BofA Denial -- Please help!

[Anonymous]

Profile in siggy. I was instantly denied for the BofA Amtrak card (40k SUB).

I can't imagine why. They pulled Ex, which was just shy of 750 before their HP. 4% util overall, 13% on one card (Chase, which I thought would have already reported my PIF, though assuming was my fault). The only other factor is that I moved within the past couple months, though I've not heard of BofA doing ID verification like Chase.

Any ideas? Waiting for the letter is going to kill me...

[FinStar]

You can try reaching out to UW via the backdoor numbers sticky thread and see whether they can provide you with the reasons before you receive the correspondence.

If denied due to verification, there is a possibility to rectify it. Otherwise, they're pretty much not prone for reconsideration. Just curious, how many inquiries or new accounts in the past 6-12 months?

[coldfusion]

Did you get an actual denial or was it just a 7-10 day message?  BoA sometimes does do outbound verification where they call and it can take them a couple of weeks to do so.

You aren't disqualified by their 2/3/4 rule either. 

[Anonymous]

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@FinStar wrote:
You can try reaching out to UW via the backdoor numbers sticky thread and see whether they can provide you with the reasons before you receive the correspondence.

If denied due to verification, there is a possibility to rectify it. Otherwise, they're pretty much not prone for reconsideration. Just curious, how many inquiries or new accounts in the past 6-12 months?

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Regular phone number just told me to wait for the letter; I might try recon tomorrow, though I'd rather not tick them off if they tell me to wait for the letter as well.

Ex had 2 HP in 6 mo and 3 HP in 12 mo (My most recent HP before today was for utility service). Only 2 new cards in 6 months; 3 in 12 months.

[Anonymous]

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@coldfusion wrote:

Did you get an actual denial or was it just a 7-10 day message?  BoA sometimes does do outbound verification where they call and it can take them a couple of weeks to do so.

You aren't disqualified by their 2/3/4 rule either. 

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"Unfortunately, we're unable to approve your credit card application at this time." Is the verification you mentioned in conjunction with that, or the 7-10?

Nope, not over 2/3/4 or 6/6. If they adopted 5/24 I suspect I wouldn't be the first to encounter it...

[Anonymous]

Is it possible that I could have a low customer score for only using the 2/3% categories on my CR cards? My spend on them has not been huge, though I've been using the cards both regularly.

[FinStar]

Nah it's highly unlikely that such reasoning played any role with getting declined. Though, I'd be curious to learn what the correspondence cites as the reason(s).

[Anonymous]

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@FinStar wrote:
Nah it's highly unlikely that such reasoning played any role with getting declined. Though, I'd be curious to learn what the correspondence cites as the reason(s).

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I'll keep the thread updated.

Additional point: my income is higher than my previous approval with them back in January, even after factoring in my higher housing payment. The only thing I see that could have spooked them is the 13% on the one card. I doubt that would instantly decline though.

[CreditInspired]

I’m almost willing to bet it’s verification because you moved. So be prepared to fax a copy of you updated DL.

[Anonymous]

I think it’s address as well. Did you update your new address with them before applying?