topic Re: BOA instant denial and letter? in Credit Card Applications

BOA instant denial and letter?

Larrypatty — Wed, 19 Oct 2022 23:32:16 GMT

Got a instant denial after the pre approval thing of course for the cash rewards visa signature. Relieved a letter stating they need SSA-89 form and income verification to process my application? Is this common?

736. No derogatory s. 1.7 years AAOA and 3 years oldest account. 15 inquires with 3 in past 12 months.

Re: BOA instant denial and letter?

Anonymous — Thu, 20 Oct 2022 02:26:03 GMT

@Larrypatty wrote:
Got a instant denial after the pre approval thing of course for the cash rewards visa signature. Relieved a letter stating they need SSA-89 form and income verification to process my application? Is this common?

736. No derogatory s. 1.7 years AAOA and 3 years oldest account. 15 inquires with 3 in past 12 months.

You have similar but better DPs as mine so doesn't bode well for my future app for TR, I wanna use Museum on Us

Re: BOA instant denial and letter?

mrcrisp023 — Thu, 20 Oct 2022 12:48:55 GMT

Same exact thing happened to me last week. Instant denial, got the letter for verification a few days later. I sent it in earlier this week. We will see what happens. I did this app during an app spree where I was approved for 4 cards but denied for a couple as well. My income is likely the only thing k keeping them from outright denying me (250k).

Re: BOA instant denial and letter?

MarkintheHV — Fri, 21 Oct 2022 01:11:53 GMT

Bank of America is strange regarding the proof of identity. I have 5 accounts with them (2 credit cards, checking, savings and brokerage) and they still drag me into the branch to verify my identity sometimes. Kind of frustrating.

Re: BOA instant denial and letter?

mrcrisp023 — Sat, 22 Oct 2022 01:10:24 GMT

Did you end up sending the info in?

Re: BOA instant denial and letter?

phoenix12 — Sat, 22 Oct 2022 22:48:07 GMT

I got denied for a BoA card about a year ago for a similar issue. However, the pre qualification tool for them should be taken with a grain of salt as it's more of a marketing tool than actual pre approval. I would not take a pre qualify from them as seriously as I would other lenders.

Re: BOA instant denial and letter?

OmarGB9 — Sun, 23 Oct 2022 01:18:40 GMT

@phoenix12 wrote:
I got denied for a BoA card about a year ago for a similar issue. However, the pre qualification tool for them should be taken with a grain of salt as it's more of a marketing tool than actual pre approval. I would not take a pre qualify from them as seriously as I would other lenders.

Indeed, it's 100% marketing.

Re: BOA instant denial and letter?

Janneman — Wed, 26 Oct 2022 04:07:39 GMT

@Larrypatty wrote:
Got a instant denial after the pre approval thing of course for the cash rewards visa signature. Relieved a letter stating they need SSA-89 form and income verification to process my application? Is this common?

736. No derogatory s. 1.7 years AAOA and 3 years oldest account. 15 inquires with 3 in past 12 months.

A few months ago exactly same thing happened to me...instant denial despite of having saving a/c, checking account, Merrill Edge account with substantial fund...and a personal credit card for 3 years and a business card as well....they instantly denied me but surprisingly sent a letter to request tons of documents POI related than a denial letter...And even though I sent out those documents, yet still they denied my application by citing only one reason- Current Economic trend of the country/Recession. Yes, they did cite exactly like this and only this reasoning. Same reasoning to 2 of my friends.... So, I would say that this is not the right time to ask any kind of credit from BOA ...

Re: BOA instant denial and letter?

mrcrisp023 — Wed, 26 Oct 2022 04:56:26 GMT

I'm still awaiting my results.

Re: BOA instant denial and letter?

Anonymous — Wed, 26 Oct 2022 06:17:59 GMT

@Janneman wrote:
@Larrypatty wrote:
Got a instant denial after the pre approval thing of course for the cash rewards visa signature. Relieved a letter stating they need SSA-89 form and income verification to process my application? Is this common?

736. No derogatory s. 1.7 years AAOA and 3 years oldest account. 15 inquires with 3 in past 12 months.

A few months ago exactly same thing happened to me...instant denial despite of having saving a/c, checking account, Merrill Edge account with substantial fund...and a personal credit card for 3 years and a business card as well....they instantly denied me but surprisingly sent a letter to request tons of documents POI related than a denial letter...And even though I sent out those documents, yet still they denied my application by citing only one reason- Current Economic trend of the country/Recession. Yes, they did cite exactly like this and only this reasoning. Same reasoning to 2 of my friends.... So, I would say that this is not the right time to ask any kind of credit from BOA ...

Jesus. Thx for this, I was tempted by TR and Spirit but I guess not gonna app any time soon..

Re: BOA instant denial and letter?

mrcrisp023 — Sat, 29 Oct 2022 10:27:22 GMT

Checked my accounts in the app this morning and saw a new credit card account in my list so it looks like I was aprproved. However, the SL is only $500. Shocked and happy I was approved honestly but $500 almost makes it not worth it. Curious to see how this card can grow.

Re: BOA instant denial and letter?

Anonymous — Sat, 29 Oct 2022 14:32:17 GMT

@mrcrisp023 wrote:
Checked my accounts in the app this morning and saw a new credit card account in my list so it looks like I was aprproved. However, the SL is only $500. Shocked and happy I was approved honestly but $500 almost makes it not worth it. Curious to see how this card can grow.

It will grow, from datas here one of the fastest along with Amex and Disco. Better than my bucketed Chase Freeedom Flex. Congrats!

Re: BOA instant denial and letter?

Janneman — Sat, 29 Oct 2022 15:40:10 GMT

@mrcrisp023 wrote:
Checked my accounts in the app this morning and saw a new credit card account in my list so it looks like I was aprproved. However, the SL is only $500. Shocked and happy I was approved honestly but $500 almost makes it not worth it. Curious to see how this card can grow.

cant speak for anyone but in my opinion this much limit is not worth because it would take many years it to grow to a respectable amount and that would also be based on its being your daily use card ...meaning charging this limit every week or two week...Secondly, Im afraid this card with this much limit will prevent you from getting higher limit because most lenders issue SL based on what you have...and since this is your latest card then I believe this card will do more damage than any benefit...Just my opinion...

Re: BOA instant denial and letter?

pi-r-squared — Sun, 30 Oct 2022 15:52:22 GMT

I got the same letter. Decided against sending in the info. Don't really need any more credit right now. Maybe as I continue paying down CC debt, I could get approved for another 0% balance transfer in 15 months OR maybe Discover will send me a special offer so I can transfer back whatever I haven't paid off!

Re: BOA instant denial and letter?

markhs777 — Sun, 30 Oct 2022 22:05:04 GMT

Several months ago I applied for the BOA card with the 21 0% months BT offer. Instant denial, okay now time for Citi app... approval with same offer.

What's upset me is I too received the SSA-89 letter. I would have complied had I known I was not completely denied and maybe saved an inquiry and get a decent limit as I have a high Fico and relatively good income with high CL's on most all cards .

I called and was told "denial letter" was the letter I received " I was under the impression that when denied the reasons for denial with bureau pulled along with score are required. The CSR and supervisor told me not accurate. What ever.

Re: BOA instant denial and letter?

Larrypatty — Mon, 31 Oct 2022 17:17:26 GMT

I got approved for the Citi double cash for $9,100 and decided to try for BOA. Also Did MoveCU - Interior Credit Union. They are taking forever. Not sure what they're doing. In 6 months I'll be at 4/24. May just forget BOA and try for USBank and Chase in 6 months.