NEVER use BofA for risky purchases...

[nyancat]

So, I disputed a purchase on my B of A Travel Rewards card. I was sold counterfeit goods on eBay, this was NOT a case of my card info being compromised - PayPal had that (I am past their 60 day limit though before I discovered the fraud).

Bank of America proceeded to CLOSE my account and mark it as closed - disputed on my credit report! They tell me they're opening a new account for me, and my rewards points will transfer (they better, I had about $130 worth) but the whole experience is very souring, especially not getting a quick call or email to tell me not to try using the card! Just, closed, no warning.

Not as good for travel but for some daily spending uses on riskier purchases, I just app'd for the BCE. Got a $5k limit but oh well.

[Revelate]

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@nyancat wrote:

So, I disputed a purchase on my B of A Travel Rewards card. I was sold counterfeit goods on eBay, this was NOT a case of my card info being compromised - PayPal had that (I am past their 60 day limit though before I discovered the fraud).

Bank of America proceeded to CLOSE my account and mark it as closed - disputed on my credit report! They tell me they're opening a new account for me, and my rewards points will transfer (they better, I had about $130 worth) but the whole experience is very souring, especially not getting a quick call or email to tell me not to try using the card! Just, closed, no warning.

Not as good for travel but for some daily spending uses on riskier purchases, I just app'd for the BCE. Got a $5k limit but oh well.

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Usually BOFA will close the one account and migrate the history, same as a lost / stolen card and the other will drop off your report.  

Don't think it'll be an issue, if it is, simply call them and tell them to fix it: can't see why they wouldn't in this case, but it took a bit of time when my own BOFA card got fraudulently used.

[nyancat]

It's an issue because:

1. My card was never compromised, the transaction was processed through PayPal. It's a huge hassle and a couple weeks of inability to use my account.

2. Reporting the tradeline as closed and disputed has the potential to look bad for the next ten years in a home/auto loan situation where my credit file is reviewed. What if they think I fought paying my bill, rather than disputing a charge?

[Meltdownblitz]

Let me add Citi to this list. I purchased 2 of the same items in different colors. One on Citi card and one on Chase card. Turns out both items were counterfeit, Chase reimbursted me without any issues, no paperwork, no hassle, nothing. Citi, sent me a couple pages of paperwork, lots of questions, turned out I was correct but they couldn't reimburst me, instead they gave me a $50 credit for the inconvinence of a roughly $250 charge. I ate the $200 so I wouldn't get any baddies on my CR. Let me just say thats the last time I trust Citi, they are now at the bottom of my SD.

[Anonymous]

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@nyancat wrote:

It's an issue because:

1. My card was never compromised, the transaction was processed through PayPal. It's a huge hassle and a couple weeks of inability to use my account.

2. Reporting the tradeline as closed and disputed has the potential to look bad for the next ten years in a home/auto loan situation where my credit file is reviewed. What if they think I fought paying my bill, rather than disputing a charge?

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1. probably due to miscommunication with the CSR.

2. WF did the same for me when I disputed a charge. Eventually the old account disappears, though the new account had a "dispute" notation until about 30-60 days after the dispute was over. During the meantime it looks a little uglier on my CR, and accounts in dispute are sometimes not factored into consideration process by the lender, so in a way it did some temporary "damage" since WF is my oldest account. Not a big deal though. Just wait it out.

[USF813]

Sometimes CC companies are a bit over zealous in the fraud department. My credit union froze my Visa when I made a purchase at Walmart. I bought some items up front while waiting for new tires. When I went to pay for the tires my card was declined and froze for two days.

[nyancat]

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@USF813 wrote:
Sometimes CC companies are a bit over zealous in the fraud department. My credit union froze my Visa when I made a purchase at Walmart. I bought some items up front while waiting for new tires. When I went to pay for the tires my card was declined and froze for two days.

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Yeah, it's ridiculous. Hopefully the EMV transition will help decrease how easily they get spooked.

[navigatethis12]

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@nyancat wrote:

It's an issue because:

2. Reporting the tradeline as closed and disputed has the potential to look bad for the next ten years in a home/auto loan situation where my credit file is reviewed. What if they think I fought paying my bill, rather than disputing a charge?

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I doub this would happen, but even if it did, couldn't you just explain to them what happened? An account showing as disputed does not harm your credit in any way other than not counting for scoring purposes. No underwriter is going to crticise or think negatively of you just because one account is showing as that. If you had 9 out of 10 then maybe they would question it.

[creditfan]

+1000000000000000

I have been VERY VERY bad experienced with BofA

long story short

I've closed from saving, checking and now about to my CC as well

anytime I chat online with their CSR with certain issues, they always tend to give me blad blad number to call

THAT IS NOT THE HELPING

'thumb down"

[nyancat]

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@creditfan wrote:

+1000000000000000

I have been VERY VERY bad experienced with BofA

long story short

I've closed from saving, checking and now about to my CC as well

anytime I chat online with their CSR with certain issues, they always tend to give me blad blad number to call

THAT IS NOT THE HELPING

'thumb down"

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Yeah, my customer service experience was also terrible. This was just the straw... I'll still use the card overseas (no FTF EMV), and occasionally to keep it open, but for the most part I'm done with it.