glxpass said:lhendricks92 said:Of all the big banks, BofA seems to know the most and care the least about BT arbitrage.
I think you're right about the BTs themselves, but BoA gave me a stern warning when I created a credit balance on one of my cards by overpaying its balance when a did a BT from another bank's credit card. They allowed it, but said it was against the rules of use for the card. In hindsight, I should have simply done another BT with the BoA card first so that the upcoming BT wouldn't have created a credit balance.

The CSR's next statement, however, was more ominous: BoA carefully monitors how funds move between your accounts. So if you do a BT with your BoA card, ask them to transfer it to your BoA checking account, and move those funds to a better yielding account at another institution, it sounds like a potential recipe for adverse action, especially if you repeat the process. So when doing a BT from my BoA card to a checking account, I now designate one of my Rewards Checking accounts as the destination for the BT funds. IOW, I recommend against using a BoA deposit account to funnel BT money elsewhere. Just my opinion.

Absolutely correct - BofA wants you take their money, but they don't want to see it. Not a good place to do your laundry.

FWF = FatWallet Finance forum, and I've added the A0R link to the top of the first post.
Happy reading.

win333 said:How can you have 2K posts and not know what any of this is?Easy - most of those 2k posts weren't in the finance forum.

When I applied, it simply said "a promotion code is not available for this product," and I think the box was grayed out. So no, no promo code.

Yes. From what I remember, the conversation went like this:

Me: "Hi, I just received my new credit card and I was wondering if you could send me a balance transfer as a check so that I could pay off some personal debt."
CSR: "Sure, what's your account number?"
Me: "It's XXXX. Also, I noticed my line is only 12,500. Could I get a credit line increase to get a larger balance transfer?"
CSR: "I can help you with that. How much would you like?"
Me: "Well, let's say 20,000."
CSR: "OK, an increase of 8000, let me see about that. I'll need some information: what's your annual income? Who do you work for?"

gave the info, then sat on hold for about 10 minutes.

CSR: "Hello? Congratulations, I got that increase approved for you. What address would you like the check sent to?"

Then I had to give him my home/billing address, even spelling out street and city name. Odd that he didn't have access to it. Also, as mentioned above, he automatically cut the check for the entire increased credit line without asking if that's exactly what I wanted.

xCarsonx said:win333 said:Ethical? what a joke!

I agree. Banks that will raise interest rates with no warning or reason, and do things like cancel CC because you have high balances with other issuers deserve to get screwed over. They have been attacking people with a lack of credit knowledge for years and now that it is biting them back they want a bail out from the gov't.

That's unethical.

I totally agree with this reasoning as well... when Capital One rose my 5.9 FIXED APR into the mid teens for NO REASON (I have had virtually no change in credit status and NO lates etc), what was "ethical" about that??? I had to flash my high credit score in their face just to get it back down to the 7ish% area (I don't use this card, but it is my emergency low interest rate card)..

The irony? It is the "NO hassles card" HA...

Anyways, sorry to threadcrap -- I do want to say I respect all that do the AOR.. I am just too wimpy to do it myself (but have considered it many times)...

cashmonkey said:Update: a second hard inquiry from Barclays Bank (Juniper) just showed up on PM123. WTF?

The original inquiry:
BRCLYSBANKDE, 3/5/2008, TransUnion
The new inquiry:
BARCBKDE, 3/21/2008, Equ!fax

I'm tempted to dispute it. Still, I did request credit from Barclays... just two weeks earlier!

Have you been approved yet?

cashmonkey said:win333 said:Have you been approved yet?Yeah, approved, have the card, and their 13k has been sitting in my bank account for over a week. Maybe the check settling process triggered something... ?

That sucks!

I've been think i'm going to freeze all 3 reports after my AOR.

jevon90 said:I guarantee the second Inquiry came when you got the 12.5 to 20K CLI:
If I'm not wrong, the second inquiry was from Juniper. The 12.5 to 20k CLI was from National City and without an additional credit pull.

Correct, cashmonkey?

cashmonkey said:lp244 said:jevon90 said:I guarantee the second Inquiry came when you got the 12.5 to 20K CLI:
If I'm not wrong, the second inquiry was from Juniper. The 12.5 to 20k CLI was from National City and without an additional credit pull.

Correct, cashmonkey?That's correct - no CLI requested or received on the Juniper card. My application was approved instantly, too.
My bad, I mistook National City for the National Parks card it seems or I'm growing stupider. anyways I have no idea why you got the second inq then.