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Upromise Card change

Frequent Contributor

Re: Upromise Card change

That is a good question. I hope they don't. I do not need another ding on my report. I just got it to were i want it to be. Credit card Debt Free with one current inquiry
FICO Scores 7/15/2008: EQ 600, TU 546, EX 490
9/17/08 - TU 571,12/17/08 649,3/16/09 638, 6/14 642
ScoreWatch 12/17/08 EQ 646, 1/2/ 09 664, 2/2/09 684,2/12/09 673, 2/16/09 688, 2/27 674,3/3 682,4/16 685, 6/28 679
1/2/09 EX 668 2/13/09 669
AS of NOV08 I am Credit card debit free. I AM A MYFICO.COM ADDICTED Smiley Happy ~
Message 11 of 39
Established Member

Re: Upromise Card change

I got notified from ScoreWatch that CITI did a pull for the UPromise card.....     *confused*

Message 12 of 39
Regular Contributor

Re: Upromise Card change

I literally just got this card 2 months ago, so I really hope they don't hit me with another hard. 

 

I think I better call and see if I can figure it out tomorrow.  What a pain!

Message 13 of 39
Frequent Contributor

Re: Upromise Card change


CyberC1 wrote:

I got notified from ScoreWatch that CITI did a pull for the UPromise card.....     *confused*


 

i have a feeling that BOA is going to do a hard pull to revise credit limits and APRs on accounts once the change is complete. my APR just dropped from 14.99 to 13.99 when i PIF last month  

FICO Scores 7/15/2008: EQ 600, TU 546, EX 490
9/17/08 - TU 571,12/17/08 649,3/16/09 638, 6/14 642
ScoreWatch 12/17/08 EQ 646, 1/2/ 09 664, 2/2/09 684,2/12/09 673, 2/16/09 688, 2/27 674,3/3 682,4/16 685, 6/28 679
1/2/09 EX 668 2/13/09 669
AS of NOV08 I am Credit card debit free. I AM A MYFICO.COM ADDICTED Smiley Happy ~
Message 14 of 39
Established Member

Re: Upromise Card change

I just received my card in the mail.
Double-edged sword I suppose.
Message 15 of 39
Regular Contributor

Re: Upromise Card change

My primary concern is that once BOA takes over my account, they will close it due to my previous CO with them.

 

However, part of me wants to stick with them and see if they will keep my account so that I can get back in with them.  What to do..what to do...

 

From what I've read on other boards, at this point I really have to option to stay with Citi anyways.  And I'm afraid I would be denied by Citi now since I have 3-4 inqs on each report.  

Message 16 of 39
Valued Contributor

Re: Upromise Card change

Here's the deal guys. You applied for an card through an affinity program. That program (Upromise) is currently handled by Citibank. If you apply now your application is going to be processed by Citibank and you will get a Citibank issued card. Sometime in the first quarter the affinity program is changing their issuer from Citibank to BofA. Basically Upromise's contract with Citibank expired, and as free agents they were able to obtain a better deal for themselves and their members with BofA. At some point in time they will hit a switch and from then onward all the new app's will be processed by BofA and all new cards issued will be BofA cards. At another point in time they will hit another switch and the existing accounts will be issued new cards by BofA. You have received notice that this process is ongoing. As explained in the letter you received as long as your account is in good standing it will be picked up by BofA. It is not customary when affinity programs change issuers for accounts to be dropped wholesale. Your account should not be carried over to BofA only if it is suspended or closed. If that is the case it is going to remain with Citibank.

 

When you accept an affinity program card you usually do not have the same product change opportunities that non-affinity ("general"/) cardholders have. That is because you app'ed for a card based on a special program offered by an affinity group. The affinity group "brought you in" and is obtaining a benefit from your acceptance/use of the card you obtained under their program. It does not make business sense for an affinity group to allow their issuer to poach their accounts by offering product changes out of their card to another offering.

 

As for future CLI's - that is going to be BofA's business. If you have had previous issues with BofA I would remain optimistic. This might just be that foot in the door you need to get back on your feet with them. Remember, BofA bought out MBNA, and MBNA was the king of affinity card programs. They know what they are doing with affinity cards. You will be with the best in the business in that regard.

 

The abovegoing is why I do not accept offers for affinity card programs. Over the decades I have probably received 100's of these offers and never app'ed a single one of them. I even had a choice of two pre-app's from BofA for an AMEX card - one general and one from an affinity card offered through my university. I took the general one exactly so I could preserve my product change opportunities. Once locked into that university card it is highly likely that I would have been stuck there.

 

Best of luck to all of you. No one likes change, but in the long run I think you all will be very happy!

Message Edited by jmbfl on 12-09-2008 08:41 AM
Message 17 of 39
Frequent Contributor

Re: Upromise Card change

Thanks JMBFL. It is getting close to the change and no word yet. I am worried about the ding to my report (i have not seen anything as of yet).
FICO Scores 7/15/2008: EQ 600, TU 546, EX 490
9/17/08 - TU 571,12/17/08 649,3/16/09 638, 6/14 642
ScoreWatch 12/17/08 EQ 646, 1/2/ 09 664, 2/2/09 684,2/12/09 673, 2/16/09 688, 2/27 674,3/3 682,4/16 685, 6/28 679
1/2/09 EX 668 2/13/09 669
AS of NOV08 I am Credit card debit free. I AM A MYFICO.COM ADDICTED Smiley Happy ~
Message 18 of 39
Regular Contributor

Re: Upromise Card change

Out of everything that they have sent me, I have not seen anything regarding them doing another pull.  I guess all we can do now is wait patiently.  This is my main card, and my highest limit so I'm really hoping that BOA doesnt close it on me. 
Message 19 of 39
Regular Contributor

Re: Upromise Card change

Yeah, the change to BOA is a bummer, I opted to stay with CITI due to their generous and frequent CLI's. 
2/15/2011 TU: 773 ~ EQ: 780
8/15/2011 TU: 766 ~ EQ: 783 ~ EX: 753 (psecu)
Message 20 of 39