paid 7000$ bofa visa signature and credit line goes down for seven ?

[mustangy]

can i sue this

better business or in court

that money is not mine its my business money and if i can not take back my car how to go back to work

boa is not getting its money they push you to bankcrupty straight away

(car 110k$ mercedes and has payment 2k month)

[coterotie]

Did they actually lower your limit or are they just holding the funds until they clear?  HSBC/Orchard would do this with me whenever I made more than the minimum payment.  It looked like the limit was lowered, but it was actually the available credit that was lower.  Used to really tick me off, as I would pay the balance in full several times per month and they wouldn't hold it.  Soon as I was headed out of town and would need the card for a hotel, they would hold the funds.

[B335is]

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@mustangy wrote:

can i sue this

better business or in court

that money is not mine its my business money and if i can not take back my car how to go back to work

boa is not getting its money they push you to bankcrupty straight away

(car 110k$ mercedes and has payment 2k month)

---

You're obviously not reading anything I've posted so far but no you will not win in a lawsuit against Bank of America for lowering your credit limit. Until you call the numver I posted and ask what is going on, they don't owe you a thing. Further, using a personal credit card for business expenses is a very bad idea and will bite you in the rear if you try to sue them. 

I'm not sure where this sense of entitlement to a credit limit is coming from, but if they feel you have become a risky consumer - for whatever reason - it is completely within their rights to yank a limit or card altogether. I won't comment on your post any more at this point, but hope you decide to listen to my advice. 

To the other poster about the large payment. Think about it, making only the minimum payment on a large balance, then all of a sudden making a huge payment and apparently OP is wanting to make a large charge again.  Its inconsistent, thats the problem. It would have been better for OP to make several $500 - $1000 payments rather than minimum payment.

[coterotie]

I think maybe you misunderstood, the inconsistency always seemed to be on their part.  I pay the card off in full each month or sometimes several times during the month.  Never place a hold.  Then when i was headed out of town, they would put a hold.  So 4 payments of balance in full no hold, then when I really was going to need the card they would hold the funds.  My comment was they seemed to be able to read my mind that when I needed to use the card it wouldn't be available.  I was able to get to a supervisor once who actually gave me a temporary CLI for the amount of the payment since she couldn't release the funds hold.  And the CL was only $400 so we're not talking giant amounts.

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@B335is wrote:

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To the other poster about the large payment. Think about it, making only the minimum payment on a large balance, then all of a sudden making a huge payment and apparently OP is wanting to make a large charge again.  Its inconsistent, thats the problem. It would have been better for OP to make several $500 - $1000 payments rather than minimum payment.

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[B335is]

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@Shock wrote:

Makes no sense. So one lump sum to give them their money back will scare them?

---

This is the comment I was responding to. Making only minimum payment on a large balance for 5 months, then nearly paying it all off at once, plus we have no idea what OP credit report looks like, obviously caused some concern from BoA on OP ability to fulfill his financial obligations to them. 

[mustangy]

i absolutely read all comments thanks

i know they do not owe me any

every thing is legal

but legal doesnt mean justice and fair always

why they setup this software to decrese credit line to time you deposit money

i m in best intensins thats why i paying my minumums and try to pay some thing huge and save interest

where are regulators for those

and again

this is put a customer to bankruptcy is that the way they ll get their money

??

no its not every day i sit at home cost me another 500$ of income loss

 http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066  tried those back door number credit analysts consider you as you apply for credit increase 

tehy do not even consider that they unfairly without notice deduct credit line

any other number like boa executive number please pm to me thanks

so know BBB or where to complain this

and i m sure more more people must complain about this

deduct my credit and send me a letter for warn me

do not be shark a waiting for taking advantages

know asking lawyer for bankruptcy

more people complain about this thing please

i m desparate know a loan i can close in 5 months total

this is must not be the purpose of banking they shuld make money on banking not sharking arround

any advise about BBB

 or what ever is appriciated

[Kenny]

If you calmly speak to the rep you should be able to get your CL restored. If they don't budge, then do a CLI online if it's that big of a deal to have the CL available. Or apply for another card. CSP or somthing with a potential for a large line.

[coterotie]

Back during the financial crisis, AMEX put the hammer on lots of folks.  People on vacations, suddenly completely cut off.  People on Business trips left stranded. Had several friends who were in Europe and kicked out of hotels with reservations cancelled when their CC were closed.  When you give anyone power over you this is what can happen.  Sorry this happened to you, but you need to be prepared for this kind of stuff by having a backup plan.  I try to  rotate so each month a different card is used.  That way each company sees a pattern and can apply whatever algorithm they use to determine risk.  Hopefully they see my pattern is I use you every few months for 10% of the CL and pay it off.

As for any avenues of redress as regards your issue I am afraid you're out of luck with anything external.  And the more you talk about BBB and threaten the less likely they will be to do anything for you as you appear desparate.  Remember the old adage about banks: "they only like to lend money to people who don't need it."

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@mustangy wrote:

i absolutely read all comments thanks

i know they do not owe me any

every thing is legal

but legal doesnt mean justice and fair always

why they setup this software to decrese credit line to time you deposit money

i m in best intensins thats why i paying my minumums and try to pay some thing huge and save interest

where are regulators for those

and again

this is put a customer to bankruptcy is that the way they ll get their money

??

no its not every day i sit at home cost me another 500$ of income loss

 http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066  tried those back door number credit analysts consider you as you apply for credit increase 

tehy do not even consider that they unfairly without notice deduct credit line

any other number like boa executive number please pm to me thanks

so know BBB or where to complain this

and i m sure more more people must complain about this

deduct my credit and send me a letter for warn me

do not be shark a waiting for taking advantages

know asking lawyer for bankruptcy

more people complain about this thing please

i m desparate know a loan i can close in 5 months total

this is must not be the purpose of banking they shuld make money on banking not sharking arround

any advise about BBB

 or what ever is appriciated

---

[TimeToRecover]

Well to add a few comments.

I am having a hard time following the original posters comments. 

1. if it is a visa signature as was stated he can go over the limit since it is a signature card

2. why would you take funds designated for business and apply them to a personal account.  That is the illegal act and could get you fired.

3. unfortunately any CC company can close any account at any time they want

4. it is tax refund season I am sure the CC companies actually do see higher payments then normal this time of year from people who choose to use their Tax refunds to pay down debt

my 4 cents worth

[mustangy]

thanks TimeTorecover,

1. if it is a visa signature as was stated he can go over the limit since it is a signature card

1--- yes its a signature visa and no they claim that is you can over limit but no you can not today its didnt gone thru for 160$ over new limit 9k

2. why would you take funds designated for business and apply them to a personal account.  That is the illegal act and could get you fired.

2--- i m self employed (only i m working owner) so its mean its same person you might right but did it because of 28% interest tried to save a least a month of interest

and actually its mean for bank i m trying to pay debt not chasing or goin for bankcrupty.

3. unfortunately any CC company can close any account at any time they want

3--- why paying a lot one time is suspisus activity for bank there a lot business kind that you invest and get your income after many times investing and as you said its tax return times (bull... its kind of taking advantage for banks)

let says some body is in no where arround the world and she/he trust his bank and for security reason do not want to carry money just deposit and (word tricks by bank its are diffenrent bull,....) and will use that money over credit card (thats why banks make money on spending % ) the person can be really in bad situation some where arround the world

they have to notice its easy for programmer to setup software and as soon as you deposit take the money and drop your limit this is insane ( may be chinise goverment not allow banks for this who knows)

http://www.consumerfinance.gov/contact-us/

this was my first step did open a case and will go on and on like next is BBB

i keept 60k without any interest in boa for years and was investing some time in stocks

now will not deposit any sent any more

and folks trust is every thing in financial systems sharks are destroying it