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Frustration with BOFA. Time to cut ties possibly.

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Super Contributor

Re: Frustration with BOFA. Time to cut ties possibly.

Other than wanting a higher CL, what do you value from this card?

I closed two BofA cards in the last year, actually three, because the advantage of the cards was not there. No BofA remains. I may get an AK Air card again later, or not.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 11 of 24
Community Leader
Super Contributor

Re: Frustration with BOFA. Time to cut ties possibly.


@NRB525 wrote:
Other than wanting a higher CL, what do you value from this card? Nothing, lol. I have better cards than this one, I just "want" the higher CL, its a challenge for me. (at least Im honest about it), LOL

I closed two BofA cards in the last year, actually three, because the advantage of the cards was not there. No BofA remains. I may get an AK Air card again later, or not.

@NRB525  see above


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 12 of 24
Moderator

Re: Frustration with BOFA. Time to cut ties possibly.


@pizza1 wrote:

@FinStar , LOL...I cant give bofa any money, because they are building a new huge Chase branch 15 min from me, (1st for our state!!), and Ill need it for them, LOL . PLus Chase threw me the Amazon Visa $3K SL 2 1/2 yrs ago on my 10th recon, and they were IIB remember?? Smiley Happy

 

@K-in-Boston , yea I have only 3 yrs and 8 months till reports are clean, thats not that long in the whole scope of things. The problem is my patience....I have thin to none, LOL. I did wait 3 yrs for my Sams MC CLI though, but it was already at $15k, not $800, lol, and PF I waited 2 1/2 yrs for a CLI, but again, the limit was already at $5k. I do better waiting if my limit is somewhat decent. HA!

 

@Obscure-Expert , have you met me?! LOL..Im the queen of recon. Thats how I got Chase a few years back, and they were IIB! Believe , me when one doesnt work, I DO go to the next and try someone else or something different. My reports reflect that in New accts and INQ, LOL Smiley Wink But good information, thanks for sharing! 


Ah yes.  That makes sense.  More or less, I could see the hesitation in parking funds with BoA since their typical deposit account would require $1,500 ADB to avoid any fees and/or other qualifying activities.   So, I suppose you can hold on to them pennies when Chase arrives in your area.  Which btw, thatis ggreat news since they have been recently expanding in a variety of new markets. 

Message 13 of 24
Valued Contributor

Re: Frustration with BOFA. Time to cut ties possibly.

Bank of America treats you great if you have a checking and savings account with them. If you don't have it they don't seem to want you as a customer.  

More cards than I can mention in a signature.
Message 14 of 24
Community Leader
Super Contributor

Re: Frustration with BOFA. Time to cut ties possibly.


@frogman1 wrote:

Bank of America treats you great if you have a checking and savings account with them. If you don't have it they don't seem to want you as a customer.  


Right!! I wish I had @Saleen099 unlimited income to make all these fantastic deposits everywhere, but I dont, lol. SO, unless something changes in the near future, I guess my CL will remain $800, Smiley Sad  Ive known that BOA is a relationship bank, but Im spread pretty thin already amoungst all the others I have accounts with. 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 15 of 24
Community Leader
Senior Contributor

Re: Frustration with BOFA. Time to cut ties possibly.

@pizza1 

 

Well I would cut my ties, but you know how I roll😂😂, probably not always my brightest moments 😕

EXP 753 TU 781 EQ 733
Message 16 of 24
Moderator

Re: Frustration with BOFA. Time to cut ties possibly.

I knew @Jnbmom or @pinkandgrey would visit this thread. They are our CC portfolio "cleaners" 😉😄
Message 17 of 24
Community Leader
Senior Contributor

Re: Frustration with BOFA. Time to cut ties possibly.

@FinStar  lol  @pinkandgrey  is soooo much more disciplined than I could ever be😁

EXP 753 TU 781 EQ 733
Message 18 of 24
Highlighted
New Contributor

Re: Frustration with BOFA. Time to cut ties possibly.

Close it.  You've had some great Approvals lately and CLI on much better cards.

Message 19 of 24
Established Contributor

Re: Frustration with BOFA. Time to cut ties possibly.


@pizza1 wrote:

BOFA and I just dont see eye to eye, and havent now 3 years.  I had a partialy secured card 3 years ago, that graduated to a CL of $1.5k, and sat there for a year and half, and always declined for CLI depsite good use to provide history, citing investment accounts etc, so I closed the card thinking it was a bucket card and not going anywhere. 

 

Fast forward to last year...reapplied, and approved on recon for the same card, but not secured, just regular approval but low SL of $800. Again, good use to show history, and its 15 months old, and same thing...CLI of any kind declined, citing lack of investments or deposit accounts, and that they are not willing to "extend" anymore at this time. 

 

This is exactly the time where I get very frustrated and decide to just close the darn thing. I really think that BOFA is just one of those lenders that isnt gonna budge or want to work with me, and Im not willing to deposit thousands of freaking dollars into the bank for a "possible" CLI on an $800 card, so we are at a stalemate!

 

So, thoughts on the situation? 

SD the card, and use for coffee every 6 months?

Close and forget it?

Be patient? (yea right..pizza1 patient?, HA!)


You remind me of Sonic the Hedgehog. You run so fast that the rest of the world cannot keep up unless in a race car.

If you really think you will not use the card then SDing it might be a good option. I would check into how that card fits into your life. The Cash Rewards has the 3% category as changeable.

Closing after using an HP is wasteful if anything. My guess is that BoA sees your inquiry list as a massive line of suitcases sufficient to fit a baggage car. The BoA underwriters are similar to Chase and your mother. They know what you are trying to do but they are not in the mood let it slide by until you reign in your credit demolitions.

If you cannot properly build a relationship then full separation is a possibility but I recommend you use your card as an attempt to improve your credit handling. BoA is no pushover and will resist your attempts to run them over by giving you that $800. Build your relationship while using BoA as your new counterbalance and they will grow with you as you mature credit wise.

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