Bank Of America and Carrying balances?

[Closingracer99]

I am curious is there any risk in carrying about $400 balance on a $2,500 CL with my BoA card? are they sensitve like Amex?

[Anonymous]

You're fine.

I don't know if this forum has people brainwashed, but banks aren't expecting you to pay your credit cards in full every month.

[capitalkid]

DH Initial credit line on his BOA 1,2,3 Cash rewards card was 2500.00 July 2012.   To get some history with them to move forward, we bought our 5th wheel hitch on this card, which was about 700$ and I made two payments on that.  Then we used it heavy for Xmas/Holidays/Birthdays 2012/2013 Paying off about half the balance and carrying the other half.  carried on it for about 5-6 months and then PIF.  Then when came time for CLI they doubled his limit and it cost 1HP July 2013.  About 4 months after his CLI, they sent him preappoval for their travel rewards card, he apped for it and got 6500$ starting line and Visa Siggy Version.  Then this last May He requested to reallocate his Cash Rewards Card and his Travel Rewards card for a total CL of 11K, and 1 HP and 2 weeks later he was approved for reallocation.

 Id Say you are good to go.  They like use, just dont go maxxing out every line to the limit, and they should be fine.  Also, make sure you dont put all your eggs in one basket either.  Make yourself a portfolio of different lenders, and work on making sure most of those lines can accommodate your spending should one go down for any reason.  Also, I have read that when carrying if you are worried about Adverse Action, make 10% of the balance be your payment amount.   Ex if your balance is 1000,  pay no less than 100$ payment.  

BOA does have some bad press for suddenly shutting down folks lines, but if you are aware this can happen and have a back up plan for your portfolio it wont even effect you should something happen to your line.  We have options in place for this should something happen to that line, in the meantime we are making 1.5 cents per dollar spent and have a nice size line for any purpose.  Should we have a balance on the card and they took AA on us we have several BT cards we have worked on to get high limits enough so to be able to BT without effecting Util that in that instance we would politely transfer the amount we had on BOA and then be done.  

Long as you know it can happen you can prepare for it accordingly, and if it never does great, and if it does you have your ducks in a row and are ready to handle it.  

Good Luck

[sexy_kitten7]

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@Anonymous wrote:

You're fine.

I don't know if this forum has people brainwashed, but banks aren't expecting you to pay your credit cards in full every month.

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+1. I've been revolving 9k on a 10k BoA CL all summer at 0%.

[j_casteel]

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@Closingracer99 wrote:

I am curious is there any risk in carrying about $400 balance on a $2,500 CL with my BoA card? are they sensitve like Amex?

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IME BoA is completely cool with carrying balances. Hell, they send out 0% BT offers all the time. Right now I have ~$2900 on my card, and I just been paying around $200 per month.

I think the issues that banks have (AMEX & BoA) are running up, and making nothing but minimum payments for a long time. That's when some have issues with being balance chased.

$400 on $2500 is nothing and BoA won't care at all. I've gotten 2 big CLI's while carrying several thousand on my BoA.

[CreditMagic7]

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@sexy_kitten7 wrote:

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@Anonymous wrote:

You're fine.

I don't know if this forum has people brainwashed, but banks aren't expecting you to pay your credit cards in full every month.

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+1. I've been revolving 9k on a 10k BoA CL all summer at 0%.

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+2

I revolve all the time I took some advice for better or worse from an Underwriter who suggested if i wanted to roll a balance, to set a pattern/range from 30 to 90days and then the next time run some PIF and so far it's been picture perfect and peachy on this end. It was said some lenders UW's actually like to see these patterns. I regularly go from transactor to it's counterpart revolver in rotation with all my cards. Everyone has to find their own credit "sweet spot" that affords them the best returns. So far that UW opinion is worked for me and i'm only barely 2 years into all this.

[Bman70]

My BofA Visa's initial credit line was $2500. I immediately charged a seminar to it for $1000 (I had actually opened the card for this purpose). I paid the minimum for about 4 months, then paid off the card. Shortly after, I ran it up to $1000 again, then to about $2000. At some point I hit the luv button, was told to call but didn't, and got increased to $3500. The next few years, the balance hung around $2500, paying $5-$10 over the minimum, often just the minimum. Now it's at zero but they're always sending me offers and preapprovals for new cards. And tons of BT checks. Seems like a really user friendly company. 

[navajomyst2003]

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@Closingracer99 wrote:

I am curious is there any risk in carrying about $400 balance on a $2,500 CL with my BoA card? are they sensitve like Amex?

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I am carrying $11,000 at 0% on a total CL of $51,000 across 3 cards. Paying down  at about $1,000 per month. No problems and they are still sending me BT offers every month.

[sexy_kitten7]

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@navajomyst2003 wrote:

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@Closingracer99 wrote:

I am curious is there any risk in carrying about $400 balance on a $2,500 CL with my BoA card? are they sensitve like Amex?

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I am carrying $11,000 at 0% on a total CL of $51,000 across 3 cards. Paying down  at about $1,000 per month. No problems and they are still sending me BT offers every month.

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@navajomyst2003 wrote:

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@Closingracer99 wrote:

I am curious is there any risk in carrying about $400 balance on a $2,500 CL with my BoA card? are they sensitve like Amex?

---

I am carrying $11,000 at 0% on a total CL of $51,000 across 3 cards. Paying down  at about $1,000 per month. No problems and they are still sending me BT offers every month.

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This reminds me, I got a BT offer on the maxed out card last week.

It speaks volumes about the IT capabilities of major banks!

[Nw2Fico]

agree with most posters. Misinformation about BOFA and some anectodal data suggest they have done CLD in the past, but as one poster said its usually those making only the minimum for a period of time. 4 years ago I revolved on a 0apr BofA 1-2-3 5k of a 5,500 limit. Paid in 9 months. CLI to 10k BofA I believe is less punitive when it comes to CLD for revolving balances compared to CHASE. Citi being the worse. YMMV But your fine Just pay over the minimum and dont extend beyond the offer.  Treat them good BofA can be very generous.