Reply
Regular Contributor
Max09
Posts: 199
Registered: ‎05-29-2008
0

Re: Help! BOA won't do product change without new application

listen to this, I just came back from my local branch. I spoke to an account manager over there. I said can you help me convert this signature card to a regular card - I seem to be having problems doing it over the phone. She said we can't really help you here but even if we were able to " you do not qualify for the regular  bankamericard card, you qualify for the signature one" we can take a new application.

 

I finally lost it and said "are you aware of how stupid that sounds?" you're are telling me that i qualify for a no limit card but i don't qualify for a lower level card with a hard limit?

 

 

ok, am i in the twilight zone here - what is going on?  what could they possibly get out of these signature cards.


haulingthescoreup wrote:


Max09 wrote:

I can't believe this. I just called BOA a spoke to "credit analyst".  he said "we absolutely cannot convert a signature card to a regular card. it would have to be a new account - we will not pull a hard inq but it will be a new account."

what should i do?

 



Wow, this is new. I wonder if word has come down on high to really force these things down people's throats. I always thought that they were marketed pretty aggressively, but this seems completely over the top. They must get one heckuva incentive to shove these things out there!

Even without the Credit Cardholders' Bill of Rights having been passed (yet), you'd think that there would be some sort of protection for consumers against having something that could hurt your scores.

For those with a bunch of cards, one Sig/World card might not matter, but if you only have 3 or 4 high-CL cards, and 2 of them go no-preset-limit, you could be in a mell of a hess.

 

Regular Contributor
Max09
Posts: 199
Registered: ‎05-29-2008

Re: Help! BOA won't do product change without new application

Yes, signature cards are bad for your scores. they don't report a limit, they are factored into your utility because most banks do not report them correctly. So it does not matter what your balance is, if you have a balance you will look like you are maxed out which will affect your scores.
alphawav wrote:

hi, uh, um, sorry to sound like a newbie but how is that being in a hell of a mess? (having 2 cards with no preset spending limit?)

 

are those world/sig cards really bad for your credit? Please let me know since I was thinking of getting or applying for :

"Bank of America World MasterCard® Credit Card with WorldPoints® Rewards"

 

Also, are the sig/world cards really difficult for people who have all 3 scores in the 650-range? (like me) :smileyhappy:

 

Thanks.

 

Best, -

 

-S

 


 

Valued Member
alphawav
Posts: 54
Registered: ‎07-17-2007
0

Re: Help! BOA won't do product change without new application

thanks for the explanation, Max, and sorry you're going thru this trouble. LOL. I wish I could have seen that bofa employees face, i like the fact you told her how stupid she is, but for you theres no profit in that.

 

Well, from this side of the fence, and in MHO , you should take that 3k card and then do a CLI just like that guy said, it sounds like the most sane and hassle free way to do it. It may include paying off the rest thats on the sig card which is a pain in the ass i know but oh well thats life :smileyhappy: 

 

Best,

 

- S  

Regular Contributor
Max09
Posts: 199
Registered: ‎05-29-2008
0

Re: Help! BOA won't do product change without new application

After, 18 calls and countless transfers I finally had a cs rep on the phone who seemed intelligent and understood what I was going through. He put me on hold for few minutes and then came back with the news that they will do a product change and it will take about two to three weeks to get the new card.  I insisted that i did not want an a new application or an additional new account but only conversion of the pre-existing accnt.  He confirmed that it is going to be a different number but they will only report one account to the bureaus. he does not know which card I am going to end up with but he said it will report a limit. Also he said that I retain the same limit I had on the flex card.

 

I am hoping this product change will go without any new surprises but at this point I can't help but keep imagining the worse.

New Contributor
creditcrap
Posts: 65
Registered: ‎10-01-2008
0

Re: Help! BOA won't do product change without new application

waw, what a story ! Good thing the end was "happy"

I experienced the same thing a while ago dealing with stupid unwilling to help CSRs...But I learned one thing always talk to credit analysts and always skip the first parrot who takes the call, and if a credit analyst did not help hung up and try later with a different one always & ask them for their names.....

its such a poor customer service most of their people are like answer machines.

anyway hope you get a good credit limit with your new card.

NEVER GIVE UP

Moderator Emeritus
psychic
Posts: 1,518
Registered: ‎04-20-2007
0

Re: Help! BOA won't do product change without new application

Congratulations, Max09!!!

 

I can recall a few other members who experienced some difficulty doing BoA product changes.

 

At one time, it took about 4 weeks to receive a new card from BoA:  Usually, you'd see the product change online before the new card arrived in the mail.  I don't know if this has changed, given the rep told you to expect the new card in two to three weeks.

 

Let us know when your new card arrives!

EQ 814 / TU 815 / EX 842
Valued Contributor
stef37
Posts: 2,205
Registered: ‎12-06-2007
0

Re: Help! BOA won't do product change without new application

Congrats Max!!

 

 

Mine took about 6 weeks total to get the card transferred to the new number and a new card mailed out. Like Psychic posted, I saw my new card in my online account right before the card was mailed to me, but was able to continue using the one I had. They will change over the card number with the CRA's as well so you won't have but the one tradeline reporting. This will happen around the same time you see the new card show up in the online account too.

 

Congrats again!

Established Contributor
MojaveMoon
Posts: 536
Registered: ‎08-26-2008
0

Re: Help! BOA won't do product change without new application


Max09 wrote:

After, 18 calls and countless transfers I finally had a cs rep on the phone who seemed intelligent and understood what I was going through. He put me on hold for few minutes and then came back with the news that they will do a product change and it will take about two to three weeks to get the new card. I insisted that i did not want an a new application or an additional new account but only conversion of the pre-existing accnt. He confirmed that it is going to be a different number but they will only report one account to the bureaus. he does not know which card I am going to end up with but he said it will report a limit. Also he said that I retain the same limit I had on the flex card.

I am hoping this product change will go without any new surprises but at this point I can't help but keep imagining the worse.




You have more perseverance than I think I would have had in your situation. What you went through sounds like enough to make a person re-evaluate wanting to have a BofA card. Earlier this year when I was looking for a card that would best fit my needs, one of my criteria was a card with flexibility. What I like about my Citibank card is being able to convert it to most of the other cards without any hassle; i.e., I like the fact that I'm not locked into this card forever.
Regular Contributor
Max09
Posts: 199
Registered: ‎05-29-2008
0

Re: Help! BOA won't do product change without new application

Thank you guys. I hope they are not going to mess this one up. I am worried about ending up with two TLs. the rep promised it is going to be only one TL reporting but I will believe it when I see it.
Frequent Contributor
Karatz
Posts: 318
Registered: ‎09-25-2008
0

Re: Help! BOA won't do product change without new application


Max09 wrote:
Thank you guys. I hope they are not going to mess this one up. I am worried about ending up with two TLs. the rep promised it is going to be only one TL reporting but I will believe it when I see it.

Max09: Could you report back to us in this thread on what actually happened after you get the new card? Thanks :smileyhappy:

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009

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+
}