my credit card company was bought by bank of america, so now i have a bank of america card... I know it is bad to cancel a card or leave it inactive. Since i dont like bank of america, is it smart for me to transfer my card balance to Chase and keep my BOA card open and just use it once in a while. or should i just pay my BOA balance and use it less often. I would like to have a credit card to build my credit score but i dont want that card to be BOA. Any sugestions?
2007-09-03 05:34:13 · 7 answers · asked by Lex 2 in Business & Finance ➔ Credit
If you've had the BOA card for a long time, you don't want to close it as you would close your credit history. Pay it off and just don't use it or only use it occassionally and pay it in full.
Chase's reputation is a whole lot worse than BOA. My credit card was bought up by Chase and I am still cringing over that.
2007-09-03 08:02:07 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
You're entitle for what credit card you should use. Before cancel the card, call and ask what interest rate they offer. I have seen customer who's mad with the bank and closes the account that is 5 or 7% fixed rate. BIG MISTAKE
Don't forget that bank knows when customers transfer the balance. If you do it too often, you will not get a good rate. Bank does have record of who's transfering balances.
We don't stop people for closing the account. You have to look out for your own interest. If you're late on your payment often and expect to waive late fee, we can only do it once a twice, transfer to another card with the same pattern won't help.
2007-09-03 05:46:57 · answer #2 · answered by Who wants to know 4 · 0⤊ 0⤋
I worked at Chase for 11 years and loved every minute. I was in the escalated credit card case management division, wrote Correspondence, Office of the President and Chargeback (Dispute) training and retail banking. If I hadn't moved to LA where there are no Chase banks, I would still work there. Chase has thousands of types of credit cards, debit cards and a checking/savings account to meet every need. They also have thousands of people that really care about their work and are rewarded for excellent customer service. I wouldn't go anywhere else, especially B of A where numbers count more and if any difficult customer service issue arises, the customer has to call a center as the personal banker is not allowed to help. That is why I didn't take a branch position.... a poor customer service model. And we have our CEO, Jamie Dimon, who rescued Bear Stearns and bailed out the Federal Reserve of that mess. I am not selling my stock!
2016-05-20 02:26:05 · answer #3 · answered by drusilla 3 · 0⤊ 0⤋
find out quickly what it is that you dont like, if they broke a nail of yours , well, think twice before you change over your balance- cause there maybe 100 dollars or more charges depending on the bank transfer or a percentage which can come out to 1000 bucks. If you have 1000 bucks to throw around just because they broke a nail of yours at the bank, well- that was some expensive nail that was broken.
2007-09-03 06:22:27 · answer #4 · answered by Anonymous · 1⤊ 0⤋
If you don't like BOA, pay it off and open a Chase card. Then, cancel the BOA--It's not bad to cancel a card.
2007-09-03 06:03:14 · answer #5 · answered by Suzy 5 · 0⤊ 1⤋
hase has a pretty horrible rep in everything from credit cards to mortgages. I'd stick with BOA.
2007-09-03 05:43:00 · answer #6 · answered by john_ansel 1 · 1⤊ 0⤋
I can't make a determination will I hear why you don't want a Bank of America card.
2007-09-03 05:51:27 · answer #7 · answered by sophieb 7 · 1⤊ 1⤋