Bite the hand that feeds me? BofA

[resilient]

Good morning guys....long story short, I had a BofA secured card with a $500 CL back in 2008 that I used to rebuild credit. I had the Credit Life insurance on it, which paid up to $500 per life event, such as marriage, divorce, college graduation, and PCS. Luckily, I had a new marriage, college graduation, and just joined the Army, so I had a move too. Basically, I could charge up $500, file a claim, and then receive the debt cancellation. Well, I closed my account in 2009. Two weeks ago, as stated in another post, I applied for a Cash Rewards Signature card and was approved for $10k. I get this class action lawsuit against BofA Credit Protection, in which I can receive either $50 or $100. I'm wondering if I sign up as a plaintiff in this class action, can BofA take AA on my new account? I'm thinking that I don't even need the $50-$100 but it's free.......On the other hand, BofA has been good to me (knock on wood) so far and was when I opened my secured card to rebuild......Any thoughts?

[maiden_girl]

It sounds fishy to me. Usually you don't have to OPT into a class action lawsuit. You are usually apart of the suit if you are/were a customer. Normally, you'd have to opt out if you don't want to be apart of it. Have you looked into it?

[jsickz32]

if you dont even need the $50 or $100 then why you even posted this? Lol bank of america is the first bank who gave me my first CC too and they have been awesome to me and i been banking with them since 2007. I wouldnt do it specially since you said you dont need it.

[resilient]

I have looked at it, and you're correct. I have three options....opt out, file a claim, or object to the settlement. I'm thinking I'll object, since I basically got the benefits as they were described. Just needed someone to help me make a morally sound decision!

[resilient]

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@jsickz32 wrote:
if you dont even need the $50 or $100 then why you even posted this? Lol bank of america is the first bank who gave me my first CC too and they have been awesome to me and i been banking with them since 2007. I wouldnt do it specially since you said you dont need it.

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Yea, I won't. I think I'll actually object to it now, so they don't try to AA me.....

[navigatethis12]

I can not stand these people and would have no problem with taking that money.  If you pay taxes, you are aware that they got billions in tax payer's money right? I have yet to see any of it back. They would not be able to close the card just because you got money in this lawsuit. I do not even know if they would be the ones sending out the money, because it is not always the actual company doing it.

[resilient]

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@navigatethis12 wrote:

I can not stand these people and would have no problem with taking that money.  If you pay taxes, you are aware that they got billions in tax payer's money right? I have yet to see any of it back. They would not be able to close the card just because you got money in this lawsuit. I do not even know if they would be the ones sending out the money, because it is not always the actual company doing it.

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I think I will err on the side of safe judgement and not file a claim. I basically got $1500 worth of free things from them, I guess I just asked the question because I knew I wouldn't file a claim, but just wanted to know if anyone knew if they'd know the names list and send it to BofA....