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To keep or get rid of BOFA

Valued Member

Re: To keep or get rid of BOFA

It won't help.  I had over 10k between a savings and checking account with them, but that did not matter.  I was told "it's the price of doing business".  Recently did a product change so I will see if the annual fee follows me over.  If so, I will head into a branch to see if it can be waived.

Message 11 of 22
Valued Contributor

Re: To keep or get rid of BOFA

Still trying to decide what I'm going to do one mind is telling me to keep it open an another is telling me to close it. I'm doing a BT on the card this week to pay off the account I also redeemed all my rewards off the card.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Message 12 of 22
Established Contributor

Re: To keep or get rid of BOFA

If your scores are right, I'd find a replacement card from a different bank for it, wait till this will be approved (maybe you should wait until the paid-down balance will update on your reports) and then close BoA. I think that's what I would do. It all depends whether you're in a good spot credit-wise. If you've got lots of inquiries and balances, I wouldn't attempt to replace that card right now, perhaps pay the AF once and then close next year when you have a better card to replace it.

Paying for a BoA CC? Some are decent but not worth the AF in my opinion. If customers at BoA accept this practice, other creditors will follow suit.

Message 13 of 22
Valued Contributor

Re: To keep or get rid of BOFA


wollepopolle wrote:

If your scores are right, I'd find a replacement card from a different bank for it, wait till this will be approved (maybe you should wait until the paid-down balance will update on your reports) and then close BoA. I think that's what I would do. It all depends whether you're in a good spot credit-wise. If you've got lots of inquiries and balances, I wouldn't attempt to replace that card right now, perhaps pay the AF once and then close next year when you have a better card to replace it.

Paying for a BoA CC? Some are decent but not worth the AF in my opinion. If customers at BoA accept this practice, other creditors will follow suit.


Not sure what my credit scores are I'm sure there pretty good. I was just approved for Discover More & Chase Freedom last week. I would BT the balance from BOFA to Chase an then close BOFA. I really hope I'm making the right decision just not feeling paying a AF. I've had AF cards when i was rebuilding an I'm not trying to go back to that...


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 14 of 22
Valued Contributor

Re: To keep or get rid of BOFA

 


mjbfan79 wrote:

wollepopolle wrote:

If your scores are right, I'd find a replacement card from a different bank for it, wait till this will be approved (maybe you should wait until the paid-down balance will update on your reports) and then close BoA. I think that's what I would do. It all depends whether you're in a good spot credit-wise. If you've got lots of inquiries and balances, I wouldn't attempt to replace that card right now, perhaps pay the AF once and then close next year when you have a better card to replace it.

Paying for a BoA CC? Some are decent but not worth the AF in my opinion. If customers at BoA accept this practice, other creditors will follow suit.


Not sure what my credit scores are I'm sure there pretty good. I was just approved for Discover More & Chase Freedom last week. I would BT the balance from BOFA to Chase an then close BOFA. I really hope I'm making the right decision just not feeling paying a AF. I've had AF cards when i was rebuilding an I'm not trying to go back to that...


Not paying AF is always a good decision (unless no one will give you credit with similar rewards, which is not the case here)

 

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 15 of 22
Frequent Contributor

Re: To keep or get rid of BOFA

I just called and cancelled the blasted account.................If I was rebuilding I would bite the bullet for awhile but now  now way!

Message 16 of 22
Valued Contributor

Re: To keep or get rid of BOFA

 


moonman wrote:

I just called and cancelled the blasted account.................If I was rebuilding I would bite the bullet for awhile but now  now way!


They didn't try to keep you at all by waving the AF?

 


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Message 17 of 22
Frequent Contributor

Re: To keep or get rid of BOFA

 


mjbfan79 wrote:

 


moonman wrote:

I just called and cancelled the blasted account.................If I was rebuilding I would bite the bullet for awhile but now  now way!


They didn't try to keep you at all by waving the AF?

 


Nope....The card service manger just thanked me for being a customer and closed my account.I guess FIA services could give a dang about my account because I bank with them(BOA) but that's coming to an end also.

 

Message 18 of 22
Valued Contributor

Re: To keep or get rid of BOFA

WOW


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 19 of 22
Frequent Contributor

Re: To keep or get rid of BOFA

Today I got a call from card services(FIA)trying to sell me some credit protection for my now closed account. When the crs finished talking and I said the account was closed, he quickly got off the phone and then I got an email survey requesting my experience with the card and customer service.I said the card was fine and customer service has been ok but when i wrote about their crappy credit policies I did not hold back.I am not a BOA basher but it seems relationships with the company starts out sweet but somewhere down the road they do things to make you close an account and I've read many many posters that have done it. just letting off a little steam..........Smiley Mad

Message 20 of 22