topic Boa AA... in Credit Cards

Boa AA...

Anonymous — Sat, 20 Oct 2018 23:35:08 GMT

I logged into my BOA MLB MasterCard that I’ve had for four years now.. never late, I’ve always either PIF OR carried a small balance in relation to my limit. I had an $800 balance on $5000 and they slashed my limit to $1000, so essentially balance chasing me. I called to find out why they said “wait for a letter.” Then I did finally get out of a rep that it was a “risk assessment” and due to inquiries. I opened just two cards in the past six months which to me isn’t excessive. I paid it off immediately and called to cancel it. Not dealing with shaky lenders.

Re: Boa AA...

kdm31091 — Sat, 20 Oct 2018 23:51:16 GMT

It can and does happen with all of the lenders. I don't view BOA as any more shaky than any of the rest per se. My guess is with inquiries and utilization (albeit not very high on the card), they wondered why you were seeking additional credit while not paying off the balance you had. I'm not saying they were right or wrong, just trying to see their perspective.

The good news is there's plenty of lenders out there so we can choose ones that we "get along with" better as a business relationship, but at the end of the day, that's what it is and one is never exempt from AA regardless of lender.

Re: Boa AA...

Anonymous — Sat, 20 Oct 2018 23:56:16 GMT

While I see your point, I’m baffled as to why they’d actively promote a person carrying a balance (for example, just last week I got balance transfer checks for them for a special promo to get cash from) but then do something like this when I’m actually utilizing a little of the limit they gave me. I’ve always paid about triple if not more of the minimum or paid in full. My credit is anywhere from 700-730 across the board. I don’t have high utilization.. to me I can’t understand.

Re: Boa AA...

kdm31091 — Sun, 21 Oct 2018 00:00:27 GMT

Banks seem to be tightening up across the board really.

Re: Boa AA...

Anonymous — Sun, 21 Oct 2018 00:05:23 GMT

BoA turned out to be my shaky lender as well this week. They cut my limit taking me to less than $100 available credit. I'm transferring that balance over to Discover and then putting the Boa in the terrarium (sock-drawer).

Re: Boa AA...

AverageJoesCredit — Sun, 21 Oct 2018 00:05:23 GMT

Sorry to hear this. From what you describe, it doesnt sound rationale to AA. slight balance on your card, 2 hps in 6 months. Shoot i should have been AA'D then. Ive had my balance as high as 8500 on my 10k Boa card and recently had s 5k balance with them and 4k+ with Navy at same time. Nary a word or action. Just paid off everything with a loan so now if they slash limit oh well.

Sorry Op, just find as lender who fits your needs

Re: Boa AA...

Remedios — Sun, 21 Oct 2018 01:26:37 GMT

@Anonymous wrote:
I logged into my BOA MLB MasterCard that I’ve had for four years now.. never late, I’ve always either PIF OR carried a small balance in relation to my limit. I had an $800 balance on $5000 and they slashed my limit to $1000, so essentially balance chasing me. I called to find out why they said “wait for a letter.” Then I did finally get out of a rep that it was a “risk assessment” and due to inquiries. I opened just two cards in the past six months which to me isn’t excessive. I paid it off immediately and called to cancel it. Not dealing with shaky lenders.

BoA is not assessing the risk just by looking at that one card.

If your other cards show high-ish utilization, combined with new accounts it might make computer a bit twitchy, as it may appear you're in financial distress.