topic Re: BoA CLI Possible with Derogs? in Credit Card Applications

BoA CLI Possible with Derogs?

DeschutesMyVaronis — Wed, 11 Sep 2019 17:52:11 GMT

Anyone have experience with getting CLI from BoA with lates on file? For the past three years, I've been denied every time I've requested a CLI. I even went in branch without any success. About two years ago, I was able to open a new BoA card with similar SL that hasn't grown. Now, I can get twice the denial letters each time I make a request.

Thanks to this forum, I looked into EE with TU/EX to get rid of two COs (all student loan related) on my path to rebuilding credit. Also, some lates aged off naturally last month as well. The next round (7 x 90+ lates) isn't for another year and half. I've since paid off all loans except COs.

Some DPs from my most recent request with "cleaner" file.

#1 I've had BoA checking account for about 9 years

#2 BoA Cash Rewards Visa Plat Plus (oldest card, never late, 7 years 11 months, was converted from student card, SL $800, auto CLI about 4 years ago to $2800)

#3 BoA Cash Rewards Visa Plat Plus (2nd oldest card, never late, 2 years 3 month, SL/CL $2000)

#4 Been approved for various other other cards within last two years

#5 Each month I put couple hundred spend on both BoA cards and PIF

#6 a. Reason for denial: "You have current or past delinquency, derogatory public record(s), or collection accounts appearing on your credit file."

#6 b. This is the 7 x 90+ lates on TU from student loans about 6 years ago.

#6 c. Never late on any CC, only student loans.

#7 TU FICO8 used for denial: 710

I'd be curious to know if anyone has had success getting CLI from BoA with a dirty file? I know the 90 days late will continue to hurt my score until they all age off but it seems other lenders don't care as much. Maybe these cards are bucketed? Should I even bother trying to recon until my file is clean? Thanks in advance!

Re: BoA CLI Possible with Derogs?

CreditInspired — Sat, 17 Aug 2019 17:53:40 GMT

Yes, I think as long as your file is dirty with BOA, they will deny CLIs. My question is, why are you so adamant about having an account with them. Since your credit profile doesn't fit what BOA is looking for, and obviously other lenders are okay with it, if I were you I would move on. Having your eggs in several baskets--diversifying lenders--is a good thing.

Re: BoA CLI Possible with Derogs?

Anonymous — Sat, 17 Aug 2019 18:02:53 GMT

Since BOA changed to SP CLIs 5/2018 it shouldn't be something to be gun shy about at this point. Just ask for the moon and let them counter back and if they deny it, look into the denial reasons as your homework.

Re: BoA CLI Possible with Derogs?

JR_TX — Sat, 17 Aug 2019 18:15:46 GMT

Granting that my PR/BK7 is 8+ yrs old, they continually show me luv with CLI and giving me what I ask for and not even countering. This despite the fact that they were IIB for a ton of money! Maybe our 19 year relationship helps quite a bit? If there’s one definite thing with them is they value relationship.

Re: BoA CLI Possible with Derogs?

Anonymous — Sun, 18 Aug 2019 06:17:58 GMT

BoA Sp from which CRA for CLI? Thank you

Re: BoA CLI Possible with Derogs?

Heatt99 — Sun, 18 Aug 2019 11:39:04 GMT

Same thing happened to me the other day. They won't budge on a $500 card. I only have a paid collection and some lates from 2017 mortgage. BB&T and Navy got my back, even discover is working with me. BOA is greedy, not for the everyday client.
I especially love when they remind me that I bank with them since 2010..lol.smh

Re: BoA CLI Possible with Derogs?

Anonymous — Sun, 18 Aug 2019 13:59:56 GMT

@Anonymous wrote:
BoA Sp from which CRA for CLI? Thank you

Re: BoA CLI Possible with Derogs?

AverageJoesCredit — Sun, 18 Aug 2019 14:04:45 GMT

Holy Boa Fico, Batman, how old ARE you @JR_TX?🤯😆

Re: BoA CLI Possible with Derogs?

JR_TX — Sun, 18 Aug 2019 18:00:22 GMT

@AverageJoesCredit wrote:
Holy Boa Fico, Batman, how old ARE you @JR_TX?🤯😆

Lol did you mean how young I am @AverageJoesCredit ? 😝

Maybe a wee younger than you? 🤪

Lol. Be golden in a few!

On a serious and historical note though, the hardest part of my rebuild with BoA was re-establishing my credit with them for a year after they gave me another shot via their 99/500 card. ‘twas when they approved me for their regular CR card with only a $2K SL a year later that my relationship with them started to become rosy again.

What started as $2K in ‘16 is now $30K which I even feel I’ve left quite a sum on the table but just don’t wanna max out their exposure yet in case I decide to app for another card from them.

It’s been quite a journey with BoA indeed...

Just wanna share my experience with OP and others regarding BoA with dirty file for DP and possibly help them with their own quest and conquest!

Have a relaxing and Happy Sunday y’all!

Re: BoA CLI Possible with Derogs?

Anonymous — Mon, 19 Aug 2019 05:19:01 GMT

@Anonymous wrote:
@Anonymous wrote:
BoA Sp from which CRA for CLI? Thank you
TU

Thank youuu

Re: BoA CLI Possible with Derogs?

DeschutesMyVaronis — Mon, 19 Aug 2019 19:06:35 GMT

@CreditInspired: Thanks for the input. I completely agree about not having your eggs in one baskets hence why I opened Discover/Chase cards. As for why I'm sticking with BoA even though my profile is at odds with what they're looking for? For one they're my oldest cards but more than that, I do get some value out of them after they implemented the ability to change 3% category. Still disadvantages of non-siggy cards like no warranty protection and Cash Rewards FTF that shift my spend over to Chase. Well, at least until I complete Chase trifecta next year to maximize UR points. I have contemplated moving some emergency fund money around to access Preferred Rewards. However, since BoA isn't showing me any love I have deprioritized this.

@Obscure-Expert: Been doing that, definitely lates cited as reason. I'd have a pretty big stack of BoA denial letters if they didn't go into shredder.

@JR_TX: Thanks for DPs! My guess is I just need to give it more time for lates to age off in 2021 before BoA starts showing me some love.

@Heatt99: Haha yeah, "thank you for banking with us for X years". Cool, how about a CLI instead?

BoA did HP on just EX for my last app a little over two years ago. All CLI denials have listed TU.