Bank of America

[antdave93]

That charged off credit card was my oldest account last month

11 years of credit history wiped out. It is only left on my tu report

[FinStar]

Ok.  So, on the surface, it appears the info you've shared may not have all the adequate "positives" to leverage an approval (or borderline at best).  Was the 99/500 offer provided as a contingency?  Would you be opposed to getting that product in the event that the application may not be approved through normal underwriting?

The thing is, if you do talk to an underwriter tomorrow, they'll likely review everything from your file (EX and/or TU) plus your income/assets, employment and all that good stuff.  The question would be whether you have something solid to leverage the negative items (even if paid) and/or the thin file during the appeal process.

[antdave93]

I would consider the 99 offer, it still is a great secure card, for anything i could add income is decent 45 plus steady employment over eight years at same job 14 straight working years
Credit was in the low 500 8 months ago

[antdave93]

No other solid debt but rent and life expenses

[FinStar]

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@antdave93 wrote:
I would consider the 99 offer, it still is a great secure card, for anything i could add income is decent 45 plus steady employment over eight years at same job 14 straight working years
Credit was in the low 500 8 months ago

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If they offer the 99/500 product, take it.  It is a great BOA card which will not only graduate/unsecure, but it will grow as well - you can also add the Cash Rewards feature as well.

You can contact their U/W team tomorrow and just be prepared to address any points that they may bring up (just in case the application was not approved).  This way your appeal process will be sound as opposed to being unprepared.  Try to see if they can work with you on the unsecured route, even if a small CL.  If not, see if there are any options going with the secured route so at least your appeal efforts are worth it in the end since you've already taken the HP.

[antdave93]

Thanks fin for your help

[FinStar]

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@antdave93 wrote:

Thanks fin for your help

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Anytime.  Let us know the progress or status of this so others can also learn from your experience.

[antdave93]

Well finstar I called the credit analyst back about credit app decision and was told I was denied due to lack of credit references , limit revolving accounts, and that my paid judgement was paid off this year. I guess paid judgement must be a little older im assuming.

Just have to wait if they are going to send me the 99 500 counter offer. I was alittle bum out this, but had a plan B for this.

Anyway I was doing my homework about the barclaycard reward card for average credit for months now and thought I would have a good chance of getting that card. Long story short after I got off the phone with boa, I applied for Barclaycard and was approved for 800 dollars! Not much I know, but its a start, and more then I expected. So in less then 5 minutes I was really bummed out to feeling really good about myself!

Ps sorry for any typos, 

[antdave93]

Also, i already know how Barclaycard is about inquiries

Also i knew i was have a good chance with them because they normally pull transunion and my score is 690

And since boa only pulled experian my Transunion score would still be intacted

I didnt just apply on a whim and sadness

[FinStar]

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@antdave93 wrote:

Also, i already know how Barclaycard is about inquiries

Also i knew i was have a good chance with them because they normally pull transunion and my score is 690

And since boa only pulled experian my Transunion score would still be intacted

I didnt just apply on a whim and sadness

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Congratulations on Barclays!  A great step in the right direction for sure.  Don't worry about the CL - it can grow over time ... plus you have to start somewhere.  There is always opportunity and I'm glad to hear Barclays opened the doors for you.