topic Re: BOA CC CLOSED BECAUSE OF CLI REQUEST in Credit Cards

BOA CC CLOSED BECAUSE OF CLI REQUEST

Takunda1 — Fri, 15 May 2009 22:09:18 GMT

As the title says.. I requested a CLI request from BOA on my World Points CC on Saturday and got the 5- 10 day decision message. Today I come home from work, I have a letter from BOA telling me that they have decided to close my account " due to a pattern of late payments on this card or any other card issued by FIA card services.

There was a number to call for more info. I called the number and the associate I spoke with told me that, because of a payment plan I had with Chase on a cc in 2005, they decided to close my account. Thing is since 2005 I have never been late on anything; so I asked if there was any possibility of reinstating the account since 2005 is so far back and he said no. Apparently this came up because of the soft pull they did for my CLI request. Good thing is I only had a recurring charge from True Credit on it, I guess I'll put that my my CITI card now.

So if you plan request a CLI from BOA make sure all the bad stuff on your report has fallen off or else, they' may just close your account like they did to me.

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Fri, 15 May 2009 22:15:17 GMT

Sorry to that. But in my opinion that's just bad business on the part of B of A.....

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Sat, 16 May 2009 01:26:31 GMT

Takunda1,

Cartercorp is right, that is bad business! Actually you just answered my question from another post regarding whether or not I should ask for a CLI on my BOA American Express card at activation. After that I know I shouldn't be asking for one because I have a now closed mortgage account that went 120 days late 5 years ago. Its been closed for two years.

Message Edited by zerotohero on 05-15-2009 06:25 PM

Message Edited by zerotohero on 05-15-2009 06:26 PM

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Red1Blue — Sat, 16 May 2009 01:28:04 GMT

They did not know about this when they first issued the card? When did you get the card? Why would they cancel the card now?

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Sat, 16 May 2009 02:06:13 GMT

@Red1Blue wrote:
They did not know about this when they first issued the card? When did you get the card? Why would they cancel the card now?

Wondering the same things

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Takunda1 — Sat, 16 May 2009 02:28:18 GMT

@Red1Blue wrote:
They did not know about this when they first issued the card? When did you get the card? Why would they cancel the card now?

They knew all this when they issued the card, I've had this card since 2006. Started as a 99/500 then graduated to Gold Visa , then to World points. All the info was on my credit report. Funny thing though is I see more posts of good things happening for others at BOA. I guess their risk analysis software didn't like me that much

Good thing is it won't affect my dti because I always PIF. FICO scores as Feb . EXP: 705 , EQ 712 TU: 698.

Message Edited by Takunda1 on 05-15-2009 09:28 PM

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Watchmann — Sat, 16 May 2009 15:29:37 GMT

Whether or not BoA's action seems to make sense or not is a whole other issue, but I'm amazed at people who still are asking for CLI's as if it was 2006-2007. Stop already! Unless you absolutely need more credit to live everyone needs to chill out and stop asking for more credit. Let things settle down. The industry is busy shedding $1-2 TRILLION dollars of available credit, so why stick your head up and ask for a CLI? Once you ask a creditor for more money they will start looking at your account, and once that happens anything may happen. You may have squeaky clean credit (or so you think), but asking for scrutiny in turbulent times is never a good idea. Proceed at your own risk, but I don't know why people are surprised when adverse action is taken against their TL's in this environment.

Message Edited by Watchmann on 05-16-2009 10:29 AM

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Sat, 16 May 2009 03:29:53 GMT

There have been many, many posts on several credit-related forums from customers who have received adverse action (CLDs or closures) in response to calling BOA to request a CLI or other inquiries. That is why many people are recommending that customers not call BOA unless they are truly willing to roll the dice.

The law of unintended consequences rules at BOA these days ...

Message Edited by Revike on 05-15-2009 08:29 PM

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

smallfry — Sat, 16 May 2009 03:37:01 GMT

@Watchmann wrote:
Whether or not BoA's action seems to make sense or not, I'm amazed at people who still are asking for CLI's as if it was 2006-2007. Stop already. Unless you absolutely need more credit everyone needs to chill out and stop asking for more credit at this time. Let things settle down. Once you ask a creditor for something they will start looking at your account. Once that happens anything may happen. You may have squeaky clean credit (or so you think), but asking for scrutiny is never a good idea. Proceed at your own risk, but I don't know why people are surprised when adverse action is taken against their TL's.

Good idea not to put a target on your forehead at this time.

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Red1Blue — Sat, 16 May 2009 04:40:04 GMT

That is strange. I did not think they would do things like that. My 99/500 card became about a year ago and now it is at $7100 CL. I agree with others, asking for CLI now a days can cause negative consequences. They did CLD on my Oasis card turned Clear and I asked for CLI back then freeze my accounts and asked for tax returns as part of their FR. I told Amex to take a hike and asked them to close all my accounts with them. They closed and reported on my CR as "closed at the request of consumer". I did not know BOA is doing this with their 99/500 credit builder card which is almost like Amex Oasis credit builder card.

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Sat, 16 May 2009 04:52:38 GMT

@Watchmann wrote:
Whether or not BoA's action seems to make sense or not, I'm amazed at people who still are asking for CLI's as if it was 2006-2007. Stop already. Unless you absolutely need more credit everyone needs to chill out and stop asking for more credit at this time. Let things settle down. Once you ask a creditor for something they will start looking at your account. Once that happens anything may happen. You may have squeaky clean credit (or so you think), but asking for scrutiny is never a good idea. Proceed at your own risk, but I don't know why people are surprised when adverse action is taken against their TL's.

Agreed

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Wed, 19 May 2010 13:55:52 GMT

Same exact thing around the same time, August of 2009. My 99/500 was unsecured and I got the $99 back, waited a few months and asked for a CLI bc I was going to buy a house and wanted a higher score. She put me on hold, came back and said they were closing my account. I asked why and she said bc I have a PAID collection on my report.

My argument back to her was that I was given that card with a score of like 485, was always perfect on it, and now my score was approx 650. Also, when I got that card, I had 2 charge offs and like 7 collections. During the time I had the card, I had 1 chargeoff and 6 collections removed. I also had no baddies in the 18 months since having that card, and was clearly on my way up in the credit world. It really ticked me off seeing as I have a checking, savings and a business checking with BOA for several years. Oh well, I should never have drawn attention to myself.

At least you have a good history reporting for the next 7 years.

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Thu, 20 May 2010 06:56:40 GMT

@Takunda1 wrote:
As the title says.. I requested a CLI request from BOA on my World Points CC on Saturday and got the 5- 10 day decision message. Today I come home from work, I have a letter from BOA telling me that they have decided to close my account " due to a pattern of late payments on this card or any other card issued by FIA card services.

There was a number to call for more info. I called the number and the associate I spoke with told me that, because of a payment plan I had with Chase on a cc in 2005, they decided to close my account. Thing is since 2005 I have never been late on anything; so I asked if there was any possibility of reinstating the account since 2005 is so far back and he said no. Apparently this came up because of the soft pull they did for my CLI request. Good thing is I only had a recurring charge from True Credit on it, I guess I'll put that my my CITI card now.

So if you plan request a CLI from BOA make sure all the bad stuff on your report has fallen off or else, they' may just close your account like they did to me.

Since when has Chase ever been affiliated with FIA?

Smells like universal default to me.

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

fricnfrac1 — Thu, 20 May 2010 09:00:11 GMT

I have refrained from req a cli from BOA, strictly from what I have read on here. I had a $300 secured card in Sept 2007, graduated to an unsecured nine months

later. I have a perfect payment history with them, and my cs was extremely low when they took a chance on me My CS is much higher now. . I still have baddies waiting to drop off, but I know that the chances of my getting a cli is low considering what is going on in the credit market nowadays.

In fact, looking of my Exp CR, I saw that they did a soft pull in Feb on my account. Interesting!

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Thu, 20 May 2010 15:30:44 GMT

I should have been more disciplined, but I never thought they would close my account. I think I will apply for another card with them, and if I can only get a secured card, I will put a lot down. In the long run, having a $5k or $10k unsecured limit with them will be worth losing the interest on that money for a year.

Of course, Citi has a secured card as well that you can put $5k into. At least theirs goes into a CD. BOA's just sits in their account making $ for them without any payments to you.

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Thu, 20 May 2010 15:37:52 GMT

@Anonymous wrote:
I should have been more disciplined, but I never thought they would close my account. I think I will apply for another card with them, and if I can only get a secured card, I will put a lot down. In the long run, having a $5k or $10k unsecured limit with them will be worth losing the interest on that money for a year.

Of course, Citi has a secured card as well that you can put $5k into. At least theirs goes into a CD. BOA's just sits in their account making $ for them without any payments to you.

Starting,

Why are you interested in app'ing for another card with them if they closed your account? There are lots of fish in the sea - and some of them are much better behaved than others.

DH has a BofA, but if they closed it, he would swim to friendlier waters if he wanted a new card.

Just curious as to your thinking on this one......

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

BungalowMo — Thu, 20 May 2010 15:40:56 GMT

@Anonymous wrote:

Of course, Citi has a secured card as well that you can put $5k into. At least theirs goes into a CD. BOA's just sits in their account making $ for them without any payments to you.

Sounds like Citi has BoA beat! I apped 2x with BoA. Declined both times. I've divorced them from my possible app list. They're a joke! (to me anyway)

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

Anonymous — Thu, 20 May 2010 15:43:21 GMT

@BungalowMo wrote:

Sounds like Citi has BoA beat! I apped 2x with BoA. Declined both times. I've divorced them from my possible app list. They're a joke! (to me anyway)

SSSSSOoooo agree!!!!!

Re: BOA CC CLOSED BECAUSE OF CLI REQUEST

fused — Thu, 20 May 2010 18:03:33 GMT

@Anonymous wrote:

@BungalowMo wrote:

Sounds like Citi has BoA beat! I apped 2x with BoA. Declined both times. I've divorced them from my possible app list. They're a joke! (to me anyway)

SSSSSOoooo agree!!!!!

Give me some more time and I might agree with the two of you.