topic Re: BOA? in Credit Cards

BOA?

Harvey26 — Sat, 23 Jan 2016 07:58:51 GMT

Currently have checking and savings with them and recently start working for them so I recently tried for cash rewards card and was denied. AAoA is about a year with the help of being an AU on some cards and and EX score is around 690. Have only had my first card since July. So should I wait a little longer and try again later. Recently also just started a auto loan as well. so not sure. You guys never lead me wrong so all advice is helpful.

Re: BOA?

bch238 — Sat, 23 Jan 2016 12:18:30 GMT

I have banked with BOA since the massive mergers in the 90s. My sense is that they are a bit conservative; their credit products are sorta "meat and potatoes." They have excellent customer service, and they treat long-term customers well. I suspect but can't know that your AAoA is tad low for them. Let your credit age a bit and get your score above 700 and I bet you get in.

Re: BOA?

Anonymous — Sat, 23 Jan 2016 14:34:28 GMT

I would say it's your AAoA and the product you chose.

If I were you, I'd hold off on that particular card for a while. What is your purpose in getting this card right now, there are other cc's out there that will approve a thin file so you can build the history you need. Just because you work there doesn't mean it's the best fit for you at this time.

Re: BOA?

wmweeza — Sun, 24 Jan 2016 08:07:39 GMT

That's the cardI started out with, BUT I too was declined and then was offerred the secured card with a $99 deposit. That card long ago unsecured and is now at $5400

Re: BOA?

Callandra — Sun, 24 Jan 2016 19:12:29 GMT

@Harvey26 wrote:
Currently have checking and savings with them and recently start working for them so I recently tried for cash rewards card and was denied. AAoA is about a year with the help of being an AU on some cards and and EX score is around 690. Have only had my first card since July. So should I wait a little longer and try again later. Recently also just started a auto loan as well. so not sure. You guys never lead me wrong so all advice is helpful.

I agree with the above posters - BoA is kind of conservative so maybe wait until next July (when your own card is a year old) and try again. When I got approved for BBR, my EX that they pulled was a 775 (was in the letter they sent to me) but only approved me for $2k (albeit at 13.99% APR). So even at a decent EX score, I got a low limit approval (but whatevs, not like I charge that much on it!!). If they counter with the $99/500 secured, take it. Many have had success with getting it unsecured later with decent limits.

If you are banking with them, have you considered BBR instead? It's easy money and there are better cards for gas/grocery.