BofA Denial - Does recon have to be the same day?

[lilsprinkles]

Hello,

I received an instant denial on the BofA Cash Rewards.  My question is does recon have to take place immediately (like same day) and does it mean another HP?  I went on an app spree in the last couple weeks and I’m assuming the denial is due to the new inquiries but I have late payments so maybe they’d deny me anyway.

DP:

I ordered the FICO 3B today and my scores and utilization are:

EQ - 686, 20% 

TU - 679, 17%

EXP - 667, 17%

3 collections, all medical, all paid (didn’t know about PFD at the time)

Multiple accounts with late payments about 1.5 years ago, 30,60,90 

I’m happy to provide other DP, can’t put anything in my sig yet since I’m a newbie.

Thank you for all your help so far, this forum is amazing!

[Pikaboo-icu]

Hello, Happy you're here... 

I'm not a BOA customer so I can't really help you there, sorry.

I can suggest that you try a GW letter campaign for the paid collections.

Since you didn't know to ask for a PFD, you can at least ask for them to remove them now that they're paid.

They don't have to do it and some flat out will not but give it a go anyway. Try to "jolly" them to see if they will remove.

It may not work but it sure can't hurt. 

I don't want to seem negative but with your scores, lates and collections, it may be a little too soon to app BOA.

What other cards did you get approved for in your recent "spree"?

  Cheers

ETA: Sheesh I forgot the main question.. You do NOT have to recon same day. It may or may not require another HP, depends on the lender and their reason for denial. 

[CreditInspired]

Hi OP

Unfortunately, those recent lates and especially the 60 and 90-day lates are going to hold you back from getting prime cards like BOA, so IMHO, I don’t think recon will get you an Approval and it would be another HP wasted.

I know you didnt ask for suggestions, but I think you should garden for at least 12 months and work on getting UT less than 8.9%.

[FinStar]

As mentioned above OP, reconsideration is going to be a long shot in this case. They may or may not HP again.

I'd say wait until your overall profile is more optimal to reapply.

[lilsprinkles]

Thank you for the reply 😊, I’ve learned so much from you guys. I know the opinions on here are sort of 50/50 about Lexington Law but I hired them and they’ve been successful in getting a couple paid ones removed.
As far as approvals: Chase Freedom 6400K, CitiDC 5K, PayPal Extras MC 3K, Amex Delta Skymiles 1K and a measly $500 on Target Redcard. I was also able to get some of my other cards increased, my CareCredit went from $800 to 8K per advice I saw on here about asking for 2 bumps to not leave money on the table. My Discover card was bumped from 6300 to 9K. Now that I have a better mix I’m going to garden. I want to be in the high 700s again.

[lilsprinkles]

Suggestions are always welcome!! I really appreciate all the info on here. To the garden I go!!