topic Re: What to do with BofA?! in Credit Cards

What to do with BofA?!

willwar14 — Thu, 19 May 2016 19:26:10 GMT

I have a $500 cash rewards card with bofa, when I originally applied for it back in Nov, I was told I didn't qualify for the version I applied for but I qualified for an unsecured version with a $39 AF and no bonus, I accepted and its handled by their secured department, so I called in today to see if anything can be done. The lady told me since its unsecured it can't be converted to a different product, and it will always be handled by the secured department and the AF can't be removed. I am just making this post to see if anyone has any suggestions on how to get it converted to a regulat card with no AF? I'm about 2 seconds away from closing this dinky card!

Re: What to do with BofA?!

Anonymous — Thu, 19 May 2016 19:35:45 GMT

@willwar14 wrote:
I have a $500 cash rewards card with bofa, when I originally applied for it back in Nov, I was told I didn't qualify for the version I applied for but I qualified for an unsecured version with a $39 AF and no bonus, I accepted and its handled by their secured department, so I called in today to see if anything can be done. The lady told me since its unsecured it can't be converted to a different product, and it will always be handled by the secured department and the AF can't be removed. I am just making this post to see if anyone has any suggestions on how to get it converted to a regulat card with no AF? I'm about 2 seconds away from closing this dinky card!

I feel your pain. I have the secured card and apped for a travel rewards and was declined. I called for a recon and was told that they will not overturn the decision due to me having too many credit accounts with BofA. I started laughing and said my only credit account with you is a $500 loan from me to you so that you can give me a secured card and I am paying you $39 per year. That didnt go over well because my logic explaination wasnt what they wanted to hear. Reason for me wanting the travel rewards was because I am out of the states 10 months out of the year and hate their 3% FTF so I dont use their card.

I was approved for a $7k Visa Siggy from USAA & a $7k MC from USAA this week. I am thinking to abandon BofA until they get their head out of their a** and pull my savings over to USAA and just leave $39 for the next annual fee in my checking.

Stupid bank

Re: What to do with BofA?!

creditguy — Thu, 19 May 2016 19:36:16 GMT

So it's an unsecured card that is handled by the secured department? And it can't be converted because it's unsecured? something is making no sense here, was this a 99/500 card originally?

Re: What to do with BofA?!

willwar14 — Thu, 19 May 2016 19:45:45 GMT

@creditguy wrote:
So it's an unsecured card that is handled by the secured department? And it can't be converted because it's unsecured? something is making no sense here, was this a 99/500 card originally?

Nope, its similar to the 99/500 card but I didn't have to put any down, I actually just called back in and asked again appearently this rep knew what she was doing and its now not secured and she said the CLI request was denied, (I got notice of a TU pull) so I'm on hold with a credit analyst right now to see if he can bump it to at least 1k or something, $500 is just such a toy limit for me.

Re: What to do with BofA?!

creditguy — Thu, 19 May 2016 19:53:36 GMT

@willwar14 wrote:
@creditguy wrote:
So it's an unsecured card that is handled by the secured department? And it can't be converted because it's unsecured? something is making no sense here, was this a 99/500 card originally?
Nope, its similar to the 99/500 card but I didn't have to put any down, I actually just called back in and asked again appearently this rep knew what she was doing and its now not secured and she said the CLI request was denied, (I got notice of a TU pull) so I'm on hold with a credit analyst right now to see if he can bump it to at least 1k or something, $500 is just such a toy limit for me.

Oh ok I see now, I think. Wouldn't it be nice if all CSR's were trained and on the same page? I just love getting 4 different answers from 3 different CSR's.

Re: What to do with BofA?!

Anonymous — Thu, 19 May 2016 20:28:29 GMT

Dump BoFA. It will make you feel good.

Re: What to do with BofA?!

kdm31091 — Thu, 19 May 2016 20:31:22 GMT

I'd just close it. You have plenty of other cards.

Re: What to do with BofA?!

Anonymous — Thu, 19 May 2016 20:41:15 GMT

You have posted about many new accounts, right? That may be the holdup. Perhaps you should consider if you really want a Bank of America card, as others have mentioned. How are your scores looking? How many inquiries in the last couple of months? That might help us to understand what is happening.

Good luck to you whatever you decide to do.

Re: What to do with BofA?!

willwar14 — Thu, 19 May 2016 20:46:55 GMT

Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.

Re: What to do with BofA?!

creditguy — Thu, 19 May 2016 20:53:30 GMT

@willwar14 wrote:
Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.

Congrats on finally resolving that and for the CLI.

Re: What to do with BofA?!

Anonymous — Thu, 19 May 2016 21:17:52 GMT

@willwar14 wrote:
Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.

Your sig is loaded with high limit cards. Why do you even care about this dinky one?

Re: What to do with BofA?!

Anonymous — Thu, 19 May 2016 22:13:43 GMT

Congratulations!

Re: What to do with BofA?!

kdm31091 — Thu, 19 May 2016 22:44:01 GMT

@Anonymous wrote:
@willwar14 wrote:
Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.
Your sig is loaded with high limit cards. Why do you even care about this dinky one?

I'm wondering the same thing.

Re: What to do with BofA?!

willwar14 — Thu, 19 May 2016 22:45:55 GMT

@kdm31091 wrote:
@Anonymous wrote:
@willwar14 wrote:
Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.
Your sig is loaded with high limit cards. Why do you even care about this dinky one?
I'm wondering the same thing.

Becuase I hope to eventually grow the card, to a compareable limit as my others.

Re: What to do with BofA?!

kdm31091 — Thu, 19 May 2016 22:48:02 GMT

@willwar14 wrote:
@kdm31091 wrote:
@Anonymous wrote:
@willwar14 wrote:
Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.
Your sig is loaded with high limit cards. Why do you even care about this dinky one?
I'm wondering the same thing.
Becuase I hope to eventually grow the card, to a compareable limit as my others.

IMO, a card that begins as secured kind of stays with that "stigma" for the life of the account and often it's better to just apply for a new card and get a higher limit that way.

Re: What to do with BofA?!

willwar14 — Thu, 19 May 2016 22:54:27 GMT

@kdm31091 wrote:
@willwar14 wrote:
@kdm31091 wrote:
@Anonymous wrote:
@willwar14 wrote:
Update: after about 1 hour of transfers and looong holds. I was told it was unsecured now, and won't be handled by the secured dept now (it will take a few days for their system to update), and I was approved for a 1k CLI, making my CL 1.5k. Last rep I spoke with said she put in a request to remove the AF. and when my account reaches 6 months next month I can call in for a APR reduction.
Your sig is loaded with high limit cards. Why do you even care about this dinky one?
I'm wondering the same thing.
Becuase I hope to eventually grow the card, to a compareable limit as my others.
IMO, a card that begins as secured kind of stays with that "stigma" for the life of the account and often it's better to just apply for a new card and get a higher limit that way.

I have way to many recent INQ and new accounts for BofA to approve a new account, and from what ive seen BofA cards grow so... I'm about to gop into the garden for a few months and let this rest for a while.