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Bank of America

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Anonymous
Not applicable

Bank of America

I decided to finish my app spree with a Bank of America cash rewards card - checked for offers - card came up - I applied and it immediately went into a Pending status. I called tonight and was told computers are updating and to call back tomorrow. Is this good or bad?

DP’s scores 721 across
Navy Amex - approved 10k
Pen Fed Power Cash - approved 7.5k
Amex Gold - denied
TD Ameritrade Cash card - denied
U S Bank reserve line of credit - said was pre approved then denied
Bank of America - immediately went pending

2 old baddies - paid charge offs from 6 years ago

Do you think I will be approved? Income over 60k. Said they needed more information. I can submit my paystubs (if needed) for POI but hoping for an approval tomorrow with a hefty SL.
10 REPLIES 10
AllZero
Mega Contributor

Re: Bank of America

Congratulations on your approvals.

Message 2 of 11
coldfusion
Community Leader
Mega Contributor

Re: Bank of America

BoA does run batch processing late each weeknight and they could also be in the midst of an internally scheduled maintenance activity tonight.  I wouldn't be concerned about it at just yet, just be sure to call them during East Coast business hours tomorrow like they requested.

 

They don't generally request POI and their verification is often to verify that it was actually you that applied for the card.  If they choose to verify by calling you it can take them up to a couple of weeks to get around to actually doing it.

 

As for hoping for a "hefty" SL, that depends on what you consider to be 'hefty'  as they tend to start out with relatively small SL especially with the 1st BoA card and be very generous with CLIs.  A $5K SL should not be construed as an insult, it's just how they roll.  With responsible use and prompt payment history the card can grow quite quickly.

 

 

(2/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 3 of 11
CreditInspired
Community Leader
Super Contributor

Re: Bank of America


@Anonymous wrote:
I decided to finish my app spree with a Bank of America cash rewards card - checked for offers - card came up - I applied and it immediately went into a Pending status. I called tonight and was told computers are updating and to call back tomorrow. Is this good or bad?

DP’s scores 721 across
Navy Amex - approved 10k
Pen Fed Power Cash - approved 7.5k
Amex Gold - denied
TD Ameritrade Cash card - denied
U S Bank reserve line of credit - said was pre approved then denied
Bank of America - immediately went pending

2 old baddies - paid charge offs from 6 years ago

Do you think I will be approved? Income over 60k. Said they needed more information. I can submit my paystubs (if needed) for POI but hoping for an approval tomorrow with a hefty SL.

3 denials! Were they recent? If yes, you should have put on the brakes after the first one. Why wrack up inquiries which will damage your overall credit profile. IMHO, I think it’s a decline but you might get lucky and pull a rabbit out of a hat. 

 

I suggest you stop applying for new credit until the AoYA ages 12 months. 


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 4 of 11
Anonymous
Not applicable

Re: Bank of America

It was a decline. I will sit in the garden for another 3 to 6 months and apply for nothing until these scores grow and inquiries fall off. Thanks for your valuable advice.
Message 5 of 11
CreditInspired
Community Leader
Super Contributor

Re: Bank of America

Inquiries won’t fall off for 24 months; however, they will have no scoring impact after 12 months. So, I think gardening for 12 months is a good idea because the two paid 6-yr old COs will have dropped from your reports too. Both of these things will give your scores a sizable bump.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 6 of 11
Meanmchine
Super Contributor

Re: Bank of America

Sorry OP

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2023 All 3 reports 840ish (F8) F9s = 850 but my app finger is still twitching
Message 7 of 11
kdm31091
Super Contributor

Re: Bank of America

In general when you're seeing multiple denials it is best to hit the garden.

 

BoA pending status can honestly go either way. The computer update thing is probably just that and likely means the person couldn't obtain any further information for you. I wouldn't take it as a good or bad sign.

Message 8 of 11
mustangy1
Valued Member

Re: Bank of America

Boa get **bleep** last a few years 
They denied my cashback cc from boa after in mail preapproval double checked online yes offer is there prequalifed 
but denied |last 24 3 hp
transunion 720 equifax 690
crditone 3k 3y
capitalone $3750 3y

capitalone $30003y
tdbank $3000 3y 
yes my bad should not apply **bleep**ty HP lover BOA 


TransUnion 727
EQ 707
EX 680

BK7 may 2016
capitalone 3.8k


Discover 2000.00

mercury 3500
ebay 9000

apple 3.8k


amex BCE 5000 authk
Message 9 of 11
Anonymous
Not applicable

Re: Bank of America

Who did they pull?
Message 10 of 11
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