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BofA CC denied because of Ch7 despite not being included?

Horseshoez
Established Contributor

Re: BofA CC denied because of Ch7 despite not being included?


@Remedios wrote:

@Horseshoez wrote:

@FinStar wrote:

@jwa77 wrote:

denying a secured card to me is ridiculous.  There is literally no risk to them; so **bleep** is their problem?


A risk is still a risk for any lender, regardless whether it's BoA, Discover, TD Bank, NFCU (as far as secured cards go).  Every FI has their own lending policies.  All you have to do is look at plenty of rebuilding threads where folks had secured cards (of any flavor) that defaulted, even if a security deposit existed. 

 

Also, no lender will be the right fit for everyone, so there's plenty of other fish in the ocean if BoA (or any other lender) is not a favorite cup of tea.


I understand the general thrust of your statement, however, I'm having a difficult time wrapping my brain around a fully secured credit card being a risk of any sort.


Of course there is a risk once secured card graduates. While we might be playing with our money at first, once the deposit is returned, we are playing with theirs.

 

 

 


Understood, but graduation is at their discretion; unless I'm missing something, if they feel there's an unacceptable risk if/when the card becomes unsecured, then cannot be compelled to graduate the card.

I categorically refuse to do AZEO!

Message 21 of 23
1GaDawg85
Valued Contributor

Re: BofA CC denied because of Ch7 despite not being included?


@Horseshoez wrote:

@1GaDawg85 wrote:

Even after my CH7 discharge in 2012, BoA still refuses to do business with me (I did include them so they are probably still made about it)


I'm curious, what are the reasons they're giving you?  In my case they came back with two bogus reasons for denying my application for a secured credit card.


It was the BS reason "Intent to file bankruptcy". Even called the backdoor number for reconsideration and they were not budging off that decision. It would be nice to have them in my wallet again but I don't need to carry cards just to carry them and for the hope, they might give a CLI via SP. I have gotten results from DCU, GS,  Navy Fed, and at some point Macy's. 



FICO 5 ,4, 2 - 5/2021

FICO 8 - 5/2021

FICO 9 - 5/2021


Message 22 of 23
Horseshoez
Established Contributor

Re: BofA CC denied because of Ch7 despite not being included?


@1GaDawg85 wrote:


It was the BS reason "Intent to file bankruptcy". Even called the backdoor number for reconsideration and they were not budging off that decision. It would be nice to have them in my wallet again but I don't need to carry cards just to carry them and for the hope, they might give a CLI via SP. I have gotten results from DCU, GS,  Navy Fed, and at some point Macy's. 


Interesting, that was one of the two reasons why they denied me, even though my Chapter 13 had been discharged for two months by then.  The other reason was claiming I'd applied for their BofA Premium Rewards card when in reality I applied for their Secured card.  Like you, I appealed, in writing (showing documentation proving my discharge and an audit trail showing the card I'd applied for, and got denied again for the same two reasons.

I categorically refuse to do AZEO!

Message 23 of 23
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