Was anyone able to negotiate a lower APR on a BofA card? Please post your experience. (Retention was no help, so I contacted a Relations Manager. She told me they can't adjust my APR right now, but my account will be reviewed in a couple of months, and I should check back then). I understand the lowest available purchase rate is a fixed 9.9%. Mine is currently 12.9%, which is a sock drawer rate Saar
My BofA Visa has around 16% for purchases but prime(4.75%) for bal transfer for life. I was also recently approved for a BofA MC. The card came with 10.9% APR for purchases. I have not called to negotiate any terms either.
Saar- I PFB'd them and got a response from them, they lowered me from 11.99 to the 9.9 plus 4.75 BT for the life, here's the guy I talked to: Bradford E. White ard Services Senior Relationship Manager, Bank of America 757.441.4252. I can be reached Monday through Friday between the hours of 9:00 a.m. and 5:00 p.m., Eastern Standard Time. Bradford.E.White@bankofamerica.com
I have had a good relationship with them for a number of years. I am a premier customer and have the name of a local person to call with any problems. I got a BOA Visa. They started it at 18.9% with $5,000 CL, way under what most of my cards had. I called and got the APR reduced to 9.9% just by asking. This month, I noticed that on the bill they reduced it to 7.48% without me asking. They are also offering a 0%BT rate. I can increase my CL, but I have to do a BT.
Bank of America is excellent.I got from them everything I asked.Just one phone call does it all.My APR for new purchases is 9.9% fixed and my BT rate is 4.75% unitl paid.Great experience with BANK OF AMERICA.
You guys have had better treatment than me... I have been at 18.99% since January and they won't budge (I've tried 4 times since January). It has been "sock-drawered", but they told me I'd have to use it at 18.99% and let them make interest before they'd consider dropping my apr. I said "hmmphh". I now buy something inconsequential on the card, pay it off the next day and let it sit in the sock drawer the rest of the month. Besides, even 9.9% apr is too high to revolve on, imo. Give me 2.9% or 3.9%; I'll work with that.
Marci, I had 21% for almost 2 years. I refused to use it at that rate (I did do some bts when I first got the account, and when they first offered me prime for the life of the transfer). a couple of months before 2 years, I called a requested a rate reduction. They reduced it to 11.99. Any previous request was always answered with "No we can't lower the rate, that is the best we can do for you". Though even at 11.99 it is still one of my highest.
I am also enjoying a good relationship with BofA since Feb of 01. I also have the 4.75% V for life.. At first it was a 8.9 BT until paid. I paid on that for 9 months, then BT'd off to another card. and then I got a CL raise from 6800 to 9300 and up to 12,000 if I did a BT. I BT'd back when I got the 4.75% for life. I have a question though.. maybe someone could answer for me.. the 4.75% for life.. .. is this for the life of the card . ( except for default, of course) or only the life of the debt .... could I move the balance out to a ZERO offer for six months if I get one and then back to the BofA.. or should I not chance it ?
Cherie, It is for life of the transfer. You could bt to another card and then bt back later, but when you bt back, the 4.75 rate may or may not be available at that time.
I won't take the chance.. If a ZERO BT comes available.. I'd just moce out what I KNOW I could pay during the ZERO BT time allowances, which right now would be nil .. anyone else.. shutting computer down for now.. storm is brewing.. Cherie
Update Just had my monthly chat with Retention. Although I didn't get what I wanted, this time the agent had something else to say. "Sir, please call us again next month. I've a pretty good feeling the computer will allow me to change your APR then". At first I thought he wasn't serious, but then I remembered what the Relations Manager told me earlier (see first post in thread), and noticed these two gave me pretty much the same timeframe. Not sure whether it has to do with my bank "tenure", but I'll post the results next month. Saar P.S. - I know, joe, I know
Saar, I have both BofA Platinum Visa and MC for 9.9% fixed APR for purchases. First I got my BofA and they got mine for 16.9% var. I called in to request lower APR and they got mine down to 12.9% fixed APR. About 1 1/2yr ago, they lower my APR to 9.9% fixed for purchases. About a yr ago, Iapplied for BofA Platinum Visa and they also approved me for 9.9% fixed for purcahses. I think 9.9% fixed is the lowest. Ron.
Saar; I have a BofA at prime for life, the line is for 10,100, right now the rate is 4.75%. Keep trying. www.creditsense.com
Creditwork - how did you get that card? I have a 12K Bofa MC Plat at 10.9% and i'd use it alot more if it was prime for life. Do you pay an annual fee for that card? thanx in advance Mark LA
No, I do not pay a fee. The only thing I do is exercise it. I do that with any offer that comes along at less than 10%APR. www.creditsense.com
Thanks, Herb! I understand the 4.75% is a BT-only rate. I'm looking for a lower APR on purchases. Saar
They started me off at 18.9%. As a result, I paid them off every month in full. Finally called the relationship manager and asked for a lower APR. He lowered it to 9.9%, and they gave me a BT rate of 3.9% for the life of the BT.
