"Denied :("
Sallie Mae® Platinum Plus® MasterCard® Credit Card with WorldPoints® Review
Written by: kellbell on 2008-10-16
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kellbell's review: 
I have never missed a beat on my student loans through Sallie Mae. I received numerous offers for this card and I applied for it.
I was denied due to 6 year old delinquencies that remained on my report. At the time, I was sub-prime with an Experian FICO of 644.
I don't need the credit line. I think I was just testing to see if Bank of America and FIA Card Services hold true to their "higher standards" and they did.
Maybe I'll apply again when I enter the 700 club...
I have never missed a beat on my student loans through Sallie Mae. I received numerous offers for this card and I applied for it. I was denied due to 6 year old delinquencies that remained on my report. At the time, I was sub-prime with an Experian FICO of 644.
I don't need the credit line. I think I was just testing to see if Bank of America and FIA Card Services hold true to their "higher standards" and they did.
Maybe I'll apply again when I enter the 700 club...
6 Comments
Comment 1 by hjm331
Credit Climate 
on 2008-10-16
Now is probably the worst time to go on an app spree. All CREDITORS have raised their standards when it comes to extending credit, not just BOA. Wait until things to start getting better and try again. Have you tried calling them and asking for a recon?
on 2008-10-16 Now is probably the worst time to go on an app spree. All CREDITORS have raised their standards when it comes to extending credit, not just BOA. Wait until things to start getting better and try again. Have you tried calling them and asking for a recon?
Comment 2 by thomas1
BOA on 2008-10-17
I agree with Hjm, most top issuers have really rolled up the red carpet on approvals with the economy the way it is... I suspect in 3-6 months the credit market will level out again once some money is pumped into that side of the banks.
Right now, they are extremely nervous and are slashing credit limits left and right.
Wait 6 months, check your scores and inquiries, and go in again.
on 2008-10-17 I agree with Hjm, most top issuers have really rolled up the red carpet on approvals with the economy the way it is... I suspect in 3-6 months the credit market will level out again once some money is pumped into that side of the banks.Right now, they are extremely nervous and are slashing credit limits left and right.
Wait 6 months, check your scores and inquiries, and go in again.
Comment 3 by shark6
Agreed- Hold Of The Ap Sprees on 2008-10-17
I just read a report that BOA had already written off over a billion in credit card loses this quarter. They were doing worse than CITI so I suspect that BOA will not be granting many approvals to folks under 700 FICO.
on 2008-10-17 I just read a report that BOA had already written off over a billion in credit card loses this quarter. They were doing worse than CITI so I suspect that BOA will not be granting many approvals to folks under 700 FICO.
Comment 4 by meya
So Sorry on 2008-10-17
I agree with everyone, just hold off for a minute until things get better. I was never in default with my current student loans which are now in deferment and I was just denied through Citibank due to available debt to income. I can clearly understand the denial for an old debt, but they did not see any debt on my Experian report.
Since the debt is 6 years old, I would wait until it falls off before applying again. Believe it or not, some debts that are 6 years old tends to fall off before the actual date of removal. I have had this happen to me and I have heard other members here say the same thing.
Don't give up, I know the feeling of NO, but members here has comforted me enough to fight for a reconsideration. I want you to feel the same comfort because it is here for you to.
on 2008-10-17 I agree with everyone, just hold off for a minute until things get better. I was never in default with my current student loans which are now in deferment and I was just denied through Citibank due to available debt to income. I can clearly understand the denial for an old debt, but they did not see any debt on my Experian report. Since the debt is 6 years old, I would wait until it falls off before applying again. Believe it or not, some debts that are 6 years old tends to fall off before the actual date of removal. I have had this happen to me and I have heard other members here say the same thing.
Don't give up, I know the feeling of NO, but members here has comforted me enough to fight for a reconsideration. I want you to feel the same comfort because it is here for you to.
Comment 5 by colonative
KellBell on 2008-10-18
If I recall correctly, you have been on a mad credit spree this year. You might need to hold off for a year or more to let the derogs and inquiries fall off.
on 2008-10-18 If I recall correctly, you have been on a mad credit spree this year. You might need to hold off for a year or more to let the derogs and inquiries fall off.
Comment 6 by charonh
Sorry!!! on 2008-10-22
So sorry for you KellBell, I wouldn't mind having this card since I owe Sallie Mae sooooooooooo much money, but I wouldn't dare apply for it right now with my high utilization across the board. I used to have a BOA Platinum Plus card and my scores have never been 700 or higher. Mine were between 670/686. Of course, I've had personal accounts with them for years, maybe that had something to do with it. I don't hardly keep any money in them, though, LOL. What are the rewards like for this card? I couldn't find it on BOA's website and I only saw it one time when I was making a student loan payment.
on 2008-10-22 So sorry for you KellBell, I wouldn't mind having this card since I owe Sallie Mae sooooooooooo much money, but I wouldn't dare apply for it right now with my high utilization across the board. I used to have a BOA Platinum Plus card and my scores have never been 700 or higher. Mine were between 670/686. Of course, I've had personal accounts with them for years, maybe that had something to do with it. I don't hardly keep any money in them, though, LOL. What are the rewards like for this card? I couldn't find it on BOA's website and I only saw it one time when I was making a student loan payment.
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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.
