BoA credit application was declined due to recent negative balance on my savings account.

[CCWarrior]

Hello. My application was declined onlined. When I called senior credit analyst using backdoor number she stated that main reason for decline was that my saving account was negative in the recent time. I remember I had -5$ for about a month (I rarely use BoA savings and checking accounts) and said recon was declined as well. My FICO scores across the board around 760, Util around 18%. Do I need to keep calling again?

[ZackAttack]

I don't think that will do anything if you recall again.

I would just pay the negative funds on the BofA accounts you have and then close the accounts since you don't use BofA (assuming that you have taken your money to another bank). After that, I would wait for about 3 months and try reapplying again.

[CramEiko]

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@ZackAttack wrote:

I don't think that will do anything if you recall again.

I would just pay the negative funds on the BofA accounts you have and then close the accounts since you don't use BofA (assuming that you have taken your money to another bank). After that, I would wait for about 3 months and try reapplying again.

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+1

Banks have a separate coding system that they share. Separate from Credit Reporting Systems, it's all internal so that someone doesn't just keep screwing with banks and head to the next one.

Good Luck!

[CCWarrior]

Thank you!

[Anonymous]

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@CCWarrior wrote:
Hello. My application was declined onlined. When I called senior credit analyst using backdoor number she stated that main reason for decline was that my saving account was negative in the recent time. I remember I had -5$ for about a month (I rarely use BoA savings and checking accounts) and said recon was declined as well. My FICO scores across the board around 760, Util around 18%. Do I need to keep calling again?

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You will eventually receive an Adverse Action notice in the mail and it will be interesting to know what it cites as the reason; perhaps something like "previous unsatisfactory relationship."

In any event, having an overdrawn account is a serious no-no and grounds for credit denial.  In addition to your credit report, banks also check consumer reporting agencies like Early Warning Systems, Telecheck, and Chexsystems.  Bank of America is one of the founing members of Early Warning Systems.  Calling them again will not get the decision reversed.

[Meanmchine]

Going negative on a savings account usually happens when an automatic transfer occurs to cover an incoming NSF check.  Did you have a history of returned items?

[CreditInspired]

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@CCWarrior wrote:
Hello. My application was declined onlined. When I called senior credit analyst using backdoor number she stated that main reason for decline was that my saving account was negative in the recent time. I remember I had -5$ for about a month (I rarely use BoA savings and checking accounts) and said recon was declined as well. My FICO scores across the board around 760, Util around 18%. Do I need to keep calling again?

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Since the negative was the main reason, were there other reasons too? Did she say what they were?

[CCWarrior]

Negative happened on my BoA savings due to 5$ monthly charge for savings account. It stayed negative until my paycheck arrived when I noticed it and transferred money from checking to savings. She told me that was the only reason credit card application was declined.

[Meanmchine]

Thats sucks then.  $5 is a rounding error today.  Sorry OP

[NaaryalHead]

Declined over a tiny $5.  That's just crazy. *smh*