Originally Posted by
Richard Berg
I've had 3 no-AF cards (Cash Rewards, Travel Rewards, Merrill+) open for a few years, with small-dollar spend once or twice a year to keep them alive. Plus the personal Alaska.
Speak of the devil, I just got the request for business documents, legal structure, audited financials, etc. So I guess the app is still alive! I don't have any of those doc -- I applied as sole proprietor / $0 income / founded Sept '19 -- so will skim the thread for ideas or just call recon and explain. I do have a legit (unincorporated) side business I can talk about if they press.
Update: I spoke to a CSR back in September who said my personal income tax returns would be enough. I'd filed an extension, so I waited until early Oct and sent my final 2018 + 2017 returns to BofA just after filing with the IRS.
2 days later, they pulled my credit once again (so much for having low INQs on TU!). Then yesterday, I got a letter in the mail denying me once again. Stated reasons:
- Your business has not been open for a sufficient length of time.
- Your have limited deposit and investment balances with us and/or our affiliates.
As noted earlier, I have several BofA personal cards that get minimal keep-alive spend. I also have a checking account where I xfer rent once a month but otherwise is mostly empty.
If they'd processed my app when I first applied, things would've looked much rosier: fewer INQs and new accounts for one, since I applied for (and got) some Citi cards after the first BofA denial. I also had 7 figures over at Merrill Edge. But I've been moving my funds away from BoA which I guess they don't appreciate.