@happypill wrote:I had a CO with BofA. DoFD was 2010 and I settled with them in 2013 (about 1/2 of full amount). I got a secured card with them in early 2015 - had to recon to get it. Eventually, this unsecured after about 9 months, and around 9 months after that I was able to get them to convert it to a BBR. CLI would have required a HP, so I declined, but very happy to have the BBR.
Earlier this year (about 6 years after DoFD and 3 years after settling the CO), I was declined with scores similar to yours Ysettle4 (just below 700). I reconned and clearly their main issue was the CO. The analyst suggested that he could approve me after that fell off the report (which should be early 2017, given the DoFD). I do have extensive banking history with BofA (including past mortgage, business account that processed $3M in payments per year for several years, etc.), but currently I just have a minimal direct deposit through my personal account (they had a $300 checking promo a while back).
So, not to be a Debbie Downer, but the CO could be a factor. One question may be, did you pay it off in full or settle for less? I settled for about half of $5k so may that's why they are unhappy.
This is great info so thank you. Yes, it was settled by the "primary" account holder so I'm not sure how much of it was actually paid. At this point, it's safe to assume that attempting to apply for their products before the CO item has been removed is pointless.
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