BofA Inquiry Help please

[RsxWithSlicks]

So I called the EO and spoke with a very sincerly sounding woman who seemed to offer an apologetic ear. Basically she told me that they will refer it over to their credit specialist and they will get back to me BUT it can take up to 15 business days.

She also told me that she wasn't 100% sure since she's not in credit but the 2nd hard pull for an auto loan would be required in her opinion. I would have to verify that with their credit specialist when I get contacted by them.

Thanks for the help so far guys. I'll try and keep this updated with the outcome.

[lobsterfordinner]

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@RsxWithSlicks wrote:

So I called the EO and spoke with a very sincerly sounding woman who seemed to offer an apologetic ear. Basically she told me that they will refer it over to their credit specialist and they will get back to me BUT it can take up to 15 business days.

She also told me that she wasn't 100% sure since she's not in credit but the 2nd hard pull for an auto loan would be required in her opinion. I would have to verify that with their credit specialist when I get contacted by them.

Thanks for the help so far guys. I'll try and keep this updated with the outcome.

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Best of luck!

[heyarrnold]

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@RsxWithSlicks wrote:

So I called the EO and spoke with a very sincerly sounding woman who seemed to offer an apologetic ear. Basically she told me that they will refer it over to their credit specialist and they will get back to me BUT it can take up to 15 business days.

She also told me that she wasn't 100% sure since she's not in credit but the 2nd hard pull for an auto loan would be required in her opinion. I would have to verify that with their credit specialist when I get contacted by them.

Thanks for the help so far guys. I'll try and keep this updated with the outcome.

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Woo hoo. EO is awesome. I am sure they will take great care of you. Let me know what happens

[RsxWithSlicks]

So I got contacted by Rozie M. today from BofA EO.

She introduced herself and basically told me that my case was assigned to her. She'll look over the chat sessions with the two BofA representatives and get back to me with her findings.

Also she did tell me that IF I were to apply for an auto loan through BofA, it would be an additional hard pull. Hopefully they drop the one for the CLI so I won't have 3 hard pulls from BofA in 2 months.

Thanks everyone for the help especially heyarrnold. I'll keep you guys posted.

[CreditMagic7]

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@oilcan12 wrote:

Congrats on your CLI.

BOA virtually always does a HP on TU for a CLI.

They will use the same HP for 30 days.

CSR's very seldom know whether it will be a soft pull or a hard pull.

Always remember this last point.

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+1

With BofA it is a HP almost if not always a bonified HP when requesting a CLI no matter what the up front CSR says.

[heyarrnold]

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@RsxWithSlicks wrote:

So I got contacted by Rozie M. today from BofA EO.

She introduced herself and basically told me that my case was assigned to her. She'll look over the chat sessions with the two BofA representatives and get back to me with her findings.

Also she did tell me that IF I were to apply for an auto loan through BofA, it would be an additional hard pull. Hopefully they drop the one for the CLI so I won't have 3 hard pulls from BofA in 2 months.

Thanks everyone for the help especially heyarrnold. I'll keep you guys posted.

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No problem  I am sure that the inquiry will be removed. 

[RsxWithSlicks]

I was unaware that BofA always does HP since they told me otherwise.  Also on the forums, I saw quite a few people saying that they got credit offer or CLI with auto loan HP. Guess it didn't work backwards.

I've been a BofA member for over 10 years and just finally opened up my first credit card with them in June.  Actually the old lady helping me with replacing my expired ATM card was pushing me to get one. I figured hey.. why not? Figured I could see how my credit had grown over the last 6 months and make her look good. Lol.

I'll keep you guys posted.

[RsxWithSlicks]

**Update**

So I got a call from BofA yesterday but was unable to answer. No voicemail left.

I called back and spoke to someone who transferred me to a credit specialist or something. Basically they told me keep the hard pull or lose the CLI. And that typically they pull Experian for new accounts and TU for CL so not to worry about my score being affected. Ironically both pulls were done on my EQ. I asked if that was the case, can I request another CLI on the same HP.

She asked me any specific reason. I explained that I recently opened up an account with Chase and in comparison to BofA, they've been most generous though I have no prior relationships with them. And considering how long I have been a member of BofA and how much I have in my account, I should feel some sort of loyalty with them, no?

So she asked me how much and I replied with $10k CL. She initiated the request and put me on hold for about 30 min. Then came back with Congratulations! You've been approved for a new CL of... $5k. I was honestly shocked, a little hurt, and quite a bit angry. I mean over 10 years with BofA, and more than enough to buy a new car in my accounts, and I'm given $5k after 2 CLI. Granted its within 2 months but still.. Chase gave me a $7k and a $4.5k without any prior relationship and/or knowledge of how much I have in my accounts. Anyways, I guess she could hear my displeasure and had to throw in that since my credit account was only open for 2 months with, they wanted to see responsible use. Then she adds in Oh! Well you've been doing a VERY GOOD job of it so far! Keep it up and we'll see about raising it up after you continue to show us responsible use.

The way she said it slightly irked me even more..

I decided I'll give them ONE more chance. There's a HIGH possibility that I'll be getting a promotion and pay increase within the next couple weeks. If it does end up happening, I'll try and go for CLI #3 on the same pull. If they deny me or still keep me under Chase's limit.. I'll probably go and move my financials over to Chase. Considering my experience with them so far.. I think they might treat me a little better than BofA.

[yfan]

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@RsxWithSlicks wrote:

So she asked me how much and I replied with $10k CL. She initiated the request and put me on hold for about 30 min. Then came back with Congratulations! You've been approved for a new CL of... $5k. I was honestly shocked, a little hurt, and quite a bit angry. I mean over 10 years with BofA, and more than enough to buy a new car in my accounts, and I'm given $5k after 2 CLI. Granted its within 2 months but still.. Chase gave me a $7k and a $4.5k without any prior relationship and/or knowledge of how much I have in my accounts. Anyways, I guess she could hear my displeasure and had to throw in that since my credit account was only open for 2 months with, they wanted to see responsible use. Then she adds in Oh! Well you've been doing a VERY GOOD job of it so far! Keep it up and we'll see about raising it up after you continue to show us responsible use.

The way she said it slightly irked me even more..

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Seriously, there is no point bellyaching about how a bank treats you just because you have had an account with them for x number of years and have y amount of dollars in that account. It is very often the case that certain banks treat a given person better when it comes to credit cards and other banks treat them better when it comes to bank accounts. There is also no point in expecting "loyalty" from a for profit business - and I don't say that to be mean. The truth is that banks look after their own interests, not yours, and you should look after your interest, not theirs. If Chase offers you better deposit accounts, then move your money there now, not in a month.

Let me give you an example. Last month, I joined a new credit union because they have a high interest checking account (provided certain conditions are met). When I joined, they also offered me a credit card, and using it a certain number of times per month raises my interest in the checking account, so I accepted it. But the rewards are lousy, and card has one of my lower limits, and will never get more than the requisite number of swipes at fairly low amounts. So their credit card sucks (but it helps me earn a higher interest in my checking). But they also offered to refinance my car, and clipped 2.5 points off the interest rate I was paying. They did it with zero fees (except a title transfer fee, which is charged by the California DMV, not the credit union).

Am I happy with my car loan and my checking account with this CU? You bet. Do I like their credit card? Heck no. So what? One financial institution doesn't have to get all my business.

[heyarrnold]

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@RsxWithSlicks wrote:

**Update**

So I got a call from BofA yesterday but was unable to answer. No voicemail left.

I called back and spoke to someone who transferred me to a credit specialist or something. Basically they told me keep the hard pull or lose the CLI. And that typically they pull Experian for new accounts and TU for CL so not to worry about my score being affected. Ironically both pulls were done on my EQ. I asked if that was the case, can I request another CLI on the same HP.

She asked me any specific reason. I explained that I recently opened up an account with Chase and in comparison to BofA, they've been most generous though I have no prior relationships with them. And considering how long I have been a member of BofA and how much I have in my account, I should feel some sort of loyalty with them, no?

So she asked me how much and I replied with $10k CL. She initiated the request and put me on hold for about 30 min. Then came back with Congratulations! You've been approved for a new CL of... $5k. I was honestly shocked, a little hurt, and quite a bit angry. I mean over 10 years with BofA, and more than enough to buy a new car in my accounts, and I'm given $5k after 2 CLI. Granted its within 2 months but still.. Chase gave me a $7k and a $4.5k without any prior relationship and/or knowledge of how much I have in my accounts. Anyways, I guess she could hear my displeasure and had to throw in that since my credit account was only open for 2 months with, they wanted to see responsible use. Then she adds in Oh! Well you've been doing a VERY GOOD job of it so far! Keep it up and we'll see about raising it up after you continue to show us responsible use.

The way she said it slightly irked me even more..

I decided I'll give them ONE more chance. There's a HIGH possibility that I'll be getting a promotion and pay increase within the next couple weeks. If it does end up happening, I'll try and go for CLI #3 on the same pull. If they deny me or still keep me under Chase's limit.. I'll probably go and move my financials over to Chase. Considering my experience with them so far.. I think they might treat me a little better than BofA.

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Yes, they take the CLI with the removal of the inq. So, did you take another HP? I hope not.