topic Re: Bank of America Denial Turned Approval Data Share in Credit Card Applications

Bank of America Denial Turned Approval Data Share

csryang — Fri, 06 Jan 2017 06:05:07 GMT

My initial two applications on different products were pending and later approved back in December. Only 1 Experian inquiry.

I applied for a third different product this month and it was rejected instantly. They did not pull any additional inquiry - likely due to their new policy of only one pull per 30day?

However, I heard that business card application might end up with another pull in another credit bureau.

I called in for reconsidartion for my third application. Credit analyst did not seem to want to turn that denial into approval. Later I was told that she would have to send this application into further review/manager review and see how it goes. She verified again with me my income and liquid asset. She then told me that she would call me back in 1-2 days to inform me of the result. I then checked Boa application status and that particular application is "in review."

Does anyone care to share any data points on denied applications?

1) How likely is it for an instantly rejected application to get turned into an approval?

2) What's the typical outcome of manual/secondary/manager review?

Re: Bank of America Denial Turned Approval Data Share

csryang — Mon, 09 Jan 2017 07:48:40 GMT

@csryang wrote:
My initial two applications on different products were pending and later approved back in December. Only 1 Experian inquiry.

I applied for a third different product this month and it was rejected instantly. They did not pull any additional inquiry - likely due to their new policy of only one pull per 30day?
However, I heard that business card application might end up with another pull in another credit bureau.

I called in for reconsidartion for my third application. Credit analyst did not seem to want to turn that denial into approval. Later I was told that she would have to send this application into further review/manager review and see how it goes. She verified again with me my income and liquid asset. She then told me that she would call me back in 1-2 days to inform me of the result. I then checked Boa application status and that particular application is "in review."

Does anyone care to share any data points on denied applications?
1) How likely is it for an instantly rejected application to get turned into an approval? Answering myself here - It seems that 3 new card within a month with BOA is possible! Instantly rejected application turned into an approval depending on the situaiton. A blogger had apped spree 5 personal cards. 3 instantly approved. 1 pending later approved. 1 denied, citing enough credit extended and previously approved 3 cards within 1 month. It seems that app spree is the best idea and recon the same day might yield better outcome.
2) What's the typical outcome of manual/secondary/manager review? Answering myself here - It seems that it varies. 3 cards in a month might be possible but more than that with a manuel review will be hard.

I would like update by saying that I did eventually get approved after moving some credit from another card.

I am very impressed with BOA so far. I have never had any BOA cards and just recently applied for two cards, pending initially for both but approved after calling recon line.

Now just applied for BOA's third card within a month. Intially denied instantly but I was able to reason through recon! Recon person decided to send me to secondary review and said that she needed their approval so see if I could still open this third line by moving credit from the other card. Status page changed to pending and then 1-2 days later changed to approved!!

Re: Bank of America Denial Turned Approval Data Share

Anonymous — Fri, 13 Jan 2017 09:31:02 GMT

Congrats on your approval & successful recons!!! Which BoA products did you get?

Re: Bank of America Denial Turned Approval Data Share

Anonymous — Fri, 13 Jan 2017 13:36:22 GMT

Interesting. They denied me instantly when i applied for the cash rewards business card this week. Figured no point in recon since the honest explanation of 16 new personal cards in 18 months is just that i am new to rewards cards and wanted to try various systems to see what fit best overall.

Wanted to pick up a Merril-Lynch for the bonus but if they instantly rejected the business app that doesn't bode well for a personal card eh?

Re: Bank of America Denial Turned Approval Data Share

csryang — Tue, 17 Jan 2017 04:51:40 GMT

@beautifulblaquepearl wrote:
Congrats on your approval & successful recons!!! Which BoA products did you get?

I was approved for Merrill+, Alaska and denied but later approved for Amtrak

Re: Bank of America Denial Turned Approval Data Share

csryang — Tue, 17 Jan 2017 04:56:59 GMT

@Anonymous wrote:
Interesting. They denied me instantly when i applied for the cash rewards business card this week. Figured no point in recon since the honest explanation of 16 new personal cards in 18 months is just that i am new to rewards cards and wanted to try various systems to see what fit best overall.

Wanted to pick up a Merril-Lynch for the bonus but if they instantly rejected the business app that doesn't bode well for a personal card eh?

I think you could still recon and see what they say. Are you over their credit exposure?

I dont think 16 new cards in 18 months is that bad... I am almost the same. I think they may worry more about you over their credit exposure.

I was approved for Boa cards because I have never had their cards. Last denial but turned approval due to them willing to shift credit around.

You could definitely try for Merrill+ and see how that goes. If your exposure with Boa is too high, maybe try lowering your existing Boa CLs first and then apping for it.

Re: Bank of America Denial Turned Approval Data Share

Anonymous — Tue, 17 Jan 2017 05:51:54 GMT

@csryang wrote:
@Anonymous wrote:
Interesting. They denied me instantly when i applied for the cash rewards business card this week. Figured no point in recon since the honest explanation of 16 new personal cards in 18 months is just that i am new to rewards cards and wanted to try various systems to see what fit best overall.

Wanted to pick up a Merril-Lynch for the bonus but if they instantly rejected the business app that doesn't bode well for a personal card eh?
I think you could still recon and see what they say. Are you over their credit exposure?
I dont think 16 new cards in 18 months is that bad... I am almost the same. I think they may worry more about you over their credit exposure.

I was approved for Boa cards because I have never had their cards. Last denial but turned approval due to them willing to shift credit around.

You could definitely try for Merrill+ and see how that goes. If your exposure with Boa is too high, maybe try lowering your existing Boa CLs first and then apping for it.

I have never had any BofA anything at all, zero exposure, no banking history, nada zippo zilch.

The denial reason they sent me was just 'too many new accounts'.

Re: Bank of America Denial Turned Approval Data Share

csryang — Tue, 17 Jan 2017 07:26:16 GMT

@Anonymous wrote:
@csryang wrote:
@Anonymous wrote:
Interesting. They denied me instantly when i applied for the cash rewards business card this week. Figured no point in recon since the honest explanation of 16 new personal cards in 18 months is just that i am new to rewards cards and wanted to try various systems to see what fit best overall.

Wanted to pick up a Merril-Lynch for the bonus but if they instantly rejected the business app that doesn't bode well for a personal card eh?
I think you could still recon and see what they say. Are you over their credit exposure?
I dont think 16 new cards in 18 months is that bad... I am almost the same. I think they may worry more about you over their credit exposure.

I was approved for Boa cards because I have never had their cards. Last denial but turned approval due to them willing to shift credit around.

You could definitely try for Merrill+ and see how that goes. If your exposure with Boa is too high, maybe try lowering your existing Boa CLs first and then apping for it.

I have never had any BofA anything at all, zero exposure, no banking history, nada zippo zilch.

The denial reason they sent me was just 'too many new accounts'.

I see... Sorry to hear that... How many new accounts you have reporting for the past 6 months?

When I applied for Boa the first round, I had about 2 new accounts for the past 6 months. It went pending but approved on Recon.

When I submitted my last Boa app couple weeks later, it was instantly denied --- probably 3 new accounts (Barclays reporting then) plus 2 new from Boa that they can see from their end so total of 5 new accounts from their end I assume

Re: Bank of America Denial Turned Approval Data Share

Anonymous — Tue, 17 Jan 2017 13:06:15 GMT

In the last 6 months I think just 2. Barclays arrival+ was at the end of July and NFCU was the first week in August.