2nd Denial…Bank of America Customized Cash Rewards

[DaWhole9]

So I wanted a 5% gas card.  I applied for Citi custom cash and was denied.  They said they couldnt verify something on my credit app.  I moved about 6 months ago and figured it was that.  All 3 bureaus had my current address but Nexis Lexis didnt and was locked.  So I unlocked and updated. That was about 2 months ago.   Assumed all was updates and aplied for the B of A Customizes Cash Card the now is 6% for the first year and ....DENIED.  Some data points.  My scores are 830, 826 and 821.  My last credit card was a year ago.  Only credit changes this year was a auto refi.  I have perfect credit with under 1% utilization.  Im baffled.   I have a checking account with B of A.  

[DaWhole9]

Oh.  Something I completely forgot about.  I burned B of A about 10 years ago.  Fell of my credit report 5 years ago.  I wonder if Im still blacklisted in their system.  

[DaWhole9]

So the denial must have been from me burning them.  I just got approved for the Citi Custom Cash Card.  

[BrutalBodyShots]

@DaWhole9 when you are denied credit, you are provided with a letter giving your reason(s) for your denial. I'm not seeing anywhere in your posts where you referenced those reasons? Maybe you haven't received the letter yet? I'm guessing your prior BoA history may be the culprit and if so, I'm sure your letter will indicate that.

Another point I'd make that many people don't understand is that under 1% utilization isn't ideal when it comes to credit card apps. It may be ideal for score optimization, but credit cards aren't approved or denied because of your scores. Issuers look at your whole credit profile, and seeing existing revolving lines that are barely used doesn't make you seem like an attractive customer. Hopefully your under 1% utilization is from organically reported statement balances and you aren't micromanaging them, because if you are you may be doing more harm than good. Now if you're talking a loan app, that's a different story, as score optimization can be beneficial for setting your interest rate and lower balances can mean lower DTI consisered by the lender.

Congrats also on the Citi CC pickup. It's a great card that I'm certain you'll get great value from for gas.

[RobertS2]

Did they give you a reason this time around? 

[DaWhole9]

---

@RobertS2 wrote:

Did they give you a reason this time around? 

---

Waiting for denial letter.  Im pretty confident its because i burned them. While it dropped ooff of my credit reports, they probably have my social flagged.  Funny is they kept lowering and lowering the amount to settle. It got down to around 20% of the total amount.  I agreed but only if they would remove the negative info on the report.  I know that had I paid, it would stay on my report 7 years from the payoff date.  They refused so it was never settled.   I guess they are still salty lol. 

[DaWhole9]

Ok update.  Got the denial letter and I was sure it was going to say something about a previous account or something, but it said something along the lines of we need more information and to call them.  I have since gotten my 5% gas card, the Citi custom cash so I don't actually want the B of A card as it's just a 3% card for one category after the 3% first year bonus, so not sure what I will do.  I may just eat the hard inquiry.  I am planning on getting the BILT 2.0 Blue card as well as the Wells Fargo card for having the OG BILT card, so that's a lot of new cards, no need for one more.  

[portlandmusician]

I'm glad you got the Custom Cash! And, yeah, if you don't need the BoA card, just eat the hard inquiry at this point. Good luck with the new Bilt, too!

[ElvisCaprice]

Congratulations on the Custom Cash.  I would still follow thru with the BofA CCR, at least for the SUB.

---