Originally Posted by
PumpkinSmasher
Looking for some advice...
I have the biz card myself and received instant approval (I do have a legitimate business however). My SO applied for the biz card and she received an "under review" notice. Since she didn't have legitimate business, she did not bother with reconsideration.
She did get a letter in the mail yesterday with the following...
"We need additional information to process your request for a small business credit account.
To proceed with your request, please provide us with the following additional information:
Your complete business physical address (Federal law requires all financial institutions to obtain, verify, and record information that identifies each entity which opens an account). Any of the following documents in the company's name would be acceptable: organizing documents such as articles of incorporation, articles of partnership, articles of organization or certification of incorporation."
And yes, the bolded was bolded in the letter. Interestingly though, they do give an option to submit this information by phone? I'm not sure how that would work though. If it's helpful, she included "$0" as her revenue on her application. Also worth noting that my SO received instant approval on the personal AS card (at the same time this application was filed).
Has this situation happened to anyone before? Any advice or suggestions on how to receive an approval in this scenario?
In case anyone was curious, I finally have an update on this. My S.O. and I decided to write a letter (email) and basically just stated that she is a sole proprietor and that because this is a new business, none of those requested documents (yet) exist. We went on further to say though that if they are concerned about verifying the address, they could look at her personal AS account (we provided the last 4 digits and noted that the address was the same) and we also included a copy of our electric bill in her name as well to show proof of ownership of the address just to give them an extra bone.
While she hasn't received anything directly back from BoA (yet), we did note on her online account yesterday that a new business account is now showing! So it appears to have worked.