Bank of America - Ridiculous Rejection...disappointed.

[AverageJoesCredit]

Biggest mistske/ misconception is believing a Boa prequal is a preapproval. Their prequal page is a joke and shouldnt be tsken seriously. If you were looking for a travel card id be willing to bet they recommended their travel card lol.

As for why Chase would approve you and Boa would not, no 2 creditors will look at your profile the same. Regardless of why those baddies are on your report , they are there, thus holding down your scores and affecting your profile.

[odd_dog]

Sorry to hear OP, but totally sympathize with you....I am a Merrill and BOA Platinum rewards member, have been for years, and they will not approve me for ANY new cards, not even a CLI on my existing....True I am LOL/24 but scores in top 700 or low 800 no lates, nothing and no matter what card I try for, Freedom (eagle card) or Premium rewards it is always a no go....SO much for "if your a Merrill client" they approve you easier!   LOL     Luckily there are other banks out there!

[pinkandgrey]

Sorry you were denied. FWIW, BofA will never let me in lol. I’ve been denied three times 

[Anonymous]

Please allow me to jump in and add my two cents: 

Back in september my score was 444. I hired a small company and they have cleaned up my mess, in the process, I've been sued one time by credit one bank. Called them up, paid the settlement amount and avoided goign to court which is april 26th this year. Anyway, I had 2 full years of late payments on my car, (it's finally now on time payments), i had so many companies in collections, maybe 9 or more?? i lost count! They are all either removed or paid in full. And it reflects this on my report. As of now, i have zero items in collctions. I have 2 AU accounts (my first ones to get my foot in the door), and (in order of applying) opensky cc (secured) , discover (secured), capital one (unsecured), credit one bank (unsecured, they sued me in the same week they also approved me for a credit card, weird)., nordstrom, and low and behold yesterday, (i bank with BofA, have checking, joint and savings account with a good balance) I decided eff this, i will just apply and see what bofA will say! I applied online, and was approved for $2000!!!! WHOA. all my other cards are $200, $300, $400, $450 and nordstrom $300! I couldn't believe it. Back in the summer of 2018, BofA wouldn't even let me 're-open' my account with them because i owed them money... I paid it off. walked into a branch and i said look, i'm a different person now! I will show you! and the manager said okay, pay this amount and u got it back! And in september is when i started doing damage control from years of being lost in the world... (after divorce, etc). 

My credit scores today EX are 649 EQ 669 TU630.. all fico of course. I am so happy that i am on track and it feels so liberating. 

[Anonymous]

So sorry this happened. You are doing well with the cards you have. Time will take care of all of this if you keep on time payments. I have to wait until October of 2020 for an ancient late payment to fall off my Equifax report. I know it's hard, but if you stay patient good things will happen. Best of luck to you.

[mustangy1]

BOA look like keep records of 10 year blacklist blocking they keep sent me pre-approval when i have many good cards and limits in acc. 
Just because tehy were my old ex bank with 500k annual rollover account, 
I tried to get a card 
BOOM denied 
Call back reconsideration 9 years ago unpaid 1k (of total 40k debt 39k paid) 
1k debt lol becuase boa was trying to charge excesive apr %20 finally i give up and didnt paid 1k 
BOA . is aggresive nowadays keep sent offer and keep declined they enjoy hard pulling everyone i guess

[Aim_High]

@Baphometsangel wrote: Hey @FinStar

- Well believe it or not I was able to get approved for CSP and Amex Gold with that same exact credit profile.

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Sorry to hear of your wasted app and experience with BofA, OP but I can't say at all that I'm surprised or that I can agree it's a "ridiculous" rejection.  If you had asked the community first, we would have told you that (1) BofA has become more conservative in recent lending overall and also (2) the Premium Rewards card has very very stringent underwriting on it. 

Comparing Premium Rewards to the Chase Sapphire Preferred or AMEX Gold underwriting is almost laughable.  Those are both much easier to get.  Even though they would seem to be more selective cards, they are not even in the same league.  Underwriting on AMEX cards, especially their charge cards, is not what it used to be.  Do a search on the forums and you'll see multiple threads about the Premium Rewards card and how people with much stronger profiles than yours got denied. 

But thanks for the Data Points and hope you have better luck with your next app. 

[SoCalifornia]

I feel you came out on top, given your profile at the time of apps.  Somewhat surprised Chase shot you such a decent limit, but hell, Freedom Unlimited is hardly a terrible card and Ultimate Rewards are hardly a terrible program to be in.  Congrats on the approval, the latter.

[Anonymous]

Last reponse here was  APRIL... old thread.

[SoCalifornia]

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@Anonymous wrote:

Last reponse here was  APRIL... old thread.

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Snap. @AimHigh and I fell victim to a new member reviving the thread.  I didn't even glance at the dates.  Those are the breaks.