BoA two denials and one application under review

[Anonymous]

I recently applied for three BoA applications on a whim (was feeling kind of lucky, honestly) knowing I’d likely be denied but figured I could take one HP for three apps. Two were instant denials immediately processed and one has been “under review” for three days. Any reason why three applications submitted the same day brought two immediate results while one remains undecided? Could this mean it’s possibly an approval? The “in review” card is the Cash Rewards if that makes any difference.

[FinStar]

It's doubtful you'll clear the 3rd application hurdle OP. If you submit multiple applications within a short timeframe, BoA can flag any of them.

Why were the first 2 applications declined? What 2 CC products did you apply for?

[Anonymous]

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@FinStar wrote:
It's doubtful you'll clear the 3rd application hurdle OP. If you submit multiple applications within a short timeframe, BoA can flag any of them.

Why were the first 2 applications declined? What 2 CC products did you apply for?

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I have one delinquency from a closed AMEX account from when I was very new and naive to credit. Oldest account though. And my credit history is limited. No late payments in the last year, but only four current, revolving accounts. The other two cards were the Bank Americard and Travel Rewards. I was thinking maybe the Cash Rewards has a lower SL option? I haven't been able to find much info about that though. Heck, I'd be happy if they threw me a $500 SL! I'm trying to build credit history here, but it's hard when I've only been approved for two CapOne cards (QS1 and Platinum, which is now a QS, my first prime card! Woo! CapOne loves me) and two secured cards (Discover - which I can't seem to get to graduate for the life of me, depsite having a perfect record with them - and Citi- quite new).

[pinkandgrey]

Honestly I assume it’s a denial. But there’s only one way to know for sure. Call BofA. Good luck!

[_NERD]

Do you know your

- FICO 8 scores?

- Utilization reporting?

- HPs on your 3B?

[FinStar]

Although anything is possible, the UW for most of their CCs is fairly similar across the board OP. There's a few that have different criteria such as their Premium Rewards.

You can periodically check the status of your application online to determine the outcome, but it's likely going to yield a decline unless there's an offer for a secured CC instead of the one you applied.

[kdm31091]

I think their UW for most of their products is pretty similar, as Finstar noted. The Premium Rewards seems to have a bit higher of a standard but otherwise they're all similar.

Multiple applications are unlikely to be of much help. If one was declined they'll likely all be declined unless there's a secured offer or something. I don't say it to be rude - just that the days of multiple applications are basically dead. If anything it just flags you as desperate and/or a reward chaser, neither of which the banks want to deal with.

[Mahraja]

Applying for 3 products @ once with any lender is not what i would recommend .always do your research and than make sure you have high chances of approval and than strike otherwise skip it.

[Anonymous]

Submitting multiple apps with the same vendor definitely raises a red flag, we had another poster who applied for a Penfed card and while the first app was pending, he applied for 3 other penfed cards immediately with the same line of thinking to use the same HP and increase the chances of approval, obviously that's not how it works (especially with Penfed) and the subsequent denials were not hard to predict, if anything the additional apps destroyed any chance that first pending app might have had. The same poster was then AAed by Comenity and Citi (5 closed accounts) later on for aggressive credit seeking behavior.

OP is also demonstrating credit seeking behavior based on the short posting history here, my suggestion is to put the brakes on and revisit the strategy.

[kdm31091]

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@Anonymous wrote:

Submitting multiple apps with the same vendor definitely raises a red flag, we had another poster who applied for a Penfed card and while the first app was pending, he applied for 3 other penfed cards immediately with the same line of thinking to use the same HP and increase the chances of approval, obviously that's not how it works (especially with Penfed) and the subsequent denials were not hard to predict, if anything the additional apps destroyed any chance that first pending app might have had. The same poster was then AAed by Comenity and Citi (5 closed accounts) later on for aggressive credit seeking behavior.

OP is also demonstrating credit seeking behavior based on the short posting history here, my suggestion is to put the brakes on and revisit the strategy.

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Right. Nobody wants to appear aggressive or desparate at this point. Banks are not fond of that behavior at all.