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Established Contributor
Posts: 786
Registered: ‎09-15-2008
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Re: I was just declined for a B of A secured credit card

No, it def is not disregarded with Fico (AU). MY balance on my AMEX (AU) went up the other day and my Fico score went down.

Starting Score: 454
Current Score: 690
Goal Score: 750


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Established Member
Posts: 34
Registered: ‎06-29-2008
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Re: I was just declined for a B of A secured credit card

The scores that I had pulled in August were from myFICO.com. I've been working on my credit since the beginning of the year and I've seen good improvements so I thought I was at a point where I can apply for a credit card and be approved. I thought to myself if I can get a mortgage in May, heck, why not a secured credit card. I know for sure that the credit cards where I'm an AU are taken into consideration because my report states that my utilization ratio is great (under 5% and the credit available on those two cards are $35000). I have no other credit cards but these so they must have taken these into consideration. I called Bank of America and they told me to wait 6 months and to apply again. My student loans kicked in on my credit report 6 months ago, my car loan kicked in about 8 months ago and my mortgage barely in May so they told me to have 6 months of more activity and when that time comes, I shouldn't have a hard time getting credit with Bank of America. I'm looking at the bright side of things here. I don't NEED the credit, I just wanted the credit to rebuild my file. I'm 23 years old, have a house, have a car, make $90K a year, but I wanted to "fix" the stuff I did when I was a freshman in college. Another way to look at it is with the economy the way that it is, credit may decrease, but at least I have what I need and don't live beyond my means. Hopefully by the time things get settled in this country, the baddies will be removed and I'll have a fresh new plate to work with. Thanks for everyone who responded. Let's hope that in 6 months, I'll be doing the happy dance like some of you have been!
Maria

myFICO Scores:
01/22/08 - Ex 651, Eq 569, TU ???
05/14/08 - Ex 637, Eq 615, TU 636
08/07/08 - Ex 651, Eq 620, TU 630

Chase ID Protection Scores (they use FAKO):
9/25/08 - Ex 499, Eq 480, TU 508
Established Member
Posts: 34
Registered: ‎06-29-2008
0

Re: I was just declined for a B of A secured credit card

Good news and bad news. 
 
Bad news first.  Bank of America sent me a letter saying that the reason the declined me was because I had a past delinquency with them, which I did a few years ago which I barely paid off with the collections agency last year. 
 
Good news.  I applied for a credit card with Wamu the day after I was declined from B of A and they approved me with a $1000 unsecured credit limit.  I just hope they don't take it back with the merger with JP Morgan Chase. 
 
:-)
Maria

myFICO Scores:
01/22/08 - Ex 651, Eq 569, TU ???
05/14/08 - Ex 637, Eq 615, TU 636
08/07/08 - Ex 651, Eq 620, TU 630

Chase ID Protection Scores (they use FAKO):
9/25/08 - Ex 499, Eq 480, TU 508

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