BOA Co applicant

[Anonymous]

Well...... I went online an appd for the new Amtrak Card with $79 fee and 20k bonus points.  This is something I really need because I travel a ton with amtrak. I was denied. Called recon, sent to underwriting, they said my length of time with accounts was too short and to apply with a coapplicant.

Did that over the phone as theres no other way to do that besides in branch.  Got a 30 day decision, and thats great because that is better than a instant denial!

So I made myself the primary applicant, as the rep said it makes no difference.

Hoping that the 2 inquiries today will merge into one.  I am thinking if BOA wouldnt approve me for this that its highly unlikely they would approve me for a Better Balance Rewards.  So.... If they do tell me today in a few hours when I call in to check, that I am approved, should I app for BBR or not?

The woman on the phone who did the app said to call back after 2 hours to get an instant decision, or wait up to 30 days by mail.

Thoughts?

[Skye12329]

Considering a CO applicant was needed for this app. I would hold off and garden for a bit.

[Anonymous]

Just got approved. Now the interesting part here is the limit is only $2100. And now they are rattling off this same chase bank jargon that a world mastercard has a 5k minimum limit which is not true. I am fine with the limit, although slightly disappointed. But I am upset she ran it through the regular no annual fee version that only has 12k bonus points, and only earns 2k points instead of 3 on amtrak travel.

What are my options here? I specifically stated multiple times I was applying for the World Mastercard with 20k bonus and $79 annual fee. Why did they think it would be ok for them to just lower the card quality without first asking me? Maybe I dont want that one?

This is starting to turn into a cluster

EDIT: 

false alarm. the rep said i was right. its not the case anymore with world mastercard  or elite needing specific limits. And I did get the 79$ annual fee version with the 20k bonus after 1k spend.

Went ahead and apped for 1 better balance rewards. It says its under review with a reference number.  Only reason I think I should call in now to push things along is so the inquiries have a better chance of being merged.  So should I call in now then? Bc if it does get approved in a few days or a week by the system, then that HP could post later, right?

[FinStar]

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@Anonymous wrote:

Just got approved. Now the interesting part here is the limit is only $2100. And now they are rattling off this same chase bank jargon that a world mastercard has a 5k minimum limit which is not true. I am fine with the limit, although slightly disappointed. But I am upset she ran it through the regular no annual fee version that only has 12k bonus points, and only earns 2k points instead of 3 on amtrak travel.

What are my options here? I specifically stated multiple times I was applying for the World Mastercard with 20k bonus and $79 annual fee. Why did they think it would be ok for them to just lower the card quality without first asking me? Maybe I dont want that one?

This is starting to turn into a cluster

EDIT: 

false alarm. the rep said i was right. its not the case anymore with world mastercard  or elite needing specific limits. And I did get the 79$ annual fee version with the 20k bonus after 1k spend.

Went ahead and apped for 1 better balance rewards. It says its under review with a reference number.  Only reason I think I should call in now to push things along is so the inquiries have a better chance of being merged.  So should I call in now then? Bc if it does get approved in a few days or a week by the system, then that HP could post later, right?

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The HP would have already hit (then app goes into review) unless they used the same one from the Amtrak CC application.  You could always talk to an UW/Analyst to check the status of the application.  Now, given that you were approved for $2,100 SL not sure how much more BOA would be willing to lend in your case.  YEMV.

[Anonymous]

Would it be better to wait several days and let it process on its own then? I am afraid if it gets denied, then if I tried to recon they would do another HP.

So you are saying I could probably be fine, let it process as normal, and they can just recon using the previous HP?

I am totally fine with the amtraks limit. I just hate that Ill have to probably use HPs later if I need increases?

Is there a chance I could recon the limit later this month on the AGR?

[FinStar]

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@Anonymous wrote:

Would it be better to wait several days and let it process on its own then? I am afraid if it gets denied, then if I tried to recon they would do another HP.

So you are saying I could probably be fine, let it process as normal, and they can just recon using the previous HP?

I am totally fine with the amtraks limit. I just hate that Ill have to probably use HPs later if I need increases?

Is there a chance I could recon the limit later this month on the AGR?

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AFAIK, if denied it's not going to be another HP but you can always check with the analyst.  They simply reactivate the application to perform another review to determine if it can be overturned (of forward to a senior UW team).  You have 30 days.  Unlike Chase, you don't have to wait unless you want to.

HPs are part of life, and BOA would be no exception.  It's the risk you take for having their product.  As with anything, no risks, no rewards.  Once an account is established, and depending on your history with them, they can auto-CLI or send a pre-approved offer to (SP) CLI from time to time. 

You have the option to have the SL reconsidered with the Amtrak card but it may cost you another HP.  Best to explore your options and discuss with an analyst.  Then, you can decide what would work for you in the long term.

[Anonymous]

Ok. Well the BOA BBR was a no go for me. But with the amount of rail travel I will be doing this fall and spring, the AGR card will come in handy. And ... its not like tickets cost thousands..so I will just use and pay and repeat.  They actually took time to talk to me about my credit. I did recon the Amtrak limit and it was not approved.

Analyst was very very polite. Reminded me of Discovers kindness. She said everything I did was right as I got the card that I needed, and learned the few things I need to do to expand with my new relationship. She said in 6 months and 12 months I could get automatic credit limit increases.

Reasons for denial were lack of credit references (meaning not enough time.... no complaints about excessive inquiries)

Now, my mind is thinking that since I did a joint application to get this approved, the coapplicant should apply for a BBR and see if they get approved. That way if they end up with a HP they could end up with an account of their own. Scores 780-800, 10% util, most cards have 10k limits, and only has 6 inquiries (3 on TU and 3 on EQ).

I am thinkin we should go for it, and if its not instant then let it go. It could be bad if I ended up with 3 HPs and they got 2 HPs. lol. All for one card.

So final closing thoughts here. What are the odds my joint applicant (i am the primary) gets a hard inquiry? Could that one be used to get a card in their name? Is there even a remote chance the inquiries could be merged?

[Anonymous]

Well just my luck. I recon'd again for the BOA BBR and got the same senior analyst. Just my luck. Lol. Oh well same thing happened with chase. I will try a few more times later this week, if not, no huge loss.