topic Re: BoA PC eureka moment?? in Credit Cards

BoA PC eureka moment??

BuildingBetterCredit2020 — Thu, 10 Jun 2021 14:11:46 GMT

Question for folks - Has BoA's Customized Cash Rewards, Premium Rewards, and Travel Rewards cards always been Signature Visas? If so, I just realized why they wouldn't PC my Platinum Plus BankAmericard. I have a CL under $5K on this card (Signature Visa's require a minimum CL of $5K that I'm aware of). Does it stand to reason that if I'm able to bump up the CL on this card to over $5K, that it would THEN be eligible for a PC down the road? Any suggestions on how long I should wait after a CLI before requesting a PC on the card, if at all?

Re: BoA PC eureka moment??

Namaste7 — Thu, 10 Jun 2021 16:19:40 GMT

@BuildingBetterCredit2020 wrote:
Question for folks - Has BoA's Customized Cash Rewards, Premium Rewards, and Travel Rewards cards always been Signature Visas? If so, I just realized why they wouldn't PC my Platinum Plus BankAmericard. I have a CL under $5K on this card (Signature Visa's require a minimum CL of $5K that I'm aware of). Does it stand to reason that if I'm able to bump up the CL on this card to over $5K, that it would THEN be eligible for a PC down the road? Any suggestions on how long I should wait after a CLI before requesting a PC on the card, if at all?

BofA is marketing the Visa Signature [VS] more prominently on their website; however, the option is not new. CLIs and PCs are independent of the VS status. CLI approval odds will be higher for customers with a high TU 8 (740+) scores, high income or NW, and/or low DTI.

Successful PCs require luck (i.e., the right agent) and could be based on a customer relationship score 🤷. Preferred Reward status may improve the PC outcome. In the early 2010s, I didn't have issues with PCs. Then I went through a period (late 2010s) where my attempts were unsuccessful. Earlier this year, I pleaded my case (i.e., TR card did not make sense when I'm not traveling) and two great reps made it happen. YMMV. YMMV. YMMV.

Re: BoA PC eureka moment??

FinStar — Thu, 10 Jun 2021 18:04:23 GMT

OP, it's based on internal product code.

Recently, it has been more of a challenge to PC a variety of their Cash Rewards CCs, for example. Of the ones you mentioned, the Premiun Rewards is issued as a VS, the others can get issued as non-VS or non-WMC.

So, the limit doesn't really have much to do with hindering a PC. You can try and see if your particular legacy product *may* be eligible for a PC once you cross the $5K mark, but it appears that BoA has simply restricted that feature altogether.

Re: BoA PC eureka moment??

MrDisco99 — Thu, 10 Jun 2021 22:17:28 GMT

I'm pretty sure the Cash Rewards was issued as a MC for a while... like between when I got my VSig version (2017) and now.

Re: BoA PC eureka moment??

unsungivy — Thu, 10 Jun 2021 23:45:51 GMT

My BoA Cash Rewards card is an MC. And for the record, I used to have a Visa points card with them, but they refused to product change. Having a 4.2k limit may have been part of the reason, but I think it's more likely that it would have been changing between a points system to a cashback system, and I've read that most banks will only product change if it's the same type of reward system. I feel like when I got the cash rewards card two years ago I got to pick between Visa or MC depending on if I wanted it to feature WWF or breast cancer etc.

I spoke to at least 5 different customer reps and got vastly differing answers when I was researching if I could product change (since that incredibly useless Visa was my oldest card and I wanted to retain the history on it), and then they instructed me incorrectly, so yeah.

Re: BoA PC eureka moment??

coldfusion — Fri, 11 Jun 2021 01:05:10 GMT

@MrDisco99 wrote:
I'm pretty sure the Cash Rewards was issued as a MC for a while... like between when I got my VSig version (2017) and now.

It was issued as a MC for roughly a year in 2018-2019 timeframe then it started being issued to new applicants again as a Visa.

Re: BoA PC eureka moment??

BuildingBetterCredit2020 — Fri, 11 Jun 2021 17:48:53 GMT

Thanks for the info an insight everyone. I clicked the luv button this am and got a CL increase over $5K. From what most of you have said here, it doesn't seem to have a bearing on the PC directly. Next question though - Would the approved CL increase that I requested this morning raise any eyebrows if I were to also ask for a PC today?

Re: BoA PC eureka moment??

coldfusion — Fri, 11 Jun 2021 18:07:44 GMT

No, but I would doublecheck online and confirm that the reported credit limit now reflects the CLI before proceeding, to confirm that the update has propogated correctly through their systems.

Re: BoA PC eureka moment??

BuildingBetterCredit2020 — Fri, 11 Jun 2021 18:28:05 GMT

The new CL shows up on my account online so all seems good.

Re: BoA PC eureka moment??

BuildingBetterCredit2020 — Fri, 11 Jun 2021 23:14:47 GMT

So I called up BoA this afternoon and requested a PC to their Custom Cash Rewards card. The agent said she'd check "eligibility" right then and there. A few moments later, no questions asked, "Sure, this shouldn't be a problem". She read me a disclosure agreement and *BOOM*, PC'd. New card should be arriving in the mail in a few weeks. I was stunned. Now I'm truly wondering whether it's a combination of CLI and getting the right agent. This was the 3rd time I called in the past year! Way to end the week....a CLI AND a PC in one day. Time to celebrate!

Re: BoA PC eureka moment??

coldfusion — Sat, 12 Jun 2021 01:46:37 GMT

"a few weeks" is accurate, BoA is very slow when it comes to processing a PC and sending out a replacement card.

Congrats on your CLI approval.

Re: BoA PC eureka moment??

FinStar — Sat, 12 Jun 2021 01:54:05 GMT

As the OP has indicated they were approved for the CLI and a successful PC, this thread is now locked and closed to new messages.

OP - congrats on both successful fronts.