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Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
0

Annoying issue w/ BOA and Better Balance Rewards card

[ Edited ]

Annoying issue with BoA. I apped for the BoA Better Balance Rewards (BBR) card because I have a balance transfer that I wanted to do. I didn't get instant approval, got the 30day message- wasn't surprised, a bunch of my cards had posted balances and I hadn't bothered to play the utilization game before apping. But I wanted to get the BT done with so I decided to do the BT on my BoA 123 card - there was a BT offer of 0% until Jan 2016, and 4% fee. My CL on the 123 was $6000 so I intiated a BT of $4900. Lo and behold - when I check my account online, I have the BBR listed as one of my accounts with a CL of $6300! The $4900 BT I initiated on the 123 was still pending but here's the kicker - they decreased my CL on my 123 to $5000, leaving my current available CL at $100, which isn't enough to cover the 4% fee for the BT amount. I call BoA - takes me 30 minutes holding before I can talk to someone and another 20 minutes later, the CSR says that there's nothing they can do to cancel the BT on my 123 while it's still "pending" and it's possible that I will be charged an overlimit fee once the BT goes through and the 4% fee is added on. :smileymad: The CSR couldn't explain to me why there was a CL decrease and was generally totally unhelpful. Now it's just a waiting game until the BT is processed on the 123 and hopefully I will be able to cancel it without too much hassle. I guess I should have been more patient with the BBR - when I didn't get instant approval, I just assumed that it was a decline. Ugh. 

 

Edit: subject line edited to more accurately reflect the issue. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Established Contributor
DrZoidberg
Posts: 579
Registered: ‎04-03-2014
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Re: Annoying issue with Bank of America

If I were you I would make a payment so you have a cushion and don't get an over limit fee and have a balance show higher than your CL on your credit report.


Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
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Re: Annoying issue with Bank of America


DrZoidberg wrote:

If I were you I would make a payment so you have a cushion and don't get an over limit fee and have a balance show higher than your CL on your credit report.


That's a great idea but unfortunately, I can't because I haven't used my card in several months, I haven't generated a statement and BoA doesn't give me the option to make payment on an account. I suppose I could always "push" a payment through billpay but I don't have that feature readily available on my bank accounts. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Valued Contributor
dodgerslv
Posts: 1,842
Registered: ‎06-16-2012
0

Re: Annoying issue with Bank of America and Balance Transfers

Sorry to hear that OP...I would call a credit analyst directly tomorrow morning and explain the situation..I'm sure they can help you out...congrats on the approval and let us know the update.

Cards: (Citi- 82.7k) (Chase- 65k)) (US Bank- 18k) (Amex- 22.5k) (Barclays-40k) (BofA- 68k) (Cap1- 49.5K) (WF- 11k) (Penfed- 22.5k) (Discover- 8k) (Sync/GE- 15.7k) (NASA- 30k) (Diners- 15k)
Fico 08 scores (8/27/14) EX: 772 TU: 767 EQ: 778 (Utilization at 8% right now).





Established Contributor
DrZoidberg
Posts: 579
Registered: ‎04-03-2014
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Re: Annoying issue with Bank of America and Balance Transfers

You could try doing a CLI, they would probably raise it a few thousand.


Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
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Re: Annoying issue with Bank of America and Balance Transfers

Update- the BT I initiated on my 123 card finished processing so I called BOA during my lunch hour. The rep was able to help my situation by offering to PC my 123 card to a second BBR card. She couldn't explain why there was a CL decrease on my 123 while at the same time I was approved for a new BBR. I asked if it was possible to move some of the CL from the new BBR to the now PC'd BBR and she said she would be able to do that. She said that it would not be another hard pull to do that. Lo and behold, I find out on credit karma and credit sesame that boa did a HP on 7/14 and 7/16! :smileymad: and I didn't even get additional CL for the 2nd HP. I literally just moved $1500 of the CL from the new BBR to the old 123/now BBR card so that I wouldn't be totally maxed out. 

 

So I'm satisfied that at least I am able to earn the quarterly bonus on my BT but still kind of annoyed that I took an additional HP for nothing. Especially when the rep specifically said that it would not be another HP since I just took a HP two days ago. I don't have that many HPs so I'm not sure if I'm bothered enough to call and complain but BOA customer service leaves a lot to be desired. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Regular Contributor
370Z
Posts: 223
Registered: ‎06-15-2013
0

Re: Annoying issue with Bank of America and Balance Transfers

You may have hit your internal limit with BoA (10k total). In order to limit their exposure and to approve the 2nd card, they lowered the CL on the 1st card.

Citi AA VS - 10k - 12.24% - 6/12 ~ Chase Ink+ WEMC - 5k - 10.24% - 7/12 ~ Chase Freedom VS - 5k - 12.99% - 2/13 ~ Chase Hyatt VS - 5k - 15.24% - 6/13 ~ Amex Hilton - 5.8k -12.24% - 8/13 ~ Chase IHG WMC - 3k - 15.24% - 1/14 ~ Chase Ink$ VS - 5k - 13.24% - 5/14 ~ NFCU $ VS - 14k - 9.65% - 12/14 ~ Citi AA WMC - 2.9k - 13.99% - 12/14
Established Contributor
eddie84
Posts: 612
Registered: ‎05-28-2013
0

Re: Annoying issue with Bank of America and Balance Transfers

[ Edited ]

^ I hate when they do that. lol  When I asked for CLI, they'd just move around CL from one card to another (sometimes without even telling you first).  I was like wth. :smileymad:

9/21/14 EQ 704 | AmEx Platinum NPSL | Discover it $11k | BofA Travel Rewards Visa Sig $7k | Citi Platinum Select AAdvantage WMC $10k | Barclaycard Arrival+ WMC $9.7k | Jared/Kay $5.1k | Chase Sapphire Preferred $5k | BofA Cash Rewards Visa Sig $5k | DFS $5k | PayPal SC $5.6k | PayPal Credit $6.5k | Citi Diamond Preferred MC $4.7k | BofA Better Balance Rewards MC $7k | Chase Freedom Visa $4k | Zales $5k | US Bank Visa Platinum $3k | Bloomingdale's $3k | Amex Hilton HHonors $2k | Macy's $2.5k | Amex Delta SkyMiles $1k | Chase Amazon $800
Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
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Re: Annoying issue with Bank of America and Balance Transfers


370Z wrote:

You may have hit your internal limit with BoA (10k total). In order to limit their exposure and to approve the 2nd card, they lowered the CL on the 1st card.


I'm okay if I hit an internal limit; I'm annoyed with the 2nd HP for the CL allocation after the rep specifically said that it wouldn't require a HP.


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Valued Contributor
bigblue7722
Posts: 1,278
Registered: ‎05-17-2013
0

Re: Annoying issue with Bank of America and Balance Transfers

Im sorry to hear your experince OP. Stories like this make me thankful that I dumped my boa secured card. They have terrible customer service and very long wait times. I even dealt with their EO office a couple of times and I found them rude. Capital one EO is much better.

TU08 Fico Score (689)-Goal Score-(750)
AMEX PRG NPSL,Us Airways mastercard $7500, CSP $6000, AMEX BCE $5000, Chase Marriott $5000,Chase Hyatt $5000, Capital One Quicksliver $3500,Chase Freedom $3200, Discover it $3000,Paypal smart connect $3000, Sallie Mae Mastercard $2900

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