I have an old MBNA card from 16 years ago that converted to (after many changes) a card that BOA is now calling a "Visa Platinium Plus" card, which seems not to exist any more for new applicants. I'm trying to figure out what to do with it.
Reasons to keep it: 8.9% Fixed APR, decent CL ($25k), it's my second oldest card.
Reasons to not keep it: awful rewards, no chance of CL growth (this product is capped at $25k CL and I want the opportunity to grow CL to $40k+ to meet my spending needs as a daily driver).
Thoughts on how to handle? Think it's possible to PC and keep account history and low fixed interest rate?
Thanks!
Just my own personal thoughts of course, but I would keep the card for the 8.90% F interest rate alone, just in case an emergency happened and I ever needed to revolve a balance...in today's CC world, at least when it comes to banks, 8.90% is unheard of, and currently no longer attainable... 
The only viable way to come close to or around 8.90% F, afaik, is through a handful of credit unions that offer fixed-rate APRs that are below 10%.
You can product change the card to any of the core BOA cards (not cobranded like Air France/KLM), but it takes BOA a while to do so and may require hanging up and calling again if the CSR does not know how to handle a product change. You can definitely keep the account history but the APR may be questionable.
There is no cap on credit lines on acquired MBNA cards. If you were denied a CLI, I would double check the reason. How long has it been since you asked? The $99,900 Platinum Plus and $90,000 Travel Rewards in my signature both started as MBNA cards.
Thanks K. I found an old product description for the Platinum Plus that suggested the product maxed at $25k. But that info was back when the product was live. Maybe they changed things since it was retired?
Just to make sure I'm reading your post correctly, are you saying that the $99.9k card in your sig is a Platinum Plus card?
@audioman00 wrote:Thanks K. I found an old product description for the Platinum Plus that suggested the product maxed at $25k. But that info was back when the product was live. Maybe they changed things since it was retired?
Just to make sure I'm reading your post correctly, are you saying that the $99.9k card in your sig is a Platinum Plus card?
No problem. MBNA cards can be kind of weird with BOA as they'll retain some terms and features, but credit line caps are not one of them. "Platinum Plus" is a catch-all for Bank of America cards that either have limits below $5000 or have been inherited from other lenders like MBNA and were not Visa Signature or World (or World Elite) MasterCard products.
Yes, the card is a Platinum Plus; as it's a bit of a rarity, the only image I could find that is close to the actual design is the Cash Rewards Visa Signature version available to new applicants.
@K-in-Boston wrote:
@audioman00 wrote:Thanks K. I found an old product description for the Platinum Plus that suggested the product maxed at $25k. But that info was back when the product was live. Maybe they changed things since it was retired?
Just to make sure I'm reading your post correctly, are you saying that the $99.9k card in your sig is a Platinum Plus card?
No problem. MBNA cards can be kind of weird with BOA as they'll retain some terms and features, but credit line caps are not one of them. "Platinum Plus" is a catch-all for Bank of America cards that either have limits below $5000 or have been inherited from other lenders like MBNA and were not Visa Signature or World (or World Elite) MasterCard products.
Yes, the card is a Platinum Plus; as it's a bit of a rarity, the only image I could find that is close to the actual design is the Cash Rewards Visa Signature version available to new applicants.
That makes my decision way easier. I'll keep it and request a CLI in the future. Thanks!
No problem at all. You can request online and even though it says a credit pull is required, they stopped doing these in 99.9% of cases in May 2018 (much to my chagrin; it took a LOT of earlier HPs to get those limits up there!) but never updated the wording. You can shoot for the moon when asking for an amount and if eligible, they will counter-offer. Generally, as long as your credit profile and income support it you can keep asking every 3-6 months unless and until you get the "Insufficient deposit balances with Bank of America, Merrill Lynch, Merrill Edge, or its partners" reason - which for a number of us seems to have happened at $99,900.