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Found 22 results

  1. I’ve been getting ready to do some CLI’s and such, and have been compiling information on BofA - jotting down my own personal dealings (not feelings), combing through threads, sending PM’s, making phone calls to BofA CSR’s and having others try things in their phone dealings as well (thanks Uber). I started to put together a repository of sorts and figured what the hell, I’ll just post it for everyone- present and future. Hopefully this can be a wiki-type post and people can add to or correct any of the below info. This is an objective post, not subjective. I didn’t put this together as a “reason I <3 BofA” post, nor for someone to list a bad CSR experience. I also understand that in 2008-2010 BofA balance chased individuals. I cannot find any widespread evidence of that recently (within 4 years) happening. So please try to keep this as a what you can/can’t do post and leave feelings out of it. Perhaps some info on how BofA treats BK's (how long since discharge is required for secured, how long since discharge is required for unsecured), how BofA treats people who burned them (do they blacklist) etc could be added. Applications BofA, Fidelity and Merrill all use the same underwriting and analyst departments. According to the credit pulls database, BofA products pull from various CRA’s, even in the same state. You can have multiple BofA products with little problem. If you already have any BofA/Fidelity/Merrill product and would like to apply for another product, you might want to do the application by phone. BofA is notorious for taking credit line from one product in order to give you another product. You cannot apply for two products with the same hard pull. CLI’s While Bob’s “Master Issuers who give Auto CLI’s” does list BofA and I have found several other examples, on the whole they do not appear to be common. A CLI will more than likely require a request. Some people get hard inquiries, some people get soft inquiries. So expect a hard. Requested CLI’s have been granted in as little as 60 days since opening a trade line. Requested CLI’s have been granted in as little as 60 days since the last CLI. If you have more than one BofA/Fidelity/Merrill product and would like to request a CLI, you might want to do the request by phone. BofA is notorious for taking credit line from one product in order to increase your credit line on another product. You cannot request CLI’s for two or more products on the same hard pull. You cannot combine a new application for one product and a CLI for another existing product on the same hard pull. Doesn’t matter which one you try first. Maybe you get lucky and the CRA combines the pulls, but that is luck and not the doing of BofA. With supporting income, BofA cards can have extremely high individual limits. I have seen reports of $100K.
  2. Hello, I already had one $5000 Cash Rewards Visa with BofA and a $300 limit Signature Visa as well. The $300 Visa was open since 2007. The $5000 limit one has been open since 2011. I also have a $2500 Amazon store card since about 2011 and a Capital One Quicksilver Visa with an $800 limit, and a Capital One Platinum MasterCard with a $700 limit. Have had both of those since 2010. The $5000 BofA Cash Rewards card, Amazon Store Card, and both Capital One cards have all been as the limit since last summer. I never had any late payments. I have had my checking account with BofA since 2007. I also have a business account with BofA. No Money Market amounts or anything like that with them. My Experian score is 726 (That's who they pulled) I was in the branch on Monday and the teller said I had a Credit Card offer. So I sat down with the representative, and had him put in an application for another Cash Rewards Visa with a $5000 limit. That was instantly approved and I got the credit card in the mail yesterday. So today I'm at work and decide to call in and do a balance transfer from my other cards to my new card. While I'm talking to the CSR I ask if he thinks I can get a CLI to 10 or 15 grand. He said he thinks I can and maybe they won't even do another inquiry since I just got this card yesterday. I said ok go for it. 15 grand. He doesn't get an immediate answer back and says I should hear something in the next 3 days. This was around 1PM today. I check my account at 4 and I see my limit is up to $15000 on my new card. Wooo hooo! The CSR also said that I can get a cash advance for up to my maximum credit line at 0% until April of 2016. Fees are 3%. He already had approved me for $4800 (Since my initial credit limit on the new card was only $5000) but said once I get my CLI just call him back and he can give me more. I'll be calling him Friday! Lol I'm gonna put all my other card balances on here so I can get the 0%. They'll be paid off well before then.
  3. Hi there, I am looking for help on what to do for a Bank of America credit card account that was charged off in December 2012. If I remember correctly, I actually paid this account off in full, but I don't remember for sure as I had a number of credit cards in bad states at that time, so one may have actually been charged off. The status is "Closed. $1,992 written off." The comment says, "Purchased by another lender." I do not recall ever being contacted by a JDB for this account, but it may have been them that I eventually paid off in full. Though I would have thought that would have been much earlier than late 2012 or early 2013. The first month reported for this TL on my credit report is Septemeber 2009, and it is clean until January 2011. The following negative items appear from that date: 1/11 - 30 7/11 - 30 12/11 - 30 3/12 - CLS 4/12 - CLS 5/12 - CLS 6/12 - 30 7/12 - 60 8/12 - 90 9/12 - 120 10/12 - 150 11/12 - CO 12/12 - CO I do not recall getting any notices in 2012 or thereafter. Anyway, I am guessing I need to send a validation letter. Let me know if that is incorrect. But, if it is correct, can someone point me in the right direction? I would be grateful for a sample letter. I will of course not use said letter, but it would be nice as a starting point to get my bearings and craft a letter to my specific situation. Also, how do I need to send that? Certified mail return service requested? Any help in getting started with this negative TL is most appreciated. Really, I could use step by step instructions or a link to where to find them. Thanks!
  4. I received a pre-selected offer in the mail for Bank of America. I currently have a FAKOs of 677/677/667 (EX/TU/EQ). I also have $22,800 in credit, spread out over 5 cards. 9K highest limit, 2K lowest limit, including a signature Visa and an AmEx. Oldest credit card account is at least five years old, newest is couple of months. Everything else falls in between. I have older installment accounts (only one open, rest are paid/closed in good standing). Pretty much middle of the road on credit rebuilding, current standing, etc. So I applied for the BOA MC. Received instant approval of $500. That is almost an insult credit limit, considering the work I have put in to increase my scores, increase my limits, etc. Soooo, should I chalk this up to a learning experience of a wasted inquiry and never activate this card when it comes in and to just let my open accounts age for a while? Or should I call BOA when I receive the card and ask for CLI? Thanks in advance for any advice and/or experience examples.
  5. Enroll your Bank of America issued VISA or Debit Card in VISA checkout by 12/04/2014. Receive a Prepaid Reward VISA card with a value of $10. More info on Promo here.
  6. I received my Bank of America travel rewards card on Monday, called Tuesday for a CLI from 2500 to 5000, approved. Called today and asked to get bumped to 7500, put on hold for a few minutes, asked some income and employment info, approved. Bank OF America is awesome seems they are very generous with CLI's 2 in 2 days and just got the card Monday.
  7. did not read this until I settled, hope I save someone else some money...! Update! In April 2010, New York’s highest court, the Court of Appeals, confirmed that the statute of limitations that applies to a credit card debt may beshorter than six years, depending on where the credit card issuer is based. (See here for the Court’s decision, from Portfolio Recovery Associates v. King.) Here’s how it works: New York has a law stating that the statute of limitations on a credit card debt is six years. But New York law alsostates that a creditor cannot take advantage of NY’s six-year statute of limitations if the creditor’s home state has a shorter statute of limitations. (This is what New York’s highest court recently confirmed.) Some of the biggest creditors – such as Chase, Bank of America, and Discover – have home states with three-year statutes of limitations. If you are sued on a Chase, Bank of America, or Discover credit card debt, a three-year statute of limitations will generally apply. Example #1: Let’s say you had a Big Bank credit card. The last time you made a payment was in January 2007. You therefore “defaulted” in February 2007 (you usually “default” on a credit card debt about 30 days after your last payment). The statute of limitations starts running from your default, in February 2007. Big Bank sues you in a New York court in August 2010. Big Bank is based in Delaware, which has a three-year statute of limitations for credit card debts. Question: Has Big Bank waited too long to sue you? Answer: YES. Since Big Bank is based in Delaware, which has a three-year statute of limitations for credit card debts, New York law says that Delaware’s three-year statute of limitations must apply. Big Bank cannot take advantage of New York’s longer six-year statute of limitations just because it sued you in New York. Because Big Bank waited more than three years to sue you on the credit card debt, the statute of limitations has expired, and the court must dismiss the case. This same rule applies even if you are sued by a debt buyer on a credit card debt and not by the original creditor. Example #2: The same facts as in Example #1, except now, instead of Big Bank suing you, a debt buyer called XYZ Funding has sued you on your Big Bank credit card. Question: Has XYZ Funding waited too long to sue you? Answer: YES. You still look at where the original creditor is based – the debt buyer does not get any more time to sue you than the original creditor would have had. In Example #2, the statute of limitations that applies is still Delaware’s three-year statute of limitations, since Big Bank is based in Delaware. (It doesn’t matter where XYZ Funding is based.) Since XYZ Funding waited more than three years to sue on the Big Bank credit card debt, the statute of limitations has expired, and the court must dismiss the case.
  8. Hello everyone- Can anyone tell me if it is true that once a company admits an error in it's reporting to the CAs, all related credit reporting for that account must be removed? I am struggling with a very delinquent mortgage on a house that is now being sold in a short sale. The impact on my credit has been disastrous. It was originally with Countrywide. I disputed the reporting via Lexington Law. It was a long shot, but thought I would give it a try. The reporting was being done under the name Countrywide. Bank Of America now holds the loan. They reviewed their records, removed the Countrywide reporting (so I got a notice that it was removed- yippee!), then immediately put back on my CR in the name Bank of America (womp womp). Someone at Lexington law said that since BofA essentially demonstrated that their previous filings were erroneous by the removal of the Countrywide foreclosure status, ALL of the credit reporting for my mortgage had to be removed. I never followed up with Lexington Law because I canceled my service with them, but this has been a hope I have held on to without being sure 1. If it was true or 2. What to do next. I would appreciate any help you could give. Thanks very much. PS If I have inadvertently left out details that would help in answering this question, please let me know.
  9. http://www.reuters.com/article/2014/04/03/us-financial-regulations-creditcards-idUSBREA3225H20140403
  10. Help credit board members! I am trying to get approved for a mortgage and I have one baddie that my lender says I need to resolve. It’s for a deficiency balance on a second mortgage HELOC loan with Bank of America for the amount of $92,000. The short sale took place in February 2010 and I thought that this account was settled after the purchaser of my home paid Bank of America $23,000 to release title. BTW, Bank of America changed the amount and terms on the eve of the short sale. Originally Bank of America only wanted $3000 to settle the account. I signed the agreement to allow the short sale to continue, but the language of the agreement stated that liability of the deficiency was to be determined. Bank of America states that they have assigned the loan to Sunrise Credit Services, and that they cannot receive payment and that I must contact them. I looked up Sunrise Credit services and they collect on behalf of other clients and purchase debts. Sunrise Credit Services is not currently reporting on my credit report. Bank of America shows a charge off with a past due balance of $92,000 in Nov 2009 on all the CRA’s. I have disputed with the CRA's and the account has come back being verified. I thought that Bank of America should show transferred with a zero balance, if they assigned the debt to Sunrise Credit Services, but this isn’t the case. Sunrise Credit Services has attempted to call me a few times but I don’t give them any information and I ask them to send me something in writing but I have not received anything as of yet. The SOL in my state is 4 years. Nov 2013 was the due date for the SOL, unless they want to say that the payment of the short sale from the buyer reset the SOL to February 2014. How should I proceed to resolve this? I probably have approximately 35 days to try to close escrow before this deal falls through.
  11. I have a judgment from Bank of America on my credit report from an old checking account. They sent me a 1099-C cancellation of debt form. I called them and they said I no longer owe the debt and they will not try to collect on it anymore. I've tried to get it off my reports using techniques I read on hear but no success so far. Do you think I can mail the bureaus a copy of the 1099-C to get it deleted? Has anybody had any success with a 1099-C form?
  12. So last month I had my secured card through Bank of America unsecured early.. at the 10 month mark and they increase my credit from $1,000 to $2,000... This resulted in a hard pull.... I was bored and decided to hit that luv button again 1 month later and ask for a credit limit increase again to $5,000 just to see if they would raise it... resulted in a hard pull and the dreaded 7-10 day message. I log in today and I now have a $5,000 limit! woohoo! guess I should have asked for more! This is still with several student loan late payments from a couple of years ago... and don't worry I will update the credit pulls database when I get the official letter in the mail next week
  13. I had a checking account at BOFA...... the account had 19.00 in it...... my wife made a mistake and wrote a 20.00 check to a schoool for one of my children.... I did not even know about it. Not saying that wew were not wrong but...... Apparently, the school kept trying to run the check through and every time BOFA charged me 35.00 The account got to negative 230 something. I called BOFA and they dropped the fees owed to 135.00 and then closed the account and turned me into EWS.... IF i pay BOFA the 135.00 will it show on EWS as paid? I called EWS and they said to fill out a dispute form.... what's my chances that I can talk BOFA into removing the entry on EWS if I pay the amount.
  14. So here is my 1099 story. The code they used is G - Decision or policy to discontinue collection. · Just got a 1099 from Bank of America. · BOA never attempted to collect the debt. · The debt dates back to 2003 when it was taken as a loss from the original bank. · The debt was bought and sold by a variety of CA’s several times through since 2003. · The account of debt was “returned” to BOA in December 2013. · BOA apparently bought the bank that originally gave me the credit card hence why they sent me the 1099 This is my debt – no question. Questions/Comments: · I want to try to settle or pay the debt. I am in a good place these days financially and I am more than happy to pay. · If BOA had contacted me before they issued the 1099, I would have engaged them. · This charge has not been on my credit report since 2005. · Now, they are ignoring me. · What would y’all do in my case? · Just take the tax hit and not worry about it? · Try to contact BOA again?
  15. For those of you with BOA Secured cards: I have had this card for 11 months, and am pretty familiar with it, including adding additional security deposits to increase the credit line (which I've recently done actually). I expect that it will unsecure after the first of the year considering payment history, reduced util that will report by 1/1/14 and improved scores. Today, I noticed that there is a 'request a credit line increase' button on my login page. I've always called in to do the increases before, so I'm not sure if this is new, or I've just overlooked it before. Do those of you with this card see this option upon login? Thanks in advance.
  16. So BofA is reporting a credit card charge off on my reports. They sold the account to Asset Acceptance and Asset Acceptance is reporting as a collection account and another as a judgment on all reports. One account, three trade lines. Anyway, I sent a OC validation letter to BofA and below is what they sent me back. "IMPORTANT MESSAGE ABOUT YOUR CARD ENDING IN XXXX Thank you for your inquiry regarding the above referenced account. We're writing to inform you that your account is no longer being managed by FIA Card Services, N.A.; effective November 17, 2011 your account was sold to Asset Acceptance, LLC. What this means for you Since your account was sold to Asset Acceptance, LLC the information you requested will need to be obtained by contacting Asset Acceptance, LLC. As a courtesy, we have forwarded your correspondence on to the buyer, but you should still contact Asset Acceptance, LLC directly. They may be contacted by phone at 1-800-XXX-XXXX. They may also be contacted by mail at: We encourage you to contact Asset Acceptance, LLC for any questions you may have." How should I respond to this?
  17. One of my cards, the BOA visa signature currently runs an offer on balance transfer and I wanted to move about $7000 to that card. The credit limit is not reported by BOA (Currently 15K) but card reports maximum past balance and minimum payment amount. The question is - how my FICO is going to be affected if I transfer balance to this Visa Signature card. Will new balance become "hidden" from FICO algorithms or total utilization is going to be calculated based on maximum past balance that is reported (that would be strange). Anybody can help and clarify? Thank you!
  18. I request advice with the following situation (reported in order of facts): The wife's credit report showed a 120+ day delinquent payment. She called credit bureau and was told it was probably information mix-up She called creBank of America that reported late payment, and was told her balances were all $0 and all her accounts closed. She called again and was told the same She requested a letter showing this She received a letter regarding 8/5, stating one of her accounts was closed She received another letter 8/9 saying investigation showed her accounts were overdue She called 8/12 and representative noted she had a balance due of $200, that has grown with late charges to $400. Representative noted that they see she attempted to pay off and close the account in May, but there was a digit missing, and so payment did not go through. Credit card representative said they probably mailed notices to her address -- for which wife used an old address not currently in use. Wife explained that she never got a phone call at any point. Credit card representative did not dispute this. Call with representative was not recorded. What to do now? Her credit score is 100pts lower for a $200 bill. Credit company shows an attempt to pay and acknowledges no phone call, but may have plausible deniability on sending monthly mailers noting account was delinquent. I'm not sure where this mail ever went to, and whether it was just returned to credit card company. I am more concerned with 100pts score vs. the insane late fees (how do they got to $200 in late fees for 120 days?). The credit card company ha NO INCENTIVE to get the amounts paid current if they can just rack up these late fees and hold you hostage over your credit report. This seems like it should be illegal (i.e., you shouldn't be able to charge both $200 in late fees + damage someone's credit report without a phone call) What to do now?
  19. I know someone who has 3 credit card accounts with 3 large national banks. Two of these three banks (Chase and Citi) agreed to place this individual in their hardship programs, offering them absolutely the same new modified terms (0% interest rate, 60 months to pay off balance, no fees). Bank of America is the only bank that insists upon continuing to charge them interest, which they can do; it's just that the new interest rate they are proposing is not reasonable at all! It causes the new monthly payment to be even higher than it was in the past. And the worst thing is BOA will not budge! I would greatly appreciate any advice! Thank you, guys!
  20. Received an email alert from Experian that I had a significant change to my credit report. Logged into Experian and found out that I had a hard inquiry from Bank of America for what was described as "bank credit cards." I called the BOFA number listed on the inquiry and explained that I had no business relationship with BOFA, hadn't applied for any credit, and wanted to know the purpose for this inquiry. The rep denied that BOFA had done the inquiry and confirmed my last activity with them was 13 years ago. I have no open accounts, to include bank accounts with them period. The account I did have was discharged 13 years ago in a bankruptcy. Any idea what is going on? Has anyone else had this happen? I've sent Experian a letter disputing this inquiry but I'm really concerned that someone might be trying to pull some identity theft stuff. I found where some people had mentioned that BOFA does a hard inquiry when a bank account is opened, but again, I did no such thing. Any help would be appreciated.I If nothing else, I'm posting this in case they do it to other people as well.
  21. i am looking for suggestions on how to dispute a BofA CC. The CC was IIB but still shows the prior negative history, and a CO the same month BK was filed. This is my GF's account and I would appreciate it if anyone can share their experience and successful methods of dispute. Hopefully someone has some ideas that will also work in my situation? So far we have tried the not mine with EX, twice the second time they said previously investigated...What a memory EX has. Tommy
  22. Oh how I LOVE CB! I want to 1st start off by saying thank you to all those who provide feedback! Everyday I learn something new! So THANKS!! I'm trying to put together a good will letter to send to the exec of Bank of America. Last year I paid off mg card that had a $4000 limit off in full. I was never late but only made minimum payments. Shortly after I made the payment my card was closed! My CRA reads "closed paid as agreed" . Does anyone have any experience with this? Why would they close the card when I paid in fill. The card was not delinquent or in collections. Even my CRA's never show a late payment. I do have other cards with BOA with much lower limits. This whole situation is confusing. So back to me contacting BOA - should it be an email or snail mail? And should it be more of a recon or good will?

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