Reply
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Bank of America $23,500 CLD

I'm worn out from trying to find things to run through my cards. :smileytongue: There's only so much stuff that one person needs to buy.

Luckily, the CU/ USAA cards don't seem to need this endless grooming, so that's a break, anyway.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
psychic
Posts: 1,518
Registered: ‎04-20-2007
0

Re: Bank of America $23,500 CLD


MattH wrote:

psychic wrote:

cobaltnv wrote:

I logged into my BoA account today and saw that I got the dreaded CLD (first time ever). My limit went from $24500 to $12500. I can see why they did this. I do not use this card for much anymore (it used to be my main card a few years ago).


In 2007, I charged a total of $87.53 on my BoA card.  My 2008 annual spending total was $79.65.  So far this year, I've charged a whopping $10.00 on that card.

 

Like you, I relied on this card heavily several years ago.  However, my spending habits changed, and along with that, so did my credit card preferences. 


 

I run substantial amounts of transaction activity through all my cards, then pay in full at the end of the month, a pattern which I hope will encourage them not to cut my limits.

 


 

 

My problem is that I make a lot of charges on my 2 Chase Freedom cards.  Chase's rewards program is so much better than Bank of America's WorldPoints. 

 

If I didn't have rewards cards, I'd probably do as you do and run substantial amounts of charges through all of my accounts. 

EQ 814 / TU 815 / EX 842
Established Contributor
cobaltnv
Posts: 640
Registered: ‎09-02-2008
0

Re: Bank of America $23,500 CLD

Sorry to bring this post back up to the top, but I figured this was as good a place as any to update things. I logged into my AMEX account this morning and saw they have followed suit from BofA as they lowered my CLI from $15k to $13k. Seems like the feds with the results of these "stress tests" are pushing the banks to lower their credit risk.
Cheers 

cobaltnv wrote:

I logged into my BoA account today and saw that I got the dreaded CLD (first time ever). My limit went from $24500 to $12500. I can see why they did this. I do not use this card for much anymore (it used to be my main card a few years ago). I have a netflix charge on it to keep the card active. I did just refinance my house. I wonder if the new mortgage has anything to do with the CLD?? 

 

 A couple of years ago (before i met my FICO friends) I would have called them to cancel the card just out of spite. Now I know better, this is my oldest card by a few years (got it in 1993 when I was 19). So, to the sock drawer with a $15/month netflix charge to keep active. Has anyone had BoA close their account in these situations?  

 

 Based psychic's cld and many others on here with 800+ FICO scores it definitely seems like nobody is safe. 

 

  Oh well, now I will just wait to see if AMEX follows suit. 

Cheers 


 

TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

Helpful Threads
Frequently Requested Threads
Understanding your Fico Score
Senior Contributor
MattH
Posts: 3,240
Registered: ‎04-03-2008

Re: Bank of America $23,500 CLD


cobaltnv wrote:
Sorry to bring this post back up to the top, but I figured this was as good a place as any to update things. I logged into my AMEX account this morning and saw they have followed suit from BofA as they lowered my CLI from $15k to $13k. Seems like the feds with the results of these "stress tests" are pushing the banks to lower their credit risk.

Well, if any of them lowers my limit because of these "stress tests" I'm gonna stress them right back by sockdrawering that card and feeding it just a few transactions each month, right now they need customers like me a heck of a lot more than I need any of them.  Whenever the economy does turn around, lots of people are gonna remember how they are being treated today.  Many companies today seem to have forgotten a fundamental axiom: in a democracy, making yourself despised by lots of people is not a long-term survival strategy.

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
New Contributor
techman2008
Posts: 71
Registered: ‎10-25-2008
0

Re: Bank of America $23,500 CLD

MattH,

 

 

I totally agree.  In fact boa did the same thing to me with a cld without a good reason other than saying they gave out too high of a credit when I never ask them for a cli and they're the one that gave me the credit increase.  Switch all my checking and saving from boa and eventually will close them for the way they treated me who has been their customer for over 16years.  Screw me once and i'll never forget.  If  I received a letter saying they need to do this, then that would be fine.  But doing it first and then a month later sending a bs letters. 


Starting Score: TU 797 EQ 798 EX 774 10/26/2008
Current Score: TU 787 EQ 784 EX ??? 09/19/2010
Goal Score: 790


Take the FICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}