortgage with them, and am wanting to build my relationship with their bank.
Then he proceeded to look at the application. He inquired about the delinquency from 2007 and I explained it again. He looked at my current utilization and asked about the fact that I have low / no balances. He said do you pay off each month? I said that I like to pay off in full each month and that often I pay before the bill is due so that I don't have high balances reporting.
He put me on hold again.
He said, "OK I have some follow up questions". He Asked about a home equity line of credit on my credit report". I explained that I have a second mortgage, not a home equity line of credit and that the payments are all on time (apparently it wasn't reporting properly in the credit report).
Put me on hold again.
He came back and said "Sir, congratulations! We are able to approve you for a $5,000 limit with our Alaska Airlines Visa Signature card. You will receive the bonus points that come with that card, and a companion coupon. You will also receive that companion coupon annually."
He asked about the additional cardholder I had wished to add on the application, and said that card would be issued as well.
I said thank you, and our conversation was over.
Winning!
I hope this will help someone in their BofA recon experience.
BofA Recon; BoA recon; Bank of America Reconsideration
Congrats!
Is post like these that helps people. I was I new about Myfico three months ago because I never knew about recon and backdoor numbers.
$5k
$4.5k
$2.8k
$8k
$500
Nice going, Congrats!
Starting Score: EQ 717 EX 724 TU 736
