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Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
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Took an Axe to the Snake (BOA) [UPDATE!]

[ Edited ]

 

I posted last year I was thinking of closing my BOA card and decided to PC it to a 1-2-3 Cash Rewards in hopes of at least getting the AF removed (being they advertise no AF for that card).  Well, tried again, through a CA to get the AF removed and no go.  No luck through chat or on the phone. 

 

I finally gave up and decided the snake is just that, a snake and PIF for the last time and axed the card.  I did give them a year to change my mind, didn't happen, and all their bad press really solidified it for me in that I don't want to contribute my money to one of the more crooked banks.   After 5 years experience with it, the BOA really paled in all aspects compared to NFCU, Discover, Amex, PenFed and even Chase and Capitol One. 

 

I don't know if it will affect my score at all (it was always a $500 CL), but I'm guessing it won't, at least not enough to make me regret getting rid of it.

 

[EDIT]:  UPDATE:   And about an hour after posting this, I get a SW Alert.  It did affect my score, it made it go UP by 2 whole points LOL  "Closed At Consumers Request - Credit Card - Amount in H\C Column is credit limit"  (it was over the 500 once when the AF hit before I paid it off, when I called they said it wasn't a problem, guess it wasn't).

Moderator
09Lexie
Posts: 24,902
Registered: ‎09-13-2012
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Re: Took an Axe to the Snake (BOA)

Sometimes you gotta do what you gotta do! I don't think it will affect your score...in fact good riddance!
Senior Contributor
youngandcreditwrthy
Posts: 6,155
Registered: ‎08-16-2012
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Re: Took an Axe to the Snake (BOA)

You were right to get rid of them!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
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Re: Took an Axe to the Snake (BOA)

I did the same thing last year.  Had a "gold" card for years, 500CL with an AF.  Converted to a 1-2-3 for the same reason and they still charged an A.  I closed it as well.  I don't see myelf ever getting another BOA card as they are lackluster at best.  Good ridence. 

Frequent Contributor
Mailak
Posts: 422
Registered: ‎04-26-2012
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Re: Took an Axe to the Snake (BOA)


RyVision wrote:

 

I posted last year I was thinking of closing my BOA card and decided to PC it to a 1-2-3 Cash Rewards in hopes of at least getting the AF removed (being they advertise no AF for that card).  Well, tried again, through a CA to get the AF removed and no go.  No luck through chat or on the phone. 

 

I finally gave up and decided the snake is just that, a snake and PIF for the last time and axed the card.  I did give them a year to change my mind, didn't happen, and all their bad press really solidified it for me in that I don't want to contribute my money to one of the more crooked banks.   After 5 years experience with it, the BOA really paled in all aspects compared to NFCU, Discover, Amex, PenFed and even Chase and Capitol One. 

 

I don't know if it will affect my score at all (it was always a $500 CL), but I'm guessing it won't, at least not enough to make me regret getting rid of it.



Hi, RvVision - you think BoA is the same for all their cards or just the 1-2-3?

PenFed Platinum Cash Rewards (19.5k), American Express Blue Cash Preferred (18k), Chase Sapphire Preferred (14k), Discover More (10k), Macy's (700).
Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
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Re: Took an Axe to the Snake (BOA)

 

Hi Mailak, haven't seen you on in a while! (or I missed your posts). 

 

After DM had the Plat Cash Rewards Flex spend card with a 15k CL get closed on her, and reading stories of others having a similar experience.  I get the impression the BOA treats consumers with less importance than corporate clients.  Remember, FCRA type laws don't really apply to business accounts so CC companies can jack up rates as well as charge more types of fees (and  higher  ones) than they do for consumers   Corporate accounts also tend to have higher CLs and churn more swipe fees.

 

So to address your question, I do think BOA treats their consumer lines with less "givadam" than most other lenders.  They are in fact so big, there is no way an individual couldn't be more of a number than a person there.   Coverage of their business activities is rather telling too. I wouldn't recommend them to anyone these days and I doubt they'll change for the better, their legal staff is too good at preventing the need.

Frequent Contributor
Mailak
Posts: 422
Registered: ‎04-26-2012
0

Re: Took an Axe to the Snake (BOA)


RyVision wrote:

 

Hi Mailak, haven't seen you on in a while! (or I missed your posts). 

 

After DM had the Plat Cash Rewards Flex spend card with a 15k CL get closed on her, and reading stories of others having a similar experience.  I get the impression the BOA treats consumers with less importance than corporate clients.  Remember, FCRA type laws don't really apply to business accounts so CC companies can jack up rates as well as charge more types of fees (and  higher  ones) than they do for consumers   Corporate accounts also tend to have higher CLs and churn more swipe fees.

 

So to address your question, I do think BOA treats their consumer lines with less "givadam" than most other lenders.  They are in fact so big, there is no way an individual couldn't be more of a number than a person there.   Coverage of their business activities is rather telling too. I wouldn't recommend them to anyone these days and I doubt they'll change for the better, their legal staff is too good at preventing the need.


Ha! I never hear anything good about them for the most part.

 

I had been looking at their Travel Rewards card only because it's no AF, no FTF, and has chip and pin, but I have reservations about BOA that I cannot put a finger on. People just seem to be frustrated with them, in general.

 

PenFed Platinum Cash Rewards (19.5k), American Express Blue Cash Preferred (18k), Chase Sapphire Preferred (14k), Discover More (10k), Macy's (700).
Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
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Re: Took an Axe to the Snake (BOA)

 

I don't have to worry much about the FTF, but I know Cap 1 (I know I know LOL)  doesn't charge it either, but they are a triple puller in most cases.  If it weren't for that, I'd look at them for a similar card.  I wish I knew something comparable to recommend, I've just never had the need to look into it.  There has to be something similar offered by a better and more predictable lender.

 

I think it was the BOA that I've read stories of by others who were out of the country when their card was closed on them and they were thankful they had AMEX and\or others as a backup.  Actually, that makes sense, it sounds like the BOA, so I'm pretty sure that's who it was.  Searching on here would probably bring up some old posts about it.

Frequent Contributor
Mailak
Posts: 422
Registered: ‎04-26-2012
0

Re: Took an Axe to the Snake (BOA)


RyVision wrote:

 

I don't have to worry much about the FTF, but I know Cap 1 (I know I know LOL)  doesn't charge it either, but they are a triple puller in most cases.  If it weren't for that, I'd look at them for a similar card.  I wish I knew something comparable to recommend, I've just never had the need to look into it.  There has to be something similar offered by a better and more predictable lender.

 

I think it was the BOA that I've read stories of by others who were out of the country when their card was closed on them and they were thankful they had AMEX and\or others as a backup.  Actually, that makes sense, it sounds like the BOA, so I'm pretty sure that's who it was.  Searching on here would probably bring up some old posts about it.


Yeah, otherwise, I think I'm leaning on getting CSP, which doesn't have FTF. I need it since I'm going to be out for the summer. It's a hefty AF but I'm thinking of closing that AMEX Green I opened last year. Will still keep the BCP (which is at $18k now!). Need a Visa of some sort as well - having only Amex and Discover causes problems sometimes :-)

 

Didn't mean to threadjack :-)

PenFed Platinum Cash Rewards (19.5k), American Express Blue Cash Preferred (18k), Chase Sapphire Preferred (14k), Discover More (10k), Macy's (700).
Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
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Re: Took an Axe to the Snake (BOA)

Its weird how experiences with banks vary by person :smileytongue:
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)

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