Anyone have luck negotiating with BoA?

[treefrogger]

The first credit card I had was with Wachovia.  It turned into an FIA Mastercard, and now a Bank Americard.

As it is the oldest credit card on my reports, I don't want to get rid of it, but...

The limit was originally $2500, but they dropped it to $500 and added a $59 annual fee last year.  I was able to get the old limit restored last year, but no movement was achieved on the annual fee.

This is now my lowest limit and highest APR card, not to mention the annual carrying cost.  The interest rate on this one is 23.74%.

I'm really not sure what I did to upset them.

I have an NFCU card with a 25K limit (7.9%APR), an AMEX at $15K(15%APR), and a Citi ThankYou Rewards at $15.5K(13%APR).  All balances are paid off each month.

My score is currently listing at 781.

Is there any hope in negotiating with BoA, or should I just take the hit and close the card?

[jefftca925]

I thought Wachovia was absorbed by Wells Fargo... at least the branches and deposit accounts/mortgages/etc.  But back to your issue... I would call BofA and tell them the same thing you've mentioned here and ask them to convert your card to a rewards card with a better rate and no AF.  If they don't, tell them "hasta la vista baby"!  With your scores and portfolio, this card SCREAMS "rebuilder" all over it and you are not in that positon.  If you cold app'd for a new BofA card you would get a much better deal. 

[treefrogger]

The Wachovia -> MBNA -> FIA -> BoA transition took several years, starting around 2004.

Thanks for the advice.  

[jefftca925]

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@treefrogger wrote:

The Wachovia -> MBNA -> FIA -> BoA transition took several years, starting around 2004.

Thanks for the advice.  

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You're welcome!  The CC divisions seem to run independently of the larger banking institution with some banks so it's really hard to keep track.