I think I just did something stupid.... maybe its not always a good idea to talk to representatives on the phone.
I wanted to find out if I could get an upgrade/product change on my old platinum plus Bank of America Visa card. This card has no perks, a $30 annual fee and a $1500 credit limit. In short, it stinks. Since I got it in 2008, my credit age, credit score and income have all increased nicely. I think I deserve a better card too.
I knew I was pre-approved for the cash back rewards BoA card. This card has no annual fee, and some ok rewards. I figured maybe if I call up, they could convert me to it. Its not a card I really want, but if could dump my annual fee and keep my credit age, win-win right?
I called the credit department directly and got a rep. Mentioned my long history with BoA, improved credit etc. She asked all the regular questions, what limit I wanted. I thought $1500 to $5000 was reasonable. She stated, absolutely we can do that product change.
I was happy.
I asked - is this going to count as a new account on my credit report, or do I get to keep my old account history? She gave an ambiguous answer - It will be a new account, but information will transfer (what does this mean?). After this answer I had reservations about putting the product change through - but I authorized it - against my better judgement.
The thing is, she was so pleasant, upbeat and helpful on the phone that I felt obligated to let her do it. I didn't want her to feel I was wasting her time! This is the social contract kicking in.
So I login to my account and check out the card details. Indeed a $5000 CL. But the annual fee is still there!! Arghhhh! Looks like they waive the annual fee just for new applications online. Now I fear that I hurt my AAoA just for a card I didn't really want with an annual fee. So irritating. I feel like I might have well just closed the platinum plus card, and applied for a new card I actually wanted instead.
With this product change, did I hurt my AAoA?