Bank of America Product Change/AF removal?

Anonymous · ‎12-10-2018

Hi everyone,

I opened my very first credit card 8 months ago, which was a secured BoA Cash Rewards Visa. About two months ago I was able to graduate it to an unsecured card and increased the CL from $500 to $1500. Since then I have opened a Chase Freedom and Amex Gold.

However, today realized that the Annual Fee on my BoA card was not removed when I graduated it. When I contacted customer support, they informed me that I could apply for a product change, but the AF would be transferred as well. She mentioned that once the AF is charged on my account she could explore the option of waving it, but emphasized she could not promise anything.

I don't use this card very often. I only wanted to keep it because it's my oldest account, so the AF is a deal breaker for me. I wanted to know if anyone else has faced/overcome this issue before I close the card.

Anonymous · ‎12-10-2018

I hope you can get rid of it somehow, but otherwise close. It's at most 8 months older than your other cards, so it won't make a huge difference even when it drops off.

RonM21 · ‎12-11-2018

+1
I'd close it. Not enough of a difference maker age wise to keep it.

Total CL: $321.7k

UTL: 2%

AAoA: 7.0yrs

Baddies: 0

Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

Anonymous · ‎12-11-2018

If I was looking to apply for the Chase Ink Preferred, would it be a good idea to do so before I close it? I'm not sure how banks view recently closed accounts.

Anonymous · ‎12-11-2018

@Anonymous wrote:
If I was looking to apply for the Chase Ink Preferred, would it be a good idea to do so before I close it? I'm not sure how banks view recently closed accounts.

Wouldn’t affect your application with Chase one bit.