BOA solid offer = FAIL

[Benzman]

Been with BOA for years, checking as well as CC. First time EVER I had an offer in my account show up today for a new card. Had APR solid rate of 16.99, 0% for 15 mos, 0% transfer fee for first 60 days. Figured WTH and go for it as last time I applied/approved for a BOA card was back in 2014 and supposedly their offers are solid.

Nope, declined. Will receive letter of reasons by mail. Has to be either the 18 inquiries on EXP (only 2 in the past six months) or the 4 new CC accounts with other banks within the past 3 months. Thoughts?

Funny thing is they never turn me down on CLI requests.

[arkane]

Yep unfortunately you fell prey to BoA's newly instated 2/3/4 rule: https://www.doctorofcredit.com/httpswww-doctorofcredit-combank-america-312-rule-credit-card-approval...

Edit: Missed the bit about "4 new CC accounts with other banks". Hmmm not sure then.

[Anonymous]

Do a recon with them; they’re really good. You have the scores and shouldn’t be denied. I called the backdoor # and said what do you mean I’m denied? My scores are good, no baddies, low uti, and a decent income. She said yeah you’re right. Bam $6000. Try it.

[Anonymous]

Call to re-con.  I had more recent inquiries and new accounts showing when I applied for the Cash Rewards VS.  I was approved at a higher limit than my BankAmericard which is the only card in my revolving with a balance (0% APR until April 2018).

[CreditCuriosity]

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@arkane wrote:

Yep unfortunately you fell prey to BoA's newly instated 2/3/4 rule: https://www.doctorofcredit.com/httpswww-doctorofcredit-combank-america-312-rule-credit-card-approval...

Edit: Missed the bit about "4 new CC accounts with other banks". Hmmm not sure then.

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That rule is for BofA only CC's not all CC, so that doesn't apply.

With that said BofA pre-qual's with solid APR's aren't always solid as had a slew of them several months ago applied for the Alaska Air and denied.  Reason was too many new accounts.  Obviously I can't argue with that, but that doesn't fall under the 2/3/4 just they saw something they didn't like with me, etc.. The funny thing is since I blew a HP figured I would go for a CL with two of my other BofA cards and used the same HP and got 10k more out of Merrill which is what I asked for and another 5k out of my BBR which I asked for.. Suppose I might of been able to get more but all I needed or asked for.

You can recon when letter comes once you see reasons although they can just pull them out of the air as well and not really be the reason the declined you.  Certaiinly never really hurts to recon a denial as you took the HP already.

[BronzeTrader]

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@arkane wrote:

Yep unfortunately you fell prey to BoA's newly instated 2/3/4 rule: https://www.doctorofcredit.com/httpswww-doctorofcredit-combank-america-312-rule-credit-card-approval...

Edit: Missed the bit about "4 new CC accounts with other banks". Hmmm not sure then.

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Entirely not true.  We each have had 5-10 cards opened over the past year.  Still opened BA Premium Reward card.  BA did call to verify that we opened the new card.

[Anonymous]

I ran into something similar earlier this month. I have two existing BofA cards : TR = 6400 , CR = 2300 but applied for a PR card that was sent through email to me. I got denied and called recon they told me that I already had two cards and the reason for denail was because I am utlizing most of my credit and had one previous late pay in 2013. 

So needless to say I jumped at the offer, did a HP , got denied and not even a counter offer at all. I was told that they are more strict on approvals because the line starts at $5k. The credit utlization is because of 1 cc I am a AU on that my wife had decided to take up to 60% utlization.  I've had a cc with them almost 12 years now. Very disapointed.

Edit - My score was a 689, 136k annual salary and no baddies other then that **bleep** 2013 late pay. Which I've sent a letter to that bank trying to get it taken off.  I did also call what i think was a credit recon depart they reviewed it and said no still. Only called once.

[arkane]

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@BronzeTrader wrote:

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@arkane wrote:

Yep unfortunately you fell prey to BoA's newly instated 2/3/4 rule: https://www.doctorofcredit.com/httpswww-doctorofcredit-combank-america-312-rule-credit-card-approval...

Edit: Missed the bit about "4 new CC accounts with other banks". Hmmm not sure then.

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Entirely not true.  We each have had 5-10 cards opened over the past year.  Still opened BA Premium Reward card.  BA did call to verify that we opened the new card.

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I worded it badly but I thought OP had opened 4 new CC accounts with BoA, but turns out it was "with other banks", so that 2/3/4 rule obviously doesn't apply.