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BoA cancelled my Visa due to inactivity of less than 1 year?

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Ron1
Super Contributor

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

I use it for something small (like buying a soda) to keep it open.  IMO, BofA is one of the worst bank. It is not worth to keep it. They can close or CLD or downgrade your card.

 

 

Ron.

Message 11 of 21
CK_Charles_Lover
Regular Contributor

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

I would call credit analyst and tell them that you use it a Christmas a lot or something along those lines, and you were planning on using it again heavily this holiday season, just see if they will reconsider. If not replace them with a shiny new card. 

Trans Union Fico (Walmart) ,690 Experian Fico (Amex) 686(Opened 3 new accounts this month. In the Garden)


AMEX BCE ($19,500) AMEX PRG -(NPSL), BARCLAYS US AIR PREMIER WORLD ($10,000), BOA CASH REWARD -($6,000), CITI HILTON RESERVE SIGGY-(5,000), WALMART DISCOVER ( $5,800), CITI DIAMOND ($4,700), CITI DIVIDED WORLD ($4,500), AMAZON STORE($5,000), NORDSTROM VISA SIG($5,000), PAYPAL STORE ($4,000) Amex Delta Gold ($2000)
Message 12 of 21
Anonymous
Not applicable

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

We understand that blocking the account may seem like a bold action. However, this will ensure that your payments will not reach a point where you cannot make them, and help give you the opportunity to pay things down on your account - without fear of adding more to your balance. Once you have paid down the balance, please contact us back so we can re-evaluate the decision to close the account. We would definitely like to hear back from you to see if we can reactivate your account in the future.

 

I have had a zero balance on this card for a very long time. 

I called customer service right now.  They are saying something completely different.  My account was closed due to serious delinquencies found in my credit report not related to this account.  My CR is clean. 

 

What is wrong with BoA?

Message 13 of 21
Revelate
Moderator Emeritus

Re: BoA cancelled my Visa due to inactivity of less than 1 year?


@Anonymous wrote:

We understand that blocking the account may seem like a bold action. However, this will ensure that your payments will not reach a point where you cannot make them, and help give you the opportunity to pay things down on your account - without fear of adding more to your balance. Once you have paid down the balance, please contact us back so we can re-evaluate the decision to close the account. We would definitely like to hear back from you to see if we can reactivate your account in the future.

 

I have had a zero balance on this card for a very long time. 

I called customer service right now.  They are saying something completely different.  My account was closed due to serious delinquencies found in my credit report not related to this account.  My CR is clean. 

 

What is wrong with BoA?


Ask them what report they pulled, then go burn your annualcreditreport.com one for tha tbureau and compare with them on the phone.

 

I don't think there's anything "wrong" with them besides a possible mix-up.  Sometimes there are errors in the machine, butFWIW most lenders would close an account with six months inactivity on it.  If you're not using the card, the only possible rationale is for FICO purposes, and banks don't agree with that rationale.

 




        
Message 14 of 21
Anonymous
Not applicable

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

I just ordered reports from all 3 bureaus and 0 issues.  Excellent credit all-around.

 

Keep in mind, the rep online stated I had a serious negative balance on my card which is the reason for the card being closed.  The rep on the phone stated I had credit issues not related to BoA and that's the reason the card was closed.

 

Wow.

Message 15 of 21
surfnspy
Contributor

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

Say what?!

EX: 750 (05/2015) | EQ: 765 (5/2015) | TU: 765 (5/2015)

Barclays World MasterCard CL: $19K
Capital One MasterCard CL: $3.9K (sock drawer)
CHASE Sapphire Preferred Visa Sig CL: $20K
JPM Ritz Carlton Visa Sig CL: $20K
Inquiries: 1 (EX) 0 (TU) 0 (EQ)
Message 16 of 21
A_Madel
Contributor

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

Oh my. That's very disturbing. They are also my oldest trade. I guess I'll have to use them against my will. I can only hope they don't pull that with me. Nothing with them is safe apparently ..... So, they just "made up" a reason? And there's no recourse? Digusted.

Current: EQ 791 / TU 788 / EX 752 FICO's (MyFico, Oct 2012)

*** NFCU Plat | USAA CR Amex | PenFed TR Amex | BOA Gold | JP Morgan Select | Amex BCP | Amex PRG | USAA Plat ***
Message 17 of 21
CS800
Super Contributor

Re: BoA cancelled my Visa due to inactivity of less than 1 year?

Go to starbucks and buy a a coffee on it.

 

This way you can make the min payment twice so it will show payments for two months Smiley Wink




Message 18 of 21
CS800
Super Contributor

Re: BoA cancelled my Visa due to inactivity of less than 1 year?


@A_Madel wrote:

Oh my. That's very disturbing. They are also my oldest trade. I guess I'll have to use them against my will. I can only hope they don't pull that with me. Nothing with them is safe apparently ..... So, they just "made up" a reason? And there's no recourse? Digusted.


As harsh as it seems, banks do have some $$ too so any credit extended that's not making them some kind of $$ doesnt look good.

 




Message 19 of 21
Revelate
Moderator Emeritus

Re: BoA cancelled my Visa due to inactivity of less than 1 year?


@CS800 wrote:

@A_Madel wrote:

Oh my. That's very disturbing. They are also my oldest trade. I guess I'll have to use them against my will. I can only hope they don't pull that with me. Nothing with them is safe apparently ..... So, they just "made up" a reason? And there's no recourse? Digusted.


As harsh as it seems, banks do have some $$ too so any credit extended that's not making them some kind of $$ doesnt look good.

 


It's worse than that. 

 

Their credit extended has to be countered by their financial reserve: so in this case, they're tying up money on a customer who isn't making them any money, instead of going out and getting a different one who will.  Also they can't invest it in pretty much anything more profitable, so it's pretty much lost income all the way around for the bank.  Bad mojo, and worse math: any lender will close the card or otherwise CLD it and go utilize that resource somewhere else.

 




        
Message 20 of 21
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