Question on BOA Platinum Business Card Invitation

[Red1Blue]

Thanks Hauling. You put it in the right words. I'll leave every thing alone for next 3 months and let the dust settle.

As you suggested, I'll put all my energy and efforts on expanding the business. Last week I made few calls to my friends in MS/Seatelle. I am going down there for a biz meet and discuss logistics for a new product launch. I think I have an exciting and wonderful year ahead of me in 2008.

Thank you all for your help and keeping my head straight.

[Anonymous]

Even though you were convinced not to apply. I have the BOA card. I got the invite like you and thought it was preapproved. Since then I've learn that BOA loves to give inquiries.

It was a Transunion pull, luckily I was at 700 at the time.

I got 2 hard inquiries on Experian for the Platinum Plus personal card which they ended up giving me the 99/500 because of inquiries. 4 from them...2 for that card and 2 for a line of credit for the business which I got rejected for because of TOO MANY INQUIRIES.

That is the only thing I hate about BOA, they love to hit you with inquiries. I just froze my Experian so my personal doesn't suffer for my business, way too many inquiries as it is and half of them aren't even authorized.

[Red1Blue]

Hi eddie, you should have told me sooner. I responeded to the app and I got a hard on TU and got the message, unable to process it now and check back later. I hope it is not going be a denial. I want to totally seperate the biz and personal credit. All I need is one good Major card and I am done.

I also like your idea of locking the credit report to prevent all these useless hard inq's they are pulling on me for my business. I'll look into locking all my CR's. Thank you for mentioning it to me.

[Anonymous]

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@Red1Blue wrote:

Hi eddie, you should have told me sooner. I responeded to the app and I got a hard on TU and got the message, unable to process it now and check back later. I hope it is not going be a denial. I want to totally seperate the biz and personal credit. All I need is one good Major card and I am done.

I also like your idea of locking the credit report to prevent all these useless hard inq's they are pulling on me for my business. I'll look into locking all my CR's. Thank you for mentioning it to me.

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I didn't notice the thread before

I'm trying to get prime or close to prime personal cards and also build business credit like you. Unfortunately I don't have the best personal except my TU and I still get rejected from Advanta and others.

I'm at 6 months with BOA so hoping for the increase. But they pull Experian for almost everything else, glad the business card is TU.

Locking Experian costs 10.70, it's on their website. Sick of the way they don't react to those false inquiries, even with a fraud alert. Planning to lock Equifax too with the old chargeoffs since they have the wrong dates on them and refuse to reinvestigate. Even though the chargeoffs are paid it's still an instant turndown on business applications.

[Red1Blue]

I agree with you Eddie. I do have other biz cards, All I want to do is get one Prime Biz Card like Visa/MC/Amex.  I am battling to get couple of paid collections out. Until I could get that done citi does not want to touch me. D&B is slow to update. I have close to 14 accounts that I have been paying since August and they are reporting only 5 accounts.

I have to get at least 11 reporting before I could get a Visa/MC with out PG. I got First Equity Biz card. They let me use only $3000/month. That means even If do PIF they would not let me use the credit again for that month. Strange, but I guess it is ok. I had the card for 3 months. They said they will give CLI in 3 months from now. Many of EX hard inq's are for my business. That is killing my EX Score. Hopefully by end of this month all my EX inq's would be 1 year old and stop effecting the fico score. My TU is at 697 / EX 669 / EQ 665. I am hoping those scores would go up once I could get those paid collections and lates removed.

By the way stay away from Advanta. They would pull all 3 and most likely they will not like they see in one of the 3. Stay away from it until you have all 3 scores in 700.

Any way I think I pulled it off good so far. So far so good. All I want to do is get one major card. I want to see if Amex would give me a card. I dont want to get them all upset. As Hauling said, I'll wait 3 months and ask Amex for Biz card. Hopefully my D&B Score should also improve, hoping D&B would update my record. They want me to spend $699 and sign up for the payment verification.

Oh well. We will make it.

[Anonymous]

Doesn't Key Bank allow no PG? I assumed since they're Citi they may let me in. I do have Conoco, Shell, Sears, Office Depot and almost a year of history on Staples. The other 4 are recent but have been used.

I have an application in with Key but they seem very slow. HD MC wants more accounts reporting but not sure of an exact number, don't think it's 11. One guy said 25 but I've seen others with the card with like 5...they may be PG though.

Still debating paying D&B 699 so they can get all mine reporting, I'm now up to 4 reporting. I'm almost tempted to charge up my Dell and report everything just so the $15000 reports

[Red1Blue]

Hi Eddie, I am planning on waiting couple of more months and then decide if I should pay D&B. For now it does not make sense as I do not have urgency. First Equity said they would give CLI in 3 months. I am sure Amex might give me a biz card too by that time.

By the way I called BOA about the application. Guess what, the answer is. We would not be able to approve the application at this time due to the present or past delinquecies. I am so upset. Why do the send the applicaiton as pre-approval and then pull the hard inq and then decline the application. I gave the BOA CSR what I have in my mind. What a waste of time and hard inq.

That is it no one is pulling my personal CR for biz applications. I'll look into locking all 3 CR's so no one would pull them with out my authorization. What a waste. I would like to keep my loyalty to those who gave me credit when I am down.

[Anonymous]

Guess I really did get lucky that they pull Transunion on that card.

First Equity sucks (my opinion)
First you can't get someone on the phone unless you go to the stolen card option.
My 4 calls to customer service...
1 - We have no record of your application (yet I received mail to send in my info)
2 - You'll have to call back tomorrow
3 - We already sent out a response to your application
4 - We have no record of an application, send in a new one
Then I get a letter...DUPLICATE FILE ON RECORD.

The absolute worst customer service known to man. Even worse than Transunion.

BOA seems to be generous on all their other things so I figure it's a good way in. Just wish the LOC was Transunion too and not Experian. Guess I'll try a recon.

I just got a very hard sell on the Creditbuilder...VERY HARD. He said he had my credit card on file and all he needed was my okay. Wow....

[Red1Blue]

Right now, I should focus on expanding the business and bring in more revenues than trying to get these cards. Good or Bad First Equity is the one who gave me the card when every one else declined my app's. Probably not the best, but serves my purpose. I have to wait another 6 months and see if I can get a good card. I might go ahead and pay for the D&B and get it updated any way. It is a biz expense for the end of the year. I might just do it and make it easier for my self to get a good biz card with out PG. Let me see what I decide in the next couple of days.

[Anonymous]

That is how you have to look at it but also have to look at the fact that you need the business credit BEFORE you truly need it. No one gives you anything if you need it, but when you don't need it, you get a lot.

Called Key's underwriting and I got turned down. Someone said they check Experian and not D&B which my Experian says I only have 1 reporting. I may have to buy the report and see what's going on...might have 2 files or something.