Credit Tips: Bank of America Not Renewing Credit Card Due to Delinquencies
Written by carnold
Posted On: March 16, 2007
Author: hithesh123
Posted: Fri Mar 16, 2007 9:53 pm
Post subject: BofA cenceling my card
My BofA visa card expires this month. I got a letter today saying - we reviewed your account blah blah and cannot issue a new card bcoz of past delinquencies.
The delinquency was on my other card. I never had a late payment on the BofA card. I am kinda pissed at them.
That card was my second credit card. Is there anything I can do.
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Author: Brammy
Posted: Fri Mar 16, 2007 10:11 pm
Post subject:
Was the other card a non BOFA card. They can refuse to renew based on info in your file and your relationship with other lenders. Kinda a twist on UD.
Hate to hear that though, hopefully you’ll get better offers to come along soon.
Author: hithesh123
Posted: Fri Mar 16, 2007 10:15 pm
Post subject:
Funny thing is I am getting new cards approved instantly.
I just got amex green card and chase freedom.
I was never getting approved online. It was always 3 weeks or 4 weeks after submitting the application.
The only reason I wanna keep the BofA is bcoz its been there for a long time.
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Author: Brammy
Posted: Fri Mar 16, 2007 10:22 pm
Post subject:
Do yu think perhaps they think you have too much exposure? I would definitely call and ask. Doesn’t make sense if you’re getting those approvals. What interest rates are AMEX and Chase giving you?
Author: hithesh12
Posted: Fri Mar 16, 2007 10:36 pm
Post subject:
The cards were approved this week. So I still don’t know the APR.
I do have a citi premier pass card with 14%. CL is 3500, it also said there is no preset limit.
The amex GC is a charge card.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: apwmel
Posted: Fri Mar 16, 2007 10:59 pm
Post subject:
They also cancelled my card as well. Maybe this is there new policy.
Author: hithesh123
Posted: Fri Mar 16, 2007 11:00 pm
Post subject:
what reason did they give you?
Author: apwmel
Posted: Sat Mar 17, 2007 7:15 am
Post subject:
The reason given was because of a bad account with another company. I know Chase does this but I was not aware that BofA did it also.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Labels: Bank of America Cancelling Credit Card, Past Delinqencies Effecting Credit
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Curtis Arnold, a nationally recognized consumer educator and advocate, has been educating consumers about credit cards since 1998. Curtis is the author of "How You Can Profit from Credit Cards: Using Credit to Improve Your Financial Life and Bottom Line" (FT Press, 2008). He is also the co-author of the upcoming Complete Idiot's Guide to Person-to-Person Lending (Alpha Books/Pengiun Group USA, April 2009), a contribitor to The Ultimate Allowance (InnerWealth Publishing, 2008) and is extensively featured in 42 RulesTM for Driving Success With Books (Super Star Press, January 2009).
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