Bank Of America Cash Rewards - Denied

[FinStar]

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@xgac12x wrote:

I just got off the phone with BoA, got approved with a $600 limit

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Glad to hear the experience turned out positive in the end.  While the initital CL may seem on the low end, it can eventually grow.  The important thing is you've gotten your foot in the door with BOA.

[FinStar]

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@enharu wrote:

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@knoregs wrote:

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@B335is wrote:

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@knoregs wrote:

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@enharu wrote:
You should check your chexsystem report. Most lenders pull that as well for credit apps. If possible, try to have those derog(s) removed, otherwise it may affect you for other credit apps as well.

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Is this correct? Can anybody verify? I can understand for like a credit union membership but has anyone been turned down for a loan/credit card because of a ChexSystem entry?

~kn

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I haven't heard of any denials on info obtained from ChexSystem besides Credit Unions, but I can definitely see it being a reason if you're seeking credit from said lender.  US Bank is known to also pull ARS/IDA.

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Reason I asked is because I have a CO checking account that I'm currently paying on per agreement. They made an entry to chexsystems already and when I asked if they would remove it if I paid in full they said no that they'd only update the info to reflect the paid status. I have apps planned for the near future.`Arrrgh!

~kn

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It's best you pay it off first, then app.

Why risk it? You might be doing yourself a disservice this way. It's always best to make your CR look as good as possible, then app.

Those cards that you are planning to apply for are not going to disappear just because you push your apps back by a few months..........Or you can stop splurging and direct more money towards that CO so it gets paid off faster. 

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+1

[09Lexie]

I'm glad you were able to turn around the decline. Just think, if you never apped that 'overdrawn' account could've ended up as a CA on your cr.
Congratulations.

[xgac12x]

Would it be possible to get this card expedited? 

[FinStar]

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@xgac12x wrote:

Would it be possible to get this card expedited? 

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I don't believe there's such option unless you have one of their upper-tier cards such as the Travel Privileges or Cash Privileges.  You can always call them and see.

[xgac12x]

Yeah I got my Chase Freedom in the mail today so I'm alright. I can wait 

[enharu]

I think they can expedite it, though they generally won't. I'm not sure if the Merrill+ counts as an upper tier card, but they were able to expedite it for me. The analyst said they usually don't do it, but he was able to anyhow without any extra fees. It does take 2-3 days for them to generate the card and account number, especially if you are a new BofA client like me, before they can then ship the card out.

[xgac12x]

Oh okay, I was going to try and get it before I left for my trip this weekend, but thats alright. Maybe when I get my black card or palladium they'll rush it for me  Hey the quicker I have it, the quicker I can start spending money! (Thats an idea you can tell them) lol