Seriously BOA?

[Doodlebug30]

I have a BOA customized cash rewards card with a 2K limit. Got it 11/2019. My experian fico is 775 and i havent had a new app since november of 2020. I applied for the Ulimited cash rewards visa and they denied it saying the amount of credit they have extended me meets or exceeds what they can offer or some crap. Income 100k btw. Total CL's of about 67K. 

The analyst on the phone couldnt understand why and escalated it to her manager. **bleep**? Anyone with any insight? I dont need the credit but i was looking forward to using not only the 0 interest for 15 months but the $200 bonus towards the nursery furniture my husband and I are buying very soon....

[FinStar]

It simply means that given your overall profile, income/DTI, current exposure, economic trends, etc, etc, their algorithms are simply not in a place to approve another BoA card. Aside from the score you provided, income and TCL, we really don't know what else BoA is looking at. You can call the decision or reasons "crap", but at the end of the day they hold the gold.

I would imagine you've requested CLIs on your existing Customized Cash Rewards in the past? If so, what have been the reasons for no CLI?

[ChargedUp]

Keep in mind also that BoA uses TU for CLI's. You should be able to view your TU-08 on your BoA account page.

[Doodlebug30]

@FinStar I know they hold the gold, just aggravated lol. Yes i have asked alot and always says no bc of derogatory marks but those have since fallen off. I have a squeaky clean report. I guess they sent it up for recon...not sure how successful that will be but owell.

[Doodlebug30]

@ChargedUp I wasnt asking for a CLI i was applying for a new Unlimited Cash rewards Visa

[FinStar]

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@Doodlebug30 wrote:

@FinStar I know they hold the gold, just aggravated lol. Yes i have asked alot and always says no bc of derogatory marks but those have since fallen off. I have a squeaky clean report. I guess they sent it up for recon...not sure how successful that will be but owell.

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Most recently, at least within the past year or so, most reconsideration don't yield much and original decisions stand. I'd say temper expectations.  Maybe Cash Magnet can be an alternative, if you decide to pursue it.

[FinStar]

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@Doodlebug30 wrote:

@ChargedUp I wasnt asking for a CLI i was applying for a new Unlimited Cash rewards Visa

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Perhaps @ChargedUp was piggybacking on my comment about your existing Customized Cash Rewards CLIs.

[Doodlebug30]

I wanted the cash magnet but bc i have the BCP i wont get the welcome bonus or intro APR...I was kind of looking for that so i went with BOA...

[ChargedUp]

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@FinStar wrote:

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@Doodlebug30 wrote:

@ChargedUp I wasnt asking for a CLI i was applying for a new Unlimited Cash rewards Visa

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Perhaps @ChargedUp was piggybacking on my comment about your existing Customized Cash Rewards CLIs.

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Yes, that's what I was getting at. 

The $2K limit means BoA is letting you in the door, but they're also being cautious about it. While your app may have been an EX HP, they can and do SP the other bureaus like TU, which is why I brought up their use of TU for CLIs.

Let BoA get to know you and they'll open the door wider for you.

[Doodlebug30]

I guess I just don't know how much wining and dining they need haha I've had my cash rewards for 2 yrs. Perfect history. I have a good amount of money in their bank accts with a good income and good score. Wth? Eh, it is what it is I guess. I was just shocked lol