OOPS! BOA recons?! Update: post #40! Update#2: Approved for BBR!!!!

[Anonymous]

So I bit the bullet and applied for the Better Balance Rewards and got an insta-deny.

I have a 676 EX FICO, which is what BOA pulled. I have 12 EX inquiries (luckily, only two of them from the last 6 months).

Anyway, I called BOA's number for a credit analyst to recon and the analyst would not budge, even after I asked for a $500 limit just to get my foot in the door.

She cited two reasons:

1) Too short of credit history (AAOA about a year and a half)  

2) 6 late student loan payments on two student loans (12 lates in total) from 2013 (this is what I expect is the real reason for the denial).

I then asked if there was a secured version of the BBR card (which she did not directly answer, but I suspect the answer is no), but she did say if I wanted a generic secured card, I would have to apply for one. I told her no thank you, as my EX FICO score -- while not phenomenal -- is at least high enough that I do not have to settle for a secured card without rewards. Strangely, at this point, she said that they don't use FICO in their determinations -- that they just look at the credit file as a whole.

Anyway, I have a few questions that I hope to uncover some answers to:

1) What is the minimum limit for approval on the BBR? Or at least the minimum you've heard of?

2) Is it worth a second recon? Has anyone who has personal experience with BOA recons ever been denied on the first recon but approved on the second? 

3) Do you think I might have a chance at approval if I request they pull TU as well? My TU is 30 points higher -- 706. 

[Anonymous]

I don't think with all of those late student loan payments (that is quite a number of lates), a short AaoA, and a fairly low credit score that you have a short at a second recon.

I would work on the issues they said were a concern. 

[Anonymous]

also a lot of inquiries plus a short AAoa do not blend well together. Look at it from their perspective. Combine all that with 12 lates and a fairly low score, and they don't want to go there. BoA is pretty particular. Work on the issues they were concerned with and they may have a different answer down the road.

[Anonymous]

I don't know the lowest score for approval, but I recently got approved when my score was around 730+ with no badies yet a similar short AAoA. As have been told, it is better to wait all those badies gone before try again. Recon may not work for your case from the response of the SCP, I think.

[gingerflower]

@Op I would wait until all those late student loan payments clear +the inquires.

[Anonymous]

I think you need to wait a bit and garden.  

[OmarGB9]

+1^

[kdm31091]

Not seeing a great shot at recon here. Short history and those lates. Just garden and wait. Recon never hurts anything of course but you don't have much of a case. While the BBR is nice, it is a card that can certainly wait.

As far as your TU being 30 points higher....you're fixating on score too much. They don't just look at the score. So yes, it's higher, but your report/file is the same and that is what lead to the denial so I don't see TU helping you. And do you really want another HP for a BBR? Like I said, it's a nice card, but nothing that you can't wait for.

Also, 12 inquiries is a lot with your file. I understand they are not all new, but the fact is, they're still there. While inquiries don't impact your score much after 6 months to a year, that doesn't make them meaningless or they would simply disappear. They exist for 2 years to show credit seeking behavior. So they aren't hurting your score anymore, but they still show a lot of credit apps and BOA doesn't like it.

[Anonymous]

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@Anonymous wrote:

So I bit the bullet and applied for the Better Balance Rewards and got an insta-deny.

I have a 676 EX FICO, which is what BOA pulled. I have 12 EX inquiries (luckily, only two of them from the last 6 months).

Anyway, I called BOA's number for a credit analyst to recon and the analyst would not budge, even after I asked for a $500 limit just to get my foot in the door.

She cited two reasons:

1) Too short of credit history (AAOA about a year and a half)  

2) 6 late student loan payments on two student loans (12 lates in total) from 2013 (this is what I expect is the real reason for the denial).

I then asked if there was a secured version of the BBR card (which she did not directly answer, but I suspect the answer is no), but she did say if I wanted a generic secured card, I would have to apply for one. I told her no thank you, as my EX FICO score -- while not phenomenal -- is at least high enough that I do not have to settle for a secured card without rewards. Strangely, at this point, she said that they don't use FICO in their determinations -- that they just look at the credit file as a whole.

Anyway, I have a few questions that I hope to uncover some answers to:

1) What is the minimum limit for approval on the BBR? Or at least the minimum you've heard of?

2) Is it worth a second recon? Has anyone who has personal experience with BOA recons ever been denied on the first recon but approved on the second? 

3) Do you think I might have a chance at approval if I request they pull TU as well? My TU is 30 points higher -- 706. 

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You could always call back and ask for a Senior Analyst. I know of a fella who called these guys about 100 times over a course of 5 days and eventually got approved for a Travel Rewards. Don't give up so easy on this card, I have 4 of them and love the $480/yr I get from them for approximately $1,000 of spend.

[Anonymous]

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@Anonymous wrote:

So I bit the bullet and applied for the Better Balance Rewards and got an insta-deny.

I have a 676 EX FICO, which is what BOA pulled. I have 12 EX inquiries (luckily, only two of them from the last 6 months).

Anyway, I called BOA's number for a credit analyst to recon and the analyst would not budge, even after I asked for a $500 limit just to get my foot in the door.

She cited two reasons:

1) Too short of credit history (AAOA about a year and a half)  

2) 6 late student loan payments on two student loans (12 lates in total) from 2013 (this is what I expect is the real reason for the denial).

I then asked if there was a secured version of the BBR card (which she did not directly answer, but I suspect the answer is no), but she did say if I wanted a generic secured card, I would have to apply for one. I told her no thank you, as my EX FICO score -- while not phenomenal -- is at least high enough that I do not have to settle for a secured card without rewards. Strangely, at this point, she said that they don't use FICO in their determinations -- that they just look at the credit file as a whole.

Anyway, I have a few questions that I hope to uncover some answers to:

1) What is the minimum limit for approval on the BBR? Or at least the minimum you've heard of?

2) Is it worth a second recon? Has anyone who has personal experience with BOA recons ever been denied on the first recon but approved on the second? 

3) Do you think I might have a chance at approval if I request they pull TU as well? My TU is 30 points higher -- 706. 

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Do you REALLY need the card? or you just want it...just curious   You seem to have good cards already.