@Harvey26 wrote:@Anonymous probably your high UTL. you can always call and the can explain why you were declined and you can ask for a recon. It doesnt hurt to try.
It does not hurt and you already took a HP for it At the least you may be able to gather additional information about their decision.
@Anonymous wrote:I just wanted to update this. Not sure if it's actually useful or not, because apparently I'm the only one that missed the 2/12 rule. Oops. I'm at 5/12, I think. 2/6. Anyway, I opened a savings account and stuck enough in it to avoid the fees. I was going to wait a little bit longer, but oh well. I applied for the unsecured Cash Rewards, just because the SUB would have been nice, but I didn't figure there was actually much chance for that. I saw that they tend to counter with secured/partially secured, so felt okay about going that route. EX went up by one point, 667. I received the counter for the $99/500 partially secured, which I accepted.
I also got approved for $1000 NFCU CLOC tonight.
And now I really do need to garden. But it was a couple pieces of good news in an otherwise horrible, terrible day/week, so I'm thankful for that.
Thank you for sharing 👍... and I did forget about the 2/12 policy of theirs!
Oh and... congrats on t your approvals!
@Anonymous wrote:Oh, and I thought this was a bit interesting. It didn't occur to me until today, but they haven't done a new hard pull yet. I didn't ever call about the original application, just reapplied yesterday. So, unless something changes, they must have automatically used the pull from 2 or so weeks ago. Maybe they usually do that, but I've never had anything with BofA before, so I was a little surprised when I realized that.
That is a plus... so, good luck with the SP and let hope it remains this way from you!I 👍
@Anonymous wrote:Hi Vmc726. I mistyped, it's actually 3/12. From my understanding, if you have 3 or more new accounts within the last 12 months (I think this only applies to revolving accounts like Chase, but hopefully someone can correct me if I'm wrong about that) and no banking relationship with BofA, it's an automatic denial. However, if you have a deposit account with BofA, they up the limit to 7 or more new accounts in 12 months. Since I think I've had 5 new accounts over the last 12 months (I regret a couple of those, but they were before better approvals), that's why I opened the savings account, so that I could apply under the 7/12 rule instead. In my case, it was worth it to get that card. I live in a very rural area, so do a huge percentage of my shopping online, so that 3% back is really handy.
If I'm off on any of that, hopefully someone will correct me.
Thanks all!!!
Their rule is supposed to be just for their accounts. No more than 2 BoA cards in 2 months, 3 in 12, 4 in 24. What you do outside of them doesn't matter to them other than maybe a credit seeking flag on the report, but it isn't a hard criteria like Chase.
as of 1/1/23
