08-12-2013 07:02 AM
Ok so as I told you all I thought I got declined, but I called the reconsideration number today and she told me because I am under the age of 21, I have to fill out the physical application and provide my signature. Something tells me this means I will likely be approved because why else would they go through this? Also is this normal? I've never had any other company do this to me.
08-12-2013 07:19 AM - edited 08-12-2013 07:20 AM
careful its not another hard pull if it is i'd just call this a lost.... because i never heard of a person having to be 21+ to have a credit card ...but then again you are dealing with BofA known for going to infinity and beyond for the simplest thing.
08-12-2013 09:46 AM
08-12-2013 11:58 AM
I got my alaska airlines card when I was still 20, didn't get required to fill out a paper app, thats weird. Bank of America is just stupid. Their customer service reps and EO reps are awful, unfriend;y, and quite frankly, very uneducated. They do things like its the 1800s, ie- taking 2 months to do a visa signature upgrade, or 6 weeks to "proccess" a card DESIGN CHANGE, not a new card, just a new design. They take weeks and months to do things that chase, amex, and other lenders can do in a matter of minutes. That being said, Bank of america has some of the nicest credit anlayists I have ever talked to. Those are the only people in BOA that really know what their doing and are very helpful.
08-12-2013 01:06 PM
When I applied for BofA Better Balance Rewards card.. I did not have to fill out a paper application. I am only 20 years old too.
08-12-2013 01:09 PM
08-12-2013 04:26 PM
So I actually went in and spoke to a banker at BofA today. She said she had never heard of such a thing. So she called the credit center herself and they told her the same thing. She said they said it was a federal law passed in 2009 before they give a STUDENT under the age of 21 credit. The banker feels that I have a really good chance of getting it since they want to go through the trouble of sending me the application and having me fill it out.
08-12-2013 04:59 PM
08-12-2013 05:27 PM
They are referring to the Card Act of 2009.
Ensures Adequate Safeguards for Young People
• Requires issuers extending credit to young consumers under the age of 21 to obtain an application that contains: the signature of a parent, guardian, or other individual 21 years or older who will take responsibility for the debt; or proof that the applicant has an independent means of repaying any credit extended;
• Limits prescreened offers of credit to young consumers;
• Prohibits increases in the credit limit on accounts where a parent, legal guardian, spouse or
other individual is jointly liable unless the individual who is jointly liable approves the increase;
• Increases protections for students against aggressive credit card marketing, and increases
transparency of affinity arrangements between credit card companies and universities.
Lexie hit the nail on the head
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.