topic Re: Requested BOA CLI, Denied and Closed my Account in Credit Cards

Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 12:58:51 GMT

WTF?!? I called in to request a CLI, and they denied and closed my account! I had the emerging credit 99/500 from BOA that unsecured 6 months ago. Never late, always responsible. Called in to get a CLI and they denied me and closed my account. Has this ever happened to anyone?

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 13:01:10 GMT

Also, will this say "closed by credit grantor" on my report? Will that have an adverse affect on my score? I am so pissed off.

Re: Requested BOA CLI, Denied and Closed my Account

Watchmann — Sat, 22 Aug 2009 13:31:00 GMT

@Anonymous wrote:
Also, will this say "closed by credit grantor" on my report? Will that have an adverse affect on my score? I am so pissed off.

It makes no difference to the FICO score as to who closed the account.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 13:55:01 GMT

D... sorry to hear this my card just unsecured a few months back BOFA has me scared to evan request a CLI.

Message Edited by mjbfan79 on 08-22-2009 08:55 AM

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 14:01:22 GMT

Has your credit profile got any worse or utilization gone up on any cards....IF they don't like what they see they can close it anytime....

Re: Requested BOA CLI, Denied and Closed my Account

llecs — Sat, 22 Aug 2009 15:26:10 GMT

Wow. Sorry that happened. Everything is 20/20, but generally you don't want to ask for a CLI on the 99/500 until it unsecures.

As prev. mentioned, did anything change for the worse on EX between now and 6 months ago (new baddies, higher util)?

It would take many phone calls, but on rare occasions they have been known to reverse their decision. I had the 99/500 and they also closed it. I made a payment via the teller and the teller miscued it making a payment well over the $500 CL. My checking didn't have the money and the payment bounced. They then closed my 99/500. It took time and a bunch of phone calls, but I got them to reverse their decision. It unsecured on schedule and have since received a CLI.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 15:27:05 GMT

If I were you I would've closed them or better yet not even applied for BOA to me they are Just as bad as HSBC don't let them get you upset. Right now those banks are busy spending that bailout money they don't need your business in a year or so when your scores are excellent and that banks trying to make even more money Just remember what they did. You see those seniors 60,000 of them showed AARP with closing their membership thats just from July Imagine how many it will be in 6 months geez. Now Imagine if we did the same to those bailout banks they need us more than we need them!

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 15:49:58 GMT

@Anonymous wrote:
Also, will this say "closed by credit grantor" on my report?

Yes.

@Anonymous wrote:
Will that have an adverse affect on my score?

That notation has not adversely effect on your FICO scores. However, if you are carrying balances your scores may go down due to a UTIL change.

What was the reason they took this action. If no explanation was proffered you should call back and find out why.

Message Edited by creditwherecreditisdue on 08-22-2009 11:49 AM

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 16:03:32 GMT

Sorry!!! DH called for a CLI from $4,000. Had just done this with several other new cards - and had received some nice increases. BofA CLD'd him from $4,000 to $500. No changes on the reports but they pulled EQ originally and softed EX at the request - they report different accounts. We're using them as a disposable account because we have no idea what they will do. What other accounts do you have? HSBC does some decent rebuilder accounts - do you have one of those?

The hard part here is finding a bank card that will take you when you are just starting out. And of course, you can open a new unsecured card somewhere where they will treat you better. Some people have good luck with CU's - we didn't - we'll pursue them next year. Just don't let BofA get you DOWN - you are busy building UP!

Good luck! It's kind of like breaking up with a high-maintenance self-centered girlfriend - maybe painful at the moment but good in the long run!!!

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 16:10:57 GMT

I have a BoA card (it was never secured) that I received a CLI on last week. I've had the card for a year and figured it was about time. Although I got the CLI I requested, the CSR I spoke to had a suspicious tone that I've never gotten from Discover or Chase. Be careful with BoA.

Message Edited by Wesley23 on 08-22-2009 09:10 AM

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 16:13:00 GMT

@Anonymous wrote:
I have a BoA card (it was never secured) that I received a CLI on last week. I've had the card for a year and figured it was about time. Although I got the CLI I requested, the CSR I spoke to had a suspicious tone that I've never got from Discover or Chase. Be careful with BoA.

The results obtained when calling BofA are very dependent on who you talk to. So will be your comfort level with the call.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 16:24:12 GMT

Wesley23 wrote:
Although I got the CLI I requested, the CSR I spoke to had a suspicious tone that I've never gotten from Discover or Chase. Be careful with BoA.
Message Edited by Wesley23 on 08-22-2009 09:10 AM

Ok, explain.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 16:33:15 GMT

@Anonymous wrote:
Wesley23 wrote:
Although I got the CLI I requested, the CSR I spoke to had a suspicious tone that I've never gotten from Discover or Chase. Be careful with BoA.
Message Edited by Wesley23 on 08-22-2009 09:10 AM
Ok, explain.

I don't think the statement requires any explanation at all. On any call to BofA regarding a CL change there is a 50/50 chance you will be subjected to major attitude from the CSR/credit analyst. One time I request a CLI, get the wait message, call in and am told by a very snotty person I already have sufficient credit available for my income (BS) and to try again in six months. Next time I request a CLI I get the call in message and I speak to a very nice person and my CL is changed from $3.5K to $7.5K. Erratic behavior/results is just part of doing business with BofA. I think they have tried to merge a few too many corporate cultures without success.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 16:38:03 GMT

@Anonymous wrote:
~~I don't think the statement requires any explanation at all~~. On any call to BofA regarding a CL change there is a 50/50 chance you will be subjected to major attitude from the CSR/credit analyst. One time I request a CLI, get the wait message, call in and am told by a very snotty person I already have sufficient credit available for my income (BS) and to try again in six months. Next time I request a CLI I get the call in message and I speak to a very nice person and my CL is changed from $3.5K to $7.5K. Erratic behavior/results is just part of doing business with BofA. I think they have tried to merge a few too many corporate cultures without success.

I think you provided a very nice (and helpful) explanation.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 18:23:31 GMT

@llecs wrote:
Wow. Sorry that happened. Everything is 20/20, but generally you don't want to ask for a CLI on the 99/500 until it unsecures. blockquote>

Unless i misread the post i thought OP said it had unsecured 6 mos ago

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Sat, 22 Aug 2009 18:57:18 GMT

@Anonymous wrote:
Sorry!!! DH called for a CLI from $4,000. Had just done this with several other new cards - and had received some nice increases. BofA CLD'd him from $4,000 to $500. No changes on the reports Just don't let BofA get you DOWN Good luck! It's kind of like breaking up with a high-maintenance self-centered girlfriend - maybe painful at the moment but good in the long run!!!

I was B of A CLD by 5 figures. It wasn't one of my oldest relationships and for me the hassle of maintaining it wasn't worth it. But OP, beamMEUp is completely right. Don't sweat B of A! Funny analogy btw beam!

Re: Requested BOA CLI, Denied and Closed my Account

Takunda1 — Sat, 22 Aug 2009 21:09:41 GMT

Welcome to the club. This happened to me 3 months ago with my BOA gold card.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Tue, 25 Aug 2009 15:28:22 GMT

I may not have been clear in my original post. The card unsecured in March 2009. It is now August 2009 and I requested the CLI. I have had it a total of 17 months, and unsecured for about 5 months.

The explanation I got was that I had a Chase CC charge off on my CR and a collection account - which is true. The bank views me as a credit risk and is going to close my account. However, I countered that the Chase CO has been on there for 3 years and is paid, and the collection account has been on there for 2 years and is paid. (I am just having trouble getting these removed.) Both of these have been on there since before I applied for the card to begin with. My score has gone up about 120-150 pts since I got it (about 60 pts in the last 6 months).

Also, when I app'd for the card, I had about 7 different collections and 2 charge offs. All of which were unpaid. I have paid and removed 6 collections and 1 charge off (Cap One - I still dont know how that worked). My point to the rep is that I have done nothing but get better with credit, and have never been late or over limit on my BOA card, and they still cancelled me.

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Tue, 25 Aug 2009 15:35:53 GMT

I agree, the credit analyst with BOA have always given me an attitude. Its like they take offense to you asking for a CLI. Its not their money....gezzz. but they sure act like it. Maybe the more CLI's they approve their pay check goes down to make up for it.. lol

Re: Requested BOA CLI, Denied and Closed my Account

Anonymous — Tue, 25 Aug 2009 16:02:19 GMT

@Anonymous wrote:
The explanation I got was that I had a Chase CC charge off on my CR and a collection account - which is true. The bank views me as a credit risk and is going to close my account. However, I countered that the Chase CO has been on there for 3 years and is paid, and the collection account has been on there for 2 years and is paid. (I am just having trouble getting these removed.)

Paid or unpaid these items remain on your CBR's until aged off (7 or 7.5 years from DOFD) unless GW'ed away. In the case of Chase that is not very likely.

@Anonymous wrote:
Also, when I app'd for the card, I had about 7 different collections and 2 charge offs. All of which were unpaid. I have paid and removed 6 collections and 1 charge off (Cap One - I still dont know how that worked). My point to the rep is that I have done nothing but get better with credit, and have never been late or over limit on my BOA card, and they still cancelled me.

You may be better but the underwriting standards have changed. They are what they are at the time you call and not what they were six months earlier or later. Unfortunately BofA is particularly fickle in this regard.