Bank of America account closed due to report from Visa?

[MACFRME]

Holy S*! 

Just logged into online banking and my card disappeared. Called in and the system said it was closed. Spoke to a rep, and she also said Visa reported to them that a merchant I shopped at experienced a security breach. She could not tell me where it was. She said they would be issuing a new card. I then asked if they could expedite it. She tried to do it and then said I would need to call again in the morning to speak to their "Credit Team." That may mean fraud or an analyst. My utilization has been a steady 5-10% over the past few months. I think I may have shopped at Target during the breach period. I am not sure what this is about. The last time they softed me was in early December. I hope my account is not permenantly closed.

[knhorn]

You should be fine. There will be a record on their end of your account, and it doesn't look like you've done anything to put yourself in an unsatisfactory relationship with BofA. Just follow up with them.

[Anonymous]

That is a scary feeling!

[nyancat]

I was in these shoes, yes, your account is permanently closed. What they do is they create a new account with all your information copied to it, then delete the old one from your credit reports. It doesn't hurt you. It is a PAIN in the backside for the two weeks you're without a card, especially since they didn't notify me first!

[MACFRME]

Thanks!

I saw a a poster on another forum whose account was closed yesterday under similar circumstances, but it turned out he had really high utilization and that they did close it for credit concerns.

I am glad to see that this situation has happened to others, but that you did actually get a new card.

[MACFRME]

Called back in today. They said everything is fine and that I should receive my new card in 7-10. It is already showing up in online banking. I tried to get it expedited and they asked for my employment and housing information, then said they couldn't do it. I am just waiting for it now, I guess. I looked at my account, and a charge I made at a car wash disappeared. I am thinking that must be the place that had the data breach, rather than Target.

[newUser0]

Just curious to know, how this would be updated in your Credit Bureaus.

Please update us, once your new card reports.

[MACFRME]

Experian has already updated with the new account number and a mid-cycle balance of $600. 

[FinStar]

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@newUser0 wrote:

Just curious to know, how this would be updated in your Credit Bureaus.

Please update us, once your new card reports.

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It's just an automatic update from the lender with the new card # that basically replaces the old one, same history and information though.

[adushenka]

Ok, it happened to my wife yesterday and this morning I also found my account closed. They told me the same info about compromised merchant.. These were the only cards we used at Target...