topic Re: BOA Student Visa in Credit Card Applications

BOA Student Visa - Approved

Anonymous — Mon, 20 Dec 2021 22:32:39 GMT

Hello,

My child applied for the BoA Student Visa Card but the card was not approved.

She received the letter from the BoA. They need to verify SSN or ID number and income.

Key factors:

- Lack of recent revolving account infomation

- Lack of recent installment loan infomation

- Length of time accounts have been established

She is a full-time student in her first year of university and works part-time in the library. She receives a direct deposit. Can she send her bank statement instead of her pay-stub or Tax retrun? If she complies, is there any chances of card approval?

EX score 770, Discover (07/21 opened), Amazon visa (AU), Amex (AU), PNC (AU), income 6K

Util: 0 to 1%, Inqs: 1/6, 1/24, New Accts: 1/6, 1/24

Thanks in advance

Update: Declined

Reasons: Unable to verify identification

Upate: Approved

She called the backdoor recon number and was approved for $500

No need to explain. The UW found there was an error and re-run it

Re: BOA Student Visa

FinStar — Wed, 17 Nov 2021 03:33:13 GMT

@Anonymous wrote:
Hello,
My child applied for the BoA Student Visa Card but the card was not approved.
She received the letter from the BoA. They need to verify SSN or ID number and income.

Key factors:
- Lack of recent revolving account infomation
- Lack of recent installment loan infomation
- Length of time accounts have been established

She is a full-time student in her first year of university and works part-time in the library. She receives a direct deposit. Can she send her bank statement instead of her pay-stub or Tax retrun? If she complies, is there any chances of card approval?

EX score 770, Discover (07/21 opened), Amazon visa (AU), Amex (AU), PNC (AU), income 6K
Util: 0 to 1%, Inqs: 1/6, 1/24, New Accts: 1/6, 1/24

Thanks in advance

She would need to produce a paystub (or any of the required documents they asked for) to verify income. IIRC, theyre unlikely to accept bank statements. Has she reached out to them to determine what are the acceptable documents for income verification?

Re: BOA Student Visa

Anonymous — Wed, 17 Nov 2021 05:05:56 GMT

@FinStar wrote:
@Anonymous wrote:
Hello,
My child applied for the BoA Student Visa Card but the card was not approved.
She received the letter from the BoA. They need to verify SSN or ID number and income.

Key factors:
- Lack of recent revolving account infomation
- Lack of recent installment loan infomation
- Length of time accounts have been established

She is a full-time student in her first year of university and works part-time in the library. She receives a direct deposit. Can she send her bank statement instead of her pay-stub or Tax retrun? If she complies, is there any chances of card approval?

EX score 770, Discover (07/21 opened), Amazon visa (AU), Amex (AU), PNC (AU), income 6K
Util: 0 to 1%, Inqs: 1/6, 1/24, New Accts: 1/6, 1/24

Thanks in advance

She would need to produce a paystub (or any of the required documents they asked for) to verify income. IIRC, theyre unlikely to accept bank statements. Has she reached out to them to determine what are the acceptable documents for income verification?

She hasn't called yet. I will tell her to call them. Thanks

Re: BOA Student Visa

Anonymous — Thu, 18 Nov 2021 20:26:36 GMT

She called they accept bank statements. Thanks

Re: BOA Student Visa

FinStar — Thu, 18 Nov 2021 22:04:15 GMT

@Anonymous wrote:
She called they accept bank statements. Thanks

Glad to hear. Hopefully this should suffice to process her application. They must've changed their POI policy because in the past they were a bit more rigid with the types of docs they would accept.

Keep us updated on her application @Anonymous

Re: BOA Student Visa

Anonymous — Wed, 15 Dec 2021 19:33:31 GMT

@FinStar wrote:
@Anonymous wrote:
She called they accept bank statements. Thanks
Glad to hear. Hopefully this should suffice to process her application. They must've changed their POI policy because in the past they were a bit more rigid with the types of docs they would accept.

Keep us updated on her application @Anonymous

Update: Declined

Reasons: Unable to verify identification

Re: BOA Student Visa

Ilinferno — Wed, 15 Dec 2021 20:30:03 GMT

That's a bummer! Did she also verify SSN/ID# or she just gave them the bank statements?

Re: BOA Student Visa

Anonymous — Wed, 15 Dec 2021 20:52:18 GMT

@Ilinferno wrote:
That's a bummer! Did she also verify SSN/ID# or she just gave them the bank statements?

mailed SSA-89 form and bank statements

Re: BOA Student Visa

Ilinferno — Wed, 15 Dec 2021 21:30:12 GMT

Oh wow that's weird, wonder if its just a generic disapproval reason from their list then. Sorry to hear about the denial. Maybe a different lender has a good student card or they could go the secured route to build up some history.

Re: BOA Student Visa

Anonymous — Fri, 17 Dec 2021 15:32:53 GMT

@Ilinferno wrote:
Oh wow that's weird, wonder if its just a generic disapproval reason from their list then. Sorry to hear about the denial. Maybe a different lender has a good student card or they could go the secured route to build up some history.

Thanks

Re: BOA Student Visa - Approved

Anonymous — Mon, 20 Dec 2021 22:33:47 GMT

Upate: Approved

She called the backdoor recon number and was approved for $500

No need to explain. The UW found there was an error and re-run it