Bank of America Application Process

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Whatamuji
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Bank of America Application Process

Postby Whatamuji » Thu May 28, 2015 1:19 pm

I was wondering what people's experiences were with the Bank of America application process. I filled out 2 applications, one for the Cash Rewards regular card and then a week later for the Student version. They're both pending review. Is this a common occurance with BoA? Any possible chance of approval?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k


cliffs
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Re: Bank of America Application Process

Postby cliffs » Thu May 28, 2015 2:31 pm

I applied for the student Cash Rewards some months ago and also got the pending review message. They called 3 days later to ask some questions and then approved me on the spot.

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obxfisherman
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Re: Bank of America Application Process

Postby obxfisherman » Thu May 28, 2015 2:33 pm

I'm not sure that it is a common occurrence, but then again it isn't that rare of a thing. If you have a thin credit card file, I could understand the pending review status more. Does it just flat out say "pending review" or does it say we will notify you by mail? My experience with BoA Credit Card was rather pleasant. I applied for their Americard Plus or whatever, that has no rewards what so ever, and I was told i'd receive reasoning in the mail in 7 to 10 days…aka I was denied. However this was mainly due to too many HPs so I called their Recon line and a nice lady reviewed my credit file and boom approval. WIthout knowing more about your credit history it is difficult to give an opinion regarding possible chance of approval.
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Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

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Whatamuji
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Re: Bank of America Application Process

Postby Whatamuji » Thu May 28, 2015 2:54 pm

I've got a couple of credit cards (Discover IT, Amazon rewards, Amazon store card, CapOne quicksilver) but my oldest it account is turning 10 months old next month. No late payments and extremely low credit Utilization. I recall that when I applied for the Cash Rewards regualar card last week it was a "We'll notify by mail in 7-10 days". But when I applied for the student card the day before yesterday they emailed me saying they are reviewing the application and I can check the status online. I also applied for the secured version of the card (their counteroffer to the regular card). But did not receive an email confirming that the application was in review. However when checking the status it does show the application in review. It did say in the application itself that it would take a few days to verify the information submitted. Is there a chance I'm gonna end up with the student card and a secured card?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

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obxfisherman
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Re: Bank of America Application Process

Postby obxfisherman » Thu May 28, 2015 3:16 pm

Whatamuji wrote:I've got a couple of credit cards (Discover IT, Amazon rewards, Amazon store card, CapOne quicksilver) but my oldest it account is turning 10 months old next month. No late payments and extremely low credit Utilization. I recall that when I applied for the Cash Rewards regualar card last week it was a "We'll notify by mail in 7-10 days". But when I applied for the student card the day before yesterday they emailed me saying they are reviewing the application and I can check the status online. I also applied for the secured version of the card (their counteroffer to the regular card). But did not receive an email confirming that the application was in review. However when checking the status it does show the application in review. It did say in the application itself that it would take a few days to verify the information submitted. Is there a chance I'm gonna end up with the student card and a secured card?



Since you applied for both it is possible yes. However, if I remember correctly odds for secured card approval are high, because you're fronting the money not them. Haven't hard a secured card for a few years so I don't exactly remember. With having already applied for the 2 other cards why even apply for the secured card? Just curious. Is it just to have more credit exposure through different companies? If one was a "we will notify you within 7-10 days", it may be worth calling the credit reconsideration line to see if you can get it approved. The only issue is your length of credit history, assuming your utilization is low. Maybe number of HPs could be an issue….since they don't drop off for 2 years.
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K

Vermonster
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Re: Bank of America Application Process

Postby Vermonster » Thu May 28, 2015 9:53 pm

Only way to know is to call them. Most of the time they need to confirm some info. Best to call them and get that sorted out right away rather than wait for the letter telling you to do the same.
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Whatamuji
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Re: Bank of America Application Process

Postby Whatamuji » Fri May 29, 2015 12:22 am

[/quote]Since you applied for both it is possible yes. However, if I remember correctly odds for secured card approval are high, because you're fronting the money not them. Haven't hard a secured card for a few years so I don't exactly remember. With having already applied for the 2 other cards why even apply for the secured card? Just curious. Is it just to have more credit exposure through different companies? If one was a "we will notify you within 7-10 days", it may be worth calling the credit reconsideration line to see if you can get it approved. The only issue is your length of credit history, assuming your utilization is low. Maybe number of HPs could be an issue….since they don't drop off for 2 years.[/quote]


The reason for applying so many times is rather dumb on my part. I applied for the regular card not knowing that there was a student version. So when I applied and received the counter-offer of the secured card, I didn't jump at it. I then thought about the card for a week and decided I'd give the secured card a try. When I navigated to the BoA website I expected the "Pre-qualified offers" to be rather large and not hard to miss like I have seen on chase's and Capital One's websites. Well I missed it and in my haste found the student version. Did some very brief research on it (i.e. what kind of credit score is needed) and figured I'd give it a go. Applied and then got the whole "we'll notify you in 7-10 days". I instantly thought "crap, I just got denied again!" so I then took another look around the bank's website and found the "pre-qualified offers". And applied for the Secured card which is 99/500 version. In hindsight I wish I had just waited to get a response for the first application before applying for the student card. Won't make that mistake again.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

MemberSince99
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Re: Bank of America Application Process

Postby MemberSince99 » Fri May 29, 2015 6:02 am

Not necessarily a denial. I've gotten the same message and was approved several days later. Could go either way.

The cards were reporting to the bureaus before I even had them.

As mentioned if you want to find out, just call them.

flan
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Re: Bank of America Application Process

Postby flan » Fri May 29, 2015 7:34 am

MemberSince99 wrote:Not necessarily a denial. I've gotten the same message and was approved several days later. Could go either way.

The cards were reporting to the bureaus before I even had them.

As mentioned if you want to find out, just call them.


I got that message, and a few minutes later, got a notice from CK that a had a new account. It took BoA a week to tell *me*, though.

Whatamuji
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Re: Bank of America Application Process

Postby Whatamuji » Fri May 29, 2015 2:03 pm

Yeah it's a bit odd as I have checked my credit scores for all 3 bureaus and no new inquiries have appeared. Even CK shows nothing.

Update: So I called the Application Status number and got the following responses

Application 1: Regular Card - Denied
Application 2: Student Card - Pending expect response via mail in 30 days.
Application 3: Secured Card - Pending expect response via mail in 30 days.

So that clears up all the confusion I had as to why there are no new inquiries.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k



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