recently I applied for my second BOA BBR credit card and was initially declined. The letter told me my ex fico score was 754, and that I didn't have sufficient credit references and do not have established revolving credit accounts.
I wrote them the following letter and was able to obtain an approval,
3/17/2015
Bank of America
PO Box 2493
Norfolk, VA 235012493
Dear Bank of America
I would like to ask you to reconsider my application for your BankAmericard Better Balance Rewards Platinum Plus MasterCard. I recently applied and I was rather surprised to receive a denial regarding my application. Due to the numerous positive reviews shared by my family and friends with respect to this card, and the fact that I already posses one. I would like to share some more information with you in hopes of a reconsideration on your behalf and an eventual approval.
In your letter, you listed that the reasons for the denial were “you do not have a sufficient number of credit references and you do not have sufficient established revolving credit accounts”. However, I would like to shed some more light and update some of these issues. Firstly, I do have a quite a few credit references, I have multiple credit cards, never missed a payment on any of them. I received a car loan, initially it was a 5 year loan, I paid it off in only 13 months. I will soon be applying for student loans, which will help round out my credit portfolio. I even have you, Bank of America as a credit reference. I’ve only had a relationship with you for 10 months, but I’ve always made payments in full and in a timely manner. To refute the second point about not having sufficient established revolving accounts, I would to direct your attention to my 3 oldest accounts, Wells Fargo, Discover, and American Express, I’ve had all of these accounts for at least 2 years, the foremost I have had for over 4. All are in good standing and will remain so for the rest of my life. I’m trying to thicken my credit portfolio while young, so as I age all my accounts can age together. Building strong relationships with various lenders.
The BankAmericard Better Balance Rewards Platinum Plus MasterCard will prove especially useful to me because it helps reinforce positive behavior. It teaches credit users to pay more than the minimum and rewards them for doing that. This card is a brilliant move on your behalf. It should lower the amount of outstanding balances on customers credit cards, thus lowering their risk to you. Another amazing thing about this card is the BankAmericard Deals, I don’t always get them, but I have been fortunate and used 12, usually at chilis. I know Bank of America is an amazing bank, and thats why I want to start my relationship with you guys at a young age. Who knows, when I move after I complete graduate school, Bank of America could very well fund my next car loan.
I sincerely believe that I deserve a chance with this card. If you are willing, you can even start me with a low credit line so I can prove to you my reliability and loyalty to this bank. If needed, I am also willing to request credit line decreases on some of my other active cards, if absolutely necessary.
I thank you for your time and reconsideration and I hope to hear back from you soon.
Best,
Dabossman (cut real name, address, and reference number
Looked at my online banking today and saw a second BOA BBR card on their. Can't wait to get it in the mail!
This was also my first ever successful recon because I've always received auto approvals before this
For reference
I'm 22
Have 11 credit cards (including new BBR)
Income 18-20k
Available credit is now 33k
Scores have increased since last update of sig a few months back
Thanks for reading. Hopefully this letter can be used as a template to help future recon, I found it on another cc site like flyertalk or million mile secrets. If you google you'll find it
