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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 01:09 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
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