Bank of America - HELP! Approved Card and then CLOSED!

[MrsCEO]

Morning All!

I was approved for a Bank of America Premium Rewards card last week and received the card on Saturday. I tried activating the card and was unsuccessful. I called customer service on Saturday and they stated that the accont was closed (weird)!

I just called and was told that the representative that approved my credit card approved it in error and tried reaching me 2x after the call and was unsuccessful. 

Does anyone have any contacts in Bank of America (email preferred) that I can contact? I've heard of folks contacting the CEO with various banks and receiving success for certain issues. Any suggestions? I currently have 2 other credit cards with Bank of America (approved within the last month). 

The limit was $7,500 and the limit on my other 2 cards are $5,000.

[xaximus]

Backdoor Numbers

I would probably try to reach out to the Credit Analysts or the EO office. Did they give any reason? High balances? Low score? Etc. Please provide a bit more info and maybe we can find out why it could be denied.

Thanks and Good luck!

Edit - Have you applied for alot of cards in the last 6 months? 

[JR_TX]

First, sorry to hear about it OP.
Their Premium Rewards Card is their Top Tier card that requires the most stringent UW requirements. We’ve seen Elite MFers with Top tier scores get denied by them.
You need to reach out to them first and find out the reason/s for the cancellation. Anything anyone says at this time will just add confusion to your question rather than answers. And yes banks can and do rescind approvals for whatever reason they deem necessary to protect their interest. Happens all the time.
But DO NOT just give up though! You already took the HP so might as well Recon and plead your case with their Senior UW (EO) numbers on the sticky thread though some “might” be outdated.
Best of Luck and please keep us posted!

[Anonymous]

So you had two other bank of America cards opened in the past month? I'd have to assume the denial is going to stick. Might want to wait a few months and apply again.

[kugel]

Bofa is known of doing this things closing ppl accounts without notice very nasty
The other 2 accounts u have is Bofa also ?

[imaximous]

---

@Anonymous wrote:
So you had two other bank of America cards opened in the past month? I'd have to assume the denial is going to stick. Might want to wait a few months and apply again.

---

^^^ I agree with this. BofA has its own version of Chase's 5/24. I believe it's 2 cards per 2 rolling months. So if you already got 2 cards within that period, then that's most likely the denial reason. Then it goes 3/12 and 4/24.

Edit: difference is Chase's policy includes cards from all lenders. BofA restricts the # of cards with them only.

[FinStar]

OP, as others have mentioned, it's doubtful the EO will be able to have the UW/lending decision overturned. Rarely the case with BoA.

Granted, it sounds like an error may have occurred at some part of the UW process, but lenders reserve the right to modify, rescind and/or cancel the account if a secondary or judgemental review reevaluates the overall risk as a whole depending on their internal policies.

[Caught750]

BoA has a rule where you can't have more than 2 approvals in a rolling 2 month period. This is likely the reason for the cancelation of the card.

[Remedios]

If my math is right, based on previous posts, OP has at least 5 new cards with other lenders in less than 4 months and two more with bank of america in the past month (not counting Premium Rewards). 

That would have been 8 altogether. 

I think most lenders would get a bit spooked at such sudden burst of activity