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So here's a good one for you...

New Contributor

So here's a good one for you...

A few weeks ago I hit the "luv button" on the B of A website and got the "we'll get back to you in 1 or 2 business days".  We'll a few days later i logged onto my account to find that my credit limit was increased from $8000 to $18,000.  Awesome, right???  We'll not exactly...
 
I had went on line to pay my MBNA account (which is now owned by B of A) only to discover that my once $35,000 line of credit was now $25,000.  B of A never asked me if i wanted to take some of the available balance from one account to increase the credit line of another.  Has anyone else had this happen?  Needless to say i was worried that it would screw me up because i owe $20K on my MBNA account which would now make my utilization for this account very high.  I guess in the end it really didn't matter since i received an alert yesterday that my FICO went up 11 points in one day.
 
I just thought you all might be interested in B of A's tacticts...
Filed BK7 – 2/13 (discharged 5/13) (starting score 586)
myFICO EQ 1/2014: 617
myFICO TU 1/2014: 619
myFICO EX 1/2014: 635
Credit 1 - $500 / Cap 1 Sec. $300 / Cap 1 Quicksilver $1,500
Barclays Apple Card / $1700 / American Gen Loan $5,000
Message 1 of 4
3 REPLIES
Valued Contributor

Re: So here's a good one for you...

That is certainly interesting.
 
It does underscore, however, that it is best to ask for a credit limit increase in the current climate when your balances are low relative to your credit lines.
 
I am glad it only impacted your score in a positive way though.
Message 2 of 4
Senior Contributor

Re: So here's a good one for you...

I've heard of this happening before.

Just for future reference, if the reallocation were to drop your FICO scores, you can always call a credit analyst via the back door number and ask them to undo the reallocation. At least that way, though you receive no CLI (you could try finessing the credit analyst on the same call), your FICO scores won't suffer.
Here we go again...
Message 3 of 4
Valued Contributor

Re: So here's a good one for you...



FretlessMayhem wrote:
I've heard of this happening before.

Just for future reference, if the reallocation were to drop your FICO scores, you can always call a credit analyst via the back door number and ask them to undo the reallocation. At least that way, though you receive no CLI (you could try finessing the credit analyst on the same call), your FICO scores won't suffer.

I had to do this, when they did the same thing to me in response to a CLI request, as in my case it would have affected my FICO score quite nastily (and presumably did, the day or so the switcheroo was on my reports - I was sweating bullets there for a bit, convinced AmEx or some other creditor would soft me and do something horrid).
 
After going through that, I probably will never risk their online 'luv button' again - CLI requests via telephone only from now on, to make sure they don't do the same blasted thing all over again. Smiley Mad
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
Message 4 of 4