Re: Bank of America $23,500 CLD
04-28-2009 11:51 PM
I logged into my BoA account today and saw that I got the dreaded CLD (first time ever). My limit went from $24500 to $12500. I can see why they did this. I do not use this card for much anymore (it used to be my main card a few years ago).
In 2007, I charged a total of $87.53 on my BoA card. My 2008 annual spending total was $79.65. So far this year, I've charged a whopping $10.00 on that card.
Like you, I relied on this card heavily several years ago. However, my spending habits changed, and along with that, so did my credit card preferences.
I run substantial amounts of transaction activity through all my cards, then pay in full at the end of the month, a pattern which I hope will encourage them not to cut my limits.
My problem is that I make a lot of charges on my 2 Chase Freedom cards. Chase's rewards program is so much better than Bank of America's WorldPoints.
If I didn't have rewards cards, I'd probably do as you do and run substantial amounts of charges through all of my accounts.