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So Bank of America said ....NO

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New Contributor

So Bank of America said ....NO

I bit the bullet and it didn't work out for me this time, I have had a checking and savings account with them for 5 years and have had direct deposit with them, I got declined for the bank america cash rewards card, I really liked transfering cashback to my bank account and getting an additional 10% I saw the "backdoor" numbers but which is the number to recon for bank of america? is it just customer satisfaction numbers or?

Equifax 649 - TransUnion 698 - Experian 666
Cap1 QuickSilver $3,800 / Cap1 QuicksilverONE $1,100 / AMEX BCE $500, AMEX Hilton Honors Surpass $1,000 ,Express $1,700 / Chase Amazon Prime Visa $3,000, Chase Freedom Unlimited $4,000 / Discover IT $500 / Credit One $600 / First Premier $700 / First Premier $650 / Walmart MC $700, Target RedCard Credit $400, Open Auto Loan Balance $21,000 / Open Personal Loan Balance $10,000. 1 open collections on my report for $2,000 from 2014.
9 REPLIES 9
Valued Contributor

Re: So Bank of America said ....NO


@BLiNK3246 wrote:

I bit the bullet and it didn't work out for me this time, I have had a checking and savings account with them for 5 years and have had direct deposit with them, I got declined for the bank america cash rewards card, I really liked transfering cashback to my bank account and getting an additional 10% I saw the "backdoor" numbers but which is the number to recon for bank of america? is it just customer satisfaction numbers or?


Try the number listed as Sr. credit analyst. Might not be open on the weekends though.

 

If I were you, I would wait a few days to see if you get an email or a letter in the mail offering you the 99/500 partially secured card. This card is almost the same as the cash rewards card, and for most people graduates to unsecure in 7-12 months. BoA doesn't seem to pigeonhole people into starter profiles like Capital One is known for, so their cards can grow very quickly. 

 

 


Message 2 of 10
New Contributor

Re: So Bank of America said ....NO

What is the 99/500 card I keep hearing it here and there

Equifax 649 - TransUnion 698 - Experian 666
Cap1 QuickSilver $3,800 / Cap1 QuicksilverONE $1,100 / AMEX BCE $500, AMEX Hilton Honors Surpass $1,000 ,Express $1,700 / Chase Amazon Prime Visa $3,000, Chase Freedom Unlimited $4,000 / Discover IT $500 / Credit One $600 / First Premier $700 / First Premier $650 / Walmart MC $700, Target RedCard Credit $400, Open Auto Loan Balance $21,000 / Open Personal Loan Balance $10,000. 1 open collections on my report for $2,000 from 2014.
Message 3 of 10
Regular Contributor

Re: So Bank of America said ....NO

Like Deebee mentioned its a partially secured credit card. You deposit $99 and they give you a credit card with $500 limit

Message 4 of 10
Valued Contributor

Re: So Bank of America said ....NO


@BLiNK3246 wrote:

What is the 99/500 card I keep hearing it here and there


It's basically an olive branch that allows you in with BoA. For a $99 deposit, they give you a $500 credit line. After 7-12 months of good behavior, they (almost always) will unsecured the card, and give you a CLI at the same time. They don't treat this low-limit starter card as a punishment, or stick you into a sub-prime box either, like Capital One and some other lenders do. There are plenty of people in the community that have taken their 99/500 cards to respectable 5 digit limits. 

 

BoA is generous with their CLI's every 4-6 months after that, but they're almost always customer-initiated, so it will be a HP. I've gone from $500 to $12,300 on my Better Balance Rewards card in less than 18 months. 


Message 5 of 10
Valued Contributor

Re: So Bank of America said ....NO

Recon offered me a secured card when they denied my "customized" cash rewards card offer.  It was not the 99/500, but the $300 minimum card.

 

I told them I could get credit from other lenders without having to pay for it so no thanks.


Message 6 of 10
New Contributor

Re: So Bank of America said ....NO

I shall try the recon call on monday morning, I would take the 99/500 

Equifax 649 - TransUnion 698 - Experian 666
Cap1 QuickSilver $3,800 / Cap1 QuicksilverONE $1,100 / AMEX BCE $500, AMEX Hilton Honors Surpass $1,000 ,Express $1,700 / Chase Amazon Prime Visa $3,000, Chase Freedom Unlimited $4,000 / Discover IT $500 / Credit One $600 / First Premier $700 / First Premier $650 / Walmart MC $700, Target RedCard Credit $400, Open Auto Loan Balance $21,000 / Open Personal Loan Balance $10,000. 1 open collections on my report for $2,000 from 2014.
Message 7 of 10
Established Contributor

Re: So Bank of America said ....NO

BOA can be wonky. I was instantly denied for the BBR initially with a score above 800, an income of $160,000 and only a few inquiries. I called in to recon as I couldn't believe it. As it turned out what hung the computer up on was I had just taken out a motorcycle loan a month before and had only made 1 payment on so my loan % was still very high. 

 

The analyst approved my card for $11k and it has since grown to $45k with 2 hard pulls and a consolidation with my old Fidelity card.

 

So two things to take away from my story. One is that recons do work for BOA and the other is that even if you get a limit you are not happy with initially, it can grow, albeit with some hp's.

Amex Delta Platinum 20k | Amex Hilton Aspire 20k | Bank of America Premium Rewards 21k | US Bank Cash+ 23k | Chase Amazon Prime 25.3k | Lowes 35k | Barclaycard Aviator Red 40k | Discover It 49.8k | Citi Thank You Premier 50K | Chase Marriott 50k | Amex EDP 56k | Bank of America BBR 78.9k
Message 8 of 10

Re: So Bank of America said ....NO

I've had the partially secured card for 15 months now. Called the other day and they sent me a letter saying that they won't unsecure it because lack of history with the card. I put plenty of "histoy" through the card. I cancelled it yesterday. I was trying to get in the door but then realized that I was in the wrong house. Waiting on my Citi secured to reach it's 18 month mark soon and see what happens with that one. 

Message 9 of 10
Regular Contributor

Re: So Bank of America said ....NO

My experience with BOA is if the cashier offers you a chance to apply, run, you won't be approved. If the website offers you a chance to apply most likely they will deny as well. If you get a mailer in the mail you are golden. I had my BOA account 20 years. They would tell me at the window over and over I was eligiable to apply for such and such card, I would ask the teller so this means I have a good chance to get it? They'd always tell me if it shows as an offer on my account I would most likely be approved. Denied every single time even with decent score. I'd get the we have a special offer for you when I'd log into my account. I'd apply lol denied. Finally I got my very first ever mailer last year for the 321 card said what the heck and I got approved. I have spoke to others who have had the same experience got denied everytime until they got the official mailer to apply.

Message 10 of 10
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