topic Re: Yeah NOT going to happen BofA! in Credit Card Applications

Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 01:25:04 GMT

I get this mailer from BofA for what one of their best credit cards with 0 intro APR for 21 billing cycles and 12.99 after that. So I thought what the heck I'd apply. My Fico scores right now are 750+ on all three, and I have no derogatories on my credit report, my lowest credit card limit is $2000 and highest is $21,500. I applied online and I get this Congratulations you're approved with a $500 credit limit. I'm like what the?? I called them right away and let them know how rediculous it was and cancelled it. I know I'll get the hard pull and it'll probably affect my AAoA but I'm not accepting a crappy limit like that.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 01:34:21 GMT

Did you attempt a recon? $500 is not much.

Re: Yeah NOT going to happen BofA!

gdale6 — Fri, 15 May 2015 01:38:17 GMT

Ill never understand this kind of thinking. Any approval is a good approval.

Re: Yeah NOT going to happen BofA!

pizza1 — Fri, 15 May 2015 01:52:10 GMT

omg...I would have doing the happy dance if I got that approval! I want in so bad with them, but my current profile can't support an approval for a few years. I would have taken it and LOVED IT!!

Re: Yeah NOT going to happen BofA!

astrangerwcandy — Fri, 15 May 2015 01:52:25 GMT

The low limit will almost assuredly be temporary anyway

Re: Yeah NOT going to happen BofA!

SecretAzure — Fri, 15 May 2015 01:57:21 GMT

@gdale6 wrote:
Ill never understand this kind of thinking. Any approval is a good approval.

Just a guess but when he/she called to cancel and explained the situation I'm sure that the rep, if they had the power to, would have countered with an increased amount. If this was the case, I might do the same. My scores are about same as OP's and if I was given anything with less than a 4K limit at this point it would be a worthless card to me...not even because I spend so much but the inconvenience of working around such a small CL would make it not worth it.

Re: Yeah NOT going to happen BofA!

CreditCuriosity — Fri, 15 May 2015 02:32:09 GMT

I guess I am kinda with the OP .. High limits typically get higher limits and lower limits hold down future approvals higher limits.. Granted I would of tried to recon the ASAP vs. flat out cancelling it..

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 02:34:22 GMT

Getting in with BofA would be a good thing. They will most definitely grow with you. 0% apr for 21 months is awesome along with the 12.9% after. Call & recon tomorrow. Speak with the credit analyst.

Re: Yeah NOT going to happen BofA!

FinStar — Fri, 15 May 2015 02:43:05 GMT

@Anonymous wrote:
Getting in with BofA would be a good thing. They will most definitely grow with you. 0% apr for 21 months is awesome along with the 12.9% after. Call & recon tomorrow. Speak with the credit analyst.

Too late, he's closed it! Everyone has different expectations I suppose. If that were my situation, I would've kept it and see about getting the SL to be flexible with an analyst. Then, over time, just grow it like BOA is well-known to do for their CCs.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 03:05:59 GMT

Yes I attempted a recon and was unsuccessful, only I know my financial/credit situation and I knew this card would be no use to me at its current limit.

Re: Yeah NOT going to happen BofA!

pipeguy — Fri, 15 May 2015 03:06:15 GMT

@Anonymous wrote:
I get this mailer from BofA for what one of their best credit cards with 0 intro APR for 21 billing cycles and 12.99 after that. So I thought what the heck I'd apply. My Fico scores right now are 750+ on all three, and I have no derogatories on my credit report, my lowest credit card limit is $2000 and highest is $21,500. I applied online and I get this Congratulations you're approved with a $500 credit limit. I'm like what the?? I called them right away and let them know how rediculous it was and cancelled it. I know I'll get the hard pull and it'll probably affect my AAoA but I'm not accepting a crappy limit like that.

Good for you !

I would have closed it too - actually I did just close my BoA cash rewards card because of a crappy limit that they refused to increase - life is too short to have to deal with lenders with issues of their own making.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 03:49:44 GMT

Well sure you expected a higher limit. But you should know that there is a possibility that you could be stuck at their lowest limit if approved. You may want to do more research on the kinds of limits you may get if you apply for something. BOA is a little more conservative than other companies.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 04:30:21 GMT

Any approval is a good approval?

I must add a correction. Any prime approval is a good approval.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 05:21:18 GMT

Take it. It will grow. I started with 500.00.

Re: Yeah NOT going to happen BofA!

northface28 — Fri, 15 May 2015 05:27:31 GMT

@gdale6 wrote:
Ill never understand this kind of thinking. Any approval is a good approval.

Tell me about it, the entitlement of some people here is off the charts.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 05:32:05 GMT

B of A is good about handing out huge CLIs (5x or more) after 6-12 months, but they require a second HP. I can see not wanting to deal with waiting so long + taking a second hard pull just to get the limit they probably should have given in the first place...but the low APR might have been worth it, OP.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 05:35:38 GMT

@northface28 wrote:
@gdale6 wrote:
Ill never understand this kind of thinking. Any approval is a good approval.
Tell me about it, the entitlement of some people here is off the charts.

10K or bust.

Re: Yeah NOT going to happen BofA!

zarteycranford — Fri, 15 May 2015 10:23:16 GMT

Same thing happened to me. I had the card for over a year no cli so I shut it down.

Re: Yeah NOT going to happen BofA!

souskei — Fri, 15 May 2015 12:03:41 GMT

I just applied for this card, got denied and recon with a 2k starting limit. I'll take it! Even though I got approved for a sallie Mae a day earlier with a 8k limit haha.

Re: Yeah NOT going to happen BofA!

Anonymous — Fri, 15 May 2015 12:31:24 GMT

@Anonymous wrote:
@northface28 wrote:
@gdale6 wrote:
Ill never understand this kind of thinking. Any approval is a good approval.
Tell me about it, the entitlement of some people here is off the charts.
10K or bust.

I am sure you would be doing the happy dance just to get $500 with them...and it would be a bonus if unsecured.