Officially done with Bank of America

[Mr_Mojo_Risin]

Where else would you rant about a bank or credit card if not myFICO lol.

Seriously though,  I appreciate your post, I like to read everyone's experiences with all banks/lenders.

Your post can be useful.

[vic6string]

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@CreditCuriosity wrote:

Have you been opening alot of accounts recently being CC accounts?  would also like to know the reason you can call UW and find out or wait for the letter.  I only have about 7kish parked in a Merrill account and have both personal/business card with them, granted never a BK.  Would like to know the reasons as well as never had an issue with them also pre-qualified with solid aprs on all their cards now as well, but cannot apply due to house being built as would love to get the premium rewards bonus.

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Only one new account in the last couple of years...about 6 or 7 months ago. I really don't feel like calling to ask, so I will wait for the letter, but the last time I applied the only reason listed was the BK, and my profile has only gotten better since then with the BK no longer showing.

[vic6string]

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@Yasselife wrote:

@vic6string I wouldn't take it personal if I were you, I can understand the emotion but it's always best to base our decisions on cold logic. BankOfAmerica is a great bank and eventually you'll get its cards which they're  also great. 
   Stay positive.

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I figured it was "cold logic" that the previous rejection wa based on the BK that no longer exists, and the pre-qual no longer says "there is nothing, but try this", it actually says "try this". Recieving two emails from them pitching the card within days of the BK dropping off my reports also seemed like a good sign seeing as I never get cold emails from them.

[tempelhof1]

Don't feel too bad. There are other banks out there. I know what you are going through as well. I did burn FBNA? in BK while I was employed with BofA in 2013. I tried for years to get a card while working there and while working at Merrill. Always shot down! Even as an employee! 

One of the reps even had the nerve to tell me on when I asked for recon that me paying off my car lease early and turning it in was a negative since the credit report showed that it was paid off before the lease ended, LOL! That was the final straw. 

[barca]

@vic6string - don't take it personal . 

this banking stuff is like rolling a dice. Some banks will like you, some will love you and some will hate you.

I burnt BOA over 30K during the last recession. (student loan about 20k was forgiven, auto loan was settled for less, burnt a couple of cards.)

Yet, BOA treat me like a rock star...

cash card = $99, 900 credit line

auto loan = 65K

thank you for been a customer since 2005 is how they greet me like a king.

I burnt discover for like 11K.

Discover refuse to increase my credit line above 5K

they even refuse to prequalify me for personal loan ("status of previous credit card statement blah blah blah)

As an aside, the BOA prequalification is solid if you are an existing customer.

How do I know?

• if I freeze my credit report and I click on the "terms and conditions" I get APR range.
• if I unfreeze my credit report and I click on the "terms and condtions", I get a solid APR

[Yasselife]

@tempelhof1 You could also see it from their perspective; even though you had a BK, BanfOfAmerica hired you as an employee.

[Trini88]

Let's see. They were the 1st ever card I tried to apply for, obviously denied for not having any credit history even though at the time I was with them 13 years. Tried a year later, denied for having too little accounts. My 3rd denial was something along the lines about my relationship with them which I didn't get....I had 15 years with them, said forget it and applied and got the secured card easily. I always pay in full, I have no negatives, I didn't even have a car so no debt to income ratio used, nothing. The denials were never about too many accounts and never about too many inquiries. It was 1st no history, 2nd too little accounts, 3rd something about my relationship with them. Side note and I have never in my life overdrawn my account with them, owed them, nothing, I saw that I could convert the Americard into a cash rewards later down the line so I settled. I even spoke to a rep last month about early graduation with my card and the rep noted my stellar history with them but nope, denied, I was a month early. 

[tempelhof1]

They hired me before to my BK filing. They did keep my employed. I made great friends there who I still keep in touch with today.

[GatorGuy]

Thanks for sharing your experiences. I have no relationship with BOA but they were high on my list for future apps and expanding into. 

They have some interesting cards that may be useful to me but the main thing has been needing to transfer $100k into a brokerage account to maximize their rewards. 

[SoCalGardener]

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@GatorGuy wrote:

Thanks for sharing your experiences. I have no relationship with BOA but they were high on my list for future apps and expanding into. 

They have some interesting cards that may be useful to me but the main thing has been needing to transfer $100k into a brokerage account to maximize their rewards. 

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I had a Merrill Lynch account through them for many years, and highly recommend it.

FWIW, BofA has been in my family for generations, and I can't think of a single instance where anyone was unhappy with them. I realize we all have different experiences, and the people posting about how awful BofA is certainly have the right to their own opinion, but in five generations of my family, spanning coast-to-coast, we've all been perfectly happy with it and never left.