cancel
Showing results for 
Search instead for 
Did you mean: 

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

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Member

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

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?
Message 1 of 10
9 REPLIES 9
Regular Contributor

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

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.

Michigan Schools & Gov't Credit Union Classic Visa Card | $3kDiscover Student Cash Back | $2300Capital One Savor Card v1 | $11k AUAmex 1.5% CB | $2kBest Buy Store Card | $3k

July 2018
Ford Credit Loan $199.26/month (3 yrs)
January 2019
Discover Cash it Card $500
Michigan Schools and Gov't CU Card $1,000
February 2019
Self Lender Loan (Closed July 2019)
May 2019
Discover CLI $1.2k
July 2019
Discover System CLI $600
Amex $2,000
Best Buy Store Card $3,000
October 2019
MSGCU CLI $2k

Eyes on Credit Cards
BoA Cash Rewards (with or without Student Verison)Gas Card with 5% Cashback w/ no AF2% Cashback EverythingDining & Entertainment Category Card
Message 2 of 10
Frequent Contributor

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


@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.


+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!






RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel | Cap1 QS |
Message 3 of 10
Member

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

Thank you!
Message 4 of 10
Valued Contributor

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


@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?

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.





Message 5 of 10
Senior Contributor

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

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?




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>09/2019 CCT EX 829 TU 848 EQ 837
Jack Webb: "That figures. Now let me see if I got the facts straight here. Cleaning woman Clara Clifford discovered your clean copper clappers kept in a closet were copped by Claude Cooper the kleptomaniac from Cleveland. Now, is that about it?"
Message 6 of 10
Community Leader
Senior Contributor

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


@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?

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

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 7 of 10
Member

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

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.
Message 8 of 10
Senior Contributor

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

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




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>09/2019 CCT EX 829 TU 848 EQ 837
Jack Webb: "That figures. Now let me see if I got the facts straight here. Cleaning woman Clara Clifford discovered your clean copper clappers kept in a closet were copped by Claude Cooper the kleptomaniac from Cleveland. Now, is that about it?"
Message 9 of 10
Regular Contributor

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

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

BofA Cash: 6k
Citi Premier: 5k
Citi DC: 4k
Chase Amazon: 4k
Cap1 QS1: 1.5k
Barclays Uber: 0.5k







Next App in: Late Oct 2019

Torch bearer of the Bucketeers' Society. Shamefully carrying a bucketed Cap One QS1 with AF & zero chance of a PC.
Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.