Bank of America WorldPoints Platinum Plus® MasterCard® Credit Card Review
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Written by: theo on 2007-08-08

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theo's review: Callout Comment After an online chat with a BOA rep and telling him what my current FICO scores were, he encouraged me to apply for this card. That was on 7/23. I applied and the response was they could not instantly approve me, but would have to verify more information. I thought this process would take three business days, so I called last week. The automated message stated that the process would take 10 business days. When I logged on to the BOA site a few minutes ago, they said they were unable to approve my application. Here is the quote, "How We Reached Our Decision

Your application was processed using a credit scoring system. The principal reason(s) for our decision were:

* Denotes reasons outside of the credit scoring system or determined during an additional review of your file by a credit analyst. In reaching our decision, we relied on information contained in the consumer credit file from the consumer credit reporting agency:

701 Experian Parkway,
P. O. Box 2002,
Allen, Texas 75013,
1 888 EXPERIAN (1 888 397 3742)

The consumer credit reporting agency did not make the credit decision and is unable to provide you with the specific reasons for our decision.

Please contact the credit reporting agency for instructions on obtaining a free copy of your credit file. If you provide the agency with a copy of this letter within 60 days, they will send you a free copy of your consumer credit report. You have the right to dispute the accuracy or the completeness of any information in your report using the dispute resolution procedures accompanying your report.

As a result of our decision, any balance transfer requests included with your credit application will not be processed.

Thank you for your interest in our credit card program. If you have additional information which could lead us to reconsider your request, please contact our office at 1.302.741.1825."

The ironic thing is that my Experian score is my highest @ 645. My income is above average and I haven't paid a credit card, personal loan, or student loan payment late in over two years.

When I chatted with the rep, I asked him specifically, if I were not approved for the card he recommended, would BOA provide me with other suggestions for cards that I was qualified for. The rep said absolutely. Well, they suggested that I apply for a card from their "strategic partner," HSBC. I already have an Orchardbank Mastercard from them that I've had for about six years with maybe one 30 day late payment, and that was in 2003. I just received the Direct Rewards Discover from them last week. I was expecting BOA to at least offer me the 99/500 secured deal that I have heard about. To my disappointment, they offered none of their products. As far as next steps go, do I
1) call and ask to be reconsidered,
2) apply for a secured Visa with BOA (I recently added SkyPoints AMEX and the Direct Rewards Discover to my Orchardbank Mastercard I got in 2001 and Nordstrom card I have had since 1991. When talking to the rep, I originally wanted a Visa card to "round out" my wallet and have the four major cards),
3) apply for a secured Visa with another bank (suggestions please:), or
4) just let it ride for a couple of months and reapply for an unsecured Visa in the fall/winter.

Sorry this is so long. Thanks for your help all.


Comment 1 by brian
Theo!! Close To Guaranteed 4 BOA! User Icon on 2007-08-09

Remarks Theo, the worldpoints card you applied for with BOA is one of the top tier cards they offer. If you want a reconsideration card from BOA, aka the 99/500 deal or secured option then this is the card you need to apply for. They first consider you for the unsecured, then 99/500, then the secured option. If you don't get this card that really does mean 3 strikes and your out, but more accurately you have a sub-550 credit score. The recently added cards on your credit report did not help your case in getting the worldpoints, aside from the cards strict requirements of a 660+. The low limit on this card is about 3k and goes up to 100k. Remember when applying its tiered for approval; cards w/annual fees, regular platinum, rewards for a specific place, general rewards cards including cash back and trips, etc. Oh yeah, I'm on IM here now-Brian.
Comment 2 by leenax
What Does The Card For 99/550 Mean? User Icon on 2008-06-07

Remarks So how many days spaced apart should one apply for several diff cards?

I'm interested in applying for 2 Citicards, 1 BOA Visa/MC, & another store card-either Macy's or BEST BUY (any1 prefer 1 over the other if u were to pick btwn these 2 ? *They're both useful but-ALL have high APR's so I am ONLY planning on using them, if they promise a nice discount by using store card...)I am wondering how many SHOULD I apply in one weekend/in 1 wk? {I have more time to do this than on wkday I guess]... I already got approved for an Amex card already. Need a Citi- Rewards MC/Amex (pts) or Dividend (cash back)
Comment 3 by hjm331
RE: Leena User Icon on 2008-06-08

Remarks Have you pulled your FICO scores lately? If you tell us how your credit report currently looks like, we will be able to assist you.
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