Posted by sirtheta on March 31, 2017
Credit Cards PSA Bank of America Credit Card Applications

Published on March 31st, 2017 | by sirtheta


PSA: A Word of Warning About Bank of America Credit Card Applications

A concerning comment was left on our article about the new Merrill+ link last night, and it mirrors some recent data points that have popped up on r/churning. While I don’t want to unduly worry you, our readers, I think it’s worth discussing.

Reader Darv:

Unfortunately, some folks are about to find out soon that their cards were “approved in error.” Particularly those who tried to combine apps into one pull.

Wait for this developing story.

Now – anybody can say anything on the Internet. Here’s why I choose to take this at face value:

  1. Bank of America (BOA) has recently instituted a limit on the number of credit cards, for some people, and closed accounts that have been open for a lengthy period of time.
  2. There are multiple recent reports of BOA refusing to approve a business card unless you put $1,500 in a CD with them. (See this reddit thread for an example.)
  3. There are multiple recent reports of BOA closing cards after approval due to the card being approved in error. (See this reddit thread for an example.)

Taken together, these reports indicate that BOA is an issuer in flux and is in the process of implementing new rules. And given how freely BOA was dishing out cards, some change was probably needed on their part. (Of course, if BOA is having problems, the stupidly obvious fix is to not approve people for seven cards in one application spree (FrequentMiler link), since they are the lone issuer that rewards people for super aggressive credit seeking at one issuer.)

For now, be a little more careful with your applications – especially multiple ones – until more data points roll in. You probably want to limit yourself to at most 2–3 BOA credit card applications at once, and maybe just 2.

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Clear article and credits for linking the actual culprit who killed the deal. That article alone is the sole reason for boa cracking on multiple apps and more than 4 cards.

similar to MMS killing the alaska deal. This article was more damaging

Personally I don’t think FM is to blame, lots of people were applying for a lot more than that before his post and it was always going to die.

yah dont blame him. He constantly poops in the punch bowl but no need to smear him with this. Its coincidence that he posts and stuff dies.

You are correct on CD for New Alaska buss cards. I had to put in $5k in a CD for a year to get 30k miles in bonus becaz credit limit is directly related to amout you put in CD and $1500 is minimum they want u to put.
To get Alaska 30k miles it requires you have to have min $5k CC limit.

Alaska Business card doesn’t require $5k. That’s only the personal card. I put down $1.5K, got approved for $1,500 credit line with 30k bonus.

Your my DP hero. My wife got that offer and i wasnt sure. Thanks! Will do this!

I quit using a bank of America credit card after they reduced my credit line below my current balance in 2009 and charged me all sorts of fees for being over the limit. Of course I handled it and got them removed, but it was undue stress while I was on maternity leave and had planned to carry a balance for a couple of months! These practices are exactly why I moved all of my business!

This is a funny post on the reddit forum, but might just be the start of something bad…

I mentioned on Reddit that I applied for the Merril Visa+ and it went pending. A day later I called recon and was denied for insufficient balances with them. I had no prior BoA or Merril relationship (no checking account, no credit cards, and no Merril investments). I hadn’t read previous comments stating this would be a reason for denial, so I found that reason fairly interesting.

I got the CD notice after applying for two business cards in one day. First cards with BoA. I reconned them both and got them without the CD. So that part isn’t concerning to me. I think it’s almost an indication that you are on the edge and are likely to be approved on recon if you can answer a couple of questions about your business.

Just glad on got on wagon while i was able.. MLB credit cards x 8 at $200 a piece were really sweet. Realistically all good runs come to an end and it was obvious that BOA will eventually catch on.

You probably played a part in it coming to an end.

Yes correct me and many man others…
Don’t hate, learn. When good things come around jump on the wagon while you are able.

what to learn here, MLB credit cards x 8?

TIL pigs get fat, hogs get slaughtered.Just wish they’d kill all accounts for folks that applied for an ungodly number of cards. Would do us all some good.

My DPs:

3/29 AM – applied MERRILL+, approved in an hour with 12K limit
3/29 PM – applied Travel Rewards, instant approval with 9K limit

At the time of approval, had 2 Credit Cards already with BofA – card1 with 10.5K limit and card2 with 6K limit. I only noticed on 3/29 evening that 3.8K from card1 was used for Travel Rewards 9K approval. So, moved all of 6K from card2 to card1 and closed card2 on 3/29 evening.
Note: card1 is Travel Rewards too & card2 was MLB.

Cards appeared in online banking 3/30.

Called in to Customer Care on 3/30 and added authorized user for MERILL+ and Travel Rewards.

I applied for Alaska and Merrill+ cards yesterday.. BoA rejected both the applications.

Those people that have successfully converted their cards to better balance rewards cards and had more than 2 such cards already when they called to convert, what did you tell them your reason for getting another BBR?

They didn’t ask why you need another one when you already have 2?

I called several times trying to convert but was told specifically BBR is not an available option… did anyone try and succeed recently (within the past 2 weeks)?

Applied yesterday to the merrill, went pending and called and was told too many inquires -18 plus. Asked them to reconsider since I just deposited 20k plus. They approved it hours later. Went to apply for the Alaska card, went pending, and then denied for too many inquires. Should I call recon or chill out?

I would just chill out. You’re pushing too hard.

Why don’t they just call it a secured credit card if they’re requiring you to lock up money with them before issuing credit? That change is the most galling to me.

Actually, they do. SO and I both applied for the Alaska Business card in one day back in December. Both went to pending. His was eventually approved, mine was declined. I recon’d and they said there’s nothing they can do about it due to “lack of credit history”, but they will send me a letter in the mail about an opportunity to get a “secured business credit card”. When the letter showed up, it said put down $1.5K on a CD and get approved for the “secured card” without another hard pull.

in early January I have applied for an Alaska business card and got automatically approved, then I have proceeded to apply for 2 personal cards on the same day – both went into pending. Then BofA sent me a letter saying they were worried about identity fraud so they canceled even the original approval for the business card. When I called BofA the rep blamed a computer glitch and said it all happened automatically and there is no note on my account about the fraud. He said they would remove the credit pull but i have to reapply for the cards i need since all my applications were canceled.

Hi – This is still happening. Do you recall how long after you applied that the card was cancelled?

( I’m putting together data points to help others for for how long they need to wait after applying to put use the card and be safe that they’ll keep their points. )

I applied a couple of months ago for the Merrill+, Alaska Personal and Alaska Business. I was auto approved for both Alaska cards and approved for the Merrill after a recon call two days later. Then, when I didn’t receive my Alaska Business card in the mail after two weeks I called to inquire about the status. They told me that they canceled the app because they thought someone was trying to steal my identity by applying for 3 cards in 1 day. I asked them why they didn’t cancel the other two in that case, and I couldn’t get a strait answer. I also asked if they could reopen the app and use the credit report they had already pulled. After speaking to a supervisor I was told that I would need to reapply. Watch out for BoA’s tricks

BoA closed all my cards recently. Does it mean I am blacklisted for life?

What reason did BOA give you for closing all your cards?

On a side note, the general consensus for best results before applying for new BOA credit cards is to lower the overall credit line and limit the number of existing cards account to between 1-3 accounts.

Mint shows my Merrill+ that was approved Wednesday, including its credit limit, but it doesn’t show when I log into my BOA account.

… does that mean BOA has closed the account?

I was approved for the Merrill+ card this morning, but it hasn’t shown up in Mint or on BoA’s site yet. I’m curious how long it usually takes.

I think it showed up on BoA in a day or two when I was approved last month. You can also check the application status page:

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