Reply
Regular Contributor
Posts: 238
Registered: ‎07-04-2008
0

Bank of America account closed due to report from Visa?

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.

Cards I Carry
$1K$5K$7.5K$12K$20K$12k$5k$6k$12.5k
Total Available Credit: $83.4k | FICOS: EX 632 | EQ 643 | TU 671
Store: Nordstrom Retail $5k and Target $800. Recently acquired: U.S. Bank Cash Rewards Visa $1k.
New Contributor
Posts: 63
Registered: ‎04-12-2013
0

Re: Bank of America account closed due to report from Visa?

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.


Moderator
Posts: 6,381
Registered: ‎10-03-2008
0

Re: Bank of America account closed due to report from Visa?

That is a scary feeling!
Starting Score: 760
Current Score: EX 804 TU 812 EQ 813
Goal Score: 850

Take the myFICO Fitness Challenge
Frequent Contributor
Posts: 484
Registered: ‎12-21-2012
0

Re: Bank of America account closed due to report from Visa?

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!

American Express Costco TrueEarnings - $8,300; American Express Blue Cash Everyday - $5,000; American Express Delta Gold - $7,300; Bank of America Travel Rewards - $5,000; Barclaycard Arrival+ - $5,000; Citi Forward - $5,800 and $4,500; Chase British Airways - $14,500; Discover It - $4,500
Regular Contributor
Posts: 238
Registered: ‎07-04-2008
0

Re: Bank of America account closed due to report from Visa?

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.
Cards I Carry
$1K$5K$7.5K$12K$20K$12k$5k$6k$12.5k
Total Available Credit: $83.4k | FICOS: EX 632 | EQ 643 | TU 671
Store: Nordstrom Retail $5k and Target $800. Recently acquired: U.S. Bank Cash Rewards Visa $1k.
Regular Contributor
Posts: 238
Registered: ‎07-04-2008
0

Re: Bank of America account closed due to report from Visa?

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.
Cards I Carry
$1K$5K$7.5K$12K$20K$12k$5k$6k$12.5k
Total Available Credit: $83.4k | FICOS: EX 632 | EQ 643 | TU 671
Store: Nordstrom Retail $5k and Target $800. Recently acquired: U.S. Bank Cash Rewards Visa $1k.
Established Contributor
Posts: 938
Registered: ‎12-13-2013
0

Re: Bank of America account closed due to report from Visa?

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

 

Please update us, once your new card reports.

Regular Contributor
Posts: 238
Registered: ‎07-04-2008
0

Re: Bank of America account closed due to report from Visa?

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

Cards I Carry
$1K$5K$7.5K$12K$20K$12k$5k$6k$12.5k
Total Available Credit: $83.4k | FICOS: EX 632 | EQ 643 | TU 671
Store: Nordstrom Retail $5k and Target $800. Recently acquired: U.S. Bank Cash Rewards Visa $1k.
Valued Contributor
Posts: 7,035
Registered: ‎10-21-2012
0

Re: Bank of America account closed due to report from Visa?


newUser0 wrote:

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

 

Please update us, once your new card reports.


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

Established Member
Posts: 25
Registered: ‎02-24-2013
0

Re: Bank of America account closed due to report from Visa?

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...
Revolving: BofA Cash rewards, Cap1 QuickSilver, Discover IT, Chase Freedom Visa Signature, DCU Visa Platinum
Car Loan: AHFC

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.