topic Re: Another Love BoA Thread in Credit Cards

Another Love BoA Thread

nicemann — Fri, 09 May 2008 15:30:34 GMT

So I figured I go ahead and risk the INQ to apply for the Americard with Bank of America. I currently have the US Airways with a CL of $14,000. I called it over the phone because I know BoA is more willing to work with you when you talk to a live person. Well it worked out great for me. I did the application and then was told I needed to to talk to the "credit department" for more questions. Very nice lady told me I would be approved because of my history with BoA. They pulled my EX (only 663 and two collections on it) and since all of my accounts are new and I had a good bit of INQs she could only approve more for an additional $3,000 because of my high CL with their other card.

It was kind of like playing let's make a deal. We started to negogiate CLs between the two cards. Since she said I could only have $17,000 between both cards, I was able to talk her into $10,000 on each. So got another $3,000 out of her.

Then she said well we also have the WorldPoints AMEX. That I am also approved for that. Once again I would have to take limits away from the other two cards if I wanted this one. I told her no thanks, only way I would take it is if she could get more more money. She had to talk to her supervisor. After about five minutes on hold she came back and said they really want me to try it so they will give me a $2,500 CL on it. That I could call back in a few months and ask for a CLI. So of course I took it.

Now all of this happened because I signed up for the $99/$300 card about 20 months ago. Best decision I ever made. As for the two new cards hurting my credit.....heck all of my accounts are so new it shouldn't really effect it too much.

I love BoA!

Re: Another Love BoA Thread

Anonymous — Fri, 09 May 2008 15:42:08 GMT

Super Congrats nicemann!!!!

Your testimonial is further evidence that it's always

best to speak to a live person over the phone. What

you accomplished in 1 phone call may well have taken

you months to achieve otherwise, so I'm very happy

everything worked out for you.

Once again, Congratulations on your success!

CanDo

"The right attitude is everything"

Re: Another Love BoA Thread

nicemann — Fri, 09 May 2008 17:54:54 GMT

Thank you CanDo.....I just wanted to pass on the word so people who are offered the secured card from BoA thinks twice before declining it.

My $99 turned into $22,500 worth of credit.

Re: Another Love BoA Thread

Anonymous — Fri, 09 May 2008 18:22:48 GMT

I wish they would offer me the 99/500, i would take it in a heart beat! I am still considering doing their fully secured card, just because it is a good company to establish credit with, as you just proved!

Re: Another Love BoA Thread

Anonymous — Fri, 09 May 2008 18:25:59 GMT

I have a unsecured $500CL PP BOFA card that is coded like the 500/99 card. I can't wait for is to open up in a few months... Makes me want to app for another card with them!

Re: Another Love BoA Thread

fused — Fri, 09 May 2008 18:27:32 GMT

Great! My wife and I love BoA and FIA too.

Re: Another Love BoA Thread

Anonymous — Fri, 09 May 2008 19:15:50 GMT

BOA has been great to me with CLI and easy to work with. $12,000 car loan, and $20,000 in CCs with 1 inquiry.

Re: Another Love BoA Thread

nicemann — Sat, 10 May 2008 02:04:56 GMT

FretlessMayhem wrote:
BOA has been great to me with CLI and easy to work with. $12,000 car loan, and $20,000 in CCs with 1 inquiry.

Yeah when it's time to buy a new car...I am going with them too

Re: Another Love BoA Thread

Anonymous — Sat, 10 May 2008 06:48:10 GMT

They've been great to me, too. Two CCs with high limits, car loan with super low rate (4.9% on a used car), I'm a huge BofA fan. I hope they are this generous when I am ready to buy a house!

Re: Another Love BoA Thread

nicemann — Sat, 10 May 2008 20:03:18 GMT

Wow BoA does not play around. Logged onto my BoA account online and it already had the two new credit cards linked. So I figured I would check out my CreditCheckTotal and both accounts were already posted and they adjusted my CL with the other one. They don't play around. Cards are probably not even mailed yet.

Re: Another Love BoA Thread

Anonymous — Sat, 10 May 2008 21:35:29 GMT

Ive had a 10 grand loan sitting never used. They transfered that onoto my CC Limit Of my platinum. so do it!

Re: Another Love BoA Thread

nicemann — Sat, 10 May 2008 23:27:33 GMT

Congrads!

NJ___Jon wrote:
Ive had a 10 grand loan sitting never used. They transfered that onoto my CC Limit Of my platinum. so do it!

Re: Another Love BoA Thread

Anonymous — Sun, 11 May 2008 04:48:52 GMT

BoA ROCKS , Congrats Vicki

Re: Another Love BoA Thread

wmarat — Sun, 11 May 2008 21:38:03 GMT

BOA has been very good to me. I arrived to the States 2 years ago and started with BOA secured card, now I have 30k unsecured credit with them.

Re: Another Love BoA Thread

Anonymous — Sun, 11 May 2008 23:00:49 GMT

BoA does seem to be very good with the CLIs in 'my' (well, my husband's) experience. When we got married a year ago I was determined to turn around his not-so-great credit and had to start building mine from scratch (I'd only just moved here from the UK) - first thing I did was use some of my savings to pay off the $5000+ balance on his $6000 limit BoA card, because the interest rate was so bad. (Not to mention the high util, of course). INSTANT, unasked-for CLI to $11,000. We've barely touched the card since then, but a couple of months ago discovered they'd put the limit up to $16,000, again without even being asked - and even better, they'd reduced the interest rate so that instead of being the worst of his three cards, it's now the best. All without us asking for a thing.

I've heard many, many bad things about BoA, but am liking them for the fact that they've done all this stuff without us having to beg and grovel for it! Not to mention that the CLI couldn't have happened at a better time - just when we were trying to do a final boost on his credit scores to apply for a mortgage, they went and helped boost them that (tiny) bit further!

Message Edited by fevmlo on 05-11-2008 04:00 PM

Re: Another Love BoA Thread

Anonymous — Sun, 11 May 2008 23:34:43 GMT

Hi fevmlo,

First of all, Welcome to the States!

Secondly, as a longtime customer of BofA (10+ years)

I must agree that their customer service and willingness

to go the extra mile without asking is very refreshing these

days.

Thirdly, your testimonial is the exact opposite of some of the

negative press BofA has endured recently. Just as they took initiative

to raise your hubby's credit card limits, they also have not hesitated

to lower or eliminate home equity lines of credit when the situation

dictated. What BofA giveth, they also taketh away.

And lastly, it must have felt nice to pay down your husband's

balance after converting your super-strong GBP's to US Dollars!

It's nice to see someone getting extra mileage from the greenback these days...

Thanks again for sharing your story. Enjoy the weekend!

CanDo

"The right attitude is everything"

Re: Another Love BoA Thread

Anonymous — Sun, 11 May 2008 23:41:50 GMT

Any of you have a bankruptcy?

Are you all saying that after starting out with 3-500 secured cards, some of you ended up with $10,000.00 CLI in 1-2 years?

What does 99/300 mean?

Re: Another Love BoA Thread

Anonymous — Sun, 11 May 2008 23:52:21 GMT

99/300 means that in exchange for a $99 deposit

Bank of America sends you a credit card with a

$300 limit. That limit has now been raised to $500,

so the card is now called 99/500.

And yes, several people in this forum have started with

the 99/300 or 99/500 cards and grew them into unsecured

cards with $10,000 limits. Pretty cool, huh?

Edit to add: traditionally, BofA has been very BK-unfriendly.

However, given the changing financial climate these days

they are becoming more flexible...especially if you are or have

been a good customer. And a good entry point to re-establishing

credit with them has been the 99/300(or 500) partially secured card,

as well as their fully secured (dollar for dollar) cards.

Hope this helps.

CanDo

"The right attitude is everything"

Message Edited by CanDoAttitude on 05-11-2008 04:52 PM

Re: Another Love BoA Thread

Anonymous — Mon, 12 May 2008 00:01:17 GMT

I'll Say!

Thanks for clearing that up. I had seen the notation several times and always wondered about it. I thought that it might be an annual fee. Hmmmmmmm, I had applied for BOA a couple of months ago and was offered the secured card and turned it down! I figured, why should I accept a sescured card when I was getting unsecured cards from HSBC!

But if BOA is growing with people like THAT, I think I will try again in the summer. I have been on a crazy app spree though. I have had some good results, but I hope it does not deter my chances of getting one. I can deposit $99.00 for a $500.00 CL. Is that how all of their secured cards go, or are there some where you have to depostit 100%. I had to deposit 110% with my credit union.

I guess I need to go check their website now.

Ok, you answered my questions in your edit.

I actually had them 13 years ago. Paid them off and cancelled them simply because I did not need the card.

Message Edited by Changingmantra on 05-11-2008 04:54 PM

The only secured card listed on their website requires a dollar for dollar deposit.

Are they the only prime lender who offers a secured card?

Message Edited by Changingmantra on 05-11-2008 04:59 PM

Message Edited by Changingmantra on 05-11-2008 05:00 PM

Message Edited by Changingmantra on 05-11-2008 05:01 PM

Re: Another Love BoA Thread

Anonymous — Mon, 12 May 2008 00:11:55 GMT

No problem. Glad to help.

I should also point out that the 99/500 partially

secured card is a "counteroffer card" only.

This means you have to apply for one of their

unsecured cards and be turned down. As part

of your denial letter (snail mail or email) they may

offer the 99/500 card. If I am not mistaken, you can

apply for their fully secured cards at any time. Limits

range from $300 to $10,000 and the average time in

secured status is 9-12 months. In addition, many forum

members have reported that BofA will raise the credit

limit once it graduates to unsecured status.

So as you can see, it's a great card. Folks here really LUV it!

Edit to add: I know that Citibank offers a secured card but I'm not sure if

Chase does. American Express does not, but they do offer their Optima

program. There are lots of threads here in the room on that topic, so just

do a quick search for more details.

Your local bank or credit union may offer them as well. It's worth a call!

CanDo

"The right attitude is everything"

Message Edited by CanDoAttitude on 05-11-2008 05:11 PM