Credit Cards

[laz98]

in addition to the CLD i previously posted about, we are also being ratejacked, from a fixed 7.9% to a variable 16.9%.

[haulingthescoreup]

Well, they finally got me. $18K dropped to $9K. Wasn't there yesterday, but it's there today.

Almost a relief for it to happen! --now I don't feel like I have to check daily.

Highest balance ever on the card was $8,240, when I opened it with a BT, which I paid off in less than 9 months. So I think that there's a lot of truth in the guess that the highest ever balance might set the new one. Or just that they sliced it neatly in half, lol.

It won't have any impact on util, so no biggie. And they seem to have changed the ongoing BT offer from 3.9%, expiring now, to 9 months at 1.9%, so I guess they're trying to sweeten things a bit.

And in fact, that's how I got the CL up to $18K, was by telling them the BT was hurting my util, so who knows, maybe I'll try it again!

[psychic]

I'm so sorry to see that happen, hauling! 

[haulingthescoreup]

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psychic wrote:

I'm so sorry to see that happen, hauling! 

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Eh, thanks, but like you, I'm pretty well insulated. (Just checked USAA and PenFed, lol.)

I feel bad for those who don't have a lot of alternatives, or who are still trying to pay down balances and get hurt by the lost CL.

I did just check my e-mail, though, and not a peep. Now, this kind of thing does tick me off. Banks have our e-mail addresses, and they should be required to send an e-mail to those who have them at the same moment that they do a CLD, and a letter should be postmarked within 24 hours.

There's really no excuse for failure to promptly notify.

Good old USAA --when they raised APR's across the board, they gave a two-month's heads-up!

[psychic]

I just received a letter yesterday regarding my CLD:

Message Edited by psychic on 04-17-2009 09:19 AM

[haulingthescoreup]

Wow, they took their sweet time, didn't they?

So we get a free TU report out of this... (the most useless CRA for me!)


eta: huh, just pulled a back-door full TU report, and BofA softed me last month; first time ever that they pulled a TU. Interesting!

Heads up, BofA members, if you're able to check your full TU report, you might want to see if BofA pops up for the first time, and then prepare accordingly!

Message Edited by haulingthescoreup on 04-17-2009 06:28 AM

[llecs]

Sorry that happened, Hauling.

[psychic]

I like how Bank of America states that "we have adjusted the credit line on your card..."  I received a credit line adjustment.  I got CLA'd!

[snibarger]

I was "adjusted" today as well.  My $12k cut to $6k.  Never late.  Have occassionally carried balances, but was sitting at 0 for the last couple months.  I have exercised it routinely, have had it to 80-90% in past, but paid off or down within 2-4 months, then mostly PIF.

[txjohn]

Here's an article that reports on the CLD trend across the board:
http://www.smartmoney.com/spending/deals/Card-Issuers-will-not-Hesitate-to-Slash-Your-Credit-Line/

So far BoA hasn't CLD me yet....but this was a major reason I recently diversified to several CU's rather than relying on maintaining current CL's or getting CLI's from the bigs.

Message Edited by txjohn on 04-17-2009 11:48 AM