Bank of America $23,500 CLD

[Anonymous]

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@cobra19 wrote:

Ouch......   how old is this account?

I am half-expecting Chase to cut my 49k cc line. Actually, I am kinda surprised it hasn't happened yet. The most I run through it is 5k a month.

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Hi cobra19!

This account was opened in May, 1987.

[laz98]

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@Anonymous wrote:

I was expecting this to happen:  I logged into my BoA Visa account information this morning, and saw my credit line was cut in half, from $47,000 to $23,500.  I'm not going to bother calling BoA about this. 

I really can't complain, given that $23,500 is still a respectable credit limit.  This CLD shouldn't affect my FICO scores, either. 

I know I'm not alone!

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so we aren't the only ones.  my gf's card got cut from 9k to 7300.

[Anonymous]

Thank you everyone for your wonderful support!  I truly appreciate it!

I'm handling this CLD exceptionally well.  I still have over $120,000 in total available credit, so this is not a major disaster for me.  Often times, I even thought to myself that I didn't really need such a high credit limit card. 

One positive thing about my BoA card is that it does report a credit limit--I'm in much better shape than an individual with a high credit line, no preset spending limit Signature or World card that only reports a Largest past balance of a few thousand dollars as the credit limit!

[Anonymous]

txjohn wrote:  For those of you in the BK, it's important to immediately garner new credit so that you don't have "wholes" in your CR.  We celebrate when the baddies come off, but the absence of any credit during time periods leaves evidence of what used to be....

I agree!  My BK was in 2000.  I didn't think I could have credit for 7 years, so I didn't even apply until April, 2008.  Major HOLE there... even though my scores are picking up, slowly, but surely.  I think "get right back up on the horse..." is good advice.

[YoungEntrepeneur]

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@Anonymous wrote:

txjohn wrote:  For those of you in the BK, it's important to immediately garner new credit so that you don't have "wholes" in your CR.  We celebrate when the baddies come off, but the absence of any credit during time periods leaves evidence of what used to be....

I agree!  My BK was in 2000.  I didn't think I could have credit for 7 years, so I didn't even apply until April, 2008.  Major HOLE there... even though my scores are picking up, slowly, but surely.  I think "get right back up on the horse..." is good advice.

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Good luck on your credit building!

[Anonymous]

Got anyone who could help you out initially with AU account to cover those barren years?

[WhirledPeasPlease]

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psychic wrote:

I was expecting this to happen:  I logged into my BoA Visa account information this morning, and saw my credit line was cut in half, from $47,000 to $23,500.  I'm not going to bother calling BoA about this. 

I really can't complain, given that $23,500 is still a respectable credit limit.  This CLD shouldn't affect my FICO scores, either. 

I know I'm not alone!

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Eh, they sliced my mom's acct from 25k to 12.5k -- it only hurts b/c I'm an AU on that card and I just lost a heck of a lot of avail credit, lol.

[Anonymous]

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@WhirledPeasPlease wrote:

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@Anonymous wrote:

I was expecting this to happen:  I logged into my BoA Visa account information this morning, and saw my credit line was cut in half, from $47,000 to $23,500.  I'm not going to bother calling BoA about this. 

I really can't complain, given that $23,500 is still a respectable credit limit.  This CLD shouldn't affect my FICO scores, either. 

I know I'm not alone!

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Eh, they sliced my mom's acct from 25k to 12.5k -- it only hurts b/c I'm an AU on that card and I just lost a heck of a lot of avail credit, lol.

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That's depressing, Peas.  Is your mom upset over her CLD?  I know I didn't throw a tantrum with BoA, because I couldn't honestly tell them I needed that $47,000 credit line.   In fact, my new $23,500 credit limit is probably much more than I'll ever need!

From what I've been reading on other posts, I should now prepare myself for an APR increase!

[llecs]

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psychic wrote:

From what I've been reading on other posts, I should now prepare myself for an APR increase!

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DW just got a rate increase notice via mail today from 14.xx% to 24.xx%. Can't remember anything beyond the decimal, but it came as no surprise after reading everything in here. Her Amex-branded card came in May at 0% for three months I believe and then her rate changed to fourteen some odd percent. Now we got the letter today. She was never late and at least there wasn't a CLD.

ETA...of our 24 cards in total, this is our second AA. First one came from Junny in the form of an APR increase.

Message Edited by llecs on 04-06-2009 07:35 PM

[WhirledPeasPlease]

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psychic wrote:

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@WhirledPeasPlease wrote:

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@Anonymous wrote:

I was expecting this to happen:  I logged into my BoA Visa account information this morning, and saw my credit line was cut in half, from $47,000 to $23,500.  I'm not going to bother calling BoA about this. 

I really can't complain, given that $23,500 is still a respectable credit limit.  This CLD shouldn't affect my FICO scores, either. 

I know I'm not alone!

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Eh, they sliced my mom's acct from 25k to 12.5k -- it only hurts b/c I'm an AU on that card and I just lost a heck of a lot of avail credit, lol.

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That's depressing, Peas.  Is your mom upset over her CLD?  I know I didn't throw a tantrum with BoA, because I couldn't honestly tell them I needed that $47,000 credit line.   In fact, my new $23,500 credit limit is probably much more than I'll ever need!

From what I've been reading on other posts, I should now prepare myself for an APR increase!

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I'm not sure she knows.  I talked to her earlier, but that was before I saw the CLD.  I'm sure she's not upset since she's only used 6k of the avail credit on that card.  She has 800 FICOS, is retired and is pretty golden.  She'd have no reason to ever use 25k (unless she were to let me do a low fee BT to get my cards under control, lol).  It might me time for her to add me to another old, high limit card.

I had an APR increase on my BofA, I hope yours isn't too bad.  Eh, we move on..  and on and on and on...