AGR credit card change (October 2022)

[oregon pioneer]

I just logged into my Bank of America AGR card online using my mobile app. Got a message that said my card will be closed on Oct. 23, 2022. I will not be able to make any purchases after that date. It also said that any and all auto payments after that date will be canceled. It also said I would not be able to access my account online after that date.

Ah, so that is why they have gone back to sending out paper bills. Our accounts cycled in the past week, and we have both received paper bills in the mail, as well as the "paperless" email notifications as usual. I see on the notice that it is a "courtesy" because we will no longer have online access to our accounts after October 21 (two days BEFORE the transition on the card, go figure).

I wonder, will they send us a "closing" bill as of the transition date, or if charges made after our billing cycle date and before the transition will just roll into the new account at FNBO? It would be really nice for me (the family CFO) if our cycle billing date remained the same.

 

[joelkfla]

I wonder, will they send us a "closing" bill as of the transition date, or if charges made after our billing cycle date and before the transition will just roll into the new account at FNBO? It would be really nice for me (the family CFO) if our cycle billing date remained the same.

From Account FAQs - Amtrak Guest Rewards | Card by FNBO

• Does my payment information and due date change?
  ...Your payment date will change depending upon your statement date. Statements will be mailed from FNBO after 10/23/22.

 

[GAT]

I opened my new AGR B of A card Sept. 8 of last year. Five days ago (Sept.8) I was charged the $79 annual fee. Does B of A get to keep it all? or will they prorate the unused portion back to me before transferring my card balance to FNBO, where I'll have to pony up the new $99 fee? I'm going to call them tomorrow to find out.

My current B of A card has a ~$700 credit balance due to a refund of a trip Amtrak cancelled. I hope that credit balance will transfer over seamlessly.

 

[SarahZ]

I could call BoA customer service, but I thought maybe one of you would know.

Using fake numbers here:

When I opened my AGR account, I already had an Alaska Airlines card through BOA with $10,000 worth of credit.

They took part of that credit and used it for the AGR card, so I then had $7000 available on the Alaska card and $3000 available on my AGR card.

Since my AGR account with them is being transferred, do you think they'll restore my available credit on my Alaska card back to $10,000?

 

[Michigan Mom]

I could call BoA customer service, but I thought maybe one of you would know.

Using fake numbers here:

When I opened my AGR account, I already had an Alaska Airlines card through BOA with $10,000 worth of credit.

They took part of that credit and used it for the AGR card, so I then had $7000 available on the Alaska card and $3000 available on my AGR card.

Since my AGR account with them is being transferred, do you think they'll restore my available credit on my Alaska card back to $10,000?

That's a good question probably many of us would like to know the answer to!

 

[Trogdor]

I could call BoA customer service, but I thought maybe one of you would know.

Using fake numbers here:

When I opened my AGR account, I already had an Alaska Airlines card through BOA with $10,000 worth of credit.

They took part of that credit and used it for the AGR card, so I then had $7000 available on the Alaska card and $3000 available on my AGR card.

Since my AGR account with them is being transferred, do you think they'll restore my available credit on my Alaska card back to $10,000?

Your credit line is going to be specific to you, based on a credit card company’s interpretation of your credit history. There isn’t necessarily going to be some blanket policy out there about how much credit they’re willing to extend to customers.

Just because you had $10,000 in total credit with them back in the day doesn’t mean you’ll get $10,000 today. It doesn’t even mean you’ll be limited to $10,000. If your financial situation has (in their eyes) improved, they might offer a higher limit. If they are concerned about your ability to pay, they may keep your limit where it is.

They will take your total outstanding credit into account, including that at other banks.

 

[zephyr17]

Okay, I finally got the packet and have one question. Foreign transaction fees. "No foreign transaction fees!" is not featured as one of the benefits, although BOA rather prominently proclaimed it. The cardmember agreement states that the may (my italics) charge a foreign transaction and the amount of the fee will be listed in the Schedule. The cardmember agreement appears to be a generic cardmember agreement for the bank and not specific to AGR card. The "revised terms," which are specific to the AGR card, do not list a foreign transaction fee, just the annual fee, cash advance, cash equivalent, balance transfer, returned payment fees.

My interpretation is the may coupled with not listing a foreign transaction fee means there is not one. They certainly have not disclosed it.

Since I go to Canada quite a lot, and I charge everything I possibly can to my AGR card, this is an important issue to me.

 

[zephyr17]

Your credit line is going to be specific to you, based on a credit card company’s interpretation of your credit history. There isn’t necessarily going to be some blanket policy out there about how much credit they’re willing to extend to customers.

Just because you had $10,000 in total credit with them back in the day doesn’t mean you’ll get $10,000 today. It doesn’t even mean you’ll be limited to $10,000. If your financial situation has (in their eyes) improved, they might offer a higher limit. If they are concerned about your ability to pay, they may keep your limit where it is.

They will take your total outstanding credit into account, including that at other banks.

I have several quite large credit lines, including one from Chase for the Freedom Card that replaced their AGR card. If I actually used them, I would rapidly exceed my ability to repay. My experience is they don't really look too hard at the dollar amount of open credit lines, as long as they are mostly unused. If your outstanding balance is a significant percentage of the open credit lines is utilized, that will ding you as it will start lowering your credit score. If it use exceeds 50% it will really adversely affect your credit score.

BOA tends to be a bit conservative on credit limits particularly on newer cards. But if you have a good credit score (which will incorporate your amount of credit utilization), income, and, in particular, history of responsible credit usage with BOA itself, chances are good.

A human isn't going to look at it and the only outside information the computer algorithm is going to use is the credit score, that is where the outside credit line info really counts is how it affects the score.

I'd go ahead and request an increase to 10K a little bit after the cutover. I wouldn't explain that reason though and just request it via the website.

The only thing I'd worry about is it'll probably generate a "hard hit" inquiry on you credit profile. If you are planning to apply for another loan in the near future that's a factor, as most credit grantors look adversely on multiple credit applications in a short period of time.

 

[MARC Rider]

I have several quite large credit lines, including one from Chase for the Freedom Card that replaced their AGR card. If I actually used them, I would rapidly exceed my ability to repay. My experience is they don't really look too hard at the dollar amount of open credit lines, as long as they are mostly unused. If your outstanding balance is a significant percentage of the open credit lines is utilized, that will ding you as it will start lowering your credit score. If it use exceeds 50% it will really adversely affect your credit score.

BOA tends to be a bit conservative on credit limits particularly on newer cards. But if you have a good credit score (which will incorporate your amount of credit utilization), income, and, in particular, history of responsible credit usage with BOA itself, chances are good.

A human isn't going to look at it and the only outside information the computer algorithm is going to use is the credit score, that is where the outside credit line info really counts is how it affects the score.

I'd go ahead and request an increase to 10K a little bit after the cutover. I wouldn't explain that reason though and just request it via the website.

The only thing I'd worry about is it'll probably generate a "hard hit" inquiry on you credit profile. If you are planning to apply for another loan in the near future that's a factor, as most credit grantors look adversely on multiple credit applications in a short period of time.

I did just that recently with the AGR card, as I had way blown over my credit limit due to putting some of a down payment on a new car on the card. BOA just kept approving my charges even though I was ay over the limit, so I figured that was going to ding my credit score. I paid off the recent bill (as I always do), thus increasing my available credit again, but I requested an increase over the website. All they asked for was my annual income and its source, then the algorithm went to work, and voila!, my credit limit was increased by 50%, as I asked. Now I will be sure that most of my available credit will remain unused, and that the higher credit limit will presumably be passed over to the new card.

I think that the "hard hit" inquiry on your credit report only dings your credit score a little bit, and that the ding goes away pretty quickly, all other factors remaining the same. The biggest factor affecting the FICO score is payment history (35%), along with amount owed (30%), length of credit history (15%), new loans (10%) and mix of credit types (10%). Anyway, I got two "hard hits" on my credit report when I applied for a car loan earlier this summer (one from my bank, and then another from the dealer, from whom I got a more convenient deal), and that didn't seem to bother BOA about issuing me a higher credit limit on the credit card. And that was when I had blown over my limit for the previous month.

 

[joelkfla]

I opened my new AGR B of A card Sept. 8 of last year. Five days ago (Sept.8) I was charged the $79 annual fee. Does B of A get to keep it all? or will they prorate the unused portion back to me before transferring my card balance to FNBO, where I'll have to pony up the new $99 fee? I'm going to call them tomorrow to find out.

FNBO customer service told me that the anniversary date will remain the same, so you will not be charged another annual fee until next September.

 

[Tennessee Traveler]

Would you please direct us to this BOA confirmation? Thanks.

The BOA confirmation is on the BOA account online. When you sign on to your BOA Amtrak cards, the first thing that appears is a message that BOA Amtrak card account will close 10/21/2022 and the cards are transferring to FNBO. They caution not to pay on the account after 10/21 as EVERYTHING including your balances, etc will transfer to FNBO. They will mail you a hard copy of your last bill and none of the statements will be available on BOA after the transfer. This message first appeared on my on line account today, September 12.

 

[Tennessee Traveler]

I do not use my bank's bill pay at all except for my local water district whose on line payment system charges an additional service fee for using it. I prefer to to pay on my creditor's sites, so they credit it immediately and have direct record of the payment.

If FNBO allows online payment on their card, I'll be perfectly happy.

I have another credit card at FNBO and the website works just like all other credit card on line accounts. Yes, you can set up your financial institution and pay your balances on FNBO's website.

 

[zephyr17]

I have another credit card at FNBO and the website works just like all other credit card on line accounts. Yes, you can set up your financial institution and pay your balances on FNBO's website.

Great! Thanks for confirming. Was having a hard time imagining they would not have provided that basic functionality, but did have a shred of doubt after @dlagrua's post.

 

[jebr]

I could call BoA customer service, but I thought maybe one of you would know.

Using fake numbers here:

When I opened my AGR account, I already had an Alaska Airlines card through BOA with $10,000 worth of credit.

They took part of that credit and used it for the AGR card, so I then had $7000 available on the Alaska card and $3000 available on my AGR card.

Since my AGR account with them is being transferred, do you think they'll restore my available credit on my Alaska card back to $10,000?

Doubtful they would do so automatically. Once that credit limit is tied to the card, it'll stay with that card even with the transfer to the new bank. At this point BoA may not be able to even adjust that limit.

That said, once the transfer is complete you could request a credit line increase and see if it'll be granted. Chances are better after the move as BoA's direct risk has been lowered, but it'd still be contingent on them being comfortable with adding that additional credit after reviewing your current credit profile.

 

[GAT]

FNBO customer service told me that the anniversary date will remain the same, so you will not be charged another annual fee until next September.

Many thanks! That means that the timing of my B of A fee is a lucky one, not an unlucky one. I guess you could say it was serendipitous.

 

[TinCan782]

Many thanks! That means that the timing of my B of A fee is a lucky one, not an unlucky one. I guess you could say it was serendipitous.

Me too!
Just got my fee billing notice and the BofA fee will bill on my October 2022 statement.

 

[TinCan782]

Doubtful they would do so automatically. Once that credit limit is tied to the card, it'll stay with that card even with the transfer to the new bank. At this point BoA may not be able to even adjust that limit.

That said, once the transfer is complete you could request a credit line increase and see if it'll be granted. Chances are better after the move as BoA's direct risk has been lowered, but it'd still be contingent on them being comfortable with adding that additional credit after reviewing your current credit profile.

From the FNBO FAQ
"Your credit limit will remain the same. Please update your income information when you activate your card to help us evaluate your account for future credit needs, including potential credit line increases."

 

[joelkfla]

Me too!
Just got my fee billing notice and the BofA fee will bill on my October 2022 statement.

Did the notice still say you can cancel within 30 days of billing and get the fee refunded? I wonder what would happen if you tried to do that within 30 days but after 10/23.

 

[TinCan782]

Did the notice still say you can cancel within 30 days of billing and get the fee refunded? I wonder what would happen if you tried to do that within 30 days but after 10/23.

 

[DaveW]

I read my amtrak letter/packet and my BofA stuff. It says all accounts will be transeferred (unless they are not).

I am curious about my balance transfers I recently put on my BofA card -> zero percent interest until May.

I now know why BofA have been trying to get me started with another credit card with them (I wondered why I would need more than 1).

 

[zephyr17]

I read my amtrak letter/packet and my BofA stuff. It says all accounts will be transeferred (unless they are not).

I am curious about my balance transfers I recently put on my BofA card -> zero percent interest until May.

I now know why BofA have been trying to get me started with another credit card with them (I wondered why I would need more than 1).

Think you are going to have to have a chat with BofA about that. My guess, and it is only a guess, is the balance will go over, but it'll start accruing interest. BofA ought to know if they've made an arrangement for FNBO to honor that, or if they'll keep it. They may well suggest opening another BofA card and having the arrangement transferred to that.

As for me, since I pay my AGR card off every month, I'll do so early and have the account transferred with zero balance.

 

[NorthShore]

BOA offers a credit check feature, with updated FICO scores, online with one's account. Will FNBO offer something similar?

 

[zephyr17]

BOA offers a credit check feature, with updated FICO scores, online with one's account. Will FNBO offer something similar?

Doesn't say, but I have other cards from other banks and all if them do, so I think it is at least likely.

 

[TinCan782]

BOA offers a credit check feature, with updated FICO scores, online with one's account. Will FNBO offer something similar?

Sounds like a question for FNBO

 

[jebr]

BOA offers a credit check feature, with updated FICO scores, online with one's account. Will FNBO offer something similar?

They offer updated FICO scores with my other card through FNBO. I would expect the Amtrak card to be the same.