topic Re: BOA CLI Denial in Credit Card Applications

BOA CLI Denial

Anonymous — Tue, 23 Jan 2018 01:01:55 GMT

Rather bemused by their 7-10 letter and reasons for the denial.

165K income

FICO ranges between 760s to 800

Util about 12%

2 Cards with balances, PIF everything else

140k available credit

Auto and home loans

NO DEROGS OR LATES - CLEAN THICK FILE

3-5 Inq across all thre CRA

Most of my trade lines are 15 to 30k each.

I have deposit and investment accounts

BOA customer going back early 20 years. I havent used their card in 2 years but with them sending me balane transfer offers I said why not and asked for a CLI. CL is $3500. BOA for no known reason several years ago gave me my one and only ever CLD from 6500 to 3500. They never said why besides account review and market conditions.

Their internal denail 7-10 letter states.

"you have suffcient credit with BOA or our affiliates or sufficient credit with other lenders

"you lack sufficient investment or deposit accounts with BOA or our affiliates"

They pulled TU, my lower score at 763.

I dont bank or invest with BOA or their affiliates. Never have and no plans to.

So, am I correct in reading between the lines that the computer apparently thinks I need to put my money with them for them to extend credit. Are they really this conservative?

Re: BOA CLI Denial

Gmood1 — Tue, 23 Jan 2018 01:38:21 GMT

No they aren't that conservative. lol
You may want to put the card back in rotation. Maybe a small recurring bill.
That should wake them up. Ha ha

Re: BOA CLI Denial

DeeBee78 — Tue, 23 Jan 2018 02:07:37 GMT

You won’t get a CLI without usage, that’s why you’re being told you have sufficient credit.

Re: BOA CLI Denial

Anonymous — Tue, 23 Jan 2018 03:03:30 GMT

Ok then. I guess they could use a more verbose reason. Should I bother reconning them?

Re: BOA CLI Denial

DeeBee78 — Tue, 23 Jan 2018 06:45:05 GMT

@Anonymous wrote:
Ok then. I guess they could use a more verbose reason. Should I bother reconning them?

Without some usage, they’re going to have the upper hand in the recon argument, but nothing ventured, nothing gained.

If you’re not adverse to a new account, you could apply for another card with that same HP, and if approved, reallocate the credit limit to the card with the best BT offers. If this is an option, you might consider their vanilla BankAmericard, since it has a $0 balance transfer fee.

Re: BOA CLI Denial

Anonymous — Tue, 23 Jan 2018 16:22:36 GMT

How long are their hard pulls good for?

Re: BOA CLI Denial

FinStar — Tue, 23 Jan 2018 16:54:24 GMT

30 days.

Re: BOA CLI Denial

JoeLuvsHisCredit — Tue, 23 Jan 2018 18:53:32 GMT

@DeeBee78 wrote:
@Anonymous wrote:
Ok then. I guess they could use a more verbose reason. Should I bother reconning them?
Without some usage, they’re going to have the upper hand in the recon argument, but nothing ventured, nothing gained.

If you’re not adverse to a new account, you could apply for another card with that same HP, and if approved, reallocate the credit limit to the card with the best BT offers. If this is an option, you might consider their vanilla BankAmericard, since it has a $0 balance transfer fee.

+111111111111111111111111111111111111111111111111111111111111 DO IT WE all well most of us use the same hp for muti items with BOA

Re: BOA CLI Denial

Anonymous — Tue, 23 Jan 2018 22:25:07 GMT

I would also recommend doing a recon with them. Im totally with you as far as not doing my investments with them through ML. I do agree with other poster that you should put SOME usage on their card to shake them awake. Good luck and keep us updated as to your CLI with them.

Re: BOA CLI Denial

JR_TX — Wed, 24 Jan 2018 02:02:03 GMT

Use the card right away! Swipe something big. The biggest amount that you were gonna buy anyways. After transaction posts (about 48-72 hrs) call their backdoor number (Senior Analyst) and recon your denial. If still denied then just app for a new card. Almost always they use the same HP. From there, just combine the two cards and close the one you don’t wanna keep. Not sure exactly what their policy on that regard (similar to Amex donor card) but I’m guessing 6 months?

Re: BOA CLI Denial

Anonymous — Sun, 04 Feb 2018 19:35:38 GMT

OK good suggestions. On the app for new card on same HP within 30 days as well will the online app find the HP or do I risk a double pull?

We'll see what happens. I havent had time to recon until this week.

Re: BOA CLI Denial

imaximous — Mon, 05 Feb 2018 13:21:56 GMT

wrote:
OK good suggestions. On the app for new card on same HP within 30 days as well will the online app find the HP or do I risk a double pull?

We'll see what happens. I havent had time to recon until this week.

I applied for a new card a couple of weeks ago, and then requested a CLI on a different card with only $2k limit I got in 2013. They used the same report, but they pulled Experian.

Coincidentally, I requested a CLI to $15k. System gave me the 7-10 day wait, but I called to speak to an analyst. She counteroffered to $7.2k with the same reasons, sufficient credit with BofA and affiliates, etc. etc... Not enough deposit accounts with BofA, etc, etc... Both of which are true. I've only had a monthly recurring charge of $54 for years on that card, which I pay before statement closes so it always shows a 0 balance, and I only have a checking account with little deposits going into it. I accepted the offer, obviously.

Re: BOA CLI Denial

Anonymous — Wed, 21 Feb 2018 04:52:18 GMT

I'm always bemused by the underwriting of these banks and card issuers....BOA declined my CLI, yet Amex just bumped me to 25k from 15k.

Re: BOA CLI Denial

jamie123 — Wed, 21 Feb 2018 07:54:23 GMT

Yeah, BoA seems to be very sensitive to use. I was always getting denied CLI requests so I started using the card regularly and after 3 months of statements I tried again and was approved. I think that they can be generous as long as you use the card.

Re: BOA CLI Denial

jbsilva21 — Wed, 21 Feb 2018 10:00:15 GMT

I used the heck out of my BoA and they closed the account. I asked them why and they never would give me a reason other than we typically review accounts and based on that review we decided to close your account. Nothing ever specific. Never got a letter or anything.

Re: BOA CLI Denial

Anonymous — Wed, 21 Feb 2018 17:57:31 GMT

Its my oldest card and it doesn't really offer me much of anything other than the long blance transfer with zero fee. I may just let it sit there as I'm not going to use a low limit card for daily use.

Re: BOA CLI Denial

Anonymous — Wed, 21 Feb 2018 17:58:27 GMT

Only bank/issuer to ever give me a CLD and with no reason given at all.