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10-27-2012 02:25 PM
My BOA cash reward has a problem with BOA compromise alert replacment program. I went to travel last week and used BOA cash. This week i got an alert message from myFico that my BOA card is closed and it is replaced by a new Card number. BOA is sending me a new card number to replace the old one that they are believe it is compromise. It hurts my credit score 15 points decrease because BOA posted "account is lost or stolent" in my credit bureau report. This is the second time i had to have get use a replacement card from BOA. I am not aware that i will get a new card until i received the new card in mail. BOA didn't alarm or awarning customers. They just replace, close the old card and already sending the new card. Even i called to resolved that it is me. I am using my card in my travel.... But ..they already replaced and close old card.
I also called to customer service of BOA. They said that my replacement card is already sent to my home. My old card is no longer to use soon ... early Nov. I asked them why they suspect and replace my card even i used it for my travelling not fraud transaction. But they just said it is a their system's action to protect the customers. From now on each time i am going to travel i have to make a travel note with BOA in advance. Then i can use BOA credit card as usuall. It is very inconvenient for us because it is privacy i can go anywhere and use my card it depends on me right. I dont' know why they deal with my card as such ... ? Who else was in my case ? They confirmed that every credit card customers of BOA need to tell BOA when they travel ? Is it correct ?
What i need to do to resolve it ? It hurts my score ... how can i dispute it ?
10-27-2012 03:07 PM
you should always tell your CCC that your are going to travel. another thing is some banks are very active in fraud and want to inconvenice the customer the least amount. the avg american is not concred with thier score if the card was lost or stollen. it may be in the card holder agreement about this maybe you should read it. but i would get mad over it
10-27-2012 03:58 PM
You need to call in advance if you plan to use credit card abroad (AMEX being the exception). A lot of credit card fraud occurs abroad which is why you need to call. Be glad that BofA takes fraud very seriously.
10-27-2012 05:15 PM
I would have to agree with everyone else. It a good reason that banks give you ability to advise of travel.Most even let you do it online. I really don't see how this is a privacy concern. I rather let them know , then deal with headache of fraud.
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10-27-2012 05:24 PM
I agree with the above...it is standard practice to contact your creditors before travelling.
However, you should not have seen a 15-point drop just because the old card is flagged as lost or stolen. Most likely what happened is the new card is not reflecting the open date of the old card on your credit report, and that is affecting your AAoA. I have had this exact thing happen to me before with BoA - twice!
Most recently, this year....they sent me a new card and it appeared on my reports with an open date of 2012, not 2003 like it should have. The good news is, if that is the problem you can call in to customer service and they will rectify it.
The other possibility is that something else on your report caused the score drop - increase in utilization, perhaps, or new inquiries, or ???
To my knowledge, lost/stolen closed accounts do not factor into your FICO score at all. 10-to-1 says it's the account open date issue.