Yes, OP needs to make the decision, my main point is, the entire prior history of OP's handling of cards was not conducive to getting good terms. That changed after the last SP that BofA did, so BofA no longer has relevant information.
I hear what you are saying, and nearly every poster here who reports a CLD, goes into full on panic mode. I think that is a big mistake. As long as one is paying the card according to terms, the bank may run CLD, and other AA, and that is the bank's perogative. In those situations, the cardholder has done something to trigger the AA, and needs to think through all the options. In my case, the best option was to ignore the CLD, even though they were hitting all cards except CapOne, even though that meant Chase and Citi closed cards, and I closed a Citi card to freeze terms. I just continued to pay the cards down as best I could, maintain what favorable terms I could, cut back on expenses, and work through it for a few years.
OP was able to quickly pay the amounts down, but as far as BofA is concerned, they think OP still has 90% utilization and a 620 score, or whatever snapshot they last had. Indivudual experience varies, and can change over time.
Cheers!
They gave me a big cli, wonder if they reduce my limit if im not using for too long?
@bigbang91 wrote:They gave me a big cli, wonder if they reduce my limit if im not using for too long?
I think if you use the card somewhat, and your scores remain good, they would have no reason to do a CLD. They ran the CLD on me because of the risk they saw from the high balances, after the credit crisis hit. (all the banks were just throwing money out, fine with maxing out cards prior, then the water changed in 2008).
If you don't use the card at all, it becomes a possibility of a CLD, just because they start to lose track of your payment patterns, but even this statement is pure speculation on my part. They may do nothing at all. The bank has their own internal rules that we will never see.
If you like the card and want to keep it, then it's best to find some way to keep the card busy, it doesn't take much busy, and PIF.
I charge up to 100 per month with it, BoA travel reward, a cli of 18k
Welcome to MyFico forum
Did you carry a balance with minimum payment for a longer time before BofA did a CLD? If so this is probably the reason. Paying down utilization instantly gets your scores up but the history and performance on the account takes much longer for lenders to change their internal risk score. This could be the explanation and reason why with a 790 score you still are considered high risk for BofA. If you would like to keep the card then use it in a PIF mode for a while and try again to PC and ask for APR reduction. My scores are in the same range and I never carried a balance for longer than 2-3 months and have gone through numerous PCs with both of my BofA cards. Also APR reductions worked smoothly each time I asked.
If you decide you do not want the card anymore ..then close it and your AAoA is not going to be affected immediately. The card will stay on your report for about 10 years...enough to build AAoA with your other cards. Taking a HP right now might not get you the result desired if BofA considers the account high risk. I would put a Netflix or Hulu recurring charge on it, PIF and try in 6-12 months again. Of course only if you like to keep the account. And do not close it as long as you have a balance on it. This will "double kill" your utilization.
edit: ..forgot to Welcome you 
@lg8302ch wrote:Welcome to MyFico forum
Did you carry a balance with minimum payment for a longer time before BofA did a CLD? If so this is probably the reason. Paying down utilization instantly gets your scores up but the history and performance on the account takes much longer for lenders to change their internal risk score. This could be the explanation and reason why with a 790 score you still are considered high risk for BofA. If you would like to keep the card then use it in a PIF mode for a while and try again to PC and ask for APR reduction. My scores are in the same range and I never carried a balance for longer than 2-3 months and have gone through numerous PCs with both of my BofA cards. Also APR reductions worked smoothly each time I asked.
If you decide you do not want the card anymore ..then close it and your AAoA is not going to be affected immediately. The card will stay on your report for about 10 years...enough to build AAoA with your other cards. Taking a HP right now might not get you the result desired if BofA considers the account high risk. I would put a Netflix or Hulu recurring charge on it, PIF and try in 6-12 months again. Of course only if you like to keep the account. And do not close it as long as you have a balance on it. This will "double kill" your utilization.
edit: ..forgot to Welcome you
Not true. The closed accounts I am referring to, all had balances when closed. One with Citi, kept and still shows a $21k CL. The FICO calculations go through some allowances to consider the CL listed even on closed accounts, and seem to allocate the closed balances out of the main score. They still influence visible open balances, and your score, but they are identified as separate from regular cards and there is no double hit to utilization.
The reason for closing an account with a balance is if the CCC wants to change terms, to take away some perpetual or long term positive feature such as a low APR. Closing the account with a balance is a way to opt out of the proposed changes, to lock in those favorable terms. Financial considerations always trump concerns with FICO score.
