BOA advice

[Anonymous]

I'm new to the forums but I really Like what I've seen so far.

About six months ago I got a call from Bank of America saying that my account was more than 30 days past due. I had set it up about three years previous on an automatic payment on their website. They gave me no explanation as to why they didn't take the automatic payment and I was hit with a 30 day late on my CRs. Needless to say I was pretty angry and transfered my balance to another card and closed the account. Since I've been looking at this board I've realized the error of my ways and have called them to reactivate the account (4 years of payment history and an 11k CL). I talked to an account representative yesterday and after a long time on hold she told me they were unable to delete the late payment because it's my responsibility to make sure the account is paid on time regardless of the automatic payments. After I got off the phone I typed up a GW letter and mailed it. Today, I sent the same GW letter via Planetfeedback and initiated a never late dispute online with all three CAs.

My question is how much of a difference should I see in my scores if 1. the account is reactivated with the late or 2. if it's reactivated and the late is removed.

My current scores are EQ 634, TU 648, and EX Vantagescore (I'm guessing FAKO)is 713.

Scorewatch says my current Utilization is 50% Which is about right as I have a Bestbuy card with about a $200 balance and a $1800 CL and a Cap1 with $1400 balance and no credit limit showing. If the BOA account comes back with the same 11k limit it should put my utilization well below 10%.

I also have a Judgement for $160 unpaid and several old paid collections showing. I'll leave that story for another post.

Any guesses?

[Anonymous]

I would reactivate the account...the $11K credit line alone makes it worthwhile. You could see a 20-point score bounce from that alone, and 30-day lates age rather quickly. See if you can use the CC to pay off that judgment (unless you're going to dispute it or try and get it removed) as unpaid judgments tend to spook loan agents and others doing manual reviews of your credit. Do the GW letter.

[Anonymous]

Okay, here's the judgment story.

I moved this to it's own thread.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=41311#M41311

Message Edited by kidwon on 09-15-2007 07:26 PM

[Anonymous]

I got a response letter form BoA today saying my request to reopen the account was not approved because I have a pattern of late payments on accounts with other creditors. It says they pulled Experian. Here's the thing, I have my Experian report in hand and the negatives are; My BoA card which shows 30 days as of May 2007 (the automatic payment issue), Jan 2004, and May 2003, several paid collections from medical bills dating 2003 and 2004, and a car loan that was paid off in Oct 2002, 30 days Jun 2002, Dec 2001 to Mar 2002.

Just to recap I have no lates on anything but the BoA (because their automatic payment gliched) since Jan 2004.

My accounts in good standing are five pages, about 12 different accounts.

There is a lot more positive than negative and I had been a Bank of America customer since March of 2000.

Should I try for a reconsideration? How would I go about doing that? If I can get this account reopened I have a feeling it will be a huge boost to my scores. Is there any hope?

[Anonymous]

I forgot to mention, I still have not heard anything on my GW letters.

I think I am going to go for a reconsideration. Any suggestions for the letter?

[Anonymous]

I would try to set up an appointment with a high ranking bank official in your area (not a suburban branch manager) someone like a vice president in charge of a metropolitan area. See them personally and lay out your case as you have here. BOA would probably have taken resposnsibility for any messed up autopays and deleted if you had A)asked more than once with different people and B)not closed the account Now you need intervention from someone with clout-that's why I'm suggesting you try this course.

[ozgirl]

I had the same experience with BofA. For many years my account was paid monthly through the ebill service with my BofA checking. Sometime in Nov 2006 things went awry and the ebill payment was not made. I contacted them, made the payments that were missed and asked that they make any corrections (fees etc...). This was done but they still report a 30 day late for January 2007. BofA is completely unresponsive regarding this matter. Letters/emails are met with canned responses that do not address the issue. What makes matters worse is that they admitted there was a "problem" with the ebill payment system at that time. For this and many other reasons I am terminating my 15year banking relationship with BofA. Good Luck

[Anonymous]

Interesting post Ozgirl, discouraging, but it's nice to know I'm not the only one. For an update, I sent a reconsideration letter today. If that doesn't pan out I may try to set up a face to face with someone.

[SmartCookie]

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kidwon wrote:
I forgot to mention, I still have not heard anything on my GW letters.

I think I am going to go for a reconsideration. Any suggestions for the letter?

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kidwon, I read on another thread that you got your BoA CC reactivated after recon, congrats!  

Thanks much for the story, can you fill in the gap of what happened?  In a nutshell, DH has a BoA (originally MBNA) with 11k or so CL that was closed so this is of extreme interest to me.  I've been wondering if this was possible with them so your awesome news is really great to hear.  From your very similar experiences, would you suggest simply going right to recon letter?