BOA Americard decline but question

[Anonymous]

I was declined for the BOA Americard due to high utilization on 2 of my other cards. Completely undertandable, my score is 712 with TU which what they pulled. They actually called me to complete my application because they couldn't get in my EX report since I have it frozen which is why they pulled TU. When he told me I was denied he also told me I'll be receiving a letter in the mail within the next 7 - 10 business days with a counter offer. I asked him if he could tell me anything about the offer and all he said was a yearly fee would be involved and would help to rebuild my credit. I was thinking I don't need to rebuild I have nothing on my report just high utilization which I am working on to pay down. He was being so secretive about the counter offer and didn't want to give me too much detail so I guess I'll have to wait until I get the letter. My questIon is does the 99/500 card have a yearly fee? I don't like cards with yearly fees.

[ddemari]

sounds like the secured offer as it does have an annual fee. that is silly with your score above 700. Maybe try to recon the application? sometimes you get another analyst and they are willing to let you in. This time, be able to explain the high utilization on your other cards and how you are paying them down and want to start a relationship with BOA. Couldnt hurt. 

[Anonymous]

I actually was hoping for the 99/500 counter offer if I got declined. It's another way in so I'll be ok with that yearly fee.

[Anonymous]

BOA declines people with over 700 credit scores all the time.

[Anonymous]

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@Anonymous wrote:

BOA declines people with over 700 credit scores all the time.

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Score is only a piece of the pie.

[ojefferyo]

Any little blemish is something they could deny you for, including high util.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

BOA declines people with over 700 credit scores all the time.

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Score is only a piece of the pie.

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+1

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

BOA declines people with over 700 credit scores all the time.

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Score is only a piece of the pie.

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Most companies build into their scoring algorithms all the significant data they want to evaluate. It may be a piece, but it is a significantly large piece of the pie.

[CountryLivin]

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@Anonymous wrote:

I actually was hoping for the 99/500 counter offer if I got declined. It's another way in so I'll be ok with that yearly fee.

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I applied last year and got denied, but was offered the 99/500 deal. I accepted it, as it was a foot in the door. The yearly fee is $39, but it's fine for me at this time....down the road will try to get a card with no fee.

[Anonymous]

I'm definitely going to accept the counter offer as soon as it comes in the mail. I was worried about the yearly fee but it's not that bad especially as seeing this is a way in with BofA.