topic Re: Cancelled my BOA card in Credit Cards

Cancelled my BOA card

black_citi — Thu, 06 Nov 2014 00:34:17 GMT

I thought about for about 2 months. Back and forth. I got the card in May 2014 and was using it heavily. It was the 123 card, my first rewards card. The problem was it had a measly $500 limit while my other 2 cards at the time had a $1000 and 10k limit. I dealt with it.

Eventually I stopped using it. I recently apped for 3 more credit cards and got approved for them. All have at least a 1k or more limit. I hit the luv button with boa for an extra $500 but they countered and only gave me a $100 increase.

Then I got a pre approval offer in the mail about a week and a half after I hit the semi luv button with boa for the first national bank visa card. I looked it over. No af, which is always nice but I thought 2 things. First thought was first national will decline since I went on a nice little spree over a week ago. Second thought was even if approved my limit would be $500 or less.

I apped and was approved for $1000. I guess BOA dislikes me. I never banked with them before or had any loans from them but its the same situation with Citi and they gave me an initial limit of 1k back in Jan. Oh well. The rep I talked to was cool but I really never cared for BOA anyway. That 123 card was my first rewards and it was fun while it lasted. I thought to just SD it since it has no AF but I have an issue with keeping cards open I no longer use. I get nervous for some reason.

I took a small hit to my utl and AAOA but I don't plan to apply to any new cards for at least a year.

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 00:46:58 GMT

Personally imo not a wise idea. With time comes limit increases and the BOA Cash Rewards card is a top tier card. 400 more limit on a card not as good. Why didn't you just sock drawer it and wait?

Re: Cancelled my BOA card

uswala — Thu, 06 Nov 2014 00:47:51 GMT

@Anonymous wrote:
Personally imo not a wise idea. With time comes limit increases and the BOA Cash Rewards card is a top tier card. 400 more limit on a card not as good. Why didn't you just sock drawer it and wait?

+1.

You should have just ignored that card for now.

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 04:18:49 GMT

should have product changed to the better balances. Have them pay you for barely using the card

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 04:33:00 GMT

@Anonymous wrote:
should have product changed to the better balances. Have them pay you for barely using the card

Getting the wife to app this one next year.

Re: Cancelled my BOA card

uswala — Thu, 06 Nov 2014 04:36:36 GMT

@Anonymous wrote:
@Anonymous wrote:
should have product changed to the better balances. Have them pay you for barely using the card
Getting the wife to app this one next year.

Same here

Re: Cancelled my BOA card

Luscher — Thu, 06 Nov 2014 04:46:53 GMT

BOA is very generous on CLI's when you ask for them. at least they were for me

Re: Cancelled my BOA card

HiLine — Thu, 06 Nov 2014 04:49:43 GMT

@Anonymous wrote:
Personally imo not a wise idea. With time comes limit increases and the BOA Cash Rewards card is a top tier card. 400 more limit on a card not as good. Why didn't you just sock drawer it and wait?

Yup, canceling a no-AF credit card is almost never a good idea. In fact, Bank of America is one of the most generous credit issuers with credit limits. Most, if not all, of the 5x or 10x CLI's reported on this forum have come from Bank of America. Usage is the key.

Re: Cancelled my BOA card

gingerflower — Thu, 06 Nov 2014 05:33:34 GMT

Totally agree boa is a great bank.I have an Alaska air and a cash rewards signature card. Love boa..

Re: Cancelled my BOA card

-Cal- — Thu, 06 Nov 2014 05:44:26 GMT

Definitely should have PC'd to the Better Balance Rewards card, easy $100 every year to pay the AF for another card.

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 06:05:44 GMT

You should have kept the card. Especially since it's no annual fee.

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 06:30:17 GMT

@Anonymous wrote:
You should have kept the card. Especially since it's no annual fee.

Too many stories like this. People doing something dumb and then asking after the fact. What's the point?!? "Gee, I stabbed my neighbor eight times, the police are knocking on my door, do you think it was a bad idea?..."

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 06:32:26 GMT

Call and get that card back asap.

Re: Cancelled my BOA card

Chris679 — Thu, 06 Nov 2014 07:08:52 GMT

I hate to pile on here but I see a couple issues here:

1-You say they didn't like you but you only had the card for 5 months! That's no time at all, most of my cards will only do CLI every 6 months.

2-You are comparing this card in a negative light to these other cards with $500 higher limit which is very insignificant in the grand scheme of things. Think long term not short term.

Re: Cancelled my BOA card

lg8302ch — Thu, 06 Nov 2014 07:46:39 GMT

IMO a bad move but what is done is done. For your future actions on credit please remember "credit is a marathon" not a "race" ... be patient.. I mean you had this card for only 5 months ... that is really nothing. It takes years to grow CLs and BofA has always been very generous to me. One example: Discover had started me at 2,5K when all my other accounts were 5K+ already and did not grow for 15 months.. what did I do? Patiently waited and tried the love button again and again and all the suddden it moved to 10K within the next 6 months. (2,5K - 5K - 7,5K and just recently 10K, I am done now) If I had given up at 5 months already I would miss the nice card and limit today.

Re: Cancelled my BOA card

MarineVietVet — Thu, 06 Nov 2014 07:55:38 GMT

@Anonymous wrote:
@Anonymous wrote:
You should have kept the card. Especially since it's no annual fee.

Too many stories like this. People doing something dumb and then asking after the fact. What's the point?!? "Gee, I stabbed my neighbor eight times, the police are knocking on my door, do you think it was a bad idea?..."

To paraphrase an old saying "He who has never done anything dumb concerning credit raise their hand".

We've ALL done something that in hindsight was not exactly the wisest move but that's because we're human and mistakes are part of the learning process. Heck I still make mistakes and am confident that I will make more in the future.

Re: Cancelled my BOA card

joedtx — Thu, 06 Nov 2014 08:09:33 GMT

@MarineVietVet wrote:
@Anonymous wrote:
@Anonymous wrote:
You should have kept the card. Especially since it's no annual fee.

Too many stories like this. People doing something dumb and then asking after the fact. What's the point?!? "Gee, I stabbed my neighbor eight times, the police are knocking on my door, do you think it was a bad idea?..."

To paraphrase an old saying "He who has never done anything dumb concerning credit raise their hand".

We've ALL done something that in hindsight was not exactly the wisest move but that's because we're human and mistakes are part of the learning process. Heck I still make mistakes and am confident that I will make more in the future.

+1 Well said sir ! Sometimes emotion can overule our better judgement, who hasn't made a decision or two that we wish we could take back.....No worries OP you'll still move forward.

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 10:57:36 GMT

@black_citi wrote:
I thought about for about 2 months. Back and forth. I got the card in May 2014 and was using it heavily. It was the 123 card, my first rewards card. The problem was it had a measly $500 limit while my other 2 cards at the time had a $1000 and 10k limit. I dealt with it.

Eventually I stopped using it. I recently apped for 3 more credit cards and got approved for them. All have at least a 1k or more limit. I hit the luv button with boa for an extra $500 but they countered and only gave me a $100 increase.

Then I got a pre approval offer in the mail about a week and a half after I hit the semi luv button with boa for the first national bank visa card. I looked it over. No af, which is always nice but I thought 2 things. First thought was first national will decline since I went on a nice little spree over a week ago. Second thought was even if approved my limit would be $500 or less.

I apped and was approved for $1000. I guess BOA dislikes me. I never banked with them before or had any loans from them but its the same situation with Citi and they gave me an initial limit of 1k back in Jan. Oh well. The rep I talked to was cool but I really never cared for BOA anyway. That 123 card was my first rewards and it was fun while it lasted. I thought to just SD it since it has no AF but I have an issue with keeping cards open I no longer use. I get nervous for some reason.

I took a small hit to my utl and AAOA but I don't plan to apply to any new cards for at least a year.

should have product changed to the better balances

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 11:05:29 GMT

@-Cal- wrote:
Definitely should have PC'd to the Better Balance Rewards card, easy $100 every year to pay the AF for another card.

i agree and if you have a BOA Checking or Savings account you actually get $120 a year instead of the $100 .... https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go

Re: Cancelled my BOA card

Anonymous — Thu, 06 Nov 2014 12:56:18 GMT

@Anonymous wrote:
@-Cal- wrote:
Definitely should have PC'd to the Better Balance Rewards card, easy $100 every year to pay the AF for another card.
i agree and if you have a BOA Checking or Savings account you actually get $120 a year instead of the $100 .... https://www.bankofamerica.com/credit-cards/products/better-balance-rewards.go

When BoA offers me $200+ account open bonus to bring my direct over, I'll entertain the thought.

They'll need to remove me from that silly little Blacklist too!