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Bank of America CC.. Need to get rid of it.

M

Mayfriday0529

Diamond Member
I have a Bank of America Credit Card with a $6000 limit and I owe $4500.

I don't want to deal with BofA anymore; I'm paying two monthly fees for it, one for normal purchases and one for a Balance transfer. It?s like $75 in charges.
I used to get charged $50 combined and now somehow it has been increased.
Their online access is weak, it shows no information about it, doesn?t tell you what your APR is, it sucks.

I was thinking of just getting another CC and doing a balance transfer with them and getting rid of BofA. You think that?s a good plan?

Also what?s a good CC company with good online statement information etc etc.


 
Originally posted by: dabuddha
Originally posted by: wvtalbot
Capital One........they rock!
Click to expand...

hahaha

Capital One = trailer park trash of credit card companies 😀
Click to expand...

exactly. Low interest rates shoudln't mean jack to you if you pay off your CC's in full all the time....
 
Originally posted by: acemcmac
Originally posted by: dabuddha
Originally posted by: wvtalbot
Capital One........they rock!
Click to expand...

hahaha

Capital One = trailer park trash of credit card companies 😀
Click to expand...

exactly. Low interest rates shoudln't mean jack to you if you pay off your CC's in full all the time....
Click to expand...

Jesus guys quit being so helpful I wanted to see the

"OMG how do I get rid of this capital one card" thread in 6 months.
 
i love my BoA and Amex.... I transfer the balance to one of them for 0% interest for 6-8 months, then usually by that time, the other one sends me 0% balance transfer checks, so i transfer it back.... Needless to say, i haven't paid any interest or fees in awhile 😀
 
Originally posted by: aphex
i love my BoA and Amex.... I transfer the balance to one of them for 0% interest for 6-8 months, then usually by that time, the other one sends me 0% balance transfer checks, so i transfer it back.... Needless to say, i haven't paid any interest or fees in awhile 😀
Click to expand...


Yeah, i got caught on that. After a year BofA started the fee.
 
Pay it off.
Pay it all off quickly.
It will take you years to pay off the debt making those small payments.
 
I have a B of A CC too and never use it because the benefits are bad. I've got a $5k limit and only keep it to improve my credit score.
I don't pay any fees for it so it's OK.
 
Don't use credit cards (or at least pay off the balance each month)! I have one thru my bank just in case, but when I use it I pay it off completely, so I don't ever pay interest.

Only buy things you can afford... how's that for a novel idea!

Dave Ramsey ([url]www.daveramsey.com)[/url]

Edited to make the link actually be a link.
 
Originally posted by: adgriffis
Don't use credit cards (or at least pay off the balance each month)! I have one thru my bank just in case, but when I use it I pay it off completely, so I don't ever pay interest.

Only buy things you can afford... how's that for a novel idea!

Dave Ramsey ([url]www.daveramsey.com)[/url]

Edited to make the link actually be a link.
Click to expand...


Yes, I know and I have been doing that for over a year now. Got my other two CC's paid off, two school loans paid off. Now trying to pay off this other CC but crap $75 interest charge a month. Montly bill at the moment is $127, I justed paid $400 to it for it.

So my Idea was get another CC, get a balance tranfer. Cancel B of A CC and pay of the new CC faster.

 
Just watch for a mailing or an offer that has NO FEES on balance transfers and also 0% for XX months. Lots of people do the transfers but charge you a percentage which is lame.
 
We've got a Chase mastercard with rewards. Low rate (because we sometimes have to carry a balance), and the rewards aren't too bad.

We also have a CapitalOne. Last year I believe they had one of the better International exchange rates (with no extra fees) so it was useful for my wife to use when she travelled to the Philippines.

I'd suggest doing alot of research, and find the card that's right for your situation.
 
Originally posted by: Jnetty99
I was thinking of just getting another CC and doing a balance transfer with them and getting rid of BofA. You think that?s a good plan?

Also what?s a good CC company with good online statement information etc etc.
Click to expand...

That's exactly what I would do.

1) Find a credit card which offers a balance transfer at 0% APR for 12 months with no balance transfer fees!
2) The cc should also have no annual fee.

Assuming you make ALL your payments on time (even 1 day late and you will lose your promo 0% rate), never go over your limit and payoff your balance in full within 12 months then you will pay $0 in interest.

$75/mo x 12 months = $900 a year in finance charges which you can avoid.

The Citi® Dividend Platinum Select® Mastercard offers:
  • 5% cash back on purchases at supermarkets, drugstores and gas stations
  • 1% cash back on all other purchases
  • $5 cash back for each balance transfer of at least $1,500
  • Access to Citi® Identity Theft Solutions
  • 0% APR on new balance transfers for first 12 months
  • No annual fee
 
Originally posted by: RossMAN
Originally posted by: Jnetty99
I was thinking of just getting another CC and doing a balance transfer with them and getting rid of BofA. You think that?s a good plan?

Also what?s a good CC company with good online statement information etc etc.
Click to expand...

That's exactly what I would do.

1) Find a credit card which offers a balance transfer at 0% APR for 12 months with no balance transfer fees!
2) The cc should also have no annual fee.

Assuming you make ALL your payments on time (even 1 day late and you will lose your promo 0% rate), never go over your limit and payoff your balance in full within 12 months then you will pay $0 in interest.

$75/mo x 12 months = $900 a year in finance charges which you can avoid.

The Citi® Dividend Platinum Select® Mastercard offers:
  • 5% cash back on purchases at supermarkets, drugstores and gas stations
  • 1% cash back on all other purchases
  • $5 cash back for each balance transfer of at least $1,500
  • Access to Citi® Identity Theft Solutions
  • 0% APR on new balance transfers for first 12 months
  • No annual fee
Click to expand...

Thanks for the Info Rossman

I dont think Citibank will approve me (I think). I got good credit, probably 700 fico, but they base the approval on the Debt to income Ratio, it must not be over 47%.

I applied for a simple $500 last year with them and was deny, probably because I had a 55% Ratio. Since then though I think my debt to income ratio is below 47%
 
Originally posted by: Jnetty99
Originally posted by: RossMAN
Originally posted by: Jnetty99
I was thinking of just getting another CC and doing a balance transfer with them and getting rid of BofA. You think that?s a good plan?

Also what?s a good CC company with good online statement information etc etc.
Click to expand...

That's exactly what I would do.

1) Find a credit card which offers a balance transfer at 0% APR for 12 months with no balance transfer fees!
2) The cc should also have no annual fee.

Assuming you make ALL your payments on time (even 1 day late and you will lose your promo 0% rate), never go over your limit and payoff your balance in full within 12 months then you will pay $0 in interest.

$75/mo x 12 months = $900 a year in finance charges which you can avoid.

The Citi® Dividend Platinum Select® Mastercard offers:
  • 5% cash back on purchases at supermarkets, drugstores and gas stations
  • 1% cash back on all other purchases
  • $5 cash back for each balance transfer of at least $1,500
  • Access to Citi® Identity Theft Solutions
  • 0% APR on new balance transfers for first 12 months
  • No annual fee
Click to expand...

Thanks for the Info Rossman

I dont think Citibank will approve me (I think). I got good credit, probably 700 fico, but they base the approval on the Debt to income Ratio, it must not be over 47%.

I applied for a simple $500 last year with them and was deny, probably because I had a 55% Ratio. Since then though I think my debt to income ratio is below 47%
Click to expand...

My FICO was only 634 and I was approved, however I'm not sure what my debt to service ratio was at the time.

It can be done, the trick is finding a cc which will APPROVE you with 0% APR BT for 12 months with no fees.
 
Apply for the Citi AAdvantage Gold, if you apply for anything Citi.

I think they've recently tightened up the PremierPass (which used to be another one that was very easy to qualify for) but AFAIK the AA is still one of their easiest cards to get.

Viper GTS
 
Citibank has been a good company to deal with. I was able to get the Platinum card a year ago with a 5k limit and 0%apr for 1 year. Their site it pretty good, but not the easiest to use. I would give MBNA the award for best website and payment setup.
 
Originally posted by: KentState
Citibank has been a good company to deal with. I was able to get the Platinum card a year ago with a 5k limit and 0%apr for 1 year. Their site it pretty good, but not the easiest to use. I would give MBNA the award for best website and payment setup.
Click to expand...

I have a Schwab MBNA cc but I haven't used their online payment feature, I usually submit it through my CU and it takes a few days to clear.

However CitiBanks online payment is awesome. If you submit your payment before 1PM EST it's applied the same day for FREE. Some other creditors will charge you a fee to apply same day payments, what a ripoff.
 
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