BOA to close credit accounts??

[FICOMari]

Now, I am not stating this is true, it is pure speculation!!!  But I wanted to pass on this link that I found while perusing the internet today about BOA closing credit card accounts in the next couple of days.

http://itulip.com/forums/showthread.php?p=50671#post50671

[jaxstraw]

This would be a huge loss in revenue for BoA. It wouldn't make any sense to cancel or close 60% of the money they make on interest in their CC division.

It is very hard to believe.

Jax

[Creditaddict]

that's so crap, it's not happening. dont' buy it for 1 sec.

[Anonymous]

Yeah, I doubt BoA will close off credit accounts. For one thing, they're losing one of their "biggest" customers this November -- the US Government in the form of the DoD Travel Card (CitiBank is the new contract-holder).

I don't know HOW or HOW MUCH they made off that contract, but I do know (from HR/SATO people in fairly high places) that it was a dirty and hardwon battle. They did NOT want to let that peach go.

DH and I are feeling a bit hemmed in now ... Citi holds his Travel Card, and they're buying out our bank (Wacky). Sad thing is, we wouldn't qualify for a regular card with them with our current scores. :/

[FICOMari]

Yes, it looks like it is FALSE, I just read this excerpt on the internet about it:

"BOA just told me this rumor is false. It was extremely weird, though. He had to get off the phone, put me on hold, and ask someone. Then, he told me he could not specify anything else - but the rumor was most definitely false."