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I don't need no stinkin' Bank Americard anyway...

Frequent Contributor

Re: I don't need no stinkin' Bank Americard anyway...

I actually applied online and got the regular 7-10 days message. I called two days later (called the credit department directly) and was told that I had been denied. The reason was a late payment on my auto loan. 

The woman I spoke to was really nice. She approved me after asking me questions about my job/income. 


Message 11 of 20
Valued Contributor

Re: I don't need no stinkin' Bank Americard anyway...

How come i cant find any info on the 123 rewards at bofa website? I have a student palt plus id like to pc to something with rewards. Thanks
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)
Message 12 of 20
Blogger

Re: I don't need no stinkin' Bank Americard anyway...


jsickz32 wrote:
How come i cant find any info on the 123 rewards at bofa website? I have a student palt plus id like to pc to something with rewards. Thanks

Look for the Americard. I believe it's the same thing.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 13 of 20
Moderator

Re: I don't need no stinkin' Bank Americard anyway...

Think you're hosed based on what's in your signature line.  If they haven't pulled TU already (and I am suspicious that have seen it in some form or fashion already), there's a non-zero chance they will on recon.

 

I'd really reconsider your approach on things: not certain why you'd apply anywhere which is known to pull every bureau in human existance (every major national lender) without putting as much lipstick on as possible.  1/3 bureaus being way out of whack, is just bad math for maximizing approvals.

 

Anyway while I don't share the loathing of BOFA that others have on this forum, there's plenty of other lenders; just go find another if you really need another credit card.

 

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 14 of 20
Established Contributor

Re: I don't need no stinkin' Bank Americard anyway...

While I agree that I'm hosed, they haven't pulled my TU, I'm positive, only my EX. Didn't ask me any questions about my TU, just about two 6yo paid derogs from 2006. Said based on those derogs and that I only have the $300 Cap1 reporting, I don't have enough current credit. My other cards aren't reporting yet as I just received them. (BofA was second in app process so only 3 INQs at time of pull (2 old 1 new)).The crazy thing is today my two collections on my TU fell off, so if they pull that it's fine (just got off the phone with TU a couple hours ago). So if they pulled it it would be almost exactly the same (minus 1 of my perfect installment TLs not reporting on TU only) ...

As far as other lenders, you're right, just a disappointment, but I think 3 out of 6 and $11k in new credit is pretty good when just a week ago I had a 580 FICO Smiley Happy But I think for now I'm out of the apping game. My only goal right now is to start building a good history of never lates to take me into next year when I apply for my first house. And my INQ's are pretty high now... like 6, 5 and 5 .. and I don't want to raise them any higher...
Message 15 of 20
Established Contributor

Re: I don't need no stinkin' Bank Americard anyway...


Revelate wrote:

Think you're hosed based on what's in your signature line.  If they haven't pulled TU already (and I am suspicious that have seen it in some form or fashion already), there's a non-zero chance they will on recon.

 

I'd really reconsider your approach on things: not certain why you'd apply anywhere which is known to pull every bureau in human existance (every major national lender) without putting as much lipstick on as possible.  1/3 bureaus being way out of whack, is just bad math for maximizing approvals.

 

Anyway while I don't share the loathing of BOFA that others have on this forum, there's plenty of other lenders; just go find another if you really need another credit card.

 

 



I stand corrected, I just checked my report and they did pull my TU today during my phone discussion with them about "additional info".... I'm not happy about this as when I asked him what he used to make his decision he said only EX and never mentioned anything about looking at my TU, and this was 3 days after I applied in the first place when they took the original EX.. and never took an EQ.

 

The crappy part is my two collections have now fallen off of my report today and my TU just jumped from 587 to 685 since those two collections fell off....  but now instead of only having 3 INQs on my TU, they wasted one and now I have 4 HP INQs .. ergh ... oh well like the title said, I don't want them anyways Smiley Happy

Message 16 of 20
Frequent Contributor

Re: I don't need no stinkin' Bank Americard anyway...

I got the 7-10 message or was it 30 days cant recall... then a week later I got an automated call saying they needed further info to process my application. I called back and they just asked a question about why my student loans were deferred. Explained I was in school part time still, he put me on hold for a few seconds and said congrats I was approved for the signature card with a 5K limit. A day later I got notification that my TU report was pulled!! I was also shocked as they already pulled EX when I applied, I didn't know they pulled TU when I called. I guess if your app goes into manual review than they pull TU during the call.

Message 17 of 20
New Contributor

Re: I don't need no stinkin' Bank Americard anyway...

Bank of America seems to be much more conservative post CARD Act.

 

They cited both the income clause (banks are required to ensure that you can pay them back) and "economic conditions" when I was recently declined for a CLI.

~~Credit Cards~~
Alliant Platinum Rewards Visa, AmEx BCP, BofA Power Rewards, Bank of the West Platinum, Barclay Rewards World MC, Chase Freedom/Chase Sapphire Preferred, Citi Thank You Preferred/Citi Dividend Select, Discover IT, FNBOmaha, Paypal MC, US Bank Cash+/US Bank Perks+.

Total: $300,000+ in lines.
Message 18 of 20
Established Member

Re: I don't need no stinkin' Bank Americard anyway...

They even decliined my secured card application in March. 

Message 19 of 20
Highlighted
Moderator

Re: I don't need no stinkin' Bank Americard anyway...

Most lenders will pull multiple bureaus in "marginal" approval cases.  If they're requesting information (bank initiated rather than consumer initiated recon?) after a manual review, it doesn't surprise me that they went with their second option.

 

Also, everyone denies secured cards in some cases, even Capital One.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 20 of 20