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BofA Premium Rewards decline

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Super Contributor

Re: BofA Premium Rewards decline


@CreditCuriosity wrote:

@norb wrote:

I paid them off in full about 3 years ago and they no longer report, but BofA could still have memory of it.


Oh they certainly have an internal DB of these accounts even if not on report.  Still be curious if that is the main reason


I wonder if OP is a Preferred Rewards client, and if so at which tier.

 

They have history of me going back to when my account was with BayBank Boston.

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 11 of 26
Super Contributor

Re: BofA Premium Rewards decline


@coldfusion wrote:

@CreditCuriosity wrote:

@norb wrote:

I paid them off in full about 3 years ago and they no longer report, but BofA could still have memory of it.


Oh they certainly have an internal DB of these accounts even if not on report.  Still be curious if that is the main reason


I wonder if OP is a Preferred Rewards client, and if so at which tier.

 

They have history of me going back to when my account was with BayBank Boston.


Ive had my BoA checking account which goes back to the Nations Bank days.  This card is on my wish list too




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>01/2020 CCT EX 832 TU 848 EQ 842
It's just a jump to the left
And then a step to the right
Put your hands on your hips
You bring your knees in tight
But it's the pelvic thrust that really drives you insane
Let's do the Time Warp again!
Let's do the Time Warp again!

Message 12 of 26
Regular Contributor

Re: BofA Premium Rewards decline

What else does BoA want for that card? Not like you can do much better. 

 

Higher income maybe? 



Currently planning gardening until December 2021 when all HPs drop. Perhaps a bit extreme but want more history before applying again.
Message 13 of 26
New Member

Re: BofA Premium Rewards decline

They showed pre-aproval for Bank of America Cash Rewards and I applied and denied. Tried to recon, nope. I submitted a complain with CFPB since I wasted a hard pull and to their credit I was over 5/24. It is getting hard to get approved for churners. 


Seeding.....
---------------------
WF Proppel / Uber Visa/Paypal 2%/Chase Amazon Prime/AMEX Everyday/Discover IT/BOA Travel Rewards/Target Credit Card/Old Navy Credit Card

TU 803 / EF 809 / FICO 803
Message 14 of 26
Regular Contributor

Re: BofA Premium Rewards decline

everyone is saying that there's a new rule, can't have more than 2/12 unless you have a bank acct with them. do you know what report and score version they pulled for you?

 

i'm gonna app for the CR in a few days. i'm at 3/12 but my third card isn't reporting yet! they'll be able to see the inq for the 3rd and i'm hoping that they won't care about it.


Message 15 of 26
Valued Contributor

Re: BofA Premium Rewards decline


@credit-user-19 wrote:

What else does BoA want for that card? Not like you can do much better. 

Higher income maybe? 


The likely reason was highlighted in message #7 of this thread, previous charge offs. 

 

This is is very much a relationship card, but OP did have banking with them. Except for COs, probably would have been approved with those DPs. 

 

Message #7 link;

https://ficoforums.myfico.com/t5/Credit-Card-Applications/BofA-Premium-Rewards-decline/m-p/5776363#M...

 

 




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9+ years; AoYA = less than 1 year (Nov 2019)
Total Open Credit Lines Over $440K. Utilization Less Than 1%. Inquiries until May 2020 (TU:2 -- EQ:2 -- EX:6)
*Hover cursor over each card to see name, CL
Message 16 of 26
Super Contributor

Re: BofA Premium Rewards decline


@iLikePlastic wrote:

They showed pre-aproval for Bank of America Cash Rewards and I applied and denied. Tried to recon, nope. I submitted a complain with CFPB since I wasted a hard pull and to their credit I was over 5/24. It is getting hard to get approved for churners. 


The CFPB dismisses as frivolous those complaints made simply because one was denied credit when there was no evidence of a violation of any regulations.    

 

BoA gives what are in reality recommendations to apply as well as preapprovals.  However, even with valid preapprovals in hand the aggregate odds across US issuers are in the order of 10% that an application based upon a true preapproval will be denied. 

 

Can't blame issuers for cracking down on churners and bonus chasers as they aren't likely going to be profitable clients. 

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 17 of 26
Super Contributor

Re: BofA Premium Rewards decline


@creds wrote:

everyone is saying that there's a new rule, can't have more than 2/12 unless you have a bank acct with them. do you know what report and score version they pulled for you?

 

i'm gonna app for the CR in a few days. i'm at 3/12 but my third card isn't reporting yet! they'll be able to see the inq for the 3rd and i'm hoping that they won't care about it.


I understood it was 3/12 but 7/12 if you have an account.

 

BoA is not intrinsically sensitive to inquiries; it's profile dependent. 

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 18 of 26
Regular Contributor

Re: BofA Premium Rewards decline

they're calling it the 3/12 and 7/12 rule, but if you have that many you get denied

https://www.doctorofcredit.com/report-bank-of-america-7-12-rule-3-12-rule-for-new-cards/ 

 


Message 19 of 26
Valued Member

Re: BofA Premium Rewards decline

I got the decline letter today.  It was the charge offs from early 2012.  They were paid in full and no longer on my credit report, but I guess they have a long memory. Oh well, it is probably a good thing since I didn't need the card and I should wait to be under 5/24 for the Chase cards I really want.

Message 20 of 26
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