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BoA does not allow Product Changes/Downgrades from Premium Rewards CC

Established Member

BoA does not allow Product Changes/Downgrades from Premium Rewards CC

For a little background info: I have a cash rewards card, a MLB card (recently converted from travel rewards), and a premium rewards card. Trying to convert the premium rewards to another cash rewards to 1) avoid the $95 AF and 2) take advantage of the choose your own 3% category (5.25% with Platinum Honors status). I called in and submitted the request via the help of a friendly agent. All was looking fine, then I receive a letter in the mail saying that the premium rewards card is ineligble for a product conversion/downgrade. Quite ridiculous if you ask me. I understand not being able to convert, say, the Alaska credit card to cash rewards, but my request is dealing with BoA-branded cards.

 

Has anyone had any luck converting the BoA premium card? Warning to others if you plan on converting at a later date––likely not possible. The weird thing is you can convert FROM cash rewards TO premium rewards, but evidently not the other way around.

Message 1 of 8
7 REPLIES
Valued Member

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC

I think BoA is a bit inconsistent when it comes to PCs. I've read a lot of people calling multiple times to get a different CSR to get the PC done for their cards. As in, calling every 2 - 3 days to try your luck, until you get the CSR that is willing to perform the PC for you. Some have reported success after 4 - 5 tries Smiley Tongue

Message 2 of 8
Valued Contributor

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC

I guess I will be closing mine. If you want another card just close the Premium Rewards and get another card.  They have numerous cards with sign up bonuses and no annual fee. 

More cards than I can mention in a signature.
Message 3 of 8
Super Contributor

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC

It must be a fairly recent policy change as I have heard of people downgrading before. That said, I don't find it all that ridiculous. You signed up for a cerain card. There's no rule that says they have to let you downgrade it. They probably are counting on people to just keep paying the AF. This may backfire as some will just close the card altogether, but people with few credit cards may just keep it open.

 

You can try again as mentioned because BOA can inconsistent with PCs but a rule like this wouldn't shock me. Unfortunately people have abused downgrades across many lenders before and so now banks are having to change the rules.

Message 4 of 8
Moderator

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC


@netthier wrote:

I think BoA is a bit inconsistent when it comes to PCs. I've read a lot of people calling multiple times to get a different CSR to get the PC done for their cards. As in, calling every 2 - 3 days to try your luck, until you get the CSR that is willing to perform the PC for you. Some have reported success after 4 - 5 tries Smiley Tongue


I would try this approach OP.  Although there could be some mixed success, there hasn't been anything "official" that would state otherwise since if the card were truly restricted from any upgrades (aside from the CARD Act requirement), then any lateral PC from Cash Rewards (or others) would not be possible.

 

Typically, some restrictions may actually be at the product code level, not necessarily the entire portfolio.  Sometimes it can be overriden and other times it cannot.  It just depends on how your account was coded when approved.  Let us know if you decide to try again and what outcome, if any, was achieved.

 

 

Message 5 of 8
Moderator

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC

How long has the Premium Rewards card been open?

Message 6 of 8
Valued Contributor

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC

Has the annual fee actually been billed, or are you trying to make a preemptive strike?

Chase Sapphire Reserve • PenFed Power Cash Rewards • and five cards in the sock drawer

No CC debt • No bonus chasing • No app sprees • No gift cards • No AZEO • No airline incidentals • No hotel cards • No store cards • No business cards • No authorized users
Message 7 of 8
Valued Contributor

Re: BoA does not allow Product Changes/Downgrades from Premium Rewards CC

I had to HUCA 4-5 times to get my original CR updgraded to VS. Keep at it, OP!


TU FICO 8: 774 (1/19) — Ex FICO 8: 751 (2/19)
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