topic Re: BofA Declined in Credit Cards

BofA Declined

UpNComing — Wed, 18 Jun 2008 15:51:20 GMT

Too many new accounts. I called and talked to a CA, he says although I have no baddies the new cards I have (replaced rebuilders recently) kill my chances.

Is it worth writing a letter or calling again? I hate to waist the inq.

Re: BofA Declined

Anonymous — Wed, 18 Jun 2008 15:59:10 GMT

Sorry to hear that, UpNComing.

As to whether you should continue to pursue it, I suppose it depends on how bad you want the card at this moment. If you really want the card now, I suppose the worst that can happen with another phone recon is that you suffer another hard inq with the possibility of denial still looming. If you can, I'd say wait 6 months and give it another try. Let us know what you decide. Good luck!

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 16:34:26 GMT

lurknomore wrote:
Sorry to hear that, UpNComing.

As to whether you should continue to pursue it, I suppose it depends on how bad you want the card at this moment. If you really want the card now, I suppose the worst that can happen with another phone recon is that you suffer another hard inq with the possibility of denial still looming. If you can, I'd say wait 6 months and give it another try. Let us know what you decide. Good luck!

Its not so much a need for the card. More for the fact that I wanted to complete my portfolio at the same time and let it all age together. Adding another hard inq defeats the purpose. The CA already hit me for two last night. If thats the case I'll just wait a year, then add the last three I want, Chase, BofA and Ameriprise.

Re: BofA Declined

fishbjc — Wed, 18 Jun 2008 19:17:04 GMT

I'd wait six months. Which bureau did they pull?

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 19:39:09 GMT

fishbjc wrote:
I'd wait six months. Which bureau did they pull?

I'll wait until at least 6 months. They pulled EX and TU.

Re: BofA Declined

Red1Blue — Wed, 18 Jun 2008 20:46:31 GMT

What do they mean by too many new accounts? How many do you have? I have opned 23 new accounts in the last 12 months and I am still able to find places who would give me credit if I want. By the way, I am not apping any more and also I closed 12 out of the 23 accounts that I have opened.

Re: BofA Declined

Anonymous — Wed, 18 Jun 2008 20:50:54 GMT

i would call back. even if they did pull again on ex or tu the depulication mechanism would negate a score impact.

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 21:07:06 GMT

concorduser wrote:
What do they mean by too many new accounts? How many do you have? I have opned 23 new accounts in the last 12 months and I am still able to find places who would give me credit if I want. By the way, I am not apping any more and also I closed 12 out of the 23 accounts that I have opened.

I replaced two Orchards and two First Premier with WaMu, AmEx and Citi within the last two months. And opened CapOne a year ago. My oldest CC was Orchard and still have two year old Applied and Merrick along with a three year old paid Honda card for 6K. I also have a 24 month auto lease that I'm 14 months into and a two month old motorcycle financed through AHFC.

You know, now that I think about it I have some good paid under my belt. No lates. High income. Would I really get another hard inq if I ask them to take a second look?

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 21:08:01 GMT

imducky wrote:
i would call back. even if they did pull again on ex or tu the depulication mechanism would negate a score impact.

ducky I'm more worried about the impact with AmEx than my score.

Re: BofA Declined

Anonymous — Wed, 18 Jun 2008 21:29:49 GMT

UpNComing wrote:

imducky wrote:
i would call back. even if they did pull again on ex or tu the depulication mechanism would negate a score impact.

ducky I'm more worried about the impact with AmEx than my score.

understandable, but if amex is looking then 1 less inquiry isn't likely to change thier mind. besides, boa has been way more generous to me than amex.

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 21:55:52 GMT

The CA said they like to see more "history". I looked over my report and here is what I have, opinions?

American Honda/Gemb XXXXXXXXXXXX 7/2005 $0 Paid or paying as agreed
Washmtl/Prov XXXXXXXXXX 4/2008 $3,917 Paid or paying as agreed
Citi Cards Cbsdna XXXXXXXXXXXX 4/2008 $1,480 Paid or paying as agreed
Applied Bank XXXXXXXXXXXX 2/2006 $729 Paid or paying as agreed
American Express XXXXXXXXXXXXXXXX 5/2008 $670 Paid or paying as agreed
Merrick Bank XXXXXXXXXXXX 7/2006 $426 Paid or paying as agreed
Capital One Bank Usa Na XXXXXXXXXXXX 9/2007 $228 Paid or paying as agreed
First Premier Bank XXXXXXXXXXXX 9/2004 $0 Paid or paying as agreed
First Premier Bank XXXXXXXXXXXX 1/2007 $0 Paid or paying as agreed
Hsbc Bank XXXXXXXXXXXX 4/2005 $0 Paid or paying as agreed
Hsbc Bank XXXXXXXXXXXX 3/2006 $0 Paid or paying as agreed
Aurora Loan Services XXXXXXXXX 1/2008 $315,832 Paid or paying as agreed
Ford Motor Credit XXXX 4/2007 $2,925 Paid or paying as agreed
Ford Motor Credit XXXX 4/2007 $0 Paid or paying as agreed
American Honda Finance C XXXXX 4/2008 $6,341 Paid or paying as agreed

That looks like history to me! Up until the last few months I had an average history of 2.6.

Edited personal info. Thanks ducky!

Message Edited by UpNComing on 06-18-2008 05:46 PM

Message Edited by UpNComing on 06-18-2008 05:55 PM

Re: BofA Declined

Anonymous — Wed, 18 Jun 2008 21:42:25 GMT

you may want to edit out the last few account numbers!!!!

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 21:45:18 GMT

imducky wrote:

UpNComing wrote:

imducky wrote:
i would call back. even if they did pull again on ex or tu the depulication mechanism would negate a score impact.

ducky I'm more worried about the impact with AmEx than my score.

understandable, but if amex is looking then 1 less inquiry isn't likely to change thier mind. besides, boa has been way more generous to me than amex.

Hence one of the major reasons I want them in my wallet. I've heard nothing but good things.

Re: BofA Declined

Anonymous — Wed, 18 Jun 2008 21:49:31 GMT

in that case i'd call again for sure. maybe wait till the morning and get a rep that's fresh.

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 21:54:35 GMT

imducky wrote:
in that case i'd call again for sure. maybe wait till the morning and get a rep that's fresh.

I really dont think I'm wrong on the history. I'm in the credit bus and I could work with that.

Re: BofA Declined

Anonymous — Wed, 18 Jun 2008 21:58:02 GMT

UpNComing wrote:

imducky wrote:
in that case i'd call again for sure. maybe wait till the morning and get a rep that's fresh.

I really dont think I'm wrong on the history. I'm in the credit bus and I could work with that.

so much is open to the particular analyst (which is why recons actually even work), and the one you spoke with could be having a really bad day and nothing you could say would help.

i'd really be inclined to take the plunge.

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 22:16:31 GMT

Thats a great way to look at it.

Re: BofA Declined

smallfry — Wed, 18 Jun 2008 22:19:59 GMT

Average age of accounts is very low. You might have a fair amount but it is very recent.

Re: BofA Declined

unknown_entity — Wed, 18 Jun 2008 22:22:57 GMT

UpNComing wrote:

Too many new accounts. I called and talked to a CA, he says although I have no baddies the new cards I have (replaced rebuilders recently) kill my chances.

Is it worth writing a letter or calling again? I hate to waist the inq.

Keep calling, you'll eventually get someone to approve you. I got approved after 3 recon denials the same day at B of A.

Re: BofA Declined

UpNComing — Wed, 18 Jun 2008 22:27:20 GMT

unknown_entity wrote:

UpNComing wrote:

Too many new accounts. I called and talked to a CA, he says although I have no baddies the new cards I have (replaced rebuilders recently) kill my chances.

Is it worth writing a letter or calling again? I hate to waist the inq.

Keep calling, you'll eventually get someone to approve you. I got approved after 3 recon denials the same day at B of A.

Did they hard pull each time?