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Credit Line Transfer gone wrong - Bank of America

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iamorme
Member

Credit Line Transfer gone wrong - Bank of America

This is a long one guys! So I had a BankAmericard Platinum Plus card with a $2.5k line for about 5 years. It was one of the first cards that I stuck with and ended up building a solid history with BoA. I liked the card and I liked BoA so I ended up opening a second checking account with them a couple years ago, too.

 

I got a new job about a year ago and I've been travelling more than usual which means putting expenses my credit card. I have a few other cards now, but my BoA card had the best interest rate, which helps because it can take a month or two before I get reimbursed. The only problem was the low limit -- I wanted to give myself some breathing room incase trips / reimbursements overlapped. So, I went for a CLI with the BoA Card but came up with a 7 day message. I eventually got a letter with the bad news. I ended up deciding to call one of BoAs recon numbers and I got ahold of someone who just flat out refused to increase the limit and told me that I'd be better of applying for a new card with them. The agent was pretty terse, and the call was pretty unpleasant -- they gave me no information and rushed me off the phone. I ended up feeling like I did something wrong! This had been first interaction with BoA in 5 years and it kind of sucked.

 

So a few weeks later, after researching rewards credit cards, I settled on the BoA Travel Rewards card for the low rate and no annual fee. I went ahead and applied and got the same 7 day message. I waited for the letter, and to my surprise I ended up being approved for a $2000 limit. I was pretty happy, but I still had the problem with the low limit. I did some quick google research and found out that BoA will do credit line transfers pretty easily, so I decided to give them a call and see if they'd transfer the Platinum Plus line over to the Travel Rewards card. I explained this to the agent on the phone and he sounded pretty confident, and said he put everything through. He moved $2000 from the PlatPlus over to the Travel Rewards card to bring me up to a $4000 limit on the Travel Rewards card-- this left me $500 on the PlatPlus. My plan was to just close the PlatPlus card eventually anyway.

 

The next day I logged into my BoA account online and saw that I only had $500 on my PlatPlus card and the Travel Rewards card still had $2000 on it. It looked like the $2000 from the PlatPlus just went missing. At first I assumed that it took some time to transfer, but that guy seemed pretty confident and even told me that he saw the new limit on the Travel Rewards card.

 

I gave it a couple days then called the bank again. I told this new guy the story and he told me it was done completely wrong, and I'd have to call back during the daytime because the 'existing credit' department had gone home. There's nothing he could do. I was pretty pissed but I let it go for a day or two more and then called back. This time I got a lady (who honestly didn't seem to give a **bleep**) and I told her my whole story. She also confirmed that the first agent had messed it all up -- he just reduced my credit line on the PlatPlus card and put in a credit limit increase request on my Travel Rewards card (resulting in a new Hard Pull). We went back and forth for a couple minutes, but there was nothing she could do. My $2000 was gone and they were still reviewing my CLI request. The only thing she said she could do was open an investigation and try to fix it, which takes 10 business days. I'm pretty unhappy and threaten to cancel my cards (which she was happy to do, btw!) -- nothing I said made a difference. Ultimately I was SOL but I wanted that card, so I decided to wait.

 

10 Business days go by and I hear nothing from BoA so I give them another call -- all they do is confirm exactly what both of the other agents said. The original guy messed it all up and there's nothing they can do. The $2000 is gone and I'd need to request ANOTHER CLI to get that back (with ANOTHER hard pull), and they were still looking into my CLI on the travel rewards card. I could believe it so I just canceled both cards. I had had enough of them. I get that I'm small potatoes in their book, but still - that was from begining to end the worst customer service experience I've ever had. So, I ended up with 2 hard pulls for 1 credit card application that just resulted in me closing two credit cards.

 

Has anyone else ever successfully transferred credit limits with BoA? Was it a fluke or has Anyone else have a similarly terrible customer service experience with BoA? Anyone think I can dispute the hardpulls or find a way to get them off my report?

Fico 8: [Eq] 708 | [TU] 714 | [Exp] 721
Amex BCE: $5k - Discover More: $2000 - Simplicity: $4800 - Discover It: $11000 - BarclayCard JetBlue: $5000 - Cap1 Quicksilver One $3.5k - Cap1 Savor: $10000 - Blispay $2.6k
11 REPLIES 11
KCC100
New Contributor

Re: Credit Line Transfer gone wrong - Bank of America

Bank of america is not good. I used have 2000 limit and they downgraded 500 as well.

Message 2 of 12
Anonymous
Not applicable

Re: Credit Line Transfer gone wrong - Bank of America


@iamorme wrote:

This is a long one guys! So I had a BankAmericard Platinum Plus card with a $2.5k line for about 5 years. It was one of the first cards that I stuck with and ended up building a solid history with BoA. I liked the card and I liked BoA so I ended up opening a second checking account with them a couple years ago, too.

 

I got a new job about a year ago and I've been travelling more than usual which means putting expenses my credit card. I have a few other cards now, but my BoA card had the best interest rate, which helps because it can take a month or two before I get reimbursed. The only problem was the low limit -- I wanted to give myself some breathing room incase trips / reimbursements overlapped. So, I went for a CLI with the BoA Card but came up with a 7 day message. I eventually got a letter with the bad news. I ended up deciding to call one of BoAs recon numbers and I got ahold of someone who just flat out refused to increase the limit and told me that I'd be better of applying for a new card with them. The agent was pretty terse, and the call was pretty unpleasant -- they gave me no information and rushed me off the phone. I ended up feeling like I did something wrong! This had been first interaction with BoA in 5 years and it kind of sucked.

 

So a few weeks later, after researching rewards credit cards, I settled on the BoA Travel Rewards card for the low rate and no annual fee. I went ahead and applied and got the same 7 day message. I waited for the letter, and to my surprise I ended up being approved for a $2000 limit. I was pretty happy, but I still had the problem with the low limit. I did some quick google research and found out that BoA will do credit line transfers pretty easily, so I decided to give them a call and see if they'd transfer the Platinum Plus line over to the Travel Rewards card. I explained this to the agent on the phone and he sounded pretty confident, and said he put everything through. He moved $2000 from the PlatPlus over to the Travel Rewards card to bring me up to a $4000 limit on the Travel Rewards card-- this left me $500 on the PlatPlus. My plan was to just close the PlatPlus card eventually anyway.

 

The next day I logged into my BoA account online and saw that I only had $500 on my PlatPlus card and the Travel Rewards card still had $2000 on it. It looked like the $2000 from the PlatPlus just went missing. At first I assumed that it took some time to transfer, but that guy seemed pretty confident and even told me that he saw the new limit on the Travel Rewards card.

 

I gave it a couple days then called the bank again. I told this new guy the story and he told me it was done completely wrong, and I'd have to call back during the daytime because the 'existing credit' department had gone home. There's nothing he could do. I was pretty pissed but I let it go for a day or two more and then called back. This time I got a lady (who honestly didn't seem to give a **bleep**) and I told her my whole story. She also confirmed that the first agent had messed it all up -- he just reduced my credit line on the PlatPlus card and put in a credit limit increase request on my Travel Rewards card (resulting in a new Hard Pull). We went back and forth for a couple minutes, but there was nothing she could do. My $2000 was gone and they were still reviewing my CLI request. The only thing she said she could do was open an investigation and try to fix it, which takes 10 business days. I'm pretty unhappy and threaten to cancel my cards (which she was happy to do, btw!) -- nothing I said made a difference. Ultimately I was SOL but I wanted that card, so I decided to wait.

 

10 Business days go by and I hear nothing from BoA so I give them another call -- all they do is confirm exactly what both of the other agents said. The original guy messed it all up and there's nothing they can do. The $2000 is gone and I'd need to request ANOTHER CLI to get that back (with ANOTHER hard pull), and they were still looking into my CLI on the travel rewards card. I could believe it so I just canceled both cards. I had had enough of them. I get that I'm small potatoes in their book, but still - that was from begining to end the worst customer service experience I've ever had. So, I ended up with 2 hard pulls for 1 credit card application that just resulted in me closing two credit cards.

 

Has anyone else ever successfully transferred credit limits with BoA? Was it a fluke or has Anyone else have a similarly terrible customer service experience with BoA? Anyone think I can dispute the hardpulls or find a way to get them off my report?


I am sorry to hear about this. I have not ever dealt with Bank of America after reading this I am glad that I stuck with Discover when it came to major cards. Capital One can be equally awful btw called them once was awful told me I was the one who made the fraudulent charges long story.

 

I have noticed that threatening to close cards and go elsewhere does not bother CSR's even those working at struggling retailers ( I threatened to shop somewhere else and the woman at Stage was extremely happy about that). 

Message 3 of 12
Anonymous
Not applicable

Re: Credit Line Transfer gone wrong - Bank of America

I am so sorry to hear about your experience!  My first account with BoA was over 20 years ago.  I opened a savings account and got a credit card.  The CC limit was low - I think it might have been $300 or $500? Anyway, I was a dumb teenager and burned them after closing my bank account.  Last year I did get back in with them, just for revolvers, and except for the lower than expected CL on my BankAmericard, the customer service there has been pretty good to me.  I've called them a few times with account questions but not asked about any CLIs.  Since I'm in the garden for 2018, I think I'll avoid calling them this year.  I was considering transferring limits between accounts like you, but I think the advice to open a new account instead is probably the best route next year.  Sorry again and thanks for sharing your story! 

Message 4 of 12
AverageJoesCredit
Legendary Contributor

Re: Credit Line Transfer gone wrong - Bank of America

Wow that stinks big time. Youd expect proper treatment but to get so much runaround and not even get your limit thats not cool. I for one would never do business with someone like that if it happened to me. Its a shame when you get treated differently just because one may not be a big fish. Perhaps you could file a complaint and see if you could get one of the hps removed? . Not sure itll work but worth a shot?
Message 5 of 12
kdm31091
Super Contributor

Re: Credit Line Transfer gone wrong - Bank of America

Unfortunately, human error can and does happen. Threatening to cancel isn't going to help you because in most cases there is no magic "undo" button. If someone has made it clear they are unable to help you, move on to the next level. Threatening is a waste of time if the person isn't empowered to change anything anyway.

 

It's not so much that threatening doesn't bother a CSR at a retailer, bank, whatever -- it's that if they aren't empowered to help you, they aren't empowered to help you. You just have to move to the next level. Escalate until you can get this resolved.

Message 6 of 12
iamorme
Member

Re: Credit Line Transfer gone wrong - Bank of America

Yeah, I knew that it wouldn't matter -- but in the end I really had nothing left to keep with BoA. I may have overreacted a little bit at the time, but I'm not regretting closing the cards. I think I'm going to write in and see if I can get those HPs removed.

Fico 8: [Eq] 708 | [TU] 714 | [Exp] 721
Amex BCE: $5k - Discover More: $2000 - Simplicity: $4800 - Discover It: $11000 - BarclayCard JetBlue: $5000 - Cap1 Quicksilver One $3.5k - Cap1 Savor: $10000 - Blispay $2.6k
Message 7 of 12
kugel
Valued Contributor

Re: Credit Line Transfer gone wrong - Bank of America

All I can tell u Bofa is a sneaky dirty bank
Known by closing accounts and cld without giving u any notice ,

Message 8 of 12
CreditCuriosity
Moderator Emeritus

Re: Credit Line Transfer gone wrong - Bank of America

I didn't read the whole post but basically it sounded like part of a CLI went missing as you reallocated limits?  If so and it was already a HP.. HP's with BofA are usually good for a month time frame and they should reuse that one if you were to request a CLI by the button on the card.  Please forgive if I misread something on your originanl post as just skimmed it while at work waiting for a program to compile.  I assume this might not be the case though do to others not already suggesting this and pretty common knowledge a HP is good for a month with bofa.  Although if you mesh the button again it is always a YMMV type of thing as it should use the same HP if within the last 30 days of incurring the HP and new one certainly could happen.  All my experiences with BofA has been 1 HP good for multiple cards, cli's etc. within that time frame

Message 9 of 12
lg8302ch
Senior Contributor

Re: Credit Line Transfer gone wrong - Bank of America

Sorry to hear that this CL transfer ended up so terrible.  I have never juggled with limits on my BofA cards so not sure if that is even an option but whenever I requested a CLI I have always done it for both accounts with 1 HP as the pull is good for 30 days.  So it is very strange that nobody was able to use the same pull for CLI and even after 10 days had no solution and a fix to something they messed up.  You really got terrible service. 

Message 10 of 12
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