Goodbye BofA and Regions!

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websteth
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Goodbye BofA and Regions!

Postby websteth » Sun Feb 02, 2014 10:33 am

Well, I finally did it and kicked two of my old banks to the curb and closed my non-used cards with them. Regions and Bank of America are two of the worst banks i've ever dealt with and after just doing the sock drawer with these for a few years, it was time to just cut the ties with them.

Both would send me at least 2 times a week checks to cash and use at sky high interest rates plus would email and call almost weekly begging me to use my cards again. Considering they weren't my oldest cards, I figured it was time to let them go. I recently haven gotten credit increases on my cards I do use that will offset the loss of the open credit lines.

Anyone else have issues like this with any other banks?
American Express: Platinum, Zync, Platinum Delta SkyMiles, Blue, Starwood Preferred Guest
Barclaycard US: iTunes Reward Visa, US Airways Premier World MasterCard
Chase: Sapphire Preferred Visa Signature, Freedom Visa
Citi Bank: Hilton HHonors Visa Signature, AAdvantage Platinum Select World Elite MasterCard
Bank of America Virgin Atlantic World Elite MasterCard
Discover: Discover it
Other:Macy's Star Rewards, Target REDCard


MemberSince99
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Postby MemberSince99 » Sun Feb 02, 2014 10:58 am

No, I've had a few send me the checks which I tear up and throw away, but that's once in a blue moon, and no one calls me begging for my business. I should be so lucky.

websteth
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Postby websteth » Sun Feb 02, 2014 10:59 am

MemberSince99 wrote:No, I've had a few send me the checks which I tear up and throw away, but that's once in a blue moon, and no one calls me begging for my business. I should be so lucky.


Yea it is petty annoying. At least they call my Google Voice number where I don't have to actually take the call ;)
American Express: Platinum, Zync, Platinum Delta SkyMiles, Blue, Starwood Preferred Guest
Barclaycard US: iTunes Reward Visa, US Airways Premier World MasterCard
Chase: Sapphire Preferred Visa Signature, Freedom Visa
Citi Bank: Hilton HHonors Visa Signature, AAdvantage Platinum Select World Elite MasterCard
Bank of America Virgin Atlantic World Elite MasterCard
Discover: Discover it
Other:Macy's Star Rewards, Target REDCard

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Vattené
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Postby Vattené » Sun Feb 02, 2014 12:47 pm

I've never gotten any credit from them, but Regions became the regular checking account of my now-wife and myself when we moved for college. We used them for a couple of years at most with no major issues until they announced they were going to start charging people for using their debit cards. It was a while ago, so I don't remember exactly how the scheme went (if it was a flat fee every time or [more likely] something more complex), but I do not take kindly to the notion of a bank charging me to use my money so we pulled out as soon as we heard.

Apparently Regions never followed through with this because it pissed off too many customers, but they had already lost their chance with us. We have checking and savings accounts with a local community bank and couldn't be happier with them.

Forgive my ignorance, but I'm not familiar with this practice of mailing out checks. Does someone mind filling me in on this scheme?
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

websteth
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Postby websteth » Sun Feb 02, 2014 2:15 pm

I ditched Region as well when they started charging fees for things like Debit Cards and Mobile Deposits. As for the checks thing, they are Balance Transfer Offers or Cash Advance Offers. I only ever see them for cards I have in the sock drawer.
American Express: Platinum, Zync, Platinum Delta SkyMiles, Blue, Starwood Preferred Guest
Barclaycard US: iTunes Reward Visa, US Airways Premier World MasterCard
Chase: Sapphire Preferred Visa Signature, Freedom Visa
Citi Bank: Hilton HHonors Visa Signature, AAdvantage Platinum Select World Elite MasterCard
Bank of America Virgin Atlantic World Elite MasterCard
Discover: Discover it
Other:Macy's Star Rewards, Target REDCard

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Vattené
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Postby Vattené » Mon Feb 03, 2014 4:45 am

websteth wrote:As for the checks thing, they are Balance Transfer Offers or Cash Advance Offers. I only ever see them for cards I have in the sock drawer.

Ah, thanks! I don't have a major credit card yet (just store cards offered by Comenity or GE) so I've never seen these before.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

MemberSince99
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Location: WI

Postby MemberSince99 » Mon Feb 03, 2014 6:34 am

Vattené wrote:Ah, thanks! I don't have a major credit card yet (just store cards offered by Comenity or GE) so I've never seen these before.




You will someday. DON'T BITE it's a trap. If you use them it's considered a cash advance and interest is charged immediately. You can see it in the fine print if you have a magnifying glass handy.

gerry
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Postby gerry » Mon Feb 03, 2014 7:58 am

Tuesday I just canceled my GM Card (HSBC originally, bought by Cap 1), and my Cap 1 Platinum. The GM card was my oldest active card. Both were my lowest limit cards, and I was disappointed with Cap 1's behavior during the 2008 recession. That being said I am considering applying for the Union Plus card which is now Cap 1 as well (formerly HSBC, now promoted by Union issuer that Cap 1 is an "American" company).

Also I now have checking and savings with a Credit Union so I will be closing my Chase accounts, but of course I'm keeping the Freedom card.
Amex Green $NPSL
Amex Blue $12000
MCU Platinum $9300
Discover More $7000
Chase Freedom $4500

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jumbo
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Postby jumbo » Tue Feb 04, 2014 1:39 pm

Not sure why, but I get cash advance checks from Discover, maybe twice a month. And till this date I have received more than 15 mails with checks in it. I don't know why Discover wants me to use the checks.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card

MemberSince99
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Postby MemberSince99 » Tue Feb 04, 2014 2:17 pm

jumbo wrote:Not sure why, but I get cash advance checks from Discover, maybe twice a month. And till this date I have received more than 15 mails with checks in it. I don't know why Discover wants me to use the checks.



So they can make money.



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