Credit Cards

[Cheech]

I have two World Points cards with BofA - one is an AMEX with a $2,500 CL. It's a little over a year old, and they just gave me a promo BT rate of 1.99% AND a promo purchase rate of 0%.

The other is a Visa, with a $3,000 CL that's a year old this month. It had a 0% BT rate that was expiring this month, so I paid it off.

Since both are World Points cards, and since the regular rate on the Visa is 5 points higher than the rate on the Amex, I called BofA to cancel the Visa and transfer the CL to the Amex.

The woman was very helpful, said "no problem," went over the net effect of the changes with me (new CL, terms, World Pts. accounts, etc.) and everything was groovy. THEN, she said, "You should receive a letter from us within 5-7 business days with an answer to your request."

Now, that doesn't seem like it went through to me. In fact, it ALMOST sounds like it DIDN'T go through and this forthcoming letter will tell me why.

Has anyone else gotten a "you'll get a letter in 5-7 days" response to a request to combine cards? I didn't ask for a CLI or anything, and since they are both World Pts. cards, I figured this would be easy. Is it just SOP for them to send a letter, or does this not sound good? ;-)

[d09]

I got a letter for a product change the CSR told me was instantly approved over the phone. the letter just stated it was approved, but still, a little disconcerting, because it was a thin envelope with no card in it...

[Cheech]

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d09 wrote:
I got a letter for a product change the CSR told me was instantly approved over the phone. the letter just stated it was approved, but still, a little disconcerting, because it was a thin envelope with no card in it...

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Well, she made it sound like it was no problem, but then said that I'd get a letter "informing [me] of [their] decision." That doesn't sound particularly encouraging. I was wondering if anyone else ever got a "we'll tell you by mail" response to a request to combine cards from BofA.

[TheNewWorldMan]

I generally recommend against combining cards. Why turn two good accounts reporting paid on time into only one?

[Cheech]

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TheNewWorldMan wrote:
I generally recommend against combining cards. Why turn two good accounts reporting paid on time into only one?

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As I said, the interest rate is 5 pts. higher on one card than the other. Why keep two virtually identical cards when the interest rate is 50% higher on one than the other? Moreover, why not create a larger CL on one card? I have a 0 balance on the Visa, and no promotional rate. If I move that $3,000 TL to the $2,500 Amex, I can take advantage of the promotional rate without getting close to the danger zone in utilization.

Besides, I have cards numbering well into the "teens" now. One more or less won't matter one whit---but utilization percentages will.

[sankofa]

Cheech,

Could you please let me know what the letter says  once you get it?  I would like to combine my Bank of America Amex Card and Visa Worldpoints cards also.   My BOA Amex card's promotions ended back in May, 2008 and that card is now 7.90% for purchases and balance transfers.    My BOA Worldpoints Visa is 1.99% until December, 2008.   After Dec. '08, my APR will be 9.99% for purchases and balance transfers on that Visa card.

I was advised by one of the CRs when I received the Visa Worldpoints card to combine the two of them when the 1.99% promotion ends in December, 2008 and gave me a number to call when that occurs.  

History-wise, the Amex card I have had since 2005 and the Visa since this year, 2008, so I would want to keep the Amex card as my main card.  BOA opened that card with a $9,200 CL and has raised it to $12,100, so don't be surprised if your next statement shows a CL increase.  Plus, my Visa card has a $3,200 CL.   I would prefer having the $15,300 CL with combining the two rather than separate cards.   Just my opinion.

Sandy

Message Edited by sankofa on 08-07-2008 02:47 PM

[Cheech]

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sankofa wrote:

Cheech,

Could you please let me know what the letter says  once you get it?  I would like to combine my Bank of America Amex Card and Visa Worldpoints cards also.   My BOA Amex card's promotions ended back in May, 2008 and that card is now 7.90% for purchases and balance transfers.    My BOA Worldpoints Visa is 1.99% until December, 2008.   After Dec. '08, my APR will be 9.99% for purchases and balance transfers on that Visa card.

I was advised by one of the CRs when I received the Visa Worldpoints card to combine the two of them when the 1.99% promotion ends in December, 2008 and gave me a number to call when that occurs.  

History-wise, the Amex card I have had since 2005 and the Visa since this year, 2008, so I would want to keep the Amex card as my main card.  BOA opened that card with a $9,200 CL and has raised it to $12,100, so don't be surprised if your next statement shows a CL increase.  Plus, my Visa card has a $3,200 CL.   I would prefer having the $15,300 CL with combining the two rather than separate cards.   Just my opinion.

Sandy

Message Edited by sankofa on 08-07-2008 02:47 PM

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Sure, I'll let you know. Meanwhile, what number did they give you to call to request combining? I just called the number that they gave me on some checks that they sent me on yet another of my cards, related to a promotional balance transfer rate since I had a question on that as well. So, since I had her on the phone anyway, I just made my request through her.

If you still have that other number, though, I'd appreciate having it, just in case.

thanks

[sankofa]

LOL I just knew you were going to ask me for that number Cheech!   I will go to my BOA site and check my mail under both cards.  I hope  I kept it.

BRB!!

Sandy

[sankofa]

Cheech,

The number is 1-800-421-2110.

Sandy

[Cheech]

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sankofa wrote:

Cheech,

The number is 1-800-421-2110.

Sandy

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Cool! Thanks a million!