Update:
I called the BOA number and my unsecured app was declined. I spoke to a BOA banker at a branch and he told me to wait until I get my denial letter and see if I received a counter offer for a secured card. If no offer comes, I can go to a branch and I could apply fo the partially secured (99/500) or for the fully secured card.
Question: If what the BOA banker said is true, that I can apply at a branch for the 99/500 deal, what are the chances I get approved for the 99/500? He said I would have to buy a certified check payable to BOA, he would then overnight that check to the department in charge. If declined, they would send the check back.
I also applied for a WF unsecured card and was declined. I then applied for a secured card with a $300 CL. I am still not sold on the WF secured card though based on their graduation process. I called the 1-800 WF number and had them transfer me to Card Services. They said I can speak to an analyst who actually does the approval of graduating cards on Monday. There probably isn't a magic formula, but there are some basic things they look for I assume, for example, "don't exceed a certain % of your credit limit at any time".
The lady I did speak with from WF customer services Card Services had this to say (this is just her personal experience and knowledge):
-Don't go over $200, but also don't charge a very low amount monthly
-Don't lose your card
-Don't dispute transactions if not necessary
-Don't ask for waivers of fees
-Accounts are reviewed twice automatically every year, Spring and Fall
Basically, they keep tabs on how often you call them and for what reasons. This is taken into account when your account is reviewed. Again, this is just from her own personal experience. She advised to speak with analyst who does the actual approval. I will let you all know what the analyst says.
