BOA Travel Rewards Denial

[Anonymous]

This has happened to me as well - applied for the Travel Rewards in branch, was instantly approved, had the card mailed, and got a call saying that I was approved by mistake. I did get a consolation CLI on my existing BoA credit card so I wasn’t too livid, although my banker had a rather heated discussion with the phone supervisor and tried everything she could, from what I could tell.

The fact is that BoA has a hard limit on undergraduates’ credit card accounts - they will allow you to have one, no more. Graduate students can have two. This includes all co-branded cards as well. It’s a stupid rule if you ask me, but they do enforce it - even with a part time job, if you’re a full time student (12 credit hours or more per semester). Branch bankers often don’t know about this rule - which is why I applied in the first place - and some phone reps don’t know about this either, but I have confirmed this rule with multiple branch managers and through escalated calls. Doesn’t seem like a way to bypass it, unfortunately.

Additional note: I have been a BoA customer for 8 years, and for 4 as a Preferred Rewards client (Platinum). They did not budge and I have moved my credit spend on Chase and Amex since.

[Anonymous]

Also, I’m pretty sure BoA asked you if you are a student. I listed my part-time job on my app the time I got denied, but I recall the app having an additional checkbox for student. So I don’t think BoA will approve you even if you go in saying you’re employed part-time, because you’d have to flat out lie and tell them you’re not a student in addition to that information. Look elsewhere.

[BronzeTrader]

There is really nothing new here.  If you are a college age person, like 18 to 22, BA is very cautious and won't approve easily.  

If you have a part-time job, bring your W-2, two months of pay statement, go to a local branch.  They will reconsider and probably approve you for a new card.

Banks want some proof of income with folks with thin files.

[Anonymous]

Appreciate the input.  It looks for now as though my efforts are better focused on growing my credit elsewhere.  I've always been hesitant to go with Chase, since they seem to be one of the more sensitive banks, and I'm carefully growing my two Amex cards.  Back to the garden for me.

[BronzeTrader]

Most of the banks ask for proof of income of young people.  Quite some people fake their income.  It is nothing new.  Just do not do that and get into credit card troubles.

[Meanmchine]

FYI, all credit bureaus record all your employment history. A casual review of your reports would show that you recently changed your "profession"