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bank of america secured DENIED AFTER PRE APPROVAL !!!

Member

bank of america secured DENIED AFTER PRE APPROVAL !!!

BANK OF AMERICA your history starts to being of immigrants bank those any bank not mortgage them but for now you are rudest bank in this country 
i dont know why i tried to apply to secured (secured your credit card money is deposited lol) 
in short  credit building now and just now saw an pop up add bank of america prequalify just said hiimm lets try hit it and it is came back with secured offer tried for 1k transfer from checking bump DENIED 
i cant understand why first say prequalify than denial and cost a hardd inqury 
thats really weird 
this is must be illegal really 
DEAR BOFA AND CAPITAL PLEASE SHRINK OR SETUP THE BEST PREDICTION YOUR PREAPPROVAL THOS CONSUMERS ARE NOT YOUR ENEMY DO NOT BULLY THEM FOR NO REASON 
IT IS SECURED CARD YOU ALREADY GET YOUR MONEY RIGHT ?


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Message 1 of 5
4 REPLIES
Community Leader
Valued Contributor

Re: bank of america secured DENIED AFTER PRE APPROVAL !!!

A prequalification isn't a guarantee of approval. At first glance (prequal) your reports may look good but when looked at deeper the second time when you apply there may be something there that the bank doesn't like. It is legal.
Message 2 of 5
Established Member

Re: bank of america secured DENIED AFTER PRE APPROVAL !!!

Happens more often than you think. Hopefully you can find out why you were denied and go from there.

Message 3 of 5
Community Leader
Epic Contributor

Re: bank of america secured DENIED AFTER PRE APPROVAL !!!

The only type of "preapproval" that carries any form of guarantee is if the offer for credit was extended to a consumer based on a listing of consumers obtained from a CRA under the promotional inquiry provision of FCRA 604(c).

 

Unsolicited offers for credit based on a listing of consumers who have been found to meet the criteria specified by the creditor in their request for the list are required under the FCRA to be a "firm offer for credit," which is defined as an offer that must be met if the consumer then applies and is found to continue to meet the criteria specified in obtaining the listing.

 

If their offer included the statement that it is based on a listing of consumers obtained from a CRA, it is considered as a "firm offer for credit."

If not, it carries no requried approval offer.

Message 4 of 5
Highlighted
Valued Contributor

Re: bank of america secured DENIED AFTER PRE APPROVAL !!!

Call and ask why, maybe it was just an identity verification issue.

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Message 5 of 5