topic Re: BOA Double Report in Credit Cards

BOA Double Report

minimock — Sun, 09 Dec 2012 09:43:50 GMT

Has anyone ever noticed that BOA will report a balance increase on the 1st of the month, regardless of your due date and then re report after your statement closes?

However they do not report a balance decrease on the first if you pay early.

Seems like they want to get their licks in first lol.

Just something I noticed over the last 6 months or so

Re: BOA Double Report

mustangy — Sun, 09 Dec 2012 17:15:11 GMT

Yes they did same to me. Boa is not consumer frendly about report to. My visa signutare higher limit was 6k (highest statement) and they didn't report.
I applied for CLI for visa signsture mostly paid early and they hard pulled both TU ang EXP I spend 60k a year and mostly early paid off.
Now I have a master card with no rewards and $29 annual fee I cslled to convert it to boa amex they said we will call you back 26.12.2012 there is no business day after that they and jan 1 2013 is mean another fee tricky.
I ll give shut to back order number and maybe will get some other card but I know they will hsrd pull at least 2 CRA again
So they lost a client with 60k annual spend 50k was in checking account and a merylynch sccount I ll use amex and chase for next year

Re: BOA Double Report

navigatethis12 — Sun, 09 Dec 2012 17:21:05 GMT

I have not noticed that. I do know that Bank of America/FIA will report as soon as something changes on the accounts. Credit limit increases/decreases, change of address, moved statement date, or disputed information will all cause them to update the report immediately. I was under the impression it cost money to report, so I wonder why they do it for you twice.

Re: BOA Double Report

minimock — Sun, 09 Dec 2012 17:44:51 GMT

@navigatethis12 wrote:
I have not noticed that. I do know that Bank of America/FIA will report as soon as something changes on the accounts. Credit limit increases/decreases, change of address, moved statement date, or disputed information will all cause them to update the report immediately. I was under the impression it cost money to report, so I wonder why they do it for you twice.

They do it lol. My due date is on the 5th, and if my balance goes up more then a few hundred bucks they report it on the 1st. Then turn right back around and report on the 6th after the bill is paid....

It really is not a biggie, I just found it interesting.

Re: BOA Double Report

HiLine — Sun, 09 Dec 2012 21:26:21 GMT

By "report" do you guys mean "report to the CRA's"? If so, I haven't noticed BofA reporting mid-cycle at all. I have increased my balance by about 3k so far this month, and I haven't been sent any credit alert from my credit monitoring services.

On a related note, can someone please confirm that the high balance on a BofA Visa Signature is updated immediately even without being reported to the CRA's? I want to pay off the balance but would like to retain the high balance information too.

Re: BOA Double Report

Anonymous — Sun, 09 Dec 2012 22:01:50 GMT

hiline, i think as far as BOA goes, high balance is like statement balance-whatever it is at the end of the day is the number that is used. so if you currently have a high balance of 1000, but today something posts that makes your current balance 2000; if you sent in a payment for 500 and it posted at the end of today, BOA would show your high balance as 1500 the next time your reports update.

Re: BOA Double Report

HiLine — Sun, 09 Dec 2012 22:05:50 GMT

Thanks for your response, YahComb. My current balance has been the same for the last several days, and this is the balance I want to get reported as the high balance on my card. Should I feel confident about paying it off now without affecting the reported high balance?

Re: BOA Double Report

Anonymous — Sun, 09 Dec 2012 22:13:35 GMT

if you've already had that balance sit at the end of a day, you should be okay to pay it down now.

Re: BOA Double Report

HiLine — Sun, 09 Dec 2012 23:06:09 GMT

@Anonymous wrote:
if you've already had that balance sit at the end of a day, you should be okay to pay it down now.

Thanks for the confirmation!

Re: BOA Double Report

mustangy — Mon, 10 Dec 2012 15:08:25 GMT

my total volume goes up friday to 3000$ and today monday i checed its already reported to TU and EX.

and highest separated by years how they calculate the utilazation then, high of that year or high of all times ? Boa is become boring for me internet shop safe usually declined for security reason and you have to call them but for amamzon shops you lose days because you learn in when they try to ship .

I gues i ll use amex bcp for daily spends from now on.

Re: BOA Double Report

Anonymous — Mon, 10 Dec 2012 16:11:21 GMT

hmm mustangy did your highest balance change? Maybe that is the cause of your off-cycle reporting, since it doesn't have a credit limit on the reports and uses high balance for utilization. BOA always updates off-cycle when my CL c hanges.

I would guess it's the highest reported balance you've ever had, but i haven't had credit long enough to test that theory.

Re: BOA Double Report

HiLine — Mon, 10 Dec 2012 16:35:19 GMT

@Anonymous wrote:
hmm mustangy did your highest balance change? Maybe that is the cause of your off-cycle reporting, since it doesn't have a credit limit on the reports and uses high balance for utilization. BOA always updates off-cycle when my CL c hanges.

I would guess it's the highest reported balance you've ever had, but i haven't had credit long enough to test that theory.

My high balance has changed multiple times since the last statement cut though, and I have not noticed any off-cycle reporting.

Re: BOA Double Report

mustangy — Mon, 10 Dec 2012 17:42:15 GMT

my highest 6641$ not changed this month is 3034$ now and still not cut off billing is 14/12/2012 maybe they twice a month but right now can see my 3014$ on experian

Re: BOA Double Report

Anonymous — Mon, 10 Dec 2012 18:04:41 GMT

Man that is really odd. This is only happening on one of your BOA cards right? This is definitely not a standard practive AFAIK; you'll probably want to use one of the backdoor numbers and talk with a supervisor.

Also, off topic---have you tried to PC to no AF on the mastercard? i was able to finally get mine removed without a PC. My BOA was secured until june, i tried to get them to drop the AF in july when i asked for a cli and they said i'd have to call back in a few months.

I tried again online in September when my AF hit, they told me i'd have to close and apply for a new card. He said the card will have annual fee forever. Then i called in, the first guy wasn't allowed to do anything, so i asked for a supervisor. The guy came back and said my fee was waived(still have the fee, they just gave me a credit to bring balance back to zero)

Then at the start of november, i called them again using the backdoor number from the thread on this forum-i explained to this guy i liked the card, i see its long term potential, but i have many other no fee cards and i don't know that i will really want to keep it so many years if i have to keep paying the annual fee. This time, he said hed submit a request to have my annual fee supressed. Next morning, i checked my online banking, and my annual fee changed from 39.00 to 0.00. Not waived, it really has no annual fee anymore.

Re: BOA Double Report

HiLine — Mon, 10 Dec 2012 18:23:09 GMT

@Anonymous wrote:
Man that is really odd. This is only happening on one of your BOA cards right? This is definitely not a standard practive AFAIK; you'll probably want to use one of the backdoor numbers and talk with a supervisor.

Also, off topic---have you tried to PC to no AF on the mastercard? i was able to finally get mine removed without a PC. My BOA was secured until june, i tried to get them to drop the AF in july when i asked for a cli and they said i'd have to call back in a few months.

I tried again online in September when my AF hit, they told me i'd have to close and apply for a new card. He said the card will have annual fee forever. Then i called in, the first guy wasn't allowed to do anything, so i asked for a supervisor. The guy came back and said my fee was waived(still have the fee, they just gave me a credit to bring balance back to zero)

Then at the start of november, i called them again using the backdoor number from the thread on this forum-i explained to this guy i liked the card, i see its long term potential, but i have many other no fee cards and i don't know that i will really want to keep it so many years if i have to keep paying the annual fee. This time, he said hed submit a request to have my annual fee supressed. Next morning, i checked my online banking, and my annual fee changed from 39.00 to 0.00. Not waived, it really has no annual fee anymore.

Maybe this weird off-cycle reporting is specific to geographical location? Perhaps they don't do that on the West Coast.

Congratulations on getting that annual fee removed. That's fantastic! My secured card with them is due for graduation in January; do you think I should try to get rid of the annual fee right after graduation? Do they charge you the annual fee immediately following the anniversary, which is presumably the graduation date?

Re: BOA Double Report

Anonymous — Mon, 10 Dec 2012 18:44:34 GMT

i opened my card in august 2011. my annual fee was charged at the beginning of my second statement in september 2011. Then again at the beginning of the 14th statement-1 year later-in september 2012.

i think a good time to try and lose the fee on the secured card is doing a PC after graduation-probably mention specifically that you want to product change to a no fee card. They may still give you the same old story about how they can't do that, apply for a new card, yada yada yada, but they might just cooperate. For a lot of people though it seems to take a few tries.

Re: BOA Double Report

jsickz32 — Mon, 10 Dec 2012 18:52:53 GMT

I have 3 cards with bofa and no one of them does that . ..i usually pay my bofa cards as soon the last charge goes thru so my statements are always zero and i also get not minimun payment or due date

Re: BOA Double Report

minimock — Tue, 11 Dec 2012 06:29:25 GMT

Just for grins and giggles I called in about it.

They said that they "CAN" but not necessarily "DO" report "Significant" balance increases off cycle....

Like I said no biggie, if they want to report twice in 5 days, well......Ok then