win333 said:What I would do is pay the closed line off 1st(when your ready)dispute the balance and watch your score.win333 - not likely as these are 0% balances that are good for 9 months (Biz) and 12 months (personal). So I will definitely keep them around until the rate runs out and that's when I'll pay them off. That's why it didn't make sense for BofA to shut me down when I already had most of their money - since closing the line doesn't force me to repay my balances right away. So I'm definitely milking BofA until the last drop.

Edit: Oops - I overlooked the (when you're ready) part I'll definitely do as you say once I pay these balances off.

Amazing - 130+ inquiries with credit scores ranging from 640 to 745. Just when you think you have some idea of how the MATRIX works... a dude shows up with more inquiries than we thought the CRA had slots for AND without too much damage to his scores.

win333 said:BIZCREDIT NOW just updated the INQ info.

http://creditboards.com/forums/index.php?showtopic=291548&st=125&#entry2684041

WTF!

So I get my e-bill from BofA Biz, which is the card that BofA closed on or before 10/03. Since then I had a statement on 10/20, which was correct and then now I get a statement on 11/20 - which indicates $450+ in finance charges!!!

So I call BofA-Biz, asking WTF? And the CSR tells me that on account closure the rate was reset to 15.xx% and that there is nothing that she can do about it. She wouldn't remove the finance charge, she wouldn't reset the rate.

I mean "sh$t"! I'm on hold right now to speak to a supervisor, but I don't see anything positive coming out of this.

The promo rate was supposed to last through March 2009.

Ok - so I'm f$cked. Supervisor says that since the account is closed, she can't do any changes to it and that the rate was reset and the only thing she'd advise me to do is to pay off the balance and fax/write a letter to their correspondence dept.

Bunch of Bastards!

For future reference - this is the correspondence info she gave me:
fax# 888-958-2273
P.O.Box 15463
Wilmington, DE 19850-5463

EDIT:
I'm looking at my scanned card agreement that came with the card - it states:
"For the introductory period the daily periodic rate for balance transfers is 0.0%. If we do not receive the minimum payment due during the billing cycle or you close your account, the BT rate indicated in the additional disclosure will apply."

To me it sounds like they should have no reason for the rate change since I didn't close the account - they did!

Update: So I faxed my letter on Wednesday. I'm not sure I'll get much of anything resolved through the correspondence dept. However, codename47 suggested I call the executive customer relations dept. I did precisely that - and talked to a lady, who wrote down all the info and promised to have an answer ready by midweek next week.

I decided I'm going to wait it out and not pay my balance down. I requested to i) get the finance charge reversed and ii) get the rate reset. I looked through the whole card terms and I don't see anything that would give them a right for a rate change if they close my account. Hopefully, they'll agree and get it corrected in my favor.

To be frank, a BT on this biz card was the worst idea I had. I should have just used the CL, move it to personal and take a huge BT from personal (while they were still opened). Oh well. Even a bad experience is an experience.

The worst thing is the fact that when something goes wrong like this - you feel so powerless and helpless, because the resolution hangs on a yes/no of some customer service person. And if they say no, there seem to be only a few venues for a resolution.

Edit: Executive Customers Relations: 704-386-5687
Wait time was maybe a minute, then you talk to a "generic" person, who will help you or will refer you to a specialist, if not qualified to handle your case. I got a lady "specializing" in credit cards and got her direct phone number.

jairocon, have you talked to kkerty89? he endured similar adverse action from BofA, but i don't think he lost his BofA biz promo rate. not sure how that would help, but at least it's a data point to share with the buffoons at BofA.

VICTORY!!!

After going back and forth w/ executive customer relations I am happy to announce that:

1.) The finance charges have been reversed and I will receive a credit of $425.xx on my next statement.
2.) My 0% intro rate has been reinstated!

It did take a week of calling and faxing and a few setbacks - but being persistent and being 100% sure that I was right paid off at the end.

The executive office did apologize and I was told that they will follow up on this issue when my next month's statement closes.

Maybe I should have asked for some kind of a written statement to that effect, but I was so pleased in the end that I didn't even think about that.

I do have to give props to this level of CSR!

I received prompt callbacks when I couldn't get in touch with them, they tried calling both my home and biz numbers, they left messages. I faxed stuff directly to them (it's nice when a CSR has a fax machine right on their table).

I have also pointed out that in case of a negative resolution - every single day that this investigation goes on - I am accumulating new finance charges - and I was given specific assurances that while they are investigating, I will not accumulate any finance charges - or their office will manually reverse them.

In the end they finally conceded, that I was right and that this was actually the first time they have seen a promo->regular rate change upon involuntary closure of the account and that they will definitely investigate to see if this is a system-wide error or a singular occurrence. In any case, I'm happy.

Thank you to codename47 - who instructed me to call the exec office - I wouldn't have thought of it on my own!

I'm also proud of myself - my first instinct was to pay if off to prevent any further damage. However, since it's a closed account - if I paid it off, then I wouldn't be able to benefit for the next 4 months. So I held off paying anything until it was resolved. I did push for them to specifically state that while they investigate - I'm in the clear in terms of finance charges.

Anyway, truth to be told - in case of a negative resolution - this would have been messy and ugly, and I'm not sure how I would have proceeded.

nice job, j! any chance this level of ninja CSR could help you get your accounts reopened?

Was the executive office able to get your accounts reopened? Did you request for that?

Anyone here happen to have the phone number for executive service for Citibank Credit Cards? I might want to contact them.

congrats on results to date

Jairocon, are you monitoring scores, do you know how paying down those 6mo scores is affecting your profile?

Also, how did you extend NatCity biz and M&T biz?