02-20-2009 09:18 AM
CanDoAttitude wrote: :
So the next time you call BofA's backdoor number, ask them how
they can brag about extending credit to customers in a major newspaper
while actively chasing down your limits at the same time. Then listen to them
stutter and stammer while they attempt to give you a canned BS excuse.
While the argument might work in a court of law, bank CSR's are not logical nor are they free thinking. They will give the statement they are reading from the script, and deny deny deny, or risk losing their jobs. Citi did the same thing a few weeks ago, took out full page adds, and even told congress last week it was freeing up 36.5 Billion with a "B" to lend to "consumers" taking this as a good sign many of us on this site applied at Citi, and out of the six I know of, only 1 rec'd a CC and they only got a tiny limit. The other five of us got the decline and on recons we got the script.
Honor among thieves.
02-20-2009 09:32 AM
Good point, Pappy.
However, this is precisely why I suggested that fretless
call BofA's backdoor number in order to circumvent the
non-free thinking CSR's. At least fretless would contact
someone in a position of decision-making authority, but
sadly I anticipate that the results would be the same.
But like you say, honor among thieves...
"The right attitude is everything"
02-20-2009 10:52 AM
02-20-2009 11:55 AM
02-20-2009 12:35 PM
Wow, looks like Bank of America is the next to step up to the CLD plate. I'm so sorry to read this, Fretless!
Thanks Hauling. I'm fearful of Chase following suit. I actually like that card (as opposed to the lame WorldPoints), so I'm hopeful they don't touch my $25,000 CL. It's my highest.
I'm thinking I should BT whatever I don't pay off with my tax return to my NFCU plain jane card. 11.9 APR, $18,000 CL.
02-20-2009 12:50 PM
02-20-2009 12:55 PM
They did the same thing to me but my balance was zero so I told them to close the account asap and they asked me may I ask why your closing your visa and checking account and I was like you took all that bailout money and then partied at the superbowl and you cut my limit for no reason that is the worst bank. I don't care if it hurts me to close them I'm not doing business with banks like that. I have NFCU and USAA , JFCU I've closed all the rest I've decided I would rather see them bankrupt than worry about a hit on my report If all these problems keep up the banks will have to change the way your score is scored neways !!!
02-20-2009 02:12 PM
We should try to centralize information on this in one thread so we can try to pull out what factors are being used.
I mean, I seem seem superficially similar on my American Bar Ass'n BoA card (similar credit score at 680, slightly higher credit limit at 7200) and haven't been CLD'd yet -- though you did have a higher total credit limit both generally and with BoA than I do (generally I'm at just over 20,000 across all cards, with BoA I only have the one card).
Is it location? (I'm in Ohio.) Income? (I think they see my income as 115,000). Recent usage? (My card has carried a high balance since August, and has often carried a high balance for a few months before I PIF, but I've started slowly cutting it down).
As for why its happening - BoA probably has a negative net worth right now, even with that 40 billion dollar capital injection. Its stock value basically consists of the hope that any bailout will be a giveaway rather than nationalization. They've got the Merrill Lynch investigation and lawsuits. With people being laid off left and right, there is a large population of people who may look creditworthy, but are ticking time bombs because they may have to charge abnormally large amounts of living expenses.
Given their fragile position, they're probably very wary of people with the capacity to charge large amounts - particularly those with lower incomes.
02-20-2009 03:22 PM
02-20-2009 03:41 PM
Fretlessmayhem - What kind of MC did you have with BOA? Do you live in one of the targeted, hard-hit foreclosure states? Is your occupation in a high risk category given the current economic climate?
Sorry to bombard you with questions; I guess like others I am trying to understand BOA's criteria for reacting in such a manner. I am a long time BOA customer and although I have not yet been CLD'd, I do not have a comfort level using the card until this calms down.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.