BoA 99/500

[Anonymous]

hi azsassycat. My FICO scores as of 09/18/2007: TU: 649; EXP: 647. Update: 2 days ago I went to BoA website, and somehow(I cant remember for the life of me how though) I was able to chat online to a CSR. She told me the 99/500 was not in their normal card offerings, but it is a counter-offer card and suggested I apply for a Visa Platinum Plus. I was expecting to be declined, and sure enough I was. BUT right in the decline page it says "But you HAVE qualified for a Partial Secured Visa Platinum. With a $99 deposit with us(and no you don't have to be a bank customer) you will get a CL of $500. What I was looking for in the first place. I sent the $99 off in the mail yesterday, and awaiting the card. Honestly honey, not sure your scores are strong enough to get that card, but I'll defer to better qualified people to offer their opinion, as I still consider myself a newbie here, and I'm in the 'scrambling to repair my credit mode'. good luck to you!

[azsassycat]

Sylviatob-

Thanks for the info - I've sent off about 10 PFD for old medical accounts (fingers crossed) - I'll wait until my scores get into the mid 600s before I apply.  You've saved me an inquiry.

Cathleen

[timber]

Well got my answer - yes, BOA does blacklist based on previous bad debt with them. I applied for their standard platinum visa and was declined and not offered anything else (99/500 or secured card) with the following reason: How We Reached Our Decision Your application was processed using a credit scoring system. The principal reason(s) for our decision were: * you have previously filed bankruptcy or have an account included in bankruptcy* * Denotes reasons outside of the credit scoring system or determined during an additional review of your file by a credit analyst. In reaching our decision, we relied on information contained in the consumer credit file from the consumer credit reporting agency: EXPERIAN, 701 Experian Parkway, P.O. Box 2002, Allen, Texas 75013, 1 888 EXPERIAN (1 888 397 3742) Bottom line - of you have bad debt with them or discharged BK and one of their accts was included, they will decline... at least until your bad acct ages off (7 yrs) and/or BK (10 yrs).

[Anonymous]

So the key is to get any discharged BofA account OFF of your credit report before applying............

[timber]

Yeah - and probably even better to have the BK off as well. I don't think they go as far as Amex to blacklist forever. Plus, I forgot that I also had an MBNA plat visa and personal loan as well that was discharged with my BK... so I had triple whammys against me, because MBNA is BOA now. What was I thinking.

[Anonymous]

Timber, that is my deal.   MBNA became BofA and I bk'd it.   I wasn't happy when I knew I was going bk and then heard that BofA bought them.   I would have never allowed any BofA to get to that position, since my bank account and IRA is with them.

[timber]

Boscoe - you got it. I too had all my accts at BOA and SDCCU (San Diego County CU) before my BK. Fortunately, I researched and did lots of prep prior to filing. Opened new accts with WF and got a secured visa with them too. People also have to be careful about CUs and their cross-collateral acct legal terms. I had an auto loan and visa at the time of my BK and decided to keep the auto loan current (didn't want to lose the car plus the APR was 4.5%) and let the visa CO. This was fine, but could no longer make electronic pymts on the auto loan and had to physically go to CU branch and pay - can you say humiliation every time the teller had to get 5 levels of approval and help to post the pymt. Well, fortunately a year later I traded the car for a new one and they accepted only the payoff for the auto loan and did not hook me for the visa amount ($2300) also. The only problem now is the CU visa shows on all CRAs as CO with the $2300 still owing, instead of $0 included in BK. I've thought about trying to offer them a deal to payoff the $2300 if they will stop reporting the visa... this would definitely boost my FICOs a little.

[Mikey]

Does anyone know if this card is BK-Friendly?

[Anonymous]

Mikey wrote:

Does anyone know if this card is BK-Friendly?

You may want to try their 100% secured card. SinceBofA considers itself a prime lender, they may not take to young bakruptcies. You can go to their site and check to see if you are preapproved and they will soft your report.

[Anonymous]

you don't have to take a hard inquiry to get this offering.

I read on another forum a guy that filled out BoA pre -approve form , and they basicly said his credit was too new and offered the partial secured card

https://preapproved.bankofamerica.com/cc/SelfInquiry.aspx