Reply
Regular Contributor
Duke-of-Earl
Posts: 212
Registered: ‎06-20-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

 


Ulan wrote:

 


writemikep wrote:

 


bakalao2k wrote:

your platiinum card was converted to a signature card, just like mine.  i noticed the change on my transunion report a few days ago.  two months ago, bofa notified all of their customers of this product change. 

 


This would suck, since this is the card I let report each month, and it has a $20K CL

 


Issuers love to convert platinum cards into signature cards for CL's above $5k, as it gives them higher merchant fees. But yes, I feel your pain. I had to get a CU card with a higher limit in order to escape the "small special niche card reporting hell" that makes keeping the credit score in green territory quite a pain.

 


 

So now that I understand better what this is all about, I'm wondering why this didn't happen to me.  Never received any notification from BofA, no dropoff of CL on my report.  CL is $20,300.  But it's not platinum, just gold.  Does that make a difference?  Thanks.


Starting Score: EQ 804 - (April 2009)
Upgraded thanks to FICO Forums: EQ 813 / EX 842 / TU 823 - (FICO scores from mortgage lenders, June 2010)
Recent Scores: EQ 807 / TU 799 - (March 2012)
Goal: Survive Another Day
Take the FICO Fitness Challenge
Valued Contributor
daisyduke
Posts: 1,320
Registered: ‎04-18-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

fyi update. Got a new card from BOFA. This card was not upgraded to a signature card as I previously believed this could have been the case.  The card is the BankAmericard Cash Rewards CC and the limit is still the same. So this card for me, an AU, does not report the CL's!  This could be specific to au's only ,i don't know. I was going to ask the ex to do a product change ( a BOFA product that will report the CL) but that's a little bit much to ask. Still helps with my history b/c it's older than any of my own cards.


Starting Score: 682 EQ, 663 TU
Current Score: 687 EQ - 705 TU on 7/18/10
Goal Score: 700 + both EQ and TU


Take the FICO Fitness Challenge
Frequent Contributor
bakalao2k
Posts: 449
Registered: ‎02-21-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

My account was changed to a BankAmericard Cash Rewards Signature Visa card.

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Valued Contributor
daisyduke
Posts: 1,320
Registered: ‎04-18-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

bakalao2k is right. it is a signature card. duh, just peeled the activation sticker off and clearly written right on the card "signature card". I didn't activiate it when I wrote earlier. blonde moment.


Starting Score: 682 EQ, 663 TU
Current Score: 687 EQ - 705 TU on 7/18/10
Goal Score: 700 + both EQ and TU


Take the FICO Fitness Challenge
Valued Member
zkder
Posts: 32
Registered: ‎06-04-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

Ohhhh this explains a lot. I had a Bofa Financial rewards platinum card and this month it is being converted to the Cash rewards card mentioned above. I have a 10k limit, and run a lot of money through this card, but generally stay around 20-30% util.

 

So now this card doesnt report 10k as limit, but the high balance only....no wonder my score took a 27 point hit three days ago. I was trying to figure out what caused it and I couldn't....no big balance increases, no new accounts...

 

If I'm understanding this correctly, the BankAmericard Cash Rewards is a "signature" card so it doesnt report the total CL? So it is lowering overall available credit and messing with debt/credit ratio?

 

 

Valued Contributor
daisyduke
Posts: 1,320
Registered: ‎04-18-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

 

Since a CL is not reported, utilization calculation now will be scored using high balance instead. Our high balance is only 2400 bucks, so all I have to do to is  go and buy something expensive close to statement cut date, then return it, but make sure the high amount gets posted with the CRA's !!  Four pairs of Jimmy Choos should do the trick...


Starting Score: 682 EQ, 663 TU
Current Score: 687 EQ - 705 TU on 7/18/10
Goal Score: 700 + both EQ and TU


Take the FICO Fitness Challenge
Frequent Contributor
writemikep
Posts: 277
Registered: ‎10-21-2008
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

I still don't remember getting notified about the product change (and haven't gotten new card yet).  But, in the process of switching my 'reporting' credit card from my BoA Plat Plus to my Chase, just in case...

Frequent Contributor
writemikep
Posts: 277
Registered: ‎10-21-2008
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

FWIW, I just did a 3-in-1 report pull from CreditSecure and my BoA TL is still showing a CL for all three CRAs.  Hoping that maybe they're not converting everyone to Signature card....

Frequent Contributor
bakalao2k
Posts: 449
Registered: ‎02-21-2009
0

Re: FYI - Bank of America Platinum Plus Card - CL not reported with EQ and TU

It appears as though the BofA sig card is being reported as a credit card with the a limit to EX and as a flexible spending credit card minus a limit to EQ and TU.

 

 

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}