- Posts: 2
- Joined: Wed Dec 11, 2013 1:38 am
- Location: Denver
Hey all, noob here!
If anyone can spare a hot minute, I would like to share a frustrating experience and hopefully get some follow up advice..
I recently applied for the BOA Travels reward card because I thought I might as well start taking advantage of better rewards, particularly with travel. I was denied, despite my FICO score of 790. A week later I received a letter in the mail from BOA stating that I was denied due to insufficient "credit references" and "established revolving accounts". Bummer! I thought I was a shoo-in with that score! But that's okay, I got over my rejection soon enough, but I'm still determined to take advantage other great rewards out there (my WF 1% cash back credit card is lame) if you guys think it's still possible.
A little about my background: I'm 29. Have used two credit cards since 2002. One was my own (Visa, issued by my bank and currently still use), the other one was paid for by my parents (AMEX) but only for emergency/special situations, which I haven't used in years. As indicated by my FICO score above, I have done an excellent job managing my debt/credit for 11 years. At this point, I'm not sure if I should bother applying for a different travel rewards card (eg. Barclays Arrival) and could very well get rejected again, which I understand will hurt my credit score. Or will I have to scale back and apply for a less luxurious rewards card (eg. gas card, shopping card) to build up my credit background first before attempting a travel rewards card again? And if so, how long should I wait before applying again (I applied for BOA Travels a couple weeks ago)? Any feedback would be awesome!