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George K

Bank of America

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Does anyone know for sure if this new Amtrak BOA Card will have an annual fee? My philosophy is there is no reason to flush money down the toilet on pay-per-use cards when there are plenty of good no-fee ones available. In this case I will have to weigh the value of potential Points earned to the fee, and if the numbers don't look good, the app goes in the trash.

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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

Actually, if you're concerned about your credit rating, you DO want your credit line increased! Part of the computation is how much of your credit line are you utilizing. If your limit on that card is $5,000 and it's sitting in your drawer, you're using -0-% of your limit. :) If you have another CC with a $5,000 limit and you charged $2,000, your use of your available line is 40% ($2,000/$5,000). With the new card, your use of your available line is now 20% ($2,000/$10,000) :)

 

Does anyone know for sure if this new Amtrak BOA Card will have an annual fee?

My understanding is that there will be 2 cards offered, 1 without a fee and the other with a fee. Edited by the_traveler

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No one knows anything for sure.

 

Most airline credit cards do have an annual fee, so I wouldn't be surprised if the new AGR card did as well.

 

I've rarely gotten a credit card from BOA, because they don't have many cards that I want to use. I did have a Virgin Atlantic card for just long enough to get the sign up bonus, and they struck me as functionally identical to Chase or Citi.

 

I personally would never have a bank account or mortgage or car loan with them (I go to credit unions for retail banking), but I'm happy to churn credit cards with them.

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We know for sure that there will be two cards.

 

With that a given, it's a near-certainty that there will continue to be a free card and the second will provide more benefits in exchange for a fee.

 

Perhaps everyone stressing over their credit score can explain their concern? In my experience, it's been an amazingly meaningless number.

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With several years experience in RV financing, I found that most banks considered a FICO score over 720 to be top tier. But the generic FICO score you receive if you go online and pay for it may be different than what I saw, or your credit card, auto loan or mortgage lender sees. Different models of the famous score appear because lender criteria vary. If you want to be a member of the "800 FICO Club" I guess there is reason to stress. Although true, "hard" inquiries will have some impact as will the balance-to-credit line ratio, I would guess that a very high percentage of AGR members are top tier credit, and applying for the new BofA AGR card will have little, if any, impact on that precious credit score. YMMV.

 

As a side note, I received my letter from Chase Bank who want to send me another Freedom card that I don't need. So, playing dumb, I called AGR and ask, "What's going on with you and Chase?" She didn't elaborate, except to say, "Wait a week or too and you will receive the information on our new [and improved, of course] AGR credit card."

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My concern is the affect on my credit score, not by Chase opening these unwanted Freedom accounts, but the affect of me later closing them.

 

Yea, I can just accumulate unrequested, unwanted, Freedom cards, and just keep them in a drawer unactivated. And how long will Chase allow this accounts to remain stagnate/stale, before they simply just close them? Of course, all the worthless junk mail from Chase Freedom simply gets tossed, unopened.

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We know for sure that there will be two cards.

 

With that a given, it's a near-certainty that there will continue to be a free card and the second will provide more benefits in exchange for a fee.

 

Perhaps everyone stressing over their credit score can explain their concern? In my experience, it's been an amazingly meaningless number.

And in the same vein, I'm wondering if there was this much angst when AGR switched over to Chase? My credit score is around 810; I don't think I am too worried about any huge hits to it. ;)

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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

Thats funny. My years paying their CC before I dumped them, I tried to find the option to pay with another bank could not find it. I even called CS to help me find. They told me that it was not possible. So unless something changed in the 1+ year since I stopped using them, I didn't have this option.

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It would seem that Bank of America does its best to remain at or near the top of the bank fraud mountain.

 

bank-of-americas-cumulative-legal-liabil

 

 

 

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.

Chase is not offering us a Freedom Visa card. They are forcing one upon us, without any regard to our own wishes.

 

I suppose they could simply close the account and send you a bill for any remaining balance. Have you tried calling Chase and asking them to do whatever it is you prefer? I'm more than willing to criticize Chase for any legitimate screw ups, and maybe I'm just missing something that's obvious to you, but I honestly don't see this particular development as anything worth complaining about.

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I suppose they could simply close the account and send you a bill for any remaining balance. Have you tried calling Chase and asking them to do whatever it is you prefer? I'm more than willing to criticize Chase for any legitimate screw ups, and maybe I'm just missing something that's obvious to you, but I honestly don't see this particular development as anything worth complaining about.

I did call Chase, and told them I didn't want the Freedom card. Their rep told me that I can't opt-out. I am getting a Freedom card, like it or not (isn't that complain-able here?).

 

As I mentioned, question is really, now what. I'll soon have another Freedom card sitting in a drawer, and what could that mean someday to my credit score. Is there some option that I have, for which, nothing negative can happening to my credit score? I mean, why should this change, something I have no control over, be allowed to have any negative consequences to me.

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If you no longer want the account cancel it.

 

The change from AGR card to Freedom has exactly nothing to do with your credit rating.

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Also, what everyone said about your credit score. It's completely pointless to obsess over it so much.

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I suppose they could simply close the account and send you a bill for any remaining balance. Have you tried calling Chase and asking them to do whatever it is you prefer? I'm more than willing to criticize Chase for any legitimate screw ups, and maybe I'm just missing something that's obvious to you, but I honestly don't see this particular development as anything worth complaining about.

I did call Chase, and told them I didn't want the Freedom card. Their rep told me that I can't opt-out. I am getting a Freedom card, like it or not (isn't that complain-able here?).

 

It would be really interesting if they send you a Freedom Card even if you cancel the AGR Card today. Also, I don't see how they can prevent you from canceling the card whenever you want to do so, or for that matter not activating a card that you receive and canceling it without using it. I still don't get exactly what you are complaining about.

 

Edited by jis

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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.

Absolutely! I've been paying BA online through my credit union for years. While everyone is entitled to their experiences and horror stories, I've banked with and had credit cards and multiple accounts with BofA for years and have always found them responsive and helpful. Plus one of their hidden benefits is the ability to have reciprocity with several foreign banks through their ATM's. This was particularly helpful in China when I used the China Construction Bank atm's.

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When did the last BofA to Chase transfer happen? I am trying to remember whether I ever had a BofA AGR Card. I can't seem to recall what it looked like. So it is possible that I never had one.

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Actually, if you're concerned about your credit rating, you DO want your credit line increased! Part of the computation is how much of your credit line are you utilizing. If your limit on that card is $5,000 and it's sitting in your drawer, you're using -0-% of your limit. :) If you have another CC with a $5,000 limit and you charged $2,000, your use of your available line is 40% ($2,000/$5,000). With the new card, your use of your available line is now 20% ($2,000/$10,000) :)

 

If I cancel the my new Chase freedom card, the credit scoring computers will have trouble computing 0/0. :)

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Perhaps everyone stressing over their credit score can explain their concern? In my experience, it's been an amazingly meaningless number.

 

Simple. your credit score is the most important measure of your moral worth.

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When did the last BofA to Chase transfer happen? I am trying to remember whether I ever had a BofA AGR Card. I can't seem to recall what it looked like. So it is possible that I never had one.

 

2007.

 

http://www.flyertalk.com/forum/amtrak-guest-rewards/645518-agr-no-longer-issuing-credit-card.html

 

Funny. I actually read this thread way back when Chase pulled new applications for the AGR card a few months ago.

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And at the top of page 6 is the Chase card announcement: http://www.flyertalk.com/forum/7631905-post76.html

 

 

So for that timeline:

 

January: BoA Card pulled from BoA website. A few days later AGR announces that their relationship with BoA will be discontinued, and AGR points will accumulate through April.

late-April: New Chase card announced.

The thread ends in July, but based off the posts it doesn't look like the new Chase cards started shipping out until July.

 

Hopefully we don't have to wait that long this go around.

 

Oh and it was a 5,000 point signup bonus. I imagine we'll see a larger bonus this go around, since I believe the signup bonus before the Chase card was discontinued was 12,000 plus companion coupon (of course there were some targeted bonuses that were larger).

 

http://www.flyertalk.com/forum/amtrak-guest-rewards/714690-8-000-points-chase-agr-credit-card-offer.html

 

There was also a 8k point bonus. Looks like the card shipped out in September.

Edited by chrsjrcj

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Perhaps everyone stressing over their credit score can explain their concern? In my experience, it's been an amazingly meaningless number.

 

Simple. your credit score is the most important measure of your moral worth.

 

 

Agreed. Bernie Madoff and Kenneth Lay are likely to have excellent credit and thus, excellent moral worth.

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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.

 

 

That has its advantages as well. I've been a BOA (the original California BOA) customer since before NationsBank acquired it and then renamed itself BOA. Despite that, my account still uses the same Routing Number (Northern California BOA - SoCal had its own routing number as I understood it) and account number so no need to update anything. And even though we left California 18 years ago, it's still the same account (no forced to a local account as I believe some banks will do). I'm rarely in a branch but when I am, that it's not local has not been a problem.

 

As for payments, I have a legacy MBNA credit card that is on auto-pay from a non-BOA account. While I have a legacy California BOA CC, I never use it - it's there only to be overdraft protection on the checking account - so I don't really know at this point what the payment arrangements are for it.

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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.

That has its advantages as well. I've been a BOA (the original California BOA) customer since before NationsBank acquired it and then renamed itself BOA. Despite that, my account still uses the same Routing Number (Northern California BOA - SoCal had its own routing number as I understood it) and account number so no need to update anything. And even though we left California 18 years ago, it's still the same account (no forced to a local account as I believe some banks will do). I'm rarely in a branch but when I am, that it's not local has not been a problem.

 

As for payments, I have a legacy MBNA credit card that is on auto-pay from a non-BOA account. While I have a legacy California BOA CC, I never use it - it's there only to be overdraft protection on the checking account - so I don't really know at this point what the payment arrangements are for it.

 

My debit card (now Wells Fargo) shows me as customer since 1971, Legacy times, (some random thing

 

In my 40 year experience

The bank loves you (iff you never pay late) and when you generate fees. How that works for banks -- dunno

Maybe sometimes the bank needs more money -

 

Hell I dunno -

 

BOA and such - have so much power - take a few percent of every transaction in the world's debit and credit cards in the world. A few billion or more.

Big banks can dictate terms to ANY user of payment system.

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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.

 

That has its advantages as well. I've been a BOA (the original California BOA) customer since before NationsBank acquired it and then renamed itself BOA. Despite that, my account still uses the same Routing Number (Northern California BOA - SoCal had its own routing number as I understood it) and account number so no need to update anything. And even though we left California 18 years ago, it's still the same account (no forced to a local account as I believe some banks will do). I'm rarely in a branch but when I am, that it's not local has not been a problem.

 

As for payments, I have a legacy MBNA credit card that is on auto-pay from a non-BOA account. While I have a legacy California BOA CC, I never use it - it's there only to be overdraft protection on the checking account - so I don't really know at this point what the payment arrangements are for it.

While what you say is true, in my case I opened my first account on my computer in my bedroom in RI. It said I had a VA account. My 2nd account was opened at my local branch - 2 miles from my house after BOA acquired Fleet Bank. It said I had a RI account. Why do I have to have accounts in 2 different states and I lived in only 1 and was only 2 miles away when I only lived from the now current branch before it was acquired?:huh: I did not drive the 600+ miles to VA just to open my account!

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