Guys,
Hoping to get a recommendation or info on past experiences on a conversation I had with BofA today. I received some Balance Transfer/Direct Deposit checks from BofA a couple days ago. Today I called them to ask if these had to be used with balance transfers or direct deposit or if I could accept the offer and have the 0% interest offer for general credit card use. I'm going on a trip to Europe next month, and was hoping to leverage the card as a backup in case I need extra funds for a couple extra months.
The answer was no. However, the rep said he had another offer for me. They are offering me a second BofA card (my choice of Travel Rewards or Cash Rewards card. They said they would drop my CL on my existing Travel Rewards card down to $500 and open a new Travel Rewards CC for the remaining $5500. No credit check is required. They claim that it's a "companion card" and all links back to the same $6k account.
My concern is having another new line of credit report. In the last 18 months, I've opened six new CC accounts (4 in the last year). I'm concerned if a new account hits my credit, it will hurt me in terms of having another "new credit line" plus the possible effect of dropping my AAoA.
I explained all this to them, and they say that it will report as a second account, but that it's a "companion account' and they've never heard of this hurting anyone's credit.
What do you guys think? Any advice or experience with a similar offer?
Thanks!
Gardening from 02/14/2014 - 07/01/2014
Oh, the second card would offer 0% for 12 months....hence the offer 
