topic Re: Transferring CL and Closing BofA card in Credit Cards

Transferring CL and Closing BofA card

atarvuzdar — Sun, 15 Jul 2018 19:14:59 GMT

Wasn't sure quite where to put this but since a credit pull was involved I'm posting here.

Gotta love BofA. Had two cards -- Cash Rewards ($18,700 CL) and BankAmericard ($12,500 CL). Use the Cash Rewards for daily spend and have my college-age daughter as AU on it. Don't ever use the BankAmericard. Eyeing a BT offer and figured I'd see if BofA would be willing to move the BankAmericard CL to my Cash Rewards. Called them up, spent about twenty minutes on the phone. They asked me all of the "we're doing a hard pull" questions... et voila, my Cash Rewards now has a $31,200 CL and the BankAmericard is closed.

Wasn't sure whether they would allow me to do this since I knew they'd do a credit pull. Didn't ask for anything more than the CL combine b/c I didn't want to push my luck. Very happy with the results. Cheers!

Re: Transferring CL and Closing BofA card

pipeguy — Sun, 15 Jul 2018 19:26:06 GMT

Good job! and good to know should I need/want that option in the future (I have the Blue travel and Red card, but only really need one).

Re: Transferring CL and Closing BofA card

CramEiko — Sun, 15 Jul 2018 19:39:01 GMT

Congrats. I've been thinking about dipping back into BofA cards. I haven't had the best of luck with them in the past. Did they combine your cards with no HP then? Been looking at BPR, BTR or maybe the Alaska.

Re: Transferring CL and Closing BofA card

atarvuzdar — Sun, 15 Jul 2018 19:57:48 GMT

Pretty sure it took a HP because they asked for all the usual HP info and read the disclosure to me. Still waiting for the FICO alert, if it winds up not coming through I’ll update here.

Re: Transferring CL and Closing BofA card

K-in-Boston — Mon, 16 Jul 2018 16:14:13 GMT

@atarvuzdar thank you for your post. I'm looking forward to your follow-up to confirm no HP since data points on reallocations are a bit sparse since BoA changed their CLI policy very recently from HP to SP.

I closed my BankAmericard and moved its limit over to my Travel Rewards a few months back. I was on the phone with an analyst for a bit, and certainly walked through the usual HP questions and disclosures. Since I had recently taken a TU HP from BoA for a CLI (initially granted, but reallocated when my 2nd CLI request went to manual view - $99,900 is fine but apparently $100,000 is not), I did not actually receive one, which is what I expected since they had a HP from the previous 30 days.

I am hoping to call BoA to also close my Cash Rewards card this week and move its line over to my Travel Rewards card. The language has not changed on the CLI screen in the nearly 2 months since they stopped doing HPs for CLIs, so I don't expect it to any time in the near future.

Re: Transferring CL and Closing BofA card

FinStar — Mon, 16 Jul 2018 16:34:28 GMT

I'm thinking since the CL reallocation process follows very similar UW guidelines as far as HP, I'm hoping that it coded as SP. Fingers crossed OP.

Re: Transferring CL and Closing BofA card

atarvuzdar — Mon, 16 Jul 2018 17:25:11 GMT

@K-in-B, oh wow I had no idea they changed their CLI policy to SP! Their prior CLIs are the only HP’s I have on my TU report aside from my mortgage HP lol. Great to know!!!

Interestingly, I still have no alert for a HP, even though they sure as heck made it sound like that would happen. SO not complaining if it doesn’t show up lol.

Re: Transferring CL and Closing BofA card

K-in-Boston — Mon, 16 Jul 2018 17:32:30 GMT

@atarvuzdar wrote:
@K-in-B, oh wow I had no idea they changed their CLI policy to SP! Their prior CLIs are the only HP’s I have on my TU report aside from my mortgage HP lol. Great to know!!!

Interestingly, I still have no alert for a HP, even though they sure as heck made it sound like that would happen. SO not complaining if it doesn’t show up lol.

Yeah, that just started on May 21st. (Thread here.) I've got 6 of them on TU from BoA from CLIs. LOL

The disclosures they read over the phone are the same as those on the website, so it's likely that nothing has changed on their end and as I said earlier, they may not for a while (if at all).

Re: Transferring CL and Closing BofA card

atarvuzdar — Fri, 20 Jul 2018 22:49:58 GMT

Just a quick update. It's been a few days since the CL transfer and still no HP. I think it's safe to say that it was a SP to transfer the balance and close my BankAmericard. Thanks for the heads up K-in-B!

Interestingly, I logged into my account to complete the BT I mentioned in my first post and they're offering me another BankAmericard... lol (no, I didn't bite!)

Re: Transferring CL and Closing BofA card

atarvuzdar — Tue, 09 Oct 2018 21:12:48 GMT

BofA CLI link showed up today for the first time since transferring the CLI in July so I clicked it, requested $40,000 and they approved it. Should've asked for more LOL.

Re: Transferring CL and Closing BofA card

atarvuzdar — Tue, 09 Oct 2018 23:29:57 GMT

Scratch that. Figured I did leave $$ on the table so went back and requested $60,000 since the link was still available. They countered with $50,000. Can't complain!