topic Re: BOA Accelerated Rewards Amex Recon Success! in Credit Cards

BOA Accelerated Rewards Amex Recon Success!

Anonymous — Tue, 11 Oct 2011 14:44:18 GMT

So, I was in the garden, but I still couldn't get over my denial from BofA Accelerated Rewards Amex, so I gave them a call today and they wanted proof of income, went ahead and sent that in and asked if they would be pulling another report and they said no, so I figured no harm in trying. Was put on hold for about 5 Minutes and came back and was approved at 5k, which I was pretty excited about, I had been wanting that card for a while..

Now my only question is wondering if I should cancel my Discover Card that I got about 2 months ago, it still hasn't showed up my report, and the limit is only 1k and from what I've been hearing, they aren't great at CLI's and I really don't want that many cards if they aren't going to grow with me. If it hasn't showed up my report, and I cancel it now, will it still show up later as being had for only two months, or will they just never report it? I wanted Discover, but the way people have had them for years and they haven't budged makes it seem kind of worthless...what do ya'll think?

Thanks for the feedback! :

Re: BOA Accelerated Rewards Amex Recon Success!

jefftca925 — Tue, 11 Oct 2011 15:33:14 GMT

I'd keep the Discover card but use it for the 5% cash back bonuses, otherwise the card is worthless. I've had mine for over 3 years and one CLI. It sees the light of day rarely.

Re: BOA Accelerated Rewards Amex Recon Success!

Anonymous — Tue, 11 Oct 2011 15:40:21 GMT

This puts me at having 8 cards now, and I was only at 7 until BOA came through.....although I only use about 3 or 4 regularly, and just charge minimal amounts on the rest to keep them active, do you think having this many is too many and could have adverse affects for other types of loans? I see some people posting pictures of over 20 cards and they seem to still have a good credit rating, just wanted some opinions on that. But you are right, the 5% Gas is probably the best feature about that Discover Card.

Re: BOA Accelerated Rewards Amex Recon Success!

score_building — Tue, 11 Oct 2011 15:52:26 GMT

Discover is a rather conservative, solid issuer (love the 15% cash back from Groupon.) Steady growth may require a CLI request (HP) once or twice a year.

IMO Discover can grow for the majority of well qualified card holders that meet their somewhat strict criteria for usage and overall credit profile. In any case, it will report either way, so use it for the cash back and PIF.

Eight cards is not necessarily too many IME, so long as one can manage them efficiently (which generally includes at least some minimal cyclical usage on all of them.) An account with good history with a lender like Discover can only benefit a card holder in the long run. Couldn't suggest getting 8 card in a short period of time and if you have lots of new accounts would definitely let them begin to age gracefully if possible before adding more TLs.

Re: BOA Accelerated Rewards Amex Recon Success!

Smug — Tue, 11 Oct 2011 15:51:10 GMT

I just got mine today, had no request for income.

Re: BOA Accelerated Rewards Amex Recon Success!

CS800 — Tue, 11 Oct 2011 17:44:16 GMT

BOA prob pulled EX?

DO you know your FICO as oppose to FAKO?

Re: BOA Accelerated Rewards Amex Recon Success!

tntexans72 — Tue, 11 Oct 2011 18:02:30 GMT

To the original poster...why did they denied you?

I've heard of successful recon but to get denied than recon for a $5K CL....that's pretty amazing.

I guess I am trying to figure how that could be????

In my situation...I have never try to recon so I am trying to get some infor on how one did and did it successfully.

Congrats !!

Re: BOA Accelerated Rewards Amex Recon Success!

CS800 — Tue, 11 Oct 2011 18:19:35 GMT

Thats a pretty tough card to get.

I would not even attempt this for now. But I would like a Basic card with BOA to get my foot in the door.

Re: BOA Accelerated Rewards Amex Recon Success!

Smug — Tue, 11 Oct 2011 18:28:33 GMT

Mine was 720 FICO

Re: BOA Accelerated Rewards Amex Recon Success!

Anonymous — Tue, 11 Oct 2011 18:48:40 GMT

When they first denied me, it was due to "Not enough credit references", as the guy put it. When I first called to do a recon, they said they'd need to first pull another report, and I said it's ok I'll pass, but today when I called again (about a month later), they said they wouldn't need to pull another report but that they'd look over the same report that was dated less than a month ago (which makes sense to me, as they'd probably see the same results anyways)....

Once the guy looked it over, he came back and said he doesn't know why the system denied me for that specific reason (too few credit references) because I have had cards ranging from 5 years by myself, and AU dating to 1995, so I was already thinking it was a weird reason to deny. He then said what he was more interested in seeing was proof of income, so I faxed him my last two pay-stubs and he came back and approved for 5k, said I'll have the card in 5-7 Days.

I was hoping for a larger limit, but I'm not going to be greedy, and I'm thankful that I was able to get on with them. Just thought it was weird how the system denied me for such a weird reason when I do have other cards out there.

Re: BOA Accelerated Rewards Amex Recon Success!

Anonymous — Tue, 11 Oct 2011 19:04:31 GMT

Grats on the successful recon! Haven't been able to have any luck with the backdoor numbers so far, but I'm going to keep trying.

Funny enough, I'm trying to get in with Discover and you're thinking about leaving

Re: BOA Accelerated Rewards Amex Recon Success!

Jazzzy — Tue, 11 Oct 2011 19:46:36 GMT

@tntexans72 wrote:
To the original poster...why did they denied you?
I've heard of successful recon but to get denied than recon for a $5K CL....that's pretty amazing.
I guess I am trying to figure how that could be????
In my situation...I have never try to recon so I am trying to get some infor on how one did and did it successfully.
Congrats !!

I have only ever tried one recon. It was a success. In the past I never would have considered doing it, but I got strength and confidence from this forum.

In my case, I was denied online by Discover. I waited until I got their written denial letter so that I knew their reasoning. Only then did I know which report they pulled and could check as to what was on it. I knew there were 2 things on my report that they likely could have questioned. We had an income property, and the mortgage is on my credit report. All we had on our own house was a HELOC (no mortgage)...but it was a big HELOC. When I called for recon, she said...."but your report shows you have 2 mortgages on your home." Once I explained that these loans were on two different properties, she put me on hold and came back and approved me. In the end she asked, "Don't you want to know your credit limit?" I said sure...and it was approved for $13,140.

So...successful recon does happen, but I think it's wise to make sure you have their written reasons before you go back at them. I think you can make the most progress if you can give them some insight that they can't get from just looking at the written report.

And to the OP....I'd keep the Discover. We usually only use it for their very limited 5% categories, but it's worth keeping.

Re: BOA Accelerated Rewards Amex Recon Success!

Anonymous — Tue, 11 Oct 2011 21:38:40 GMT

Well thanks for the responses, I suppose I will keep Discover and cross my fingers they decide to give a CLI in the future.

I'm excited for the BOA card, I didn't realize it was a harder card to get than any of their others, and my scores aren't really close to perfect, so that makes me feel good.