I have a Bank of America BBR card that is almost 2.5 years old. So, I applied for 2 more BBR cards.
Once was granted, the other rejected with this in the letter:
"We could not approve your request because your credit references have not been established for a sufficient length of time. We invite you to reapply in the future when your credit and/or financial information changes"
The recon person stated that they check how many total cards you have, and how much you use them, and use that to determine if they can give you another card or not. So, I was not able to move credit limit from another card in order to get them to approve this card, since the system was rejecting the total number of cards I have. If I wasn't rejected due to number of cards, they would have moved some credit limit to allow me to have another card.
They pulled Experian FICO score 766.
I've never heard of this from Bank of America, so I though I would mention it.
@CreditMagic7 wrote:If not for another gardening stretch a second BBR would be ideal on this end too.
BofA is been outstanding in every way so far from excellent service to APR reductions, limits, CLI's etc. (Long list of positives)
So let's get this right. You actually applied for (2) BBR's around the same time?
Quite the feat so congrats on the new approval plus some useful info on this.
Yes, I applied for 2 BBR cards on 11/5. And opened a BofA savings account on 11/ I assumed one application would be denied as a possible duplicate request. Others have called and gotten the duplicate request processed, so I figured it was worth a shot since the inquiries would combine.
But unfortunately I couldnt get past the too many cards for my current credit status. I do plan to close a few cards in January/February... and there are other cards I could close, like the BBVA Compass NBA card that I never use. Its something to ponder, ie close some cards sooner rather than later...
I also picked up a NFCU card which hasn't appeared on my credit reports yet.