Can I convert/change a Bank of America credit card?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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F1098
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Can I convert/change a Bank of America credit card?

Postby F1098 » Thu Jan 17, 2013 12:18 am

I have a BankAmericard Platinum Plus Visa, $13k limit 0% intro for 15 months.

I opened it to make a $5k purchase & pay it off with no interest.

However the card has no rewards...is it possible to convert the card in the future to something like the BankAmericard Cash Rewards? I spend $1000-1200/month on gas & would love the 3% cash back.

After searching I found nothing, so this is my first post!
AMEX PRG NPSL
AMEX EveryDay: 1,000
Discover IT: $11,200
BoA Visa: $11,500
BoA Cash Rewards: $1,500
Barclays NFL Extra Points: $3,500
Barclays Rewards: $1,500
Capital One VentureOne: $7,500
Capital One No Hassle Rewards: $2,750
Capital One Quicksilver Rewards: $1,200
Chase Slate: $3,200
ENT FCU/Élan: $400

Store:
Eddie Bauer: $1,050
Wal-Mart: $3,200


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nomnomnom
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Postby nomnomnom » Thu Jan 17, 2013 7:06 pm

I think your best bet is to call and ask. Chase has done a "Product Change" for me. Capital One told me they can't.

You'll want to consider how a potential product change will affect your credit history date. For example, some product changes will CLOSE the old card, and open a new one without backdating.

I don't know much about your credit profile, but it may even be possible to just get a second card with them and keep the other one and/or just lower the limit on the other one to accommodate the new one.
[CENTER][font=Arial][size=60]Equifax: 753, Transunion: 742, Experian: 740
Discover It 10,000
USAA Total Rewards Visa 16,000
AmEx HH 16,300 | AmEx BCP 2,000
Chase Freedom Visa 10,000 | Chase Slate Visa 1,500
PenFed Platinum Visa 10,000 | PenFed Line of Credit 3,500
CapOne Platinum Mastercard 5,000 | CapOne Best Buy 4,500 | CapOne Orbitz Visa 1,000
OnPoint Platinum Visa 5,500 | Barclays NFL Visa 2,500 | US Bank Cash 1,500 | KeyBank PLOC 1,500
Amazon Store Card 400
Total Credit Line: $91,200 -- Last Updated: July 28th, 2013[/size][/font][/CENTER]

cashback
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Location: NY

Postby cashback » Thu Jan 17, 2013 7:29 pm

If you spend that much on gas, you might as well get the PenFed Cash Rewards to get 5% on gas.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781


CC Deville
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Postby CC Deville » Thu Jan 17, 2013 9:24 pm

Bank of America is very good about product changes. I have two BofA cards and each has been either automatically PC'ed by BofA or they sent me offers for a PC:

BofA Visa Gold automatically upgraded to Visa Signature with World Points and then offered Cash Rewards (accepted).

BofA Visa Signature with World Points offered upgrade to Accelerated Cash Rewards Amex (accepted).

If they don't already automatically change your rewards or offer a PC, you can easily call or email them via online account management to request one. Just know that any PC done with BofA usually involves an account number change and it takes up to a month for the full PC to take place. BofA PC's do NOT result in a new tradeline-but they usually do involve a new account number.

As cashback stated above, the PenFed Platinum Cash Reward card offers 5% cash back on gasoline and there are no caps on the rewards but only 0.25% on all other purchases. I am not 100% sure, but I believe that the cash back is automatically credited to the account balance on a monthly basis-or at least that is how it used to work. For me, I want a check/gift card or an automatic deposit to checking to use as I want. PenFed is also notoriously difficult to be approved.

*Caveat: keep in mind that the BankAmericard Cash Reward card caps gas and groceries at $1,500 per quarter-and that is COMBINED (2% groceries and 3% gas up to $1,500 per quarter, not $1,500 gas and $1,500 groceries). So with that much gas you would max out at 3% after 1.5 months each quarter and then only earn 1% for the remaining quarter. There is a 10% bonus if you redeem your cash reward into a BofA checking account.

F1098
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Postby F1098 » Fri Jan 18, 2013 7:06 pm

Thanks guys, that is exactly what I was looking for.
AMEX PRG NPSL

AMEX EveryDay: 1,000

Discover IT: $11,200

BoA Visa: $11,500

BoA Cash Rewards: $1,500

Barclays NFL Extra Points: $3,500

Barclays Rewards: $1,500

Capital One VentureOne: $7,500

Capital One No Hassle Rewards: $2,750

Capital One Quicksilver Rewards: $1,200

Chase Slate: $3,200

ENT FCU/Élan: $400



Store:

Eddie Bauer: $1,050

Wal-Mart: $3,200

F1098
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Postby F1098 » Fri Jan 25, 2013 9:37 pm

Update: Called to request a PC, CSR wouldn't convert it to Cash Rewards.

However, what she ended up doing is taking the non-rewards cards limit from $13k to $11.5k & opening a new Bank Americard Cash Rewards card with 1.5k limit. So I'll use the Cash Rewards 1.5k purely for gas.

I'm not thrilled about the limit going down on the original card, but I will like the rewards on the new card...at least until I can get my hands on a PenFed.

What are your thoughts on my solution?
AMEX PRG NPSL

AMEX EveryDay: 1,000

Discover IT: $11,200

BoA Visa: $11,500

BoA Cash Rewards: $1,500

Barclays NFL Extra Points: $3,500

Barclays Rewards: $1,500

Capital One VentureOne: $7,500

Capital One No Hassle Rewards: $2,750

Capital One Quicksilver Rewards: $1,200

Chase Slate: $3,200

ENT FCU/Élan: $400



Store:

Eddie Bauer: $1,050

Wal-Mart: $3,200

Sevenfeet
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Postby Sevenfeet » Sat Jan 26, 2013 5:44 am

Frankly, I'm surprised at their "solution" for two reasons. First, I converted my old BofA World MasterCard (which originally had been the same Platinum Plus MasterCard when I open it in 2008) just last week after calling and asking if they had a better product. I should be receiving the BankAmericard Cash Rewards card any day now. Not only was the process easy but I also asked for a CLI and got that thrown in too!

But honestly, why bother granting you a new card with a small limit while reducing your old card by the same amount? What difference does that make? As had been stated above, the rewards system is capped anyway so you couldn't use all $13K to max your rewards to an unreasonable amount. I appreciate the agent for creative thinking but there is no reason for splitting their relationship with you into two products unless you explicitly wanted that. Weird!
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)


CC Deville
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Postby CC Deville » Sat Jan 26, 2013 7:13 am

F1098 wrote:Update: Called to request a PC, CSR wouldn't convert it to Cash Rewards.

However, what she ended up doing is taking the non-rewards cards limit from $13k to $11.5k & opening a new Bank Americard Cash Rewards card with 1.5k limit. So I'll use the Cash Rewards 1.5k purely for gas.

I'm not thrilled about the limit going down on the original card, but I will like the rewards on the new card...at least until I can get my hands on a PenFed.

What are your thoughts on my solution?


Okay....this is their solution? Open a new tradeline with a toy credit line and a lower AAoA? Did they give you a reason for not offering a PC? Is it because your account was not yet one year old?

Good grief...

DavidNY
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Postby DavidNY » Sat Jan 26, 2013 8:51 am

FIA splits credit lines to avoid increased exposure so I'm not surprised with the solution.

Is the promo APR tied to the original card?

F1098
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Location: Denver, CO

Postby F1098 » Sat Jan 26, 2013 2:33 pm

Yes, it was because I just opened the card in Sept. I still have 0% intro APR til Dec2012.
AMEX PRG NPSL

AMEX EveryDay: 1,000

Discover IT: $11,200

BoA Visa: $11,500

BoA Cash Rewards: $1,500

Barclays NFL Extra Points: $3,500

Barclays Rewards: $1,500

Capital One VentureOne: $7,500

Capital One No Hassle Rewards: $2,750

Capital One Quicksilver Rewards: $1,200

Chase Slate: $3,200

ENT FCU/Élan: $400



Store:

Eddie Bauer: $1,050

Wal-Mart: $3,200



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