"New BofA American Express Reject."
Accelerated Rewards® Card Review
Written by: bgregs on 2008-07-24
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
bgregs's review: 
I applied for this card today (7/24/08) with a EQ score of 719, and a 12 year credit history. I thought I stood a pretty good chance of obtaining approval. I may have been overzealous in my endeavor since I have had several inquires and new credit over the past year (4 new accounts - Citi cash rewards Mastercard Cl 2800, Home Depot CL 5000, Best Buy CL 2500, and ExxonMObil 750). As many of you know, it is hard to rebuild your credit history once you drove it into the ground and I have worked very hard over the years to pull myself out of the credit dungeon, and wanted to reward myself with the top tier AMEX. I guess in retrospect and looking at it as I write this I should have waited another year or so to apply and really limited any more credit inquires. I guess what I am looking for is a shoulder to cry on. I feel like I shot myself in the foot now for no good reason with a hard inquiry on my report. Does anyone know if you are declined for one card, can you ask them to use the information from your application and fit it to a card you are eligible for with that bank? I just don't want to waste the inquiry and have nothing to show for it. Thanks.
I applied for this card today (7/24/08) with a EQ score of 719, and a 12 year credit history. I thought I stood a pretty good chance of obtaining approval. I may have been overzealous in my endeavor since I have had several inquires and new credit over the past year (4 new accounts - Citi cash rewards Mastercard Cl 2800, Home Depot CL 5000, Best Buy CL 2500, and ExxonMObil 750). As many of you know, it is hard to rebuild your credit history once you drove it into the ground and I have worked very hard over the years to pull myself out of the credit dungeon, and wanted to reward myself with the top tier AMEX. I guess in retrospect and looking at it as I write this I should have waited another year or so to apply and really limited any more credit inquires. I guess what I am looking for is a shoulder to cry on. I feel like I shot myself in the foot now for no good reason with a hard inquiry on my report. Does anyone know if you are declined for one card, can you ask them to use the information from your application and fit it to a card you are eligible for with that bank? I just don't want to waste the inquiry and have nothing to show for it. Thanks.
7 Comments
Comment 1 by bwebb1978
More Info 
on 2008-07-24
How do you know you application was declined. I applied for this card a few days ago, and got the 30 message. They pulled Experian when I applied, then two days later they pulled Transunion, and I still have not received a decision, and a new account has not showed up in my BOA Online Banking, so I am thinking I have been rejected but I don't understand the second Credit Bureau pull? If I am approved will the new account show up in my Online Banking. I have checked the BOA Application status and it can not find my info, it tells me to check my spelling etc. I am lots of inquires and new accounts so I am guessing I am not approved but I don't appreciate the Second Credit Pull. Anyone Understand this?
on 2008-07-24 How do you know you application was declined. I applied for this card a few days ago, and got the 30 message. They pulled Experian when I applied, then two days later they pulled Transunion, and I still have not received a decision, and a new account has not showed up in my BOA Online Banking, so I am thinking I have been rejected but I don't understand the second Credit Bureau pull? If I am approved will the new account show up in my Online Banking. I have checked the BOA Application status and it can not find my info, it tells me to check my spelling etc. I am lots of inquires and new accounts so I am guessing I am not approved but I don't appreciate the Second Credit Pull. Anyone Understand this?
Comment 2 by bgregs
Reply To Bwebb1978 on 2008-07-24
Hi Bwebb1978,
I called them over the phone to confirm they received my application and they told me I was not approved. The online submission failed while it was processing my request. I am not sure but I thought BofA pulled from EQ. It may be different for the AMEX BofA card though. I have heard that AMEX themselves may pull from a couple of CB's.
on 2008-07-24 Hi Bwebb1978,I called them over the phone to confirm they received my application and they told me I was not approved. The online submission failed while it was processing my request. I am not sure but I thought BofA pulled from EQ. It may be different for the AMEX BofA card though. I have heard that AMEX themselves may pull from a couple of CB's.
Comment 3 by mrrob
Sorry on 2008-07-24
Just wait a few months and try again. Eventually you will get the card you want
on 2008-07-24 Just wait a few months and try again. Eventually you will get the card you want
Comment 4 by mark
7-10 Days Message on 2008-07-24
I also got the 7-10 days message when I applied for this AMEX card from BofA
I thought I was denied.
got a call from them after a week, to verify some info, and then they opened my account with an initial limit of $5,000.
what's funny about Bank of America..
they always deny my request for a credit limit on my Platinum VISA with a Credit limit of $700.
after a week I decided to apply for this card..
sometimes, you just need to ask... And hope for a good answer
on 2008-07-24 I also got the 7-10 days message when I applied for this AMEX card from BofAI thought I was denied.
got a call from them after a week, to verify some info, and then they opened my account with an initial limit of $5,000.
what's funny about Bank of America..
they always deny my request for a credit limit on my Platinum VISA with a Credit limit of $700.
after a week I decided to apply for this card..
sometimes, you just need to ask... And hope for a good answer
Comment 5 by brian1
Reply To BGregS on 2008-07-25
You have nice scores but you sufficient income to cover all your limits. This is a premier BoA card so you need to meet very strict standards, ie, scores and income. I don't know your income situation nor am I asking about it but I have a young cousin who has great scores 740+ as he piggy back my uncle as a authorized user but cannot get an Amex card or a limit over 1k because he's on an entry level salary.
on 2008-07-25 You have nice scores but you sufficient income to cover all your limits. This is a premier BoA card so you need to meet very strict standards, ie, scores and income. I don't know your income situation nor am I asking about it but I have a young cousin who has great scores 740+ as he piggy back my uncle as a authorized user but cannot get an Amex card or a limit over 1k because he's on an entry level salary.
Comment 7 by tynece
Bgreg on 2008-08-09
The minimum limit for this card is 5000.00 Perhaps you can get some of your current lenders to increase you so they see how you handle a higher limits first.
on 2008-08-09 The minimum limit for this card is 5000.00 Perhaps you can get some of your current lenders to increase you so they see how you handle a higher limits first.
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Disclaimer: This content is not provided by Bank of America®. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Bank of America®. Review content is powered by Finance Globe.
