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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Bank of America $23,500 CLD

Congrats, Hauling! You should now demand another CLI just for your troubles. :smileywink: jk

 

I can second the mid-cycle updates. My CLI reported a week before the statement cut.

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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Bank of America $23,500 CLD

I have found that BofA does a mid-cycle update in these instances:

- CLI :smileyhappy:
- CLD :smileysad:
- adding on to the card as an AU

They did NOT update when I came off as an AU; this had to wait for the next normal update time (the statement drop date)
* 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
New Contributor
techman2008
Posts: 71
Registered: ‎10-25-2008

Re: Bank of America $23,500 CLD

I recently just logged into my boa visa account and there it was lol.  My CLD by 50 percent from 11,000 to 5500.

I see the OP has a score in the 800's so it's happening to everyone.  I know it doesn't matter much if all your credit cards are all zero's balance, but unlike before if something big would happen, I wouldn't have enough cash to cover as in the past.   Though it's still disrespectful for beinga loyal customer for 16+ years and a great track record. 

 

 


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


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cobaltnv
Posts: 640
Registered: ‎09-02-2008

Re: Bank of America $23,500 CLD

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)

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Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008

Re: Bank of America $23,500 CLD

Seems to really be a straight 50% for most customers. 
Established Contributor
cobaltnv
Posts: 640
Registered: ‎09-02-2008

Re: Bank of America $23,500 CLD

So I just looked more closely at my BoA account information. Not only did they cut my credit limit in half, but they added the "request credit limit increase button". I have not had that button show up in months.

  This is too funny.

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

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psychic
Posts: 1,518
Registered: ‎04-20-2007

Re: Bank of America $23,500 CLD


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. 

EQ 814 / TU 815 / EX 842
Member
B4mylife
Posts: 13
Registered: ‎05-23-2007

Re: Bank of America $23,500 CLD

Mine decreased from 15K to 7.5K overnight.  I've had this account for over 10 years, have a fico score of 747, and never paid late.  Didn't bother me, however, since I had requested an increase several years ago to help my score for a home purchase. Funny thing is that the credit increase button also reappeared on the same day also! 

 

I did call recently about a couple of questions regarding an upgrade offer that they mailed me.  Mentioned the CLD and the person on the phone explained that the new available balance was determined by my spending patterns, of which I once had a balance of $6,900.  At any rate, I decided to request an interest rate reduction, and they gave me a 13% decrease from 26.99% to 13.99%!!!!  I was shocked, but happy.

Senior Contributor
MattH
Posts: 3,245
Registered: ‎04-03-2008

Re: Bank of America $23,500 CLD


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!

 

 

 

 


Yikes, that's the biggest CLD number that I have ever seen!  As you say, $23K still is a respectable limit, the biggest limit on any of my cards is about $25K.  But still the fact that companies are taking adverse actions against people like you and me (I've not had any CLD yet but I have had an APR increase) demonstrates that in the current market everybody may be a target.

 

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
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Senior Contributor
MattH
Posts: 3,245
Registered: ‎04-03-2008

Re: Bank of America $23,500 CLD


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.

 

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

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