topic Re: Interesting offer from BoA: An upgrade in Credit Cards

Interesting offer from BoA: An upgrade

Anonymous — Tue, 07 Feb 2012 14:23:40 GMT

I got in the mail an offer to upgrade my Bank of America Platinum Plus Mastercard which has no rewards and was converted from the NFL card when they lost the licensing deal to Barclays. The card has a 10K limit and a fixed 9.99% APR. I haven't used the card in ages. The card is pretty stealth looking: all black.

Anyway, the offer is to "upgrade" to a BankAmericard Cash Rewards World Mastercard. They are offering $50 in cash rewards once I upgrade and make at least $500 in purchases by May 31. The card, if anyone doesn't know, gives 1% on every purchase and bonuses of 2% on groceries and 3% on gas.

The offer notes that the account number will change but the history will not. I've had the card since roughly July or August of 2008. I haven't seen anywhere any mention about the rate specifically if it will change. Aside from my Nationwide Platinum @ 7.24%, this is the lowest rate card I have so I'd like to not mess with that benefit.

Is this a good offer? I really don't use any of my FIA/BoA cards anymore, but I do like free money. I'd hate to lose the rate too. What do you all think?

Oh, if anyone has a picture of the WORLD version, I'd like to see that. I'm too busy right now to search for a pic

Re: Interesting offer from BoA: An upgrade

flowfaster — Tue, 07 Feb 2012 15:06:14 GMT

Call a specialist from BofA and ask about the APR. If it is going to stay the same then why not change. The BofA 123 card is a decent card. Dont keep the vanilla card just for the look of it. Thats my opinion. I would take rewards over no rewards and a higher apr anyway but if the low apr is important to you then call and find out.

Re: Interesting offer from BoA: An upgrade

Open123 — Tue, 07 Feb 2012 16:02:59 GMT

I think it's a good upgrade. I like the BofA 123--not the best rewards per se, but in general it's very good for simplicity's sake of using a single card.

In this day and age, I would never use any card which didn't offer some kind of reward program.

Re: Interesting offer from BoA: An upgrade

Anonymous — Tue, 07 Feb 2012 16:06:15 GMT

The cards in my regular rotation are my Discover More, AMEX Platinum, and Chase Freedom Sig. I've made the most of the cash back and points with these. The not so regulars in my wallet are my Delta Gold and Priceline Rewards Sig. Truthfully, the BoA card has never seen the inside of my wallet. Maybe the new card, should I choose to upgrade, would see some action.

Re: Interesting offer from BoA: An upgrade

Open123 — Tue, 07 Feb 2012 16:09:48 GMT

@Anonymous wrote:
The cards in my regular rotation are my Discover More, AMEX Platinum, and Chase Freedom Sig. I've made the most of the cash back and points with these. The not so regulars in my wallet are my Delta Gold and Priceline Rewards Sig. Truthfully, the BoA card has never seen the inside of my wallet. Maybe the new card, should I choose to upgrade, would see some action.

Based on what you currently have, very little. LOL

Re: Interesting offer from BoA: An upgrade

Anonymous — Tue, 07 Feb 2012 16:13:26 GMT

You might be right LOL!

Re: Interesting offer from BoA: An upgrade

Anonymous — Wed, 08 Feb 2012 13:24:01 GMT

This is taken directly from the offer acceptance page:

Earn more cash back on the things you buy most – with no hoops to jump through.

• 1% cash back everywhere, every time, 2% cash back on groceries, 3% cash back on gas. (Quarterly maximum applies to bonus rewards on grocery and gas purchases)

• Rewards are earned automatically and don’t expire

• No Annual Fee

• You decide how you want cash back: direct deposit to a checking or savings account, as a check, or a statement credit or to pay down any eligible mortgage

• 10% customer bonus when you redeem as a cash deposit into a Bank of America® account.

• $50 cash bonus after you make at least $500 in purchases by 5/31/2012

• Count on the control you want and the security you need with features like: custom emails or text message alerts to remind you when your payment is due and our Total Security Protection® package, including our $0 Liability Guarantee which ensures you’re not responsible for any fraudulent charges on your credit card.

There isn't any mention of the upgrade adjusting the rate nor does it indicate the card will go NPSL.

Re: Interesting offer from BoA: An upgrade

pattycake — Thu, 09 Feb 2012 16:11:57 GMT

Mine says on the back: The terms and conditions of your current credit card account, including any recent or future amendments, will apply to your new account. I assume that means APR, which on my card, is 7.24%. It's the second lowest rate card I have but one of the lowest credit limits.

Re: Interesting offer from BoA: An upgrade

Anonymous — Thu, 09 Feb 2012 16:14:54 GMT

@pattycake wrote:
Mine says on the back: The terms and conditions of your current credit card account, including any recent or future amendments, will apply to your new account. I assume that means APR, which on my card, is 7.24%. It's the second lowest rate card I have but one of the lowest credit limits.

Good to know; I should re-read the offer. Sucks too becasue I just spent $300 at Guitar Center yesterday

Re: Interesting offer from BoA: An upgrade

Ron1 — Thu, 09 Feb 2012 19:29:14 GMT

Mr Shush,

Three months ago, they offered me to upgrade 3-2-1 rewards for my BankAmericard Visa Signature Card. I accepted the offer. I got downgraded to Platinum Plus when I got the card. I didn't really care whether it was Visa Signature Card or Platinum Plus. I looked at the bright side and now they report CL. I tried to say they can turned anything they want. I didn't bother to call them to put it back. They might transfer to credit analyst (grilling). They might CLD my accounts with them. I don't owe them a dime.

Ron.

Re: Interesting offer from BoA: An upgrade

Anonymous — Thu, 09 Feb 2012 19:48:53 GMT

@Ron1 wrote:
Mr Shush,

Three months ago, they offered me to upgrade 3-2-1 rewards for my BankAmericard Visa Signature Card. I accepted the offer. I got downgraded to Platinum Plus when I got the card. I didn't really care whether it was Visa Signature Card or Platinum Plus. I looked at the bright side and now they report CL. I tried to say they can turned anything they want. I didn't bother to call them to put it back. They might transfer to credit analyst (grilling). They might CLD my accounts with them. I don't owe them a dime.

Ron.

Thanks Ron, I'll keep my eye out for the typical Bank of America shennanigans. I did accept the offer for the $50. I'd hate to start funneling charges through this card and it not pay off.

Re: Interesting offer from BoA: An upgrade

Ron1 — Thu, 09 Feb 2012 21:21:15 GMT

Mr Shush,

One more thing I forgot. I read it from the forum and someone took $50 promotion by using 3-2-1 rewards Visa and they closed his account. Just be careful. I don't really like use their cards. I was afraid every time I used the card. They gave 5% cash back for BofA Amex on every purchase from Jan-Mar. I used it once a month to take the promotion. I would rather to use my Amex because I know I can use the card.

Ron.

Re: Interesting offer from BoA: An upgrade

Anonymous — Thu, 09 Feb 2012 21:24:54 GMT

@Ron1 wrote:
Mr Shush,

One more thing I forgot. I read it from the forum and someone took $50 promotion by using 3-2-1 rewards Visa and they closed his account. Just be careful. I don't really like use their cards. I was afraid every time I used the card. They gave 5% cash back for BofA Amex on every purchase from Jan-Mar. I used it once a month to take the promotion. I would rather to use my Amex because I know I can use the card.

Ron.

Damn the bonus then! I figured they offered to spark the usage. I've had it SD'd for quite some time. The last charge that posted was a good 6-8 months ago. I wonder if I hit the spend requirement and let the bonus cash sit if they'd leave me alone.

Like I said before, my regular rotation of AMEX (Plat, Blue, Delta) and Discover with the occasional Freedom thrown in for kicks might just remain in place.

Re: Interesting offer from BoA: An upgrade

Ron1 — Thu, 09 Feb 2012 21:31:53 GMT

@Anonymous wrote:
@Ron1 wrote:
Mr Shush,

One more thing I forgot. I read it from the forum and someone took $50 promotion by using 3-2-1 rewards Visa and they closed his account. Just be careful. I don't really like use their cards. I was afraid every time I used the card. They gave 5% cash back for BofA Amex on every purchase from Jan-Mar. I used it once a month to take the promotion. I would rather to use my Amex because I know I can use the card.

Ron.
Damn the bonus then! I figured they offered to spark the usage. I've had it SD'd for quite some time. The last charge that posted was a good 6-8 months ago. I wonder if I hit the spend requirement and let the bonus cash sit if they'd leave me alone.

Like I said before, my regular rotation of AMEX (Plat, Blue, Delta) and Discover with the occasional Freedom thrown in for kicks might just remain in place.

I remember someone spent $750 to take advantage $50 promotion and next thing he knew they closed his account. It wasn't long ago. It was last month. I heard they have been closing lots of accounts because they sell card portfolio to US Bank and FNBO later this year. I like my Amex, Chase, and Discover. They haven't done anything to me yet.

Ron.

Re: Interesting offer from BoA: An upgrade

Anonymous — Thu, 09 Feb 2012 21:35:39 GMT

This is probably why I've stopped using the FIA/BOA cards. But then again, every lender goes through these phases where they are closing cards for no apparent reason. Are they selling off all of the portfolio or just the brands they administer via small banks?

Re: Interesting offer from BoA: An upgrade

Ron1 — Thu, 09 Feb 2012 21:41:01 GMT

Yes, you're right. Chase closed all my accounts without any reason. Citi refused to renew my Citi Forward without any reason too. I think they sell all card portfolio to either US Bank or FNBO. They sent those 0% BT check every month and it went straight to paper shredder. It's a trap. It gives them excuses to close/CLD accounts.

Ron.

Re: Interesting offer from BoA: An upgrade

Anonymous — Thu, 09 Feb 2012 21:47:40 GMT

@Ron1 wrote:
Yes, you're right. Chase closed all my accounts without any reason. Citi refused to renew my Citi Forward without any reason too. I think they sell all card portfolio to either US Bank or FNBO. They sent those 0% BT check every month and it went straight to paper shredder. It's a trap. It gives them excuses to close/CLD accounts.

Ron.

That's interesting; I get BT checks for both FIA/BOA cards monthly and won't use them. I get preapproved offers from FBNO a lot now too. Citi can !@#$ too. I've had a Citi card that started as a Platinum Select MC -> Diamond Preferred AMEX -> Thank You AMEX and they refuse to give me anything but BT checks. It has a toy limit compared to my other cards meanwhile, my Home Depot consumer card has a limit of 11840! I truly gave up on them too. Chase has been OK to me lately so I don't have anymore problems with them...for now. My US Bank Flex Perks Select hasn't budged since I got the card in 2010 but they are always offering BT checks and points. As far as I know, they are pretty stable. So, I get the new BOA card and that too will see some action, but not like my others.

Re: Interesting offer from BoA: An upgrade

Ron1 — Thu, 09 Feb 2012 22:00:55 GMT

Citi hasn't given me any CLI since 2007. I let them to pull hard pull for CLI. They gave me lame excuse and I owe too much on other credit cards. They decreased my Shell/ExxonMobil Gas card because I haven't used it lately. US Bank are ok. I requested CLI for Bath, Bed and Beyond and they pulled hard. They denied me too. Chase are ok too. They haven't done anything since 2009. They decreased all Wamu to $500 when they turned into Chase. I closed them all. They decreased my Ink business from $11800 to $5k. I think you should take advantage FNBO pre-approval because they're tough to get without pre-approval. They approved $10.5K for Platinum Visa. It is too bad it doesn't have any rewards.

I have both BofA personal and business cards. I hardly use them nowadays. I like to use my Amex cards (both personal and business) and it let me to use it during traveling and business trips.

Ron.

Re: Interesting offer from BoA: An upgrade

Anonymous — Thu, 09 Feb 2012 22:08:50 GMT

@Ron1 wrote:
Citi hasn't given me any CLI since 2007. I let them to pull hard pull for CLI. They gave me lame excuse and I owe too much on other credit cards. They decreased my Shell/ExxonMobil Gas card because I haven't used it lately. US Bank are ok. I requested CLI for Bath, Bed and Beyond and they pulled hard. They denied me too. Chase are ok too. They haven't done anything since 2009. They decreased all Wamu to $500 when they turned into Chase. I closed them all. They decreased my Ink business from $11800 to $5k. I think you should take advantage FNBO pre-approval because they're tough to get without pre-approval. They approved $10.5K for Platinum Visa. It is too bad it doesn't have any rewards.

I have both BofA personal and business cards. I hardly use them nowadays. I like to use my Amex cards (both personal and business) and it let me to use it during traveling and business trips.

Ron.

CITI pulled hard twice last year IIRC for nothing. First excuse was I had way too much available credit for the income listed. Fine, I can accept that. Second time they claimed I hadn't used the card in 6 months so I should use it and try again. I used it to see if it would auto. Nothing.

The last and only time I requested a CLI on the US Bank card they denied (can't remember why though) but luckily zero hard.

I closed a Southwest Chase a couple of years ago because they refused to honor the offer they put fouth. This past September, they were peppering me with offers of $250 (but I got $300) with my first purchase on the Freedom and a bunch of fee free BTs on a Slate. I applied for both 1 Inquiry and got them. I expected more than the $6500 and $7000 respectively but whatever. I only did it for the money.

The FBNO preapproval, I just shredded this morning I really don't want or need any more credit. It's gotten way out of hand for me. I've got my scores pretty high (>770 TU and EQ, EX I won't know until next week) and I just want the dust to settle. Maybe if they offered something super awesome that I couldn't pass up, maybe.

Re: Interesting offer from BoA: An upgrade

Ron1 — Fri, 10 Feb 2012 00:50:53 GMT

Sorry to hear it . Citi gave the same reason. I like Chase Freedom Visa and MC. I got a couple of them and I rotate them to use it. Chase used to sent bunch of BT checks and I didn't use it. They stopped sending it. I have FNBO for almost six month. I can't tell you how good they are. I heard they are conservative. HSBC has been good to me. They gave me a couple of CLI for HSBC RZMC, HSBC store cards and Cash Back Platinum MC. It depends who you talked to. One thing their customer service is bad. They offered no help when you have problem. USAA is pretty good to me. I didn't have any problem with them.

Ron.