Hello, this morning I applied online for a Bank of America Visa gold card and received a denial. Reasons were basically too new credit,they pulled TU. My score on TU is 734 and my FICO from Equifax is 674. My credit history began in Jan of this year with a loan through SKY BANK (OHIO) for 5300. I have 10 perfect payments and since then I received a CAP 1 partial secured VISA GOLD July of 2002 and I am a joint cardholed on my fiances Target Visa card cl 500.00(13 dollar balance). I also have a secured loan through my local credit union(secured from my savings) for 1300(furniture loan bal is 980. All 4 accts have positive history and no negatives are reported on my credit report, the problem is my score is high, but length of time of accts is not very long. Also Cap 1 does not report credit limits either, which makes my avail. credit and bal ratio appear higher which was my second denial reason from BOFA. I called reconsideration line and spoke with a Mary Loman, and she said she would turn it over to a personal banker to review and I would know within 48 business hours. I wonder if there is a chance that I will be able to get the card--I dont really care what limit or interest as I pay full each month. I just need a card that will report my limit--Target does but I am a joint cardholder, and I would like to get my own card; and I really did not want to put up a security deposit, but I chose BOFA because they seem to have a really good reputation. If I am denied again through reconsideration is it possible to Planet Feedback and explain my situation? Perhaps they will issue a card with a low limit per se 500.00 which would at least help my ratio a bit. Any suggestions and answers would greatly be appreciated. Thank You,
I was declined in Sept and when I questioned the CSR I was told that they look for at least 3 accounts with perfect pays for at least 2 years. They do offer a secure card and it can be converted in 12 MO to an unsecured card. The only draw back is that is reports secured on all three CRAs.
I didn't realze they looked for 2 years of payment history. I don't know what your reconsideration chances are but I wish you luck!!! As an aside, have you tried American Express? You could possibly try one of their credit cards (BLue, Hilton HHonors, Starwood etc) I'm pretty sure you'd have better luck that way.
Just a tip, search the board for Bank of America contacts. There is an email address for the New Card Fulfillment Account Manager. If anyone can approve you, she would be the person. (I am not saying that she is guaranteed to give you a card, but if you explain why you feel you should receive the card, she will listen.) She approved me for $3000 after being denied through credit card services. I believe her name is Robin Bricklin. (not sure if that is correct spelling.) Again, try her if you are denied after reconsideration. Hope this helps!
Amex requires 2 or 3 cards with 2 years perfect pay history as well. Don't apply for amex at this point.
I applied and got turned down also for the gold card. I did a search on the board to see if I could find the person to email in account management. I couldn't find a contact. Does someone have the info or a contact at Bank of America they could provide for me? I would appreciate it. I received a pre approval with my denial for a secured gold card. I basically want to use the balance transfer offer to consolidate a few of my sub prime cards. The didn't deny me for low fico they denied me for utilizing 75% of my credit lines. I have 2 cards one Eddie Bauer Gold MC, and a Chase card I want to consolidate. They did pull TU, I want them to pull Equifax which is my second best report. Any suggestions?
First, I would pay your cards down some, and offer to fax over something showing your current balances, then explain that you were searching for a good card to replace or pay down high interest cards. I will post the email address of the lady that I was contacting when I go to work tomorrow. I found the contact the information on this board. It was a VERY old post.
