Denied for BankAmericard Cash Rewards, next steps?

[Anonymous]

As you can tell this is my first post to the forum. Before I tell you my story, I just wanted to say thank you to this community. I had zero credit history three years ago when I was lurking here. Due to this forum's advice, I was able to get approved for a $300 limit Capital One card. Three years later I have four cards and over $40,000 in credit lines and I owe most of it to myFico.

Recently, I decided to sign up for BankAmericard Cash Rewards to take advantage of the increased bonus of $200. I was denied. The letter I received confirmed my Experian FICO score as 744, but stated I was rejected for an insufficient number of credit references and insufficient revolving credit accounts. I have four credit cards and an auto loan.

I already tried calling for reconsideration, but didn't get too far with the analyst. I was asked about my liquid assets, but it still seemed like the decision was being made by an algorithm, and not the person on the other end of the line.

What are my next steps from here? Is it worth it to try reconsideration again, and if so, is there a way I can get my application decided on by a human?

[Anonymous]

You can try to recon again, it won't hurt anything. What all cards do you have right now and how long have you had them?

[Anonymous]

Capital One Platinum, March 2013 (PC to Quicksilver)
Discover It, January 2014
American Express Blue Cash Everyday, September 2014
Citi Double Cash, September 2014

[Anonymous]

So sorry this happened. What is your utilization on your cards?

[Superpet39]

What are the CL's on those cards, and what is your stated income? Any late payments also?

[Anonymous]

I stated my income as $51,235 and my utilization is below. I have zero late payments.

CapOne 30/4,300
Discover 70/9,900
AmEx 101/18,000
Citi 145/9,000

I also took out an auto loan in December 11,810 of 12,856 remains on that.

[Anonymous]

Your profile looks good then, I was thinking maybe your accounts were really new, but they're not. I think you just got a bad rep then, so try to recon again. Do you have any baddies on your report? (I wouldn't think so with your scores, but you never know).

[ojefferyo]

I'm wondering if the analyst didn't like seeing balances on all your cards even though they are low. 

[Anonymous]

I can't seem to get in the door with BoA but I've made peace with that.

As for you...your scores and profile look good. If everything is clean it was probably a rep having a bad day...never hurts to try a 2nd recon.

There may be some merit to your multiple small balances preventing an approval, even though they're small and the denial for such a reason ridiculous. Creditors do prefer to see only one card at a time reporting a balance apparently.

Did you ever burn BoA? Years ago?

[Anonymous]

I have no derogatory marks and no history with BoA: good or bad. My Experian report does have somewhat high number of inquiries, but that wasn't listed as a reason on my letter.