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Bank of America account closed due to report from Visa?

Frequent Contributor

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
$7.5K $23K $5k $300(SEC) $500 $300 $1,500 $800 $800
Total Available Credit: $39.7k | FICOS: EX 659 | EQ 661 | TU 673
Message 1 of 14
13 REPLIES
Contributor

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.


Message 2 of 14
Super Contributor

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

That is a scary feeling!
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Message 3 of 14
Established Contributor

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 Blue Cash Everyday - $11,000; American Express Platinum Cashback Everyday - £3,000; American Express Rewards Credit Card - £7,500; Aqua Reward Mastercard - £3,500; Bank of America Travel Rewards - $5,000; Barclaycard Freedom Rewards - £3,500; Citi Forward - $5,800; Discover It - $10,000; Halifax Clarity - £1,500; HSBC Platinum with Rewards - $5,000, MBNA Everyday Plus - £3,500
Message 4 of 14
Frequent Contributor

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
$7.5K $23K $5k $300(SEC) $500 $300 $1,500 $800 $800
Total Available Credit: $39.7k | FICOS: EX 659 | EQ 661 | TU 673
Message 5 of 14
Frequent Contributor

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
$7.5K $23K $5k $300(SEC) $500 $300 $1,500 $800 $800
Total Available Credit: $39.7k | FICOS: EX 659 | EQ 661 | TU 673
Message 6 of 14
Established Contributor

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.

Message 7 of 14
Frequent Contributor

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
$7.5K $23K $5k $300(SEC) $500 $300 $1,500 $800 $800
Total Available Credit: $39.7k | FICOS: EX 659 | EQ 661 | TU 673
Message 8 of 14
Senior Contributor

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.

Message 9 of 14
Established Member

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
Message 10 of 14