topic BOA denial...offered secured card in Credit Card Applications

BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:03:33 GMT

Ok so....I searched a few BOA threads and didn't find an answer so here goes......
I applied for a credit card from BOA and it was denied but they offered me a secured card. 99/500. I read threads here that say it's good and goes unsecured after a year. I'm on the fence because I have 2 cap one cards, NFCU, 2 Chase cards but I wanted to get in with BOA.My question is...Since I'm not necessarily in the rebuilding stages anymore is it necessary to have a relationship with them (secured card or bank account) in order to be considered for an unsecured card down the road or is it possible to get in after I clean up my reports a little more? I appreciate any and all replies!!

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:04:57 GMT

I guess what I'm actually asking is if anyone has gotten in with them outright without any type of relationship with them?

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:13:16 GMT

Not sure about the relationship thing. I've been banking with them over 15 yrs. But did get a secured card quite a while back to start with. Then it will convert over to regular card. Am now at 25k limit. So it does work. If they said all you needed was a secured card, I would go for it. I have also app'd for a couple of banks around here that I do not bank with. Still waiting on approval since it's all manual.

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:18:27 GMT

Thanks for your reply. If you banked with them for 15 years and still had to start with a secured card....I guess I have to suck it up and take it to get in with them.

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:50:35 GMT

@Anonymous wrote:
Ok so....I searched a few BOA threads and didn't find an answer so here goes......
I applied for a credit card from BOA and it was denied but they offered me a secured card. 99/500. I read threads here that say it's good and goes unsecured after a year. I'm on the fence because I have 2 cap one cards, NFCU, 2 Chase cards but I wanted to get in with BOA.My question is...Since I'm not necessarily in the rebuilding stages anymore is it necessary to have a relationship with them (secured card or bank account) in order to be considered for an unsecured card down the road or is it possible to get in after I clean up my reports a little more? I appreciate any and all replies!!

I actually just cancelled my BofA secured card due to me being sick of BofA and their silly excuses. Never used the card since I have over $30k in unsecured credit, plus they wouldnt approve me for a Travel Rewards card due to, get this "having too many BofA accounts". This excuse alone cost BofA and Merrill close to $200k. I would question whether you really need them since you have great cards already.

Best of luck

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:58:42 GMT

No relationship needed to get unsecured cc with BOA. I was approved for a Bass Pro Mastercard with $1500 cl.

My EX score was 635 at the time with 17 inq and 15 new accounts. Five months after approval I was bumped up

to $5000 with a hp on TU. Six months later I requested another hp cli to $20000 and they countered with $10100.

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 19:59:44 GMT

Hubby if FLBiker77! We've been with them like he said foever. They seem to have changed thier ways lately. I was at the point of telling him we need to switch to Chase but gave them another chance. Did you call and ask why they wouldn't approve you for a TR's card? They don't freak when you do a BT. One thing I like about them! Sorry to hear. I didn't think they would react that way.

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 20:13:28 GMT

Thanks for the feedback. I'm going to think it over. I still have time.

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 20:32:23 GMT

What's there to think over? You already took a HP. Have something to show for it or you might be kicking yourself 6-12 months from now. Just saying.

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 20:42:59 GMT

You're right! I already filled out the app so I just have to write the check when I get home. :-)

Re: BOA denial...offered secured card

Anonymous — Thu, 09 Jun 2016 23:12:06 GMT

Take it. You already took the HP. And if you treat them well, they will generally reciprocate with generous CLIs. Folks have been unsecured in less than 1 year assuming no baddies..

I applied september 2015 for amtrak and was denied. I had to reapply with my SO as a joint applicant just to get approved. A few months later the CL went from 2.1k to 15k and is no longer joint. No prior relationship with BOA except for my SO cash rewards account.

But it all boils down to what you really need. I think even the secured verison gets the $100 bonus?

Re: BOA denial...offered secured card

CatOfSpades — Fri, 10 Jun 2016 03:47:51 GMT

The secured version doesn't get a bonus. And it has an annual fee.

I would personally never take a secured card when I could get plenty of other unsecured cards and get them with way better limits. They offer it like they're doing you a favor, but if you like them, to each their own. It's nice looking card.

For what it's worth, I've had several hard pulls in the past with nothing to show for them. Hard pulls fall off.

Re: BOA denial...offered secured card

RonM21 — Sat, 11 Jun 2016 13:48:57 GMT

@Anonymous wrote:
I guess what I'm actually asking is if anyone has gotten in with them outright without any type of relationship with them?

I got my Cash Rewards card in 2013 and never associated with them prior to that. No issues at all...instant approval.

Re: BOA denial...offered secured card

Anonymous — Sat, 11 Jun 2016 18:41:31 GMT

@Anonymous wrote:
Ok so....I searched a few BOA threads and didn't find an answer so here goes......
I applied for a credit card from BOA and it was denied but they offered me a secured card. 99/500. I read threads here that say it's good and goes unsecured after a year. I'm on the fence because I have 2 cap one cards, NFCU, 2 Chase cards but I wanted to get in with BOA.My question is...Since I'm not necessarily in the rebuilding stages anymore is it necessary to have a relationship with them (secured card or bank account) in order to be considered for an unsecured card down the road or is it possible to get in after I clean up my reports a little more? I appreciate any and all replies!!

I too banked with them for years. But then they left the area and transferred me to another Bank. So I did not think I had an account at all.

They offered me the 99/500 as well. I now wonder if they did that cause I said I did not have a log on account with them (technically closed)

I took my time and thought it over .. and I took it cause I took the hit for the HP. I just got my card today.

I went to register my card on line.. and that is when it tells me I cant make a new log on ..cause I already had one.

Here it was my old account. So I am wondering now if because my email/cell phone # did not match my app is why they offered me a secured card... In hind site I probably should of called before for reconsideration etc Anyway I had to call them to talk about this crazy little balance still showing on my old checking account from 3 years ago. I see .. the chat person finally saw it but they did not.

So I called got a very nice customer service person from Texas. Awesome guy. I have to call on Monday to figure out why my old checking account shows a balance. Prior to talking to him .. on the chat she told me to request a graduation after the 6 month mark.

If I were you... I would call them and see if they would reconsider without a HP of course.... I have this feeling that their algorythyms etc are off in their computer. If they say no or if you want to take the secured card - know that you can possibly graduate in 6 months.

All in All .. call them up and have a chat. They seem awfully wonderfully nice and quite funny also...

Im glad I did... cause when you earn the rewards you can deposit them into one of their checking or savings account and earn another 10% on top of the rewards. IE if you earn $100 in rewards and deposit that into a checking and savings .. they give you an extra $10. I thought that was a bit interesting and cool. Plus now you get 2% for groceries that includes Grocery Club shopping now!

So although I wanted to say take this card and put it where the sun don't shine.... I went with it... Im out $99 until it graduates. Why I only got offered the 99/500 might have to do with the information not being totally correct when I apped.. cause it was automatic and not reviewed by a person. Because I recently started rebuilding so I only have one old account is another... who knows what stips they are looking for... but because I apped and because worried that I would want to app again.... I'll be the Turtle that wins the race! Cross your fingers for my 6 month request.

Re: BOA denial...offered secured card

Anonymous — Sat, 11 Jun 2016 21:39:57 GMT

Fingers crossed you graduate early and get a great increase!

Re: BOA denial...offered secured card

Anonymous — Sun, 12 Jun 2016 00:21:46 GMT

BOA approved me when I first started rebuilding, my scores were sub 600 and honestly I was shocked when I got the approval. That was about 5 months ago, and my limit was 1000. I have not gotten a CLI yet, but again it was not that long ago. Really did not expect that approval at all, just took a shot, it was not instant, I got that review notification and kind of assumed I would be declined, When the card showed up I was very surprised.

So love BOA for giving me a chance!

Re: BOA denial...offered secured card

drboxing — Sun, 12 Jun 2016 00:21:47 GMT

Yes def go for this card. I've had it for almost a year

Re: BOA denial...offered secured card

Anonymous — Sun, 12 Jun 2016 03:43:21 GMT

I decided to go for it! The check is in the mail! :-)

Re: BOA denial...offered secured card

Anonymous — Sun, 12 Jun 2016 03:43:43 GMT

Thank you all for your input!

Re: BOA denial...offered secured card

drboxing — Sun, 12 Jun 2016 04:23:25 GMT

You'll be glad u did.