topic Re: Can I convert a BOA AAA World Points Visa Signature? in Credit Cards

Can I convert a BOA AAA World Points Visa Signature?

Anonymous — Sat, 13 Sep 2014 13:27:17 GMT

I've been reading this forum and am still learning the lingo, so bear with me. :-) I have a total of 4 credit cards (three Visa and one Amex), which is one more than I want. I like to maintain three open credit lines in the event that I need a new mortgage, but I also believe in simplicity and don't want to keep track of a lot of accounts.

The card I use least, since it has fairly lame rewards, is also my oldest card: a Bank of America World Points AAA Visa Signature card. I've had it for 17 years (although I think it started life at a different bank as a Visa Gold card). Despite this, I'm tempted to close the account because I know it will stay on my credit report for another 10 years, during which time my other accounts will age. I don't believe closing my account will substantially hurt my credit score.

Having said that, a thought occurred to me. My family and I travel overseas about once a year, and I'd like to have another card that doesn't charge foreign transaction fees. I see that BOA has a Travel Rewards Visa Signature card that fits the bill. Can I convert my existing BOA card to the Travel Rewards card and still maintain my 17-year history on my credit report?

Re: Can I convert a BOA AAA World Points Visa Signature?

SpendWisely — Sat, 13 Sep 2014 13:59:41 GMT

First off, I would never close an account with such a long history if it has no annual fee. I'd sockdrawer it and charge something to it maybe once every 6 months so BofA keeps the account open. Your idea to product change to a card in BofA's suite that is more suited to you is a great one. You can likely change cards to the Travel Rewards card, thus keeping your 17 year history. Give them a call and see what they say -- and let us know how it goes!

Re: Can I convert a BOA AAA World Points Visa Signature?

lhcole77 — Sat, 13 Sep 2014 14:04:36 GMT

From what I've read they are good at PCs

Re: Can I convert a BOA AAA World Points Visa Signature?

Anonymous — Sat, 13 Sep 2014 21:53:23 GMT

Absolutely can. You will keep your current APR, credit limit and annual fee if any. Process is slow. They batch conversions on Sunday nights and then produce cards in a batch one weeks after that.

Re: Can I convert a BOA AAA World Points Visa Signature?

FinStar — Sun, 14 Sep 2014 20:34:57 GMT

@Anonymous wrote:
Absolutely can. You will keep your current APR, credit limit and annual fee if any. Process is slow. They batch conversions on Sunday nights and then produce cards in a batch one weeks after that.

You can let the CSR which product you would like to convert to, such as the Cash Rewards, Travel Rewards or Better Balance Rewards depending on your intetions for usage. The conversion process can take anywhere from 30-45 days (sometimes less depending on the product).

Re: Can I convert a BOA AAA World Points Visa Signature?

trumpet-205 — Sun, 14 Sep 2014 22:41:03 GMT

@SpendWisely wrote:
First off, I would never close an account with such a long history if it has no annual fee.

Just so you know closing an account has no impact on AAoA. It stays on your credit report for 10 years.

Re: Can I convert a BOA AAA World Points Visa Signature?

Anonymous — Sat, 20 Sep 2014 10:51:10 GMT

I wanted to follow up on this thread that I started. I chatted with a BOA rep online this morning and was able to convert my AAA World Points Visa Signature to a Travel Rewards Visa Signature. I should receive the new card in 2-4 weeks. The rep said that my credit limit and APR will remain the same, and that converting the card will maintain my 17-year credit history with the card rather than restarting it. However, he did say that the card would have a new number.

Thanks to everyone for their help and suggestions!

Re: Can I convert a BOA AAA World Points Visa Signature?

Anonymous — Sat, 20 Sep 2014 10:54:13 GMT

Congrats!