Have an old BofA card. Should I try to upgrade/PC it or just forget about it?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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creditquestion
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Have an old BofA card. Should I try to upgrade/PC it or just forget about it?

Postby creditquestion » Fri May 31, 2013 4:39 pm

My first credit card was a student card from Bank of America with a $1,000 credit limit. I got it upgraded to a Bank Americard cash back, but it's still got the $1,000 limit (haven't applied for a credit limit increase) and all in all it's kind of a lame card. Now I have some money invested with MerrilLynch and have for over a decade, so I get comparatively very good customer service from BofA when I call in, so I feel like the card may not be beyond saving.

Are there any actually good BofA cards? Should I try to get a PC to a better one, or just apply for a credit limit increase, or just ditch the card entirely?

For reference along with my Amexes I also have a Chase Sapphire Preferred, so I already get good bonuses and have Visa Signature.


FutureBillionaire
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Postby FutureBillionaire » Wed Jun 05, 2013 12:08 pm

PC it to the travel rewards card or the cash rewards card.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

KrazyNick
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Postby KrazyNick » Wed Jun 05, 2013 2:12 pm

I agree convert to the Cash rewards or travel rewards. I have the Travel myself!
Bank of America Travel Rewards Visa Signature - 5k (2/10)
Capital One Mastercard- 2.5k (1/11)
Chase Freedom- 5k (4/11)
Discover It- 3k (5/11)
Chase Amazon Visa- 2k (5/13)
American Express Blue Cash Everyday- 8k (5/13)

Bank of America WorldPoints Rewards for Business- 18k (11/11)

pewpew
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Postby pewpew » Wed Jun 05, 2013 9:41 pm

if you are interested in staying with BoA, then definitely upgrade. for two HUGE reasons:

first and foremost, it is technically the same account so your AAoA doesn't take a hit when you open a new account. BoA will change your account # for sure, but the account will still be the same.

second, your interest will probably be lower this way, in case you ever have to pay it.

but before you do a PC, see if you are eligible for any CL bumps or an APR reduction first, then do the upgrade. your eligibility might disappear after the PC.

if you aren't going to use it, then may as well leave it alone. but keep it around since it is your oldest account.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL

Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.

nvtech
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Postby nvtech » Thu Jun 06, 2013 4:34 pm

I was in an exact scenario like you. But instead of going with Cash Rewards or Travel Rewards, I went with Better balance rewards .You can get up to $120/yr just satisfying some basic terms and conditions. My only rationale is that I am not gonna spend more than $30 each month($360/yr) and I want $120 back ($30/quarter).

In my case, I do have all the 5x cashback cards and Travel Cards.

creditquestion
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Postby creditquestion » Sun Jun 16, 2013 2:16 pm

pewpew wrote:if you are interested in staying with BoA, then definitely upgrade. for two HUGE reasons:

first and foremost, it is technically the same account so your AAoA doesn't take a hit when you open a new account. BoA will change your account # for sure, but the account will still be the same.

second, your interest will probably be lower this way, in case you ever have to pay it.

but before you do a PC, see if you are eligible for any CL bumps or an APR reduction first, then do the upgrade. your eligibility might disappear after the PC.

if you aren't going to use it, then may as well leave it alone. but keep it around since it is your oldest account.


So this seems like good advice, but what should I upgrade to? I don't actually see any very enticing cards from BoA.



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