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New Member
Posts: 4
Registered: ‎10-12-2007
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Bank of America Gold Option Loan Account credit line decreased

I just received a letter from B of A this morning. They have reduced my line of credit from $32,00 to $29,00. They state in the letter "this decision was based partly on information provided by the consumer reporting agency named below."  Good old Trans Union.

Hmm, could it have something to do with me taking advantage of an offer of Chase for a balance transfer before they become obsolete?

I used to be 768 on Trans Union a few moons ago. They are all in cahoots to justify their high interest rates. No more Bank of America for me, I'm taking out my savings and other things and will switch to Chase until they pull a stunt like this. Never missed any payments in my life, it's a joke!

Smiley Mad

 

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Bank of America Gold Option Loan Account credit line decreased


Sully1229 wrote:

I just received a letter from B of A this morning. They have reduced my line of credit from $32,00 to $29,00. They state in the letter "this decision was based partly on information provided by the consumer reporting agency named below."  Good old Trans Union.

Hmm, could it have something to do with me taking advantage of an offer of Chase for a balance transfer before they become obsolete?

I used to be 768 on Trans Union a few moons ago. They are all in cahoots to justify their high interest rates. No more Bank of America for me, I'm taking out my savings and other things and will switch to Chase until they pull a stunt like this. Never missed any payments in my life, it's a joke!

Smiley Mad

 


 

All that for this? That's just plain silly. And moving to Chase? ROTFL. Think twice before acting. You might avoid a serious mistake. If you feel compelled to move try a nice CU. Were I you I would maintain the status quo. You got a love tap. Best to let it pass.

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: Bank of America Gold Option Loan Account credit line decreased


Sully1229 wrote:

I just received a letter from B of A this morning. They have reduced my line of credit from $32,00 to $29,00. They state in the letter "this decision was based partly on information provided by the consumer reporting agency named below."  Good old Trans Union.

Hmm, could it have something to do with me taking advantage of an offer of Chase for a balance transfer before they become obsolete?

I used to be 768 on Trans Union a few moons ago. They are all in cahoots to justify their high interest rates. No more Bank of America for me, I'm taking out my savings and other things and will switch to Chase until they pull a stunt like this. Never missed any payments in my life, it's a joke!

Smiley Mad

 


They reduced it by $3,000? Heck within the past year BOA reduced my LOC from $26,500 to 0. So things could be worse right?

 

7/09
TU-742
EQ-779

 

Time can heal all wounds and a low FICO. 

Moderator Emeritus
Posts: 16,381
Registered: ‎03-12-2007
0

Re: Bank of America Gold Option Loan Account credit line decreased

I also have a BoA Gold LOC. I'm going to check and see if they butchered my limit.Smiley Indifferent
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
New Member
Posts: 4
Registered: ‎10-12-2007
0

Re: Bank of America Gold Option Loan Account credit line decreased

A love tap -- that's a cute way of looking at it. But the point was that I have CD's and savings in this bank if they are doing it to me, they will pick on other's as well. And once creditors see this they all chime in, let's face it our fico score is only great as long as we don't touch our credit lines, it's all smoke and mirrors!  A FICO MIRAGE!

 

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Bank of America Gold Option Loan Account credit line decreased

[ Edited ]

It is hard to expect perfection from issuers these days. If you do you are bound to be disappointed.

 

Did it occur to you that if you had not had the CD's and other deposits in the bank they would have totally closed this account down? These are hard times. Best not to up end the cart over a trifle. And this is a trifle.

Message Edited by creditwherecreditisdue on 07-18-2009 03:00 PM

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