Capital One Credit Cards Whipping Up On Bank of America

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Most of us have read accounts of the callous nature of the Bank of America towards its customers and employees. Jack Mitchell, a former Black employee, filed a lawsuit against the banking monolith for NOT practicing inclusion, in particular not allowing him to serve some of the wealthier White clients.

I have two credit cards with Bank of America with a combined credit limit of close to $20,000. I have not used either of the cards for over a year because I found a superior cash rewards Master Card with Sam’s Club.

However Bank of America sent me a great Balance transfer offer with zero percent balance transfer fee and 0$ APR for 15 billing cycles. I applied to pay off a car loan balance and all seemed well with the world. I expected a quick approval as my TransUnion credit score is 810.

I was mildly shocked when they rejected my application stating they needed to see my Experian credit report which I have frozen. I once tried to thaw my Experian credit file, but they demanded a ton of documentation despite the fact they had issued me a PIN for easy unfreezing! I have since bought a nice home and a couple of cars all with lenders who do not require the approval of Experian.

To summarize, Bank of America did not issue me their Visa Balance Transfer card even though I had close to $20,000 credit limit without a single late payment AND had been with them since 2005.

As you can see below, Bank of America will close my account due to inactivity. Good riddance! I know I will immediately shred all future offers from them as Capital One, who prudently does NOT require Experian, offers better service and products anyway.

Bank of America cancelling high limit cards due to inactivity

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3 comments on “Capital One Credit Cards Whipping Up On Bank of AmericaAdd yours →

  1. Doctor of credit guru William Charles points out that capital one does not require Experian credit report.

    Many US consumers have reported Experian makes it almost impossible to reactivate an account customer has frozen due to identity theft concerns.

    We told our car lender we would walk if they required an Experian credit report for a credit approval. They found lender who were fine with equifax and transunion ONLY. Experian’ s draconian policies and inconveniences they impose on borrowers will soon sink the Allen, TX company!

  2. I wish Samantha Cossick would answer a credit card question for us: My wife has a capital one credit card with her own number under account originally opened by me.

    She received a 18 month 0% APR, no balance transfer fee, offer from Bank America Master card.

    Can she transfer our joint balance from capital one to Bank America? Thanks miss cossick!

    1. Dear Miss Cossick,

      I have a solution to one of your reader’s questions regarding executing balance transfers with Bank of America BankAmericard MasterCard. We applied for a balance transfer card with the promotion of no balance transfer fee for the first 60 days AND no interest for the first 18 months!

      The application process allowed us to request a balance transfer of $7500 from our American Express Card. However, they were unclear whether the $7500 had been apporved even though we were issued a card with a $9000 credit card limit.

      They make it difficult to determine if your transfers have been approved or not on their website. So we applied again for the $7500 transfer ONLY to find out they were in receipt of the the original application transfer request!! Then it was difficult to cancel one of them even though they both far exceeded our $9000 credit limit!!

      The way one determines if balance transfers has been processed is way too complicated. Here are the steps: 1. Transfers 2. Credit Card Balance Transfers 3. View other offers(Absurd-who would think this is the path?!) 4. View Card Transfer History

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