BOA/AOPA card

RogerT

RogerT

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RogerT
Well .. last month I cancelled my AOPA credit card because
of BOA's handling of the guy who was arrested for presenting
a bad check someone had given him to one of their banks.

So I get an email from them advising me that my account has
a credit of $198. Now that's not possible because I paid the
small balance remaining. So I check it online and sure enough
they've posted a payment to my account. Problem is .. I didn't
make it. They've posted someone else's payment to it. So yesterday
I waited on hold for half an hour trying to tell them to check
it out. I finally gave up and hung up. Try to be honest and
they blow you off. Guess I made the right decision closing it.

RT
 
I plan to discontinue using mine after this month. get my last payment in to the flying club for the 5% discount and then cut it up.
 
If you are one to keep constant balances on credit cards, I strongly suggest not closing the account. Just don't use it. The problem being, if you have balances on any number of cards, closing an account reduces the available credit amount.

If you have an available combined credit of say, $10,000 for all your cards and you have a combined current balance of $5,000 then your ratio is 50%. But, if you close a card that has an available credit of $2,500, then you've just increased your ratio to 66%. This is a key item that credit reporting bureaus use to determine your credit score. Even when you pay off balances every month, there will still be an amount reported so it behooves one to keep the available credit amount up there, particularly if you're planning a major purchase in the next year or so.

So, the best way to get rid of a card is stop using it and let it die on its own by non-use or just make use of the available credit amount by throwing a minute charge on there every six months or so. That way, you get the benefit of that available credit but BA sure won't make any money off ya on merchant fees.

As for what happen to the guy... I feel bad for him. BA gave him a bad rap and they deserve to pay but thanks to banks and legislators who do quite well in sucking up to each other... it won't happen. But, that won't stop Clark Howard from reaming them on a weekly if not daily basis. :D
 
KennyFlys said:
If you have an available combined credit of say, $10,000 for all your cards and you have a combined current balance of $5,000 then your ratio is 50%.
Click to expand...

Well .. the card has an available credit of $34,000. Now I can't believe
that a card with that high of an amount would look good on your credit
report. I would think anyone who's going to grant you credit would worry
about a high availability of card credit.

Besides .. at my age .. about the largest credit I'd ask for would be
for cars or Harleys.

RT
 
Actually, I don't think the high credit limit will make a difference to your credit score. It's the high balance that would hurt.

I closed my AOPA Visa account today. Sorry, AOPA, but the rebate was reduced too much.
 
I need to look for a new card that has a good rewards deal. I do put a lot through my main one and don't get any rebate or rewards. Which is a good one?
 
Last edited:
mikea said:
I need to look for a new card that has a good rewards deal. I do put a lot through my main one and don't get any rebate or rewards. Which is a good one?
Click to expand...

Mike, what do you want to use the rewards for? I've got an AmEx card that gets me points on one airline, and a second that gets me points that can go to a variety of airlines (and gets me lounge access on three airlines). Great if you do a lot of airline travel. If you want to use the points for something else, they're not as good... Same deal with hotels... cards that are affinity to the hotels often give you lots of bennies with that chain.

For general purpose? I've got a USAA cash-rewards card.

It seems like everybody has an affinity card these days. Heck, GM had one that gave you cash toward a new vehicle. There are ones that give you free gas. Pick the one that will give you best benefits on something you use regularly.
 
wsuffa said:
Mike, what do you want to use the rewards for? I've got an AmEx card that gets me points on one airline, and a second that gets me points that can go to a variety of airlines (and gets me lounge access on three airlines). Great if you do a lot of airline travel. If you want to use the points for something else, they're not as good... Same deal with hotels... cards that are affinity to the hotels often give you lots of bennies with that chain.

For general purpose? I've got a USAA cash-rewards card.

It seems like everybody has an affinity card these days. Heck, GM had one that gave you cash toward a new vehicle. There are ones that give you free gas. Pick the one that will give you best benefits on something you use regularly.
Click to expand...
Yeah. I don't need air miles. I refuse to fly on airlines unless I have no other choice.

I will get a gas card, too.

It just bugged me because I figured out I had passed a lotta bux through the card and didn't even get a thank you.

Hey there's a TiVo card which gets you points for....stuff.

I'm not going to do nuttin' until I have the new mortgage in hand. ;)
 
I have the Discover gas card. Every year, I average about $350 in cash back that I turn into certificates for Land's End (usable at Sears), Staples, etc. I go for those that make $20 worth $25 but there are many more as well as actual cash back on the card or in your hand. It's a worthwhile deal.
 
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