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Bank of America Cash Rewards Closed by Grantor

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uoyankee
New Contributor

Re: Bank of America Cash Rewards Closed by Grantor


@Remedios wrote:

Glad I'm not losing my mind 

 

https://ficoforums.myfico.com/t5/Credit-Cards/Bank-of-america-account-closed/td-p/5998266 

 

https://ficoforums.myfico.com/t5/Credit-Cards/Bank-of-America-closed-my-credit-card-accounts-after-a... 

 

 


I was about to add my kids, maybe I should hold off or pick or another bank to add them.  BofA is my oldest though so figured they'd be the best.  I'd need another one without age limits too. 

Message 11 of 16
Remedios
Credit Mentor

Re: Bank of America Cash Rewards Closed by Grantor

I don't think AUs are the only and sole reasons, otherwise how many would still have cards?

I think AUs might be a tipping factor when other issues are present.

In any case, it's always good to limit number of AUs so it doesn't look like one is selling TLs 🤷‍♀️ 

Message 12 of 16
ChargedUp
Senior Contributor

Re: Bank of America Cash Rewards Closed by Grantor

I remember reading about BoA being sensitive to adding AU's around here as @Remedios stated. I know some people add their caretaker or a friend who runs errands for them as AU's to a card, but BoA seems to really take heavy exception to adding anyone who isn't immediate family.

 

Why they're so sensitive to this is anyones' guess. Amex and Discover dang near beg me to add more AU's and offer me bonuses for it, so I add one of the kids when they make an offer.

Message 13 of 16
longtimelurker
Epic Contributor

Re: Bank of America Cash Rewards Closed by Grantor


@ChargedUp wrote:

 

 

Why they're so sensitive to this is anyones' guess. Amex and Discover dang near beg me to add more AU's and offer me bonuses for it, so I add one of the kids when they make an offer.


But just remember in the great credit card game, this doesn't mean that one day Amex/Discover won't AA you for "too many AU.   Yes, we asked you to add them but now we don't like it!"

Message 14 of 16
ChargedUp
Senior Contributor

Re: Bank of America Cash Rewards Closed by Grantor


@longtimelurker wrote:

@ChargedUp wrote:

 

 

Why they're so sensitive to this is anyones' guess. Amex and Discover dang near beg me to add more AU's and offer me bonuses for it, so I add one of the kids when they make an offer.


But just remember in the great credit card game, this doesn't mean that one day Amex/Discover won't AA you for "too many AU.   Yes, we asked you to add them but now we don't like it!"


So far, so good... The most AU's I have are on BCP and Discover and that's 3 (2 daughters and the wife.), otherwise I've spread the kids out on other cards. DW is the only AU on all of them. (Getting her on AOD was a pain!) 

 

I'll never add anyone else to my personal BoA card, especially with the limit it has.

Message 15 of 16
Zosimus
Regular Contributor

Re: Bank of America Cash Rewards Closed by Grantor

Update:

 

Bank of America sued. Agrees to settle.

 

After Bank of America closed my account, I applied to have my cash rewards out and I paid the account down to zero. The person I spoke to on the phone said that because the account was closed, those cash rewards would have to be handled by another department. About a week later, I got an (Mod cut - not here, please @Zosimus -- please be mindful of TOS) letter from BofA saying they were going to keep those cash rewards because the account was closed.

 

As it so happens, I owed $814 on the account, but I screwed up and paid $841 leaving a $27 credit balance. I let that amount stew for several months, then sued for $27. Their paralegals hurried to send me a check for $27, but I ignored that check. The amount was then $27 + $40 (process server) + $25 filing fees.

 

Since BofA didn't answer the complaint (rather just sent me a check for $27) I applied for a default judgement. I got a call from BofA offering me $150 to settle the matter. But, they want a W9 from me.

 

What does that mean? Do they plan to 1099 me for the settlement amount?


Message 16 of 16
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