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Member
Posts: 16
Registered: ‎11-27-2008
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Re: Help! BOA won't do product change without new application

I also wanted to do product change about a year ago with BOA, but was repeatedly told that they don't do that. i.e. it'll be a brand-new, additional TL (I could close the old account though, I was told. Brilliant, isn't it? :smileymad:). So I did that. No product change, just a new application. Congrats BTW.
Valued Member
Posts: 45
Registered: ‎08-26-2007
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Re: Help! BOA won't do product change without new application

Ack, I was recently approved for the Bank of America World MasterCard® Credit Card with WorldPoints® Rewards, do I understand correctly now that this card will actually be hurting my scores because it doesn't report the credit limit??? :smileysad:

 

Happy Thanksgiving all :smileyhappy:

 

 

TransUnion 684
Equifax 658
Experian 678
Never Too Late ~ Never Give Up
Regular Contributor
Posts: 199
Registered: ‎05-29-2008
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Re: Help! BOA won't do product change - UPDATE

well, here it is. I just got the new card in the mail. what a surprise, they reported it as an additional new account even though the letter that came with the new card says that this is to replace the visa signature accnt. my scores just took a hit. is there a way i can fight this? any suggestions?
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Posts: 28,098
Registered: ‎04-01-2007
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Re: Help! BOA won't do product change - UPDATE

Call the Customer Service number and ask to speak to a "credit analyst." These are the one-tier-up folks who have the authority to do something.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
Posts: 187
Registered: ‎01-20-2008
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Re: Help! BOA won't do product change without new application

Congrats Max!

 

You're not alone in your frustration with the incompetence of BoA CSR. It took me a couple of months of talking to a wide range of incompetents at their company to get my credit cards and to get them with my name spelled properly. It was really discouraging that a bank's employees can have so little knowledge of their product and show so little interest in serving their customers.


8/27/10 -
TU FICO 768
EQ FICO 763
EX PLUS 732

Regular Contributor
Posts: 199
Registered: ‎05-29-2008
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Re: Help! BOA won't do product change - UPDATE

well, after several attempts, i finally spoke to a credit analyst. they insist it is still considered a new account. it is a hopeless case:smileysad: I'll just have to bite the bullet on the new account and let time do its thing.  I've read that  some members in this forum  were able to do a product change with BOA without any complications but for me it was the opposite. Maybe it was bad timing with all that is going on.

 

the lesson here is if you do not want to hurt your scores stay away from any card that says signature on it or flex spending. most of them have a limit (exposure limit) but will not report it to the bureaus. No matter what the cs rep says dont' believe them.

 

thank you all for your suggestions.


haulingthescoreup wrote:
Call the Customer Service number and ask to speak to a "credit analyst." These are the one-tier-up folks who have the authority to do something.

 

Regular Contributor
Posts: 199
Registered: ‎05-29-2008
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Re: Help! BOA won't do product change without new application

Now, I know why BOA every year makes the list of customer service hall of shame on msn money. they are always number two behind sprint in regards to bad cs.


Not_the_Point wrote:

Congrats Max!

 

You're not alone in your frustration with the incompetence of BoA CSR. It took me a couple of months of talking to a wide range of incompetents at their company to get my credit cards and to get them with my name spelled properly. It was really discouraging that a bank's employees can have so little knowledge of their product and show so little interest in serving their customers.


 

Regular Contributor
Posts: 189
Registered: ‎11-07-2007
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Re: Help! BOA won't do product change without new application

Seems like they do this on purpose so it's easier for people to go over their limit (that they had) or just spend way more than they should.

 

On top of that, the fact that they don't report a limit and it messes up your utilization.  This cause your score to go down, therefore it becomes harder for you to apply and get a credit card with other credit card companies and you're stuck with BoA.

 

I received a letter in the mail saying that they were "upgrading" me to the WorldPoints Signature card and that it's arriving next month.  I think I'll have to call them up and tell them I'd rather keep my current card.

Walmart Discover TU08 FICO 03/02/15: 804 PSECU EX FICO 03/01/15: 788 PenFed EQ FICO NextGen 12/02/14: 831 (out of 950)
Regular Contributor
Posts: 199
Registered: ‎05-29-2008
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Re: Help! BOA won't do product change without new application

be aware that when you speak to customer service reps at BOA, most of them don't know that the signature cards don't report a limit to CRs.  When I signed up for the card, the rep assured me that it would report a limit. When I received the card, the letter said that my limit is 8k with flex spending. the "flex spending" notation caused it not to report a limit to CRs. It took me several weeks to down grade it to a Platinum Plus card and I still ended up with a new TL on my CR.     SIGNATURE cards  most of the time do not report a limit and  can really hurt your scores.


iDShaDoW wrote:

Seems like they do this on purpose so it's easier for people to go over their limit (that they had) or just spend way more than they should.

 

On top of that, the fact that they don't report a limit and it messes up your utilization.  This cause your score to go down, therefore it becomes harder for you to apply and get a credit card with other credit card companies and you're stuck with BoA.

 

I received a letter in the mail saying that they were "upgrading" me to the WorldPoints Signature card and that it's arriving next month.  I think I'll have to call them up and tell them I'd rather keep my current card.


 

Regular Contributor
Posts: 189
Registered: ‎11-07-2007
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Re: Help! BOA won't do product change without new application

Uh oh.  On the line with them now.  The 1st tier person told me that I'd have to app for a new card since they've already issued me the new card even though I haven't received it yet.  Told them why I wanted to keep my card and they said that having no pre-set limit would actually be better than having a pre-set.

 

Now I'm waiting to speak to a credit analyst but reading other peoples' experiences I get the feeling the credit analyst won't help me much.

 

I have 2 cards.  BoA $6.5k limit and Cap1 $500 limit.  If they don't report a cap my utilization is gonna be REALLY skewed since I'd be bumped to almost 100% utilization even though it's currently actually at about 25-30%...

Walmart Discover TU08 FICO 03/02/15: 804 PSECU EX FICO 03/01/15: 788 PenFed EQ FICO NextGen 12/02/14: 831 (out of 950)
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