topic Re: Bank Of America Product Change? in Credit Cards

Bank Of America Product Change?

MontegoMack — Sun, 27 May 2012 01:49:11 GMT

I've been working on my reports/scores and so far, so good.

Years ago I had a secured BofA secured card which became unsecured with a $800 limit. (I do have another card BBRZ, $0 balance, $500 limit)

I have <10% utilization.

Can I product change to BofA 1-2-3 card?

Is it a soft or hard pull?

Will it change my AAoA?

What do they pull... TU? EX? EQ?

My scores are in my signature.

Re: Bank Of America Product Change?

Scuba — Sun, 27 May 2012 01:56:01 GMT

Excellent question I wanted to know the same thing today but went for a CLI first (shouldn't have) and then ask for the PC.

They told me to call but I wont. They can send me a letter. I really don't need them I just want to get rid of a useless CL or make the card meaningful.

I bet I will have to kick them to the curb soon.

Re: Bank Of America Product Change?

MontegoMack — Sun, 27 May 2012 02:05:30 GMT

I'm ready for not only a CLI, but also rewards. I figure that this card isn't too much of a risk, seeing that I already bank with them and have a card with them. At least, that's what I'm thinking. How true that is, is yet to be determined.

I only have 1 hard inquiry in the last 2 years, but don't want to get in to risky apping. Perhaps it's my fear of being denied (which happens when you have crappy credit - which is what I've had for years) or maybe it's that I just need baby steps before taking a big plunge with AMEX, Chase or Discover.

I'm crossing my fingers in hopes that someone has answers before I make the attempt.

Re: Bank Of America Product Change?

Anonymous — Sun, 27 May 2012 02:07:38 GMT

Yes you can product change to a cash rewards card. You can do it by opening a chat window from your home banking page and letting the csr know you want a product change and they will let you know if your card is eligible for a product change.

I was in the same boat as you, started with a $1000 secured card which unsecured a year later asked for a cli to $4000 and it was approved 2 days later soft pull.

I product changed after a couple of months after getting CLI. hope this helps.

Re: Bank Of America Product Change?

MontegoMack — Sun, 27 May 2012 02:13:44 GMT

Stud007,

Sure, it helps. Thanks.

Nw I know a bit about the process and it's good to know that it'll only be a soft pull, too.

With my stats and scores, I'd like to know if anyone could venture to say if I'd be approved.

Re: Bank Of America Product Change?

Anonymous — Sun, 27 May 2012 02:27:27 GMT

@MontegoMack wrote:
Stud007,

Sure, it helps. Thanks.
Nw I know a bit about the process and it's good to know that it'll only be a soft pull, too.

With my stats and scores, I'd like to know if anyone could venture to say if I'd be approved.

With your scores i think you should have no problems especially if you have used the bofa card heavily. I used my secured card very heavily for the first year before it was unsecured. so i dared to ask them for a $4k CLI and i was suprised it was approved with 2 baddies stil reporting on my CR. My scores are still around 690 across all three boards and i have no recent lates or derogs in the past 2 years which might have helped them make a decision on approving my CLI.

Re: Bank Of America Product Change?

MontegoMack — Sun, 27 May 2012 02:44:14 GMT

Although I use my card heavily (and pay before the statement cuts), the scary part is that I have a 30 day late baddy with them in 2009.

Ugh.

Like I mentioned before, having bad credit for so long makes it harder for me to app for the PC. I hate being denied. I'm so used to thinking I shouldn't even bother, but this site is slowly, but surely, empowering me to take advantage of my hard work in repairing my credit and enjoying the rewards of having better credit.

Re: Bank Of America Product Change?

Scuba — Sun, 27 May 2012 02:49:53 GMT

I don't use the card much because the CL is so low. If I use the card and let $1K post at month-end then my score tanks due to utilization. I have had the card for 4 years so I have requested CLI's often. One time they told me no because I didn't use the card much. What fools.

I finally used it today for a big vet bill and some gas for the car and we all know how much that can run.

But all of a sudden I am up to almost $1K without even trying so like almost all my bills, I will pay off before the statement posts because in addition to the $1K I have to pay, I will also pay heavily in a lower FICO score if it reports 50% utilization.

And what did I gain from BOA except disapointment. I used to have my deposits with them but with every CL increase they didn't give me, I moved money out and now I probably cost them money as a customer.