BOA has just opened my new account 18 months after settlement

Congrats Dantheman.

Unless you are on chexsystems, their is no reason why they wouldnt open a checking account for you. The credit card? dont hold your breath....

BofA, and other banks, do offer credit card accounts to former account holders who they settled for less than full balance with in the past. They have a formula for doing so, and from what I can tell, some banks are pretty liberal. I hear from consumers we have assisted who have reestablished open credit card accounts with BofA within a few months of settling with them (when other accounts on credit report are cleared up).

Many banks do the same. The most surprising to me is CapOne offering new accounts within a year after settlement.

You can establish unsecured credit after settlement and bankruptcy relatively quickly.

Greetings Dan,

Keep us updated on the progress with boa-the snake.

I am typing and grinning.:)

Best regards,
King "Kash" Jabba Labba

I think the title of this thread is misleading (though I'm sure it's not intentional). You have defaulted on a credit account, which makes a subsequent opening of a deposit account nothing of consequence, since it compares apples to oranges. Of course they want your deposit account, because they want your money. An apples-to-apples comparison would be how long after your defaulting on their credit account they would open another credit account for you.
An unrelated, but of interest, is the question, why you would want to open a deposit account with BofA in the first place, given the risk of insolvency and the highly impersonal service that you can expect from a behemoth such as BofA. There are enough community banks and credit unions with much better credit ratings and more personal service out there.

Hmmm....

For what its worth, I happen to like Boa. They just credited me 2 bounced check fees as a courtesy, they charge me no fees since they hold my mortgages, I have never had a problem with their online bill pay, and the tellers are always friendly in the few times I actually go in there..

However, I keep next to nothing in my accounts there because I am in default on my BOA credit cards and don't want to chance them sucking what little I have out.

I received a $125 bonus to open a Chase checking account with a $100 minimum deposit. My wife settled with them over the summer, when I get an extra $100, Im going to have her try to open an account for the $125, we'll see if they hold a grudge.;)

Hi Everybody,
I don't get over here much anymore, so let me address the responses in general terms.

First, Soaplady, my chexsystems is clean as a whistle and boa declined to open an account for me a couple months after settlement.

To the poster who says my title is misleading, it is not. They refused to do any business with me after settlement and now have accepted my application. Since they look to market cc's and other financial products and since I was not a prospect, they took a dim view of my application last year. Why do I want to do business with them?? Easy, I really like their atms, website and locations throughout the country. The local bank I went with after settlement is very lean on technology.

Hi King, hope you are well... Part of the reason I applied to the snake was just to see it full-circle. My credit is now in the mid to upper 600's and I probably will apply with the snake for a cc, just for fun lol.

Everybody take care and Merry Christmas! dtm

Hey Dantheman- good luck w/ boa. apply for fun but be careful w/ credit. i am trying to settle my boa acct also. once this nightmare goes away i will be happy!