Possibility/Impact of switching from one BoA card to another

Discussion in 'Other Credit Card Programs' started by DAS02135, Feb 9, 2011.

  1. DAS02135
    Original Member

    DAS02135 Gold Member

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    Do you know it is possible to convert one Bank of America/FIA credit card to another without losing the credit score benefits of having a card with a history?

    I've got a Bank Americard which essentially gives me 1.5% cash back that was opened in 2008 and is my credit card with the second longest history. If I could change it into the Fidelity Investment Rewards Amex and somehow still have it look like I've had that line of credit since 2008, I'd switch. Both cards are issued by the credit card company that is now BofA/FIA/MBNA, so I'm hoping it can be done somehow.

    I have heard Amex allows you to convert cards without having it look like you closed one account and applied for new credit on the cards they issue (e.g., switching from HHonors Amex to the Surpass Amex), so there may be precedent in the industry.
    jbcarioca likes this.
  2. techboyds
    Original Member

    techboyds Silver Member

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    If they'll let you change, then you can usually keep the account number and credit history. I've done this with several different issuers.

    When I called to ask about switiching one of my FIA cards to the (then) new Fidelity card, though, they wouldn't let me and said I'd have to apply for it as a new account. That was several years ago.

    Can't hurt to call and ask though... I'm thinking about trying again myself, for the possibility of earning 2 Aeroplan per dollar.
  3. jbcarioca
    Original Member

    jbcarioca Gold Member

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    Bank of America now has the capacity to link accounts and does so as a matter of normal business. You have several options with them.
    One is to split your existing credit line between multiple cards. If you have larger lines than you need that is good.
    Another is to open a new account with additional credit. They (this is Bank of America specific, not all do this) will evaluate all their credit lines to you in a single analysis.
    A third is to apply for an entirely new unrelated Bank of America card. Until a couple years ago that was the norm. I would nto do that today because they are linking accounts.

    Your credit rating will not suffer from the first two options if they show the accounts as linked, but usually they are reported separately. In any event many of the algoritms now used by leading issuers do evaluate additional activity form an existing lender more favorably than they do absolutely new credit. That distinction is not made on any generic score since as the FICO that consumers see, but it is used in several of the more advanced proprietary scores.

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