topic Re: BofA Amway Visa Signature Credit Protection Adj in Credit Cards

BofA Amway Visa Signature Credit Protection Adj

Anonymous — Sat, 29 Nov 2014 22:00:01 GMT

On October 23rd, I received an email from BofA stating that my credit card information may have been compromised at an undisclosed merchant or service provider. A new credit card was being sent, and my old one would be cancelled on Nov 10. On Oct 30th, I made a payment of $330, to lower my balance to $1736, and I decided not to use the card until my new one arrived, and I removed all 'reoccuring' bills from the card.

The new card came on Oct 31, but I didn't activate it. Fast forward to Nov 14th, I noticed that BofA decided to up my limit by $3,000. I still did not activate my new card. Fast forward to Nov 24th and I noticed that BofA made a 'Credit Protection Adj' to my card, they basically made a $387 credit card payment to my card, now my balance is $1349. I still have yet to activate my new card or call them lol.

So now I' am wondering what is reasoning behind their generousity all of a sudden? Is this a move to get me to spend waaaay more than the $387 that they credited to my account due to this being the holiday season, or has some one in the BO taken the time to look through my account and see the amount of money I have sent through this card in the past and said "Wow, this is a valued customer, let's do something nice for him this year" lol...I'm just being curious, but I do apprecate the sp cli and the credit adjustment. Hmmm...I think I'll hold out for a little while longer before I call to activate my new card, just to see what they will do next.

Has anyone else had a 'Credit Protection Adj' on their card before and is this common? I wanted to gathered your thoughts and opinions first before I gave them a call.

Re: BofA Amway Visa Signature Credit Protection Adj

Anonymous — Sat, 29 Nov 2014 22:44:56 GMT

@Anonymous wrote:
     On October 23rd, I received an email from BofA stating that my credit card information may have been compromised at an undisclosed merchant or service provider. A new credit card was being sent, and my old one would be cancelled on Nov 10. On Oct 30th, I made a payment of $330, to lower my balance to $1736, and I decided not to use the card until my new one arrived, and I removed all 'reoccuring' bills from the card.
     The new card came on Oct 31, but I didn't activate it. Fast forward to Nov 14th, I noticed that BofA decided to up my limit by $3,000. I still did not activate my new card. Fast forward to Nov 24th and I noticed that BofA made a 'Credit Protection Adj' to my card, they basically made a $387 credit card payment to my card, now my balance is $1349. I still have yet to activate my new card or call them lol.
     So now I' am wondering what is reasoning behind their generousity all of a sudden? Is this a move to get me to spend waaaay more than the $387 that they credited to my account due to this being the holiday season, or has some one in the BO taken the time to look through my account and see the amount of money I have sent through this card in the past and said "Wow, this is a valued customer, let's do something nice for him this year" lol...I'm just being curious, but I do apprecate the sp cli and the credit adjustment. Hmmm...I think I'll hold out for a little while longer before I call to activate my new card, just to see what they will do next.

Has anyone else had a 'Credit Protection Adj' on their card before and is this common? I wanted to gathered your thoughts and opinions first before I gave them a call.

That is very strange. Are you sure no unauthorized charges have been made? That's the only reason they should be crediting your account, but I'd think they'd just remove the charge, not credit the account. Call them and find out what happened if you're worried.

Re: BofA Amway Visa Signature Credit Protection Adj

Anonymous — Sat, 29 Nov 2014 22:49:46 GMT

@Anonymous wrote:
@Anonymous wrote:
     On October 23rd, I received an email from BofA stating that my credit card information may have been compromised at an undisclosed merchant or service provider. A new credit card was being sent, and my old one would be cancelled on Nov 10. On Oct 30th, I made a payment of $330, to lower my balance to $1736, and I decided not to use the card until my new one arrived, and I removed all 'reoccuring' bills from the card.
     The new card came on Oct 31, but I didn't activate it. Fast forward to Nov 14th, I noticed that BofA decided to up my limit by $3,000. I still did not activate my new card. Fast forward to Nov 24th and I noticed that BofA made a 'Credit Protection Adj' to my card, they basically made a $387 credit card payment to my card, now my balance is $1349. I still have yet to activate my new card or call them lol.
     So now I' am wondering what is reasoning behind their generousity all of a sudden? Is this a move to get me to spend waaaay more than the $387 that they credited to my account due to this being the holiday season, or has some one in the BO taken the time to look through my account and see the amount of money I have sent through this card in the past and said "Wow, this is a valued customer, let's do something nice for him this year" lol...I'm just being curious, but I do apprecate the sp cli and the credit adjustment. Hmmm...I think I'll hold out for a little while longer before I call to activate my new card, just to see what they will do next.

Has anyone else had a 'Credit Protection Adj' on their card before and is this common? I wanted to gathered your thoughts and opinions first before I gave them a call.
That is very strange. Are you sure no unauthorized charges have been made? That's the only reason they should be crediting your account, but I'd think they'd just remove the charge, not credit the account. Call them and find out what happened if you're worried.

I'm pretty sure no unauthorized charges were made, I contacted them when I was first notified by email, and they told me that no charges were made but that they were taking the neccessary precautions. Plus I check my account frequently and didn't see any supicious charges.

Re: BofA Amway Visa Signature Credit Protection Adj

sexy_kitten7 — Sat, 29 Nov 2014 23:53:54 GMT

BoA recently lost a federal CFPB investigation into recurring charges for "Credit Protection."

They have refunded ("adjusted" in banking speak) all of the service fees you may or may not have consented to and paid.

This is unrelated to any fraudulent activity.

Re: BofA Amway Visa Signature Credit Protection Adj

Anonymous — Sun, 30 Nov 2014 02:59:46 GMT

sexy_kitten7 wrote:
BoA recently lost a federal CFPB investigation into recurring charges for "Credit Protection."

They have refunded ("adjusted" in banking speak) all of the service fees you may or may not have consented to and paid.

This is unrelated to any fraudulent activity.

Hmmmm great to know that, thanks for sharing!!

I wonder if they are going to dish out more payments to me lol.

Re: BofA Amway Visa Signature Credit Protection Adj

Anonymous — Mon, 01 Dec 2014 23:24:08 GMT

So I decided to reach out to BofA today via secure message. I asked them if this adjustment was in regards to the lawsuit BofA was in. This is part of their response..."At this time we are unable to provide any details regarding any lawsuit that Bank of America has been part of. Unfortunately we do not receive this information. "

They did tell me that I can call them and speak to a specialist. I will call in the am, just to ask around.