[centex]

I had posted about this on CB since there is more active discussion over there of those that hold the 'prime' cards. However, there may be some others here that had accounts with BofA and its acquisitions even prior to the MBNA merger,

I just got my notice in the mail that they were cancelling one of my cards. This was the only BofA offering I had that was actually issued by BofA and it was issued after a written request for reconsideration. They had also done a manual review for a CLI a little over a year ago. This was a card that had no annual fee.

The basis for the letter was a scoring they did using TU, and they cited delinquency and public record. Interestingly enough, there is nothing on the report that was not there at the time they issued the card nor that was there when they increased the limit more than a year ago.

The two delinquencies are the OC reports from the ID theft that I have not been able to get off of TU or EXP, and one of them was an MBNA account that BofA claims to have no information about and that has reported for almost six years with a zero balance. The other line is one of the infamous CrapOne accounts that updates periodically but is due to fall off in a matter of months.

I have faxed the executive offices (I have dealt with them on a couple of BofA matters) and expect to have some sort of an explanation on Monday (they tend to respond relatively quick), but the bottom line is that it looks like they are trying to purge accounts that were not making them more money than came in through the merchant fees.

This was an account that I might run $1500 a month through, so they were not making a fortune off of me. No annual fee and no interest income, and apparently one becomes expendable. In other words, the MBNA'ization of Bank of America has begun...

Should be interesting when the other BofA card comes up for renewal. All I can say is thank gawd for BMW and State Farm. Even Merrick has been good to me, with another automatic CLI this month. Jury is out on Juniper/Barclays though- no CLI but they apparently waived the annual fee without my asking them to, which means that one will live another year.

[roybean]

Isn't this the general trend with all CCs and bank accounts for that matter...they want to make money off of you and if you do not let them charge interest or overdraft fees or maintain a high balance you are considered to be a non-profitable customer???

[centex]

Originally Posted by roybean

Isn't this the general trend with all CCs and bank accounts for that matter...they want to make money off of you and if you do not let them charge interest or overdraft fees or maintain a high balance you are considered to be a non-profitable customer???

BofA is the only major player that I have any sort of a relationship with, and of the multiple accounts, all but one started with other lenders but were later taken over by BofA (and that actually includes two of the ID theft accounts).

My non-major players have all treated me well. My thought on all of this is that it creates yet another reason to look for the hidden gems out there and to avoid the mega-banks. We have already seen what Chase has done and it appears that BofA is going towards the same path...

[Enigma]

I got the same letter from them about three weeks ago. I called for reconsideration, they said no.

I always PIF, etc.

I have a LOC with them for my practice. I secured a line at another bank. Went to my local branch and told them I wanted to close my CL and move my accounts. The rep called over the branch manager. I explained to her that you (BoA) was closing a credit card that I had with MBNA for no apparent reason, except for the fact it does not generate interest income for the bank.

I was closing six checking accounts and a $75K LOC.

After a couple of calls the card was reinstated. Over the next six months I plan to pay off the LOC and leave it with a $0 balance. The other bank has given me better terms.

Do you have anything you can use a leverage to have them rethink the closure?

[centex]

Originally Posted by Enigma

Do you have anything you can use a leverage to have them rethink the closure?

Not really. I don't bank with them locally and I only have one other card with them (and it is only a $5K limit). Since I have other cards with other banks that are larger limits, the loss amounts to an inconvenience as much as anything else...

Their executive office has generally been responsive to issues in the past, to include an early release of a vehicle title when I threatened to sue a little over a year ago. They also helped get a small CLI roughly a year ago on the card that is now being cancelled/non-renewed.

[Hedwig]

The only problem will be if the loss of the open tradeline affects your history or utilization enough to impact your score. That would be a reason to fight to keep the card.

I have two BoA cards, both pre-merger BoA. One I always PIF, one I sometimes carry a balance because the rate is decent. We'll see what happens. I have been thinking about trying to combine them anyway.

[ilovemydogs]

I have two BoA cards, both pre-merger BoA. One I always PIF, one I sometimes carry a balance because the rate is decent. We'll see what happens. I have been thinking about trying to combine them anyway.[/quote]

Recently I noticed on my online banking with BoA there were a few card number accounts on the screen. I called up and noone could tell me anything. I thought that it must be something wrong with the situation and it was too busy lookin when I logged on.

So I went to the bank in person, now BoA but when I opened the account there some 30 years ago it was a local town bank.

Well I talked to the Bank honcho and he put in my number and all of these accounts in the past came up on the screen. They were other credit cards that had been charged off since 02 ,none originally were BoA but now are in fact going thru several bank names to finish up with BoA.
The bank guy told me that any card that people had in the past even if it wasnot a BoA then will be on the profile now, and that these were blocked,so he could not do anything to take them off but there must be a mistake. He also said that they are going to be customizing the accounts.
I played like "Mickiy the dunce" as i did not want hime to know much if at all about my past problems.
I had a credit line/overdraft at this bank for $20,000 and a credit card for $15,000 and BOTH are cancelled now.

I didn't even get anything in the mail for the cancellation of the credit limit and over draft, just a letter that they were cancelling my credit card. Just like that, out of nowhere and I had never been late with my payments.

SO now what I have done is take ALL my money out of BoA,and hopefully the new bank I am doing business with will not merge with them for a while <sigh>

I will tell you it was hard to get rid of my checking account as I had it since 75 !
ILMD

[Hedwig]

I know what you mean. I've had a checking account with them for a long time. It's a no-fee account, so I don't close it. I keep a few bucks there, and if I travel to an area where BoA has banks but my bank doesn't, I can put some money in and then use the ATM.

So far my credit cards are OK, but I had an old MBNA account years ago that had a lot of lates when I had my credit problems. It was from another bank and MBNA bought the accounts. When I refinanced my house the first time I think I paid them off and closed it because I didn't like MBNA. But I don't remember why I didn't like MBNA, if I had a card before or if it was stories from others.

[ilovemydogs]

Originally Posted by Hedwig

I know what you mean. I've had a checking account with them for a long time. It's a no-fee account, so I don't close it. I keep a few bucks there, and if I travel to an area where BoA has banks but my bank doesn't, I can put some money in and then use the ATM.

So far my credit cards are OK, but I had an old MBNA account years ago that had a lot of lates when I had my credit problems. It was from another bank and MBNA bought the accounts. When I refinanced my house the first time I think I paid them off and closed it because I didn't like MBNA. But I don't remember why I didn't like MBNA, if I had a card before or if it was stories from others.

MBNA is quick to send to arbitration. I don't like them. Another one is Providian and Washington Mutual who seems to be merging with lots of banks. I do have one with WM thru PayPal as I use it for my ebay things.
I use to know everyone in the bank, NOW NO ONE
I feel like a dinosaur. : (
ILMD

[centex]

It's officially gone...they removed the 'available credit' block on the website and it shows as closed on EX. At least they had the courtesy to show it as closed by consumer...others reported seeing theirs get reported as closed by grantor.