topic Re: Upromise Card change in Credit Cards

Upromise Card change

niecey89 — Thu, 04 Dec 2008 13:42:22 GMT

I am not sure if i missed this forum but i received a letter today that my Upromise Citibank card is now Upromise Bank of America card. Has anyone else received that letter? Changes go in effect March 2009

Message Edited by niecey89 on 12-04-2008 08:42 AM

Re: Upromise Card change

Anonymous — Thu, 04 Dec 2008 13:20:57 GMT

Yeah, we had talked about that a few months ago. I have yet to receive notice from either Citi or BOA. However, I have burned BOA in the past and hope they don't close my card. I haven't received anything on this yet.

I called Citi when I first got my card and asked if I could stay with Citi, but she told me I needed to wait for the letter to come. This letter still has not come.

Did the letter you received give you the option to stay with Citi?

Re: Upromise Card change

Anonymous — Thu, 04 Dec 2008 13:24:03 GMT

I just applied for the UPromise card over the weekend from the website and it still stated that it was a Citi card. Does anyone know what the deal is with that (will my application be transferred to BoA)? That'd be kinda strange imo since I JUST applied for and got another BoA card....

Re: Upromise Card change

niecey89 — Thu, 04 Dec 2008 13:52:11 GMT

@Anonymous wrote:
Yeah, we had talked about that a few months ago. I have yet to receive notice from either Citi or BOA. However, I have burned BOA in the past and hope they don't close my card. I haven't received anything on this yet.

I called Citi when I first got my card and asked if I could stay with Citi, but she told me I needed to wait for the letter to come. This letter still has not come.

Did the letter you received give you the option to stay with Citi?

Comp5569, just re-read the letter. There is no option to stay with Citi. But get this little statement from the letter and I quote: " In mid-to-late MARCH 2009, you will receive your replacement Upromise credit card(s) from Bank of America, provided your account is open and in good standing.* "

*"Open and in good standing" means the account is not currently closed or suspended as a result of default.

Granted I just paid the balance off to zero. I am wondering if that means if you have issues on your account would they lower the limit and raise your APR or close your account. The letter really does not say much; only about when the changes are coming and what to expect as far as Upromise

Re: Upromise Card change

niecey89 — Thu, 04 Dec 2008 13:53:56 GMT

@Anonymous wrote:
I just applied for the UPromise card over the weekend from the website and it still stated that it was a Citi card. Does anyone know what the deal is with that (will my application be transferred to BoA)? That'd be kinda strange imo since I JUST applied for and got another BoA card....

Per the letter you should receive the BOA card by mid-to-late March. March 29,2009 is the day you should us the BOA card. Citi is no longer valid

Re: Upromise Card change

Anonymous — Thu, 04 Dec 2008 14:07:14 GMT

Hmm.. So I'll probably receive this letter any day now. I hope this wouldn't mean that BOA would do another inq or anything. I'll call and bug Citi I guess.

Re: Upromise Card change

niecey89 — Thu, 04 Dec 2008 14:17:34 GMT

@Anonymous wrote:
Hmm.. So I'll probably receive this letter any day now. I hope this wouldn't mean that BOA would do another inq or anything. I'll call and bug Citi I guess.

Good Luck. But from what it seems BOA is the new owner of Upromise cards. I have heard some good and bad things about BOA. Lets see what happens. Citi was the only card that gave me a chance and a $2800 limit when i first got the card 2 years ago. My credit was shot.

Re: Upromise Card change

Anonymous — Thu, 04 Dec 2008 16:04:46 GMT

That's terrible - I wish they had made it known on their application before doing this switch-a-roo.

Re: Upromise Card change

niecey89 — Thu, 04 Dec 2008 16:45:13 GMT

Yeah i know. But they do not want people to have the option to opt-out of the application. it is all about the numbers

Message Edited by niecey89 on 12-04-2008 11:45 AM

Re: Upromise Card change

Anonymous — Sat, 06 Dec 2008 04:08:01 GMT

So.. I got this letter today.

I was wondering, anyone think I can use this to my advantage?

I was thinking, try to do a product change with Citi, and then hopefully still get the BOA card down the road automatically?

I wonder if it would work. Also, it doesn't say anything about it, but do you think BOA is going to do another pull?

Re: Upromise Card change

niecey89 — Sat, 06 Dec 2008 04:48:09 GMT

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

Re: Upromise Card change

Anonymous — Mon, 08 Dec 2008 17:40:00 GMT

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

Re: Upromise Card change

Anonymous — Mon, 08 Dec 2008 18:59:04 GMT

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!

Re: Upromise Card change

niecey89 — Mon, 08 Dec 2008 20:19:16 GMT

@Anonymous 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

Re: Upromise Card change

Anonymous — Tue, 09 Dec 2008 15:46:50 GMT

I just received my card in the mail.

Double-edged sword I suppose.

Re: Upromise Card change

Anonymous — Tue, 09 Dec 2008 15:50:49 GMT

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.

Re: Upromise Card change

jmbfl — Tue, 09 Dec 2008 16:41:13 GMT

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

Re: Upromise Card change

niecey89 — Thu, 05 Feb 2009 11:57:15 GMT

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).

Re: Upromise Card change

Anonymous — Thu, 05 Feb 2009 13:17:00 GMT

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.

Re: Upromise Card change

Anonymous — Thu, 05 Feb 2009 19:04:30 GMT

Yeah, the change to BOA is a bummer, I opted to stay with CITI due to their generous and frequent CLI's.