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George K

Conductor
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Sep 7, 2014
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1,192
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I've read lots of "Oh No!'s" regarding the supposed switch of AGR from Chase to Bank of America.

Why is Bank of America a problem?

- George, who has never banked with them.
 
Lots of horror stories out there George!

They used to be North Carolina National Bank, and when the Bank Merger Mania started , they swallowed up lots of smaller Banks and Sold Assets/Closed Branchrs/Layed off thousands etc. (They called these types Corporate Raiders)

BOA used to be the Largest Bank in California. When NCNB swallowed them up, they got rid of all the "small potato" customers by setting minimums on accounts, charged higher loan rates,paid lower interest etc.

They were the first to try to charge people for using their debit cards,Jack up fees etc. until Dodd/Frank and Customers forced them to pull back on their shadier practices.

And when the Crash of 2008 hit, they were heavily involved in all the shenanigans going on, begged for a Bail Out from Uncle Sam of Billions( too Big to Fail!) and then gave Huge Bonsuses to all the Crooked execs that had run them into the hole! ( to be fair, so did the other Big Banks and Wall Street Criminal Enterprises)

BOA= Barely Offers Anything!

I've never seen them Waive an Annual Fee or cut their fees.

I have. friends that have told me their collectors are extremely aggressive and nasty when calling, writing etc. ( lots of folks got in financial trouble in the 2000s cause of corrupt and shady Bank practices, and the panic that cost so many their jobs!)

Others probably have the same type stories about the other Big Banks and Walk Street Crooks!

I find it funny that none of us have heard from them and here it is 27 days till D-Day and Chase goes away!

Do they not want our business?

Others expierences might differ, but I've totally enjoyed my relationship with Chase!
 
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They're awful. I have a strong credit rating, but I won't do business with Bank of America under any circumstances.

I didn't exactly love Chase, but a switch to BoA is about the worst news I could have gotten about the AGR card. And I only learned about the move a few hours ago today when I received a letter stating that Chase will be switching my current AGR Master Card to a Chase Freedom card at the end of the month.

So that's pretty much the end for me with AGR. I won't be applying for the new card, and the points I accrue through other earning opportunities (like car rental, hotel stays, etc) won't come anywhere close to making up the monthly point value I earned with Chase. I'm bitterly disappointed, but I understand that things change and that business is business.
 
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I've read lots of "Oh No!'s" regarding the supposed switch of AGR from Chase to Bank of America.

Why is Bank of America a problem?

- George, who has never banked with them.
With their credit cards, you can't make a online payment unless you have a checking account with them. You would have to do a online bill pay through your bank to BOA CC. No option to just login, setup a payment account and pay your account monthly unless you have a checking with them. Second, every couple of months, they come up with new rules on the regular banking side, they change the rules of the game every couple of months to try to get some sort of fee out of you.
 
I've read lots of "Oh No!'s" regarding the supposed switch of AGR from Chase to Bank of America.

Why is Bank of America a problem?

- George, who has never banked with them.
With their credit cards, you can't make a online payment unless you have a checking account with them. You would have to do a online bill pay through your bank to BOA CC. No option to just login, setup a payment account and pay your account monthly unless you have a checking with them. Second, every couple of months, they come up with new rules on the regular banking side, they change the rules of the game every couple of months to try to get some sort of fee out of you.
I agree with this. I have a savings account with them (minimum balance, plus charging and paying off $30 a month on their Better Balance Rewards card gets me $120 a month in cash back...good deal) and they're constantly sending updates to their terms. I also bank with Chase and two online banks (Ally and Capital One) and, by far, Bank of America sends me the most updates on their terms.

I just keep the bare bones minimum with BoA. They were my first ever credit card, so I keep it just for the credit history. There are a lot better banks out there. Heck, Discover automatically increased the credit limit of my card with them by the same amount of my total limit of my BoA card...all without a credit check or me even asking! Never received a credit limit with BoA, and it's not worth asking.
 
What? I have a BofA credit card and no BofA bank account of any sort- I use online payment to pay that bill from my local credit union account.
 
Thanks for the tip about not being able to do on-line payments for their CCs unless you have a checking account with those ##@%&$!!!

One more reason to just say No to BOA!!!
I have had two B of A cards, forever and ever, though I just closed one - I finally sent them the written notice, as I had promised myself I would when I first got the Chase AGR card (one card more than I wanted). It would be really funny if I end up with another B of A card after all!

I have never had any B of A accounts except for the credit cards. I can log into my B of A credit card account and download the pdf of my bill. I make online bill payments through my local bank and credit union. I just have it set up so they send the money to my designated payees. I do not let anyone go into my account and TAKE money, I always tell my local bank where to send it. No problems, ever with this system (knock on wood!).
 
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What? I have a BofA credit card and no BofA bank account of any sort- I use online payment to pay that bill from my local credit union account.
Do you pay online via BOA website or your Credit Union website?
 
I do major banking with both Chase and B of A. Chase is only because they swallowed two saving and loans where I have loans. B of A for several reasons.

First, when I first left home, they were the only bank with branches both near my folks and near Berkeley where I was, making it simpler for them to send me money. Second, they gave me my first credit card, after they and everyone else turned me down. I went in person to my branch with an essay and an interview about why I'd be a good risk. Third, they were the only full service bank where I live now when I moved here, and I wanted something that could handle Canadian money and also that I could get to when I traveled. (Now we also have a Wells Fargo in the supermarket). Fourth, about the same time the real estate market tanked in California a few years ago, while I was in the middle of major work on a 1920 Victorian (never a cheap project), Chase cancelled two lines of credit on other properties by changing the amount available to zero even though I still had plenty of equity after the crash and was nowhere near the original credit limit. I talked to my local B of A branch manager and after some phone calls got over $100,000 in an unsecured line of credit to finish the job.

So yes there have been and probably still are crooks at B of A as Jim has charged. And yes there have been and probably still are plenty of ethical challenges in the company culture as charged. And yes they seem to have been in bed with regulators as well.

However, over a 45+ year banking relationship, they have been better partners than anybody else I know. I have several of their cards, don't use them much because I'd rather get hotel points or cash rebates, but they've never been better or worse than any other cards. Of course I read the terms, pay on time, don't exceed my limits, etc., as they will be no more flexible than any other of the big ones about screwups.
 
Do we have a definite answer on whether one can go to BOA's website and make online credit card payments if you do not have a BOA checking account?

If that's not possible, that's a deal breaker for me. I always pay online through my current credit cards' websites and have never had a problem result from doing so. (Hope I've not jinxed myself; I've never had any account compromised in any way.)

Years ago, I had a BOA credit card and did make online payments from a non-BOA checking account, but that's been awhile ago. Has this changed?
 
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I go to the BofA website. I log in. I pay my credit card from one of the checking accounts I've configured, none of which are BofA accounts since the only relationship I have with BofA is that credit card, perhaps soon to be two credit cards.
 
The thing I don't like about BOA is that, even though you're a BOA customer, each state is considered a separate bank. BOA - RI is not the same as BOA - IL which is not the same as BOA - FL which is not the same as BOA - OR. I was in PDX once and went to BOA to get money. Since it was out of state, I had to use an out of state slip. OK, that makes sense.

But here's the real kicker! I opened up an account online before they had a local branch. Once they opened that branch 2 miles away from me, I opened up a new account there (in RI). When I went to make a deposit in my older account, I was told I used the wrong slip (the "local" one) - I had to use an "out of state" slip since the account was opened in VA! (It was opened online from my home in RI!)
 
Glad to hear you had a good expierence with BOA Alice!

You're the first person I've ever heard say good things about them!

I'd think based on what Dave said, it must be a State by State thing, sort of like Marriage and Licensing Laws!

And they really do do things differently on the Left Coast! LOL

As we say, YMMV!
 
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Yes banks are controlled by both state and federal laws. It was a really big deal when banks were allowed to cross state lines, I think mid-90s.

Bank of America was founded by a San Francisco Italian when other banks wouldn't serve Italians. He also loaned out money to individuals who wanted to rebuild after the 1906 earthquake without any of the normal and usual red tape. It was the Bank of Italy then.

I think Chase might be bigger than B of A now, both have been pretty active acquiring local banks.
 
BoA has expanded by merger. When it's bought good banks (Security Pacific), the service quality has deteriorated massively. When it's bought completely corrupt lawbreaking banks (MBNA, Countrywide, Merrill Lynch), they've stayed just as corrupt and lawbreaking as before.

There's a reason people consider it a stinker. All of the "Big Six" (or however many it is now) -- BoA, Chase, Wells Fargo, Citi, etc. -- are just as bad. Many of the regional chains are still OK.

...oh. To be extra triple clear, "Bank of America's" affinity credit card department is actually the direct successor of *MBNA's* credit card department, which is famous for committing multiple major frauds against its customers. (The much smaller Bank of America credit card department was folded up when BoA bought MBNA.)
 
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I've read lots of "Oh No!'s" regarding the supposed switch of AGR from Chase to Bank of America.

Why is Bank of America a problem?

- George, who has never banked with them.
With their credit cards, you can't make a online payment unless you have a checking account with them. You would have to do a online bill pay through your bank to BOA CC. No option to just login, setup a payment account and pay your account monthly unless you have a checking with them. Second, every couple of months, they come up with new rules on the regular banking side, they change the rules of the game every couple of months to try to get some sort of fee out of you.
I had a Bank of America credit card for years, never had a checking amount with them, and made on-line payments. Is this a recent change?
 
Just checked, and Bank of America does permit credit card payment from other banks:

Pay online using an account from another financial institution's checking or money market account: Sign in to Online Banking and select the Bill Pay tab, then select Go to Bill Pay. Select Pay to/Pay from and set up your credit card account on the Pay to tab. You will need your bank's 9-digit routing number and the account number in order to set up the account.
Bank of America
 
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It's a good thing he didn't say they were offering one. And if you don't want it, just don't activate it and cancel the account.
Like Ryan, I'm happy to add the "Freedom" card to the stack of unused cards in my desk drawer, and I'm happy to cancel the account so that my total credit line doesn't increase when I get the BoA AGR card.

But,when that happens, and you want to get an AGR card through, reportedly, BoA, will your credit score take a hit because of another hard inquiry? I'd guess it will, and that's just wrong.
 
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