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BoA cash Rewards decline

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Regular Contributor

BoA cash Rewards decline

So I applied for my cli from Bank of America, and got declined! Waited for the ol decline letter to come, says reason for decline: account not open for 12 months, my account is 6 mos old, have a $2000 limit and have kept it at 1% util for the 6 months it’s been open, paid in full, but didn’t know it had to be open for 12 months before you can get a cli
Message 1 of 13
12 REPLIES 12
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Super Contributor

Re: BoA cash Rewards decline

Sorry for your CLI denialSmiley Sad

Message 2 of 13
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Valued Contributor

Re: BoA cash Rewards decline

Sorry for the denial Smiley Sad



Message 3 of 13
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Super Contributor

Re: BoA cash Rewards decline

That's unfortunate. The good thing is CLI request are SP.
Message 4 of 13
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Super Contributor

Re: BoA cash Rewards decline

 

Good luck in 6 months !



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>03/2020 CCT EX 832 TU 848 EQ 842

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And it wouldn't cost me a dime
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I'm gonna drive everybody wild
'Cause I'll have the only one there is around.

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Message 5 of 13
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Valued Contributor

Re: BoA cash Rewards decline

Sorry for you decline. Thanks for sharing the DPs.




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Message 6 of 13
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Regular Contributor

Re: BoA cash Rewards decline

Yea it was a shocker to me, I figured 6 mos was long enough but I guess not, don’t know if boa is changing how often or when your first one can be but obviously mine won’t be for 6 more months
Message 7 of 13
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Regular Contributor

Re: BoA cash Rewards decline

Sorry, to hear about your denial.  

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Message 8 of 13
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New Contributor

Re: BoA cash Rewards decline

Thanks for sharing. Do you have any other accounts with them? I’ve read your other post and like me you don’t seem to have perfect credit. I’m asking because I’m interested in getting in with BofA too.
FICO 8
1/2020 EQ714 TU736 EX719
2/2020 EQ718 TU744 EX731
Message 9 of 13
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Valued Contributor

Re: BoA cash Rewards decline


@Batwood1 wrote:
... I figured 6 mos was long enough ...

Getting in with a lower limit/higher APR is often a sign from the lender they aren't especially eager to lend, at that time. I've had lenders treat me this way (Hi! Penfed & CapOne) at the same time others give me 10-30k CLs. It's nothing to take personal. It's just different underwriting criteria.

 

But build a favorable borrow/pay history with them and eventually the vault opens wider.

 

Don't be dismayed. Be patient. 

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