Reply
Regular Contributor
Posts: 169
Registered: ‎03-29-2012
0

Bank of America question

So I got my Bank of America cash rewards card a week ago and it started reporting before I even got the card in the mail. Didn't think much of it but now I see they reported a balance already and I haven't had a statement cut. Is this normal for bofa? i planned to run this card up and pif every month but I really don't want every balance reporting. does bofa report weekly or something??


Starting Score: EQ 619
Current Score: EQ 735, TU 732, EX 745(Lender Pulled)
Goal Score: EQ 700


Take the FICO Fitness Challenge
Moderator Emeritus
Posts: 12,528
Registered: ‎12-30-2011
0

Re: Bank of America question


jtc411 wrote:

So I got my Bank of America cash rewards card a week ago and it started reporting before I even got the card in the mail. Didn't think much of it but now I see they reported a balance already and I haven't had a statement cut. Is this normal for bofa? i planned to run this card up and pif every month but I really don't want every balance reporting. does bofa report weekly or something??


Nah, but they have to report *something* to the bureaus and it could have been a statement close, or just the balance of the day (much like a mid-cycle report).

 

BOFA will sometimes do this but with less historical frequency than Discover anecdotally; usually it happens because there's a change to your account that needs to be reported to the bureaus.  BOFA is sorta ninja-like in my experience on those things compared to many other lenders.  Pretty much every change I had on my BOFA secured product seemed to trigger a mid-cycle report... I would expect a new account would be similar.  

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge
Highlighted
Established Contributor
Posts: 657
Registered: ‎06-27-2012
0

Re: Bank of America question

No it's not normal.

 

BOA: 8.9k
CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
JCP: 4.9k
citiForward: 4.7k
ChaseFreedom: 4.5k
DFS: 2k
Frequent Contributor
Posts: 392
Registered: ‎10-02-2012
0

Re: Bank of America question


jtc411 wrote:

So I got my Bank of America cash rewards card a week ago and it started reporting before I even got the card in the mail. Didn't think much of it but now I see they reported a balance already and I haven't had a statement cut. Is this normal for bofa? i planned to run this card up and pif every month but I really don't want every balance reporting. does bofa report weekly or something??


OT, but i just received my BofA Cash Rewards card today too....nice looking card with the chip....now, to the gas station!



Belk ($2.5k) CSP VS ($5k) Citi Platinum Select AAdvantage WEMC ($13k) Citi HHonors VS ($11k) HHonors AmEx ($2k) Dillard's AmEx ($7.5k) Discover it ($5k) FNBO Chrysler MC ($20k) Gold Delta SkyMiles AmEx ($9.5k) Macy's AmEx ($5k) Macy's ($1k) Military Star Card ($4.8k) Military Star MC ($15k) Nordstrom VS ($10k) PenFed Cash Rewards Visa ($15k) Ritz Carlton VS ($35k) Starwood Preferred Guest AmEx ($2k) Susan G. Komen WMC ($38k) Kinetic CU Visa ($10k) US Bank Cash + VS ($14k) Walmart Discover ($7.5) Arrival + WMC ($12.5k) Wells Fargo Visa ($3k)
Frequent Contributor
Posts: 492
Registered: ‎07-24-2012
0

Re: Bank of America question

Yeah, BoA did a mid-cycle report on me when I PCed from Platinum Plus to Cash Rewards.  Seems to be a pretty common thing with them when there are significant account changes.

 

It's also a good idea if you ever have to request a new account number (lost/stolen card) or they force one on you (for whatever mysterious "we got hacked" reson they're not fully telling you), to monitor your credit report to make sure they do not split the account incorrectly. I've twice had them mark the old account as "Lost or stolen" - ok, fine - but then report the new account with an open date of the current month instead of my original date of opening the account. And do so mid-cycle. With my mid-cycle balance. Yay.

 

Most of the time their reporting is pretty consistent and solid, though. It's just these certain events you have to keep an eye on.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12)
Current: EQ 670 (myFICO 9/8/14), EX 694 (Prosper 7/17/14) , TU 693 (WalMart 9/2/14) Goal: 700+ x3
My Wallet: Amex BCP $30k, Chase CSP VS $12.2k, Amex Zync NPSL (> 10k), C1 Venture VS $5k, Amex SPG $4.5k, Walmart (Store) $2.5k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Best Buy Rewards MC $500
My Loans: Prosper $25k/36mo
My Business: Chase Ink VS $5k
Established Contributor
Posts: 930
Registered: ‎07-30-2011
0

Re: Bank of America question

I've never had problems with mid-cycle reporting with my BoA Cash Rewards card, but I've never had any changes with my account that would trigger anything either.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Regular Contributor
Posts: 108
Registered: ‎01-04-2008
0

Re: Bank of America question

[ Edited ]

Pay off the card, let the payment post, then go to the customer service link and update your phone number.  They used to update your credit report within 24hrs.  Not sure if this still works, and they're the only bank I know of that this worked/works with.  I haven't done this for a couple years.

Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: Bank of America question

Ehh boa seems shady! :-/
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.