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BofA Product Change Question

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dp321
Regular Contributor

BofA Product Change Question

For those who had done a PC with BofA, what is your experience as regard to tradelines? Do you keep the original one with a changed acct number, get a new tradeline with different acct number and new age? Any comment is welcomed.


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Current Score: EQ: 738 (04/2013)

Goal Score: ALL 800

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Message 1 of 8
7 REPLIES 7
in0wh3r3ul1v3
New Contributor

am Re: BofA Product Change Question

+1!

 

I'd also like to know about how BofA PCs work. Soft/hard pull? Does my current TL limit me to the cards I can PC to? Will I lose the age of the account? How is a product change different from just applying for a new card?

Macy's Red Star - $5100 (1/2010)
AMEX Everyday - $9000 (1/2011 Backdated)
AMEX Green Corporate - NPSL
Chase Amazon Prime - $8900 (11/2011)
Lowe's/SYNCB - $6500 (7/2014)
J. Crew/CB - $3500 (2/2015)
Target REDcard - $500 (11/2015)
Citi AAdvantage - $4000 (6/2016)
Chase United MileagePlus - $5000 (2/2017)
Message 2 of 8
Anonymous
Not applicable

Re: am Re: BofA Product Change Question

Last time I called to inquire about a PC with BOA I was told I would have to apply again for the products I would like to obtain. I was trying to change from the Power Rewards to the new Cash Back offer they are now offering online for a limited time. She said I would have to re-apply for that card. Whatever BOA! They can be exhausting at times.

Message 3 of 8
flyingmd
Frequent Contributor

Re: am Re: BofA Product Change Question

I just completed a product change from PowerRewards VISA to Accelerated Rewards AMEX. It took about 4 weeks from the time I called until I received the card and it showed up on line. The account number changed obviously (VISA to AMEX) but online I can see all my VISA transactions with the new AMEX transactions. So it is effectively the same account with the same terms and same credit line (akin to if you had lost your card and they issued a new oe with a new number.

No the hard part. The first time I called (about 2 months ago) I was initially told by the CSR that I could not product change from VISA to AMEX. I was told that I could only PC from VISA to another type of VISA or MC. After reading these boards I decided to try again a few weeks later. This time the rep said no problem and authorized the change. There was no hard or soft pull involved in my PC. HOWEVER, apparently ones experience with PC at BoA can vary significantly. There have been people on this forum that were told they could not PC, or could not PC to another type of VISA/MC (for instance Platinum to Signature version of the VISA) and others on this forum had no problem. It is not clear what BoA requirements are for authorizing a PC but it does seem to vary from CSR to CSR and is also dependent on what product you have and your credit line (for instance, you cant change a rewards VISA to a signature Rewards VISA if your CL is under 5000.) My recommendation would be to call customer service and ask. If you do not get the answer you want, wait a few days and call back again getting another rep. In my case, I actually called the BACKDOOR number the second time so I am not sure if that is what made the difference. So the long and short of it is it depends on what you got, what you want, how large your current line is, and who you speak to at BoA (the rep mentioned to me that he could see a list of products I was eligible to change to - but that wouldnt explain why the first rep told me no. Your credit line, account and terms will all remain the same. WARNING - I was told that if you have a rewards product and do a PC, YOU WILL LOOSE YOUR CURRENT BALANCE OF REWARD POINTS, so the rep asked me if I wanted to redeem them before doing the PC. In my case, I asked the rep to convert my point balance to cash and credit my checking account (I bank at BoA as well). Interestingly, after the change the few points left in my powerrewards account remained. But better safe than sorry and I would definately redeem them before you do the PC. Hope this answers some of your questions. Good luck. Let us know what you decide to do and what BoA lets you do.

Message 4 of 8
in0wh3r3ul1v3
New Contributor

Re: am Re: BofA Product Change Question

my credit line is $1500. does that allow me some negotiating room, or this too low of a line to be considered for a PC?

Macy's Red Star - $5100 (1/2010)
AMEX Everyday - $9000 (1/2011 Backdated)
AMEX Green Corporate - NPSL
Chase Amazon Prime - $8900 (11/2011)
Lowe's/SYNCB - $6500 (7/2014)
J. Crew/CB - $3500 (2/2015)
Target REDcard - $500 (11/2015)
Citi AAdvantage - $4000 (6/2016)
Chase United MileagePlus - $5000 (2/2017)
Message 5 of 8
flyingmd
Frequent Contributor

Re: am Re: BofA Product Change Question

The line itself shouln't prevent a PC but may limit the options as to which product you can change to. No one on this forum will be able to answer your questions as there is no pre defined formula. You will have to call BoA and find out. I would recommend that you use the backdoor number. Depending on how long you have had the card and your cirumstances you might even be able to request a CLI (but then there will maybe a pull on your CR either hard or soft)

Message 6 of 8
Anonymous
Not applicable

Re: am Re: BofA Product Change Question

Hello,

 

I just went online and did a product change for my wife's BoA visa card to cash rewards card. I did it through online chat service provided on the website. I verified twice with the CSR about hard pull and as per them report is not required for a product change. Also as per my conversation with them they do not have access to our credit report.

Message 7 of 8
longhorn11
New Contributor

Re: BofA Product Change Question

I just completed a product change from a student platinum plus mastercard to an accelerated rewards amex.  1st time I called they put through the product change without hesitation, when I asked about a CLI as well they said that would result in a hard pull.  I called back a few weeks later, spoke with an extremely nice supervisor to confirm the product change and ask about a CLI, she approved the CLI with a soft pull.  Go figure.  Smiley Happy

Message 8 of 8
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