Bank of America False Denials

I know my data points are limited, but there is enough smoke to discuss the fire that is Bank of America false denials. It hasn't happened to us just once, or twice, but three times now. Bank of America was never been a beacon of good tech or systems, I mean look at their business bill pay system, but this is another level. Let me share our experiences with you and why that Bank of America denial isn't really the end of the world … or a denial at all.

Bank of America Premium Rewards Elite Applications

A while back I shared why I thought the Bank of America Premium Rewards Elite card was one worth considering if above Chase 5/24. It is best to wait until the end of the year to try for a triple dip of the credits on this card but that timeline didn't work for us. My wife and I both applied for this card and both of us were hit with a denial. I thought that was weird since Bank of America is usually an easy approval for us. We each have checking accounts with them, which helps, and other cards. We hadn't gone against any of their application rules either.

Calling Reconsideration

I got busy and didn't call the reconsideration line right away. I was being a bit lazy and waiting for the letter to see what the hold up was. About a week later I called to move some credit limit from one Bank of America business card to another. While on the call the rep said, by the way, congrats on your recent approval. I found this odd since I had never received an email and there was no new card in my account. She said it looks like they just need more info from you but it is conditionally approved on our end. A letter asking for me to call because they needed more information came the next day. What in the world is going on here?

Wife's Call Was Even Easier

I called in and got to a rep that needed to confirm some more info with me. It took about 10 minutes and then she came back to tell me I was approved. Next up, it was time to have my wife do the same thing (burning those wife points!). Her call was even easier, only needing to confirm she had applied for the card and she was approved within minutes.

I chalked this up as a random glitch and moved on with life.

Bank of America Alaska Airlines Card Offer

Over the weekend I shared news of an increased Alaska Airlines card offer, but it didn't last very long. This is another card that is best for people over Chase 5/24. If you are under 5/24 then go for the business card instead. I decided to put in an application since I may be visiting a buddy in Asia in a year and a half and these miles could come in handy for that.

I was a bit nervous on this one because I already had two personal cards with Bank of America, had recently grabbed the Elite card and also have four business cards with them. Unsurprisingly, I was hit with another instant denial. I called the reconsideration department the next day, ready to offer moving credit limits from another card over to get approved. This usually works with Bank of America, especially on the business side of things.

I told the rep that I was recently denied and was wondering if moving credit from another card would allow me to get approved. She informed me that I wasn't denied and that they just needed more information. She then asked for my zip code and disappeared for a few minutes. After the short wait she came back on the call to tell me I was approved.

What Is Going On Here?

What is going on with these Bank of America false denials? Going three for three on my recent applications playing out like this can't be random. I do believe issuers are being extra cautious right now with fraud. I am sure government oversight has something to do with it as well. That is my theory on why Chase is papering every business cardholder under the sun with those scary letters.

I think that Bank of America is sending more people to pending status than before, but their system isn't set up properly to inform the applicant of that. They are getting the you have been denied message and Bank of America is relying on the letter that is sent out to inform them otherwise. That is risky since many people just throw that away as junk mail without opening it. It is a horrible set up that likely costs some people approvals they would have otherwise had.

Bank of America False Denials: ToP Thoughts

If you get one of these Bank of America false denials, or just a denial at all I should say, have no fear. There is a good chance they just want to verify some things with you. This seems to be more focused on the personal card side of things, for now at least. My business card application around two months ago didn't have the same experience. I was actually denied for that and got it overturned by moving credit around from another business card.

Let me know over in the ToP Facebook Group if you have had a similar experience with these Bank of America false denials on your recent application.