My EX finally cleared of BK records and I decided to app for BOA platinum plus. Instant denial.
Got their letter today, score was 741. Denial reasons were: Too many new accounts opened recently Limited deposit and/or investment balances with us and/or our affiliates
So....do I recon? Interesting that no relationship is a reason...wonder if I opened a checking/savings account if that would help.
How many new accounts in the last six months? The other reason doesn't matter. Probably need to wait at least 90 days with no new accounts to bring them on board.
In their eyes, and based on your profile, they may consider that too many in such a short period. I suppose you'll know where you stand depending on the outcome of the reconsideration.
BofA is a bank that does factor in your banking relationship to an extent. My personal experience was they wouldn't touch me but when I opened a checking account and moved some money there they changed their tune and gave me a card, my profile hadn't changed much since my previous app so I assumed the banking relationship had helped. BofA can be weird sometimes and they can be conservative so if anything I'd say the too many new accounts reason is probably the one that's weighing against you the most. I'd probably let them age before reapplying and if you want them that bad opening a checking account won't hurt. Best of Luck.
My recon was almost comical....here is how it went....
Asked credit analyst to look at my app and reconsider.
She pulled app and started rattling off all my skeletons. Filed BK, mortgage default, credit card defaults...on and on (all in a very nice tone). Finally She gets to the good parts of my report and mentions an open Cap One loan.
Pause...um, my Cap One loan was closed in June 2017. I asked what agency my report was from because all of those baddies were no where to be found on my EX! She verified it was EX. I asked when the report was from because my copy shows none of that. Then she said...are you calling about your app from April 2017?
Uh no...I knew it was a lost cause at that point...how could she even pretend to ignore all of the terrible things she just read?
Just for fun had her open the real app. In the nicest way possible she proceeded to (pretend I’m sure) to reconsider the app. At decision time she said, you’ve opened a lot of accounts since your BK, we would need to see time between those. I couldn’t even fight it. But I can’t help but wonder if the result might have been different had she not opened the wrong App.
I have 1 old baddy (2 years since report), 710-769 scores. I put 3.5k into BOA checking monthly. Got student loans but they aren't reporting.
What SL can i look at, its funny they wouldnt give me anything but the secured card, now they offer Visa Travel Rewards, and Cash Rewards and regular Boa cc.
