topic Re: BOA - Amex card - Change in Credit Cards

BOA - Amex card - Change

Anonymous — Tue, 16 Mar 2010 06:39:53 GMT

Can I change my bank of america Amex card to some other amex card for example costco amex card?

I dont want to lose history by closing boa amex and opening a new amex card.

Please advise.

Re: BOA - Amex card - Change

Anonymous — Tue, 16 Mar 2010 07:15:25 GMT

Those are 2 different banks. You have a card from BofA that uses the AMEX network.

The Amercian Express Bank offers the Costo and many other AMEX network cards.

You can have both however.

Re: BOA - Amex card - Change

armymom — Tue, 16 Mar 2010 12:46:30 GMT

Your Bofa Amex is a co-branded card. Has the Amex logo but issued by Bofa.

Re: BOA - Amex card - Change

Anonymous — Wed, 17 Mar 2010 00:15:45 GMT

It is not a co-branded Card. It has the single brand which is the AMEX network.

A co-branded card is a Nework and a store brand, like Costco AMEX, Best Buy Mastercard.

The confusion arrises because AMEX and Discover started out as both the Bank and the Network.

Re: BOA - Amex card - Change

Anonymous — Wed, 17 Mar 2010 00:40:54 GMT

if you don't want to lose the history, find another card from BOA that you like and call them see if they can do a product change from your old BOA Amex to new BOA card, that way it'll still be old line/history and no new accounts etc.

it has worked in the past but obviously it's ymmv.

Re: BOA - Amex card - Change

Anonymous — Wed, 17 Mar 2010 06:08:26 GMT

Thanks. I also have a BOA mastercard thats older than boa amex.

What are my options here?

Re: BOA - Amex card - Change

Anonymous — Thu, 18 Mar 2010 00:21:49 GMT

What are you trying to do?

Convert BOA amex to another BOA product

Get an AMEX bank card like Costco AMEX

Re: BOA - Amex card - Change

Anonymous — Thu, 18 Mar 2010 03:29:22 GMT

Apply for better Amex card like costco amex or amex blue cash..and close this boa amex card.

I was thinking if there was any way to avoid credit score getting dinged...by changing one amex to better amex card.

Re: BOA - Amex card - Change

Anonymous — Thu, 18 Mar 2010 06:07:48 GMT

You have to do a new application for those which are American Express Bank.

You could product change the BOA later to keep BOA history.

Re: BOA - Amex card - Change

Anonymous — Wed, 09 Jun 2010 17:03:18 GMT

Update:

I got a costo flyer - $75 statement credit for opening a costco amex card. I want to apply finally now.

-What will be the approximate decrease in credit score due to this application? (5 or 7 or....)

-I want to add my spouse as AU on this card? Will it show in her credit reports?

After I get this card, i will not use the BOA Amex card.

-I have this card since 2006. I also have a BOA MC from 2004.

-Is there any way I can transfer the BOA Amex history to BOA MC (even though BOA amex has a shorter history than BOA MC) and close the BOA Amex card?

-Will there be any credit score impacts due to the above?

Thanks in Advance.

Re: BOA - Amex card - Change

Anonymous — Thu, 10 Jun 2010 03:19:26 GMT

@Anonymous wrote:
Update:

I got a costo flyer - $75 statement credit for opening a costco amex card. I want to apply finally now.
-What will be the approximate decrease in credit score due to this application? (5 or 7 or....)
They only pull Experian, should be very minor
-I want to add my spouse as AU on this card? Will it show in her credit reports?
It should

After I get this card, i will not use the BOA Amex card.
-I have this card since 2006. I also have a BOA MC from 2004.
-Is there any way I can transfer the BOA Amex history to BOA MC (even though BOA amex has a shorter history than BOA MC) and close the BOA Amex card?
There is no such thing as combining histories. It will stay on your report for 10 years. You may be able to comibine credit limits.
-Will there be any credit score impacts due to the above?
If utilizations changes much, it will change score.

Thanks in Advance.

Sounds like a good plan, good luck

Re: BOA - Amex card - Change

Anonymous — Thu, 10 Jun 2010 05:32:30 GMT

Thank you so much for your detailed response. I have one last question.

What will be the effect of 1 credit card application if i go in for mortgage in the next 6-9 months?

Re: BOA - Amex card - Change

Anonymous — Thu, 10 Jun 2010 19:12:03 GMT

The effect of 1 inquiry on 1 report is small and after 6 months is even less.

Re: BOA - Amex card - Change

Anonymous — Thu, 10 Jun 2010 22:31:09 GMT

Thanks again.