changochulo Posted May 9, 2005 Report Share Posted May 9, 2005 I applied for a normal unsecured card from BofA and jsut today recieved a letter that I qualify for the $99/$500 card. As we speak im putting my check in the mail. Link to comment Share on other sites More sharing options...
Phelix Posted May 10, 2005 Report Share Posted May 10, 2005 Good call a nice card there Link to comment Share on other sites More sharing options...
Revco Posted May 10, 2005 Report Share Posted May 10, 2005 BofA is so weird. I applied for a CC and they checked EFX...I had a 766 when I applied. Denial for a $25 paid C/O from five years ago...great 128 month history otherwise. No offer for this elusive card.They then proceeded to send me four "pre-approved" regualr CC offers within a two month period. Ummmmm...???I had some cash laying around, so I applied for a regular secured. I'm half expecting a denial on that as it's been a week and a half since the 2nd CR check with no response/update/check cash. Been wanting to do business with BofA 'cause I've heard they're liberal with their CLI's on regular CC's. Link to comment Share on other sites More sharing options...
rising_score Posted May 10, 2005 Report Share Posted May 10, 2005 I really want to try for this card. I have fraud alerts on my accounts right now. Do I have to wait until they are off to apply? Link to comment Share on other sites More sharing options...
changochulo Posted May 10, 2005 Author Report Share Posted May 10, 2005 im not sure if you should wait. Its weird. They pulled my EQ report and I have a 606 score with them. Although I was denied the unsecured, one week later I get this offer. Does anyone know how long it needs to be secured in order to become unsecured? Link to comment Share on other sites More sharing options...
Tourniquet416 Posted May 10, 2005 Report Share Posted May 10, 2005 I really want to try for this card. I have fraud alerts on my accounts right now. Do I have to wait until they are off to apply?I think you do have to wait until the fraut alert is taken off. Link to comment Share on other sites More sharing options...
Champion80 Posted May 11, 2005 Report Share Posted May 11, 2005 I too got this offer after applying for credit, I paid the $99 11 months ago, if you stay current at the end of the year they unsecure it, then if you pay on time for another 6 months the credit line starts to go up.I spoke with Bofa's approval department a couple of times throughout the year just to get knowlege but they told me with the current handling of the account I will graduate. I am not sure if it is in fact 6 months after it is unsecured they consider CL increases. I would bet depending on my current credit, I will probably get more quickly. Not sure. Good Luck. Link to comment Share on other sites More sharing options...
changochulo Posted May 11, 2005 Author Report Share Posted May 11, 2005 Sounds good. Thanks a bunch Champ. Link to comment Share on other sites More sharing options...
kjunior Posted May 11, 2005 Report Share Posted May 11, 2005 I have a $129 unpaid collection account. i applied for boa and was denied due to the collection. Could i pay this off and reapply or go through PFB to get a reconsidered? Link to comment Share on other sites More sharing options...
changochulo Posted May 11, 2005 Author Report Share Posted May 11, 2005 I have one collection and one charge off on my report that BofA pulled and was still approved for this card. Link to comment Share on other sites More sharing options...
kjunior Posted May 11, 2005 Report Share Posted May 11, 2005 how old was your negatives? my one is about 3-6 months old. That's the only negative on my tu report in which is the report they pulled. Link to comment Share on other sites More sharing options...
changochulo Posted May 11, 2005 Author Report Share Posted May 11, 2005 Im sorry, i made a mistake. BofA pulled my TU report, which only has one charge off. The charge off is about 5 years old. Link to comment Share on other sites More sharing options...
kjunior Posted May 11, 2005 Report Share Posted May 11, 2005 I wonder i pay collection if they will reconsider? They pulled my TU as well? Link to comment Share on other sites More sharing options...
changochulo Posted May 11, 2005 Author Report Share Posted May 11, 2005 Im not sure man. My charge off is not paid, they still gave it to me. Link to comment Share on other sites More sharing options...
Champion80 Posted May 11, 2005 Report Share Posted May 11, 2005 Anytime you are initially denied for credit, I would always talk for the reconsideration. I call every account that I have applied for and gotten or got denied and speak with the approval departments to get a good picture of why they denied me or approved me.Generally, each creditor has their own algarythm they use with the FICO report. So there requirements are slightly different from another creditor and so forth. What I have found out is that most CC companies have a red line, and if it comes up above you are approved, below you are not. As far as Income, the creditors actually have no way of confirming your income, they have no system that can do that, they say they can tell from watching your payment history but this does not give them an accurate picture of your income. So your limit is based on that income, and also telling them your income is $35,000 and you already have $12,000 in Open Credit, they may also deny you because if they gave you more credit you could go deep into debt. So I guess what I am trying to tell you is the income is used by creditors to extend the CL. If you have too much open credit and a low income they will react accordingly. Link to comment Share on other sites More sharing options...
rising_score Posted May 12, 2005 Report Share Posted May 12, 2005 I just called TU and had them lift my fraud alert. Then I applied for a BofA card online, and of course was rejected. I will let you all know if I get the offer for the $99/$500 card. Link to comment Share on other sites More sharing options...
Phelix Posted May 12, 2005 Report Share Posted May 12, 2005 GL got my fingers crossed for ya Link to comment Share on other sites More sharing options...
Average Joe Posted May 12, 2005 Report Share Posted May 12, 2005 My wife and I both applied at the same time for the BOA card. I had an unpaid charge off. My wife has NO credit history at all in this country (She is from South Africa). I was turned down because of the CO - even for a fully secured card - but my wife was approved for the partially secured card! I also called BOA and asked for reconsideration, and I was denied again because of the unpaid CO. I was told by the rep that when the CO was taken care of, I would be approved. It appears that if you have any kind of unpaid CO, then you will not get any love from BOA. EVEN for a fully secured card.Joe Link to comment Share on other sites More sharing options...
rising_score Posted May 19, 2005 Report Share Posted May 19, 2005 I just called TU and had them lift my fraud alert. Then I applied for a BofA card online, and of course was rejected. I will let you all know if I get the offer for the $99/$500 card.In today's mail I received the offer for the $99/$500 card. I am on my way to the postoffice to mail my check! Link to comment Share on other sites More sharing options...
Champion80 Posted May 19, 2005 Report Share Posted May 19, 2005 Thats great..I have 2 weeks for the 1 year to finish..Good luck. Link to comment Share on other sites More sharing options...
cjortiz Posted May 25, 2005 Report Share Posted May 25, 2005 which card did you guys apply at Bank of America? Link to comment Share on other sites More sharing options...
rising_score Posted May 25, 2005 Report Share Posted May 25, 2005 which card did you guys apply at Bank of America?I just applied for one of the rewards card. I don't remember which one. I knew I would be rejected, and was hoping for the $99/$500 card. 8 days after the rejection, I received the offer for the $99/500 card in the mail. Link to comment Share on other sites More sharing options...
cjortiz Posted May 25, 2005 Report Share Posted May 25, 2005 Thanks you rising_score appreciate it for your response! Link to comment Share on other sites More sharing options...
changochulo Posted May 26, 2005 Author Report Share Posted May 26, 2005 Rising_score, did you already mail in your check? I mailed mine about 2 weeks ago, but my check hasnt been cashed yet. Any one have ideas why it hasnt been cashed? Link to comment Share on other sites More sharing options...
ThePeacock Posted May 26, 2005 Report Share Posted May 26, 2005 Took us 3 weeks to get ours. I wouldn't worry. Wouldn't hurt to call and check on it. They started reporting on EQ before we even got the card. Link to comment Share on other sites More sharing options...
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