topic Re: Bank of America IIB approval chances? in Bankruptcy

Bank of America IIB approval chances?

sccredit — Mon, 01 May 2023 21:45:28 GMT

Credit Sesame showed me good approval odds so I checked preapproval on BofA's site and it shows preapproved for the Unlimited Cash Rewards card. Normally I'd jump at it BUT I burned BofA on a business card for $13k. Filed 11/2017, discharged 3/2018. Anyone know how BofA is with IIB approvals? The first 2 years after discharge I couldn't even get any kind of preapproval from them.

Any insignt is appreciated.

ETA: I am looking to replace two cards, the Comenity MC and the Savor One. Any ideas or reccomendations are appreciated. My list of burned creditors is quite long: AMEX (Biz Platinum), BofA (Biz), Chase, Citi, Barclays (Hawaiian Biz card), Discover, PenFed, NFCU, Logix, Cap One (Personal and Biz), DCU, US Bank (Biz PG Auto), Toyota (Biz PG Auto), Ford (Biz PG Auto)

Re: Bank of America IIB approval chances?

CH-7-Mission-Accomplished — Mon, 01 May 2023 18:50:23 GMT

@sccredit wrote:
Credit Sesame showed me good approval odds so I checked preapproval on BofA's site and it shows preapproved for the Unlimited Cash Rewards card. Normally I'd jump at it BUT I burned BofA on a business card for $13k. Filed 11/2017, discharged 3/2018. Anyone know how BofA is with IIB approvals? The first 2 years after discharge I couldn't even get any kind of preapproval from them.

Any insignt is appreciated

I got back in 2 years post-discharge by opening a secured card. I think it was for $500 (maybe $1K). It graduated in six months. I asked for a CLI and they upped the limit to $5K, the same amount I burned them for in the BK7 two years prior.

About 2 years later, I wanted the Alaska Airlines card, which had a large sign-up bonus. I went back and forth with them, but they refused to give me that card so I offered to close the existing (useless) card if they would give me the Alaska card (along with the bonus). They had to take it to someone higher up for approval and they came back with a "yes."

For years they refused all requests for a CLI, but at some point -- maybe 7 years post-filing -- they finally budged. Today the card limit limit is $15K. I have asked for a CLI a few more times, but they always decline it for insufficient use, which is fair since I probably put $100/month on the card.

A lot of people seem to lump BofA in the same boat as Chase, but that has not been my experience.

Re: Bank of America IIB approval chances?

sccredit — Mon, 01 May 2023 21:18:46 GMT

Thank you, I appreciate your feedback.

Re: Bank of America IIB approval chances?

Lawns1 — Mon, 01 May 2023 22:09:27 GMT

I didn't include BOA in my Chapter 13 but I have a checking and savings account with over 20k in them combined now. I applied for a credit card and was denied, applied for a secured and was also denied...super strange. Applied for Capital One and PenFed and approved for a standard card.

Re: Bank of America IIB approval chances?

sihmud — Tue, 02 May 2023 00:19:35 GMT

@sccredit

I wouldn't put much faith in their pre approval. They show a card for everyone.

Re: Bank of America IIB approval chances?

sccredit — Tue, 02 May 2023 00:41:11 GMT

Good to know, thank you

Re: Bank of America IIB approval chances?

Horseshoez — Sat, 13 May 2023 18:22:34 GMT

@Lawns1 wrote:
I didn't include BOA in my Chapter 13 but I have a checking and savings account with over 20k in them combined now. I applied for a credit card and was denied, applied for a secured and was also denied...super strange. Applied for Capital One and PenFed and approved for a standard card.

^THIS! I had to look at your signature to make sure your post wasn't mine.

Like you, I had checking and savings with BofA, I didn't burn them in my Chapter 13, and yet they denied me for a secured card. TDBank, CapOne, and PenFed came to my rescue.

Re: Bank of America IIB approval chances?

Jeffster1 — Sun, 14 May 2023 02:38:59 GMT

BoA has a really long memory but YMMV. My own experience has been excellent.

I had a BoA card (no banking relationship, though) from 2004-2015, but closed it. Between 2015-2017, I had no relationship with BoA.

i opened checking and savings with BoA in 2017 before my BK just in case WF (who I IIB) closed my accounts. I filed BK 4/17 with a DC in early 1/21.

I was approved for a BoA CCR Secured in early 3/21...two months after discharge...which then graduated like 7 months later.

While I did not IIB BoA, I was happy that they approved me for the CCR Secured, and was even happier when I received such a quick graduation.

Re: Bank of America IIB approval chances?

Lawns1 — Sun, 14 May 2023 02:15:34 GMT

I'm with ya. I get the standard credit card...I see it as I am thankful for whatever I get until this is off my record but the secured card puzzled me a little and I wasn't offering to put $200 on it either....much much more.

Re: Bank of America IIB approval chances?

Horseshoez — Sun, 14 May 2023 04:32:19 GMT

@Lawns1 wrote:
I'm with ya. I get the standard credit card...I see it as I am thankful for whatever I get until this is off my record but the secured card puzzled me a little and I wasn't offering to put $200 on it either....much much more.

After my Chapter 13 discharge, BofA (not burned) refused to approve me for a secured card for any amount, TDBank across the street instantlyh approved me for a $5,000 secured card (which graduated in six months).