topic Re: Bank Of America Credit Card Cancelled... in Credit Cards

Bank Of America Credit Card Cancelled...

ADARPegasus — Wed, 13 Aug 2014 23:10:43 GMT

Ok so i applied for 3 new credit cards in January and got approved for all 3.

Citi Premier Card - $22,000

Discover It Card - $15,000

and the crappy

Bank of America -$500

So Bank of America approves me for a account with a $500 limit...... $500 really??? like ok so anyways i have the card for a month and then i get a call from Bank Of America Credit Services and they tell me i have to much credit and they are closing my account because its to risky even though i used the card 5 times and paid in full 5 times in that month because a credit analysis said if i want a higher limit. I need to over use the card so they know i need a higher limit. So it gets closed and she says to call back in a couple months so i call back this morning, she soft pulls my credit and says i still have to much credit because i have $75000 in credit card limits btw only $3500 of it is being used so my Utilization is very low and my income is $256,000 a year. Like what is going on with Bank Of America?

Re: Bank Of America Credit Card Cancelled...

Closingracer99 — Wed, 13 Aug 2014 23:15:31 GMT

@Jonbuck06 wrote:
Ok so i applied for 3 new credit cards in January and got approved for all 3.

Citi Premier Card - $22,000
Discover It Card - $15,000
and the crappy
Bank of America -$500

So Bank of America approves me for a account with a $500 limit...... $500 really??? like ok so anyways i have the card for a month and then i get a call from Bank Of America Credit Services and they tell me i have to much credit and they are closing my account because its to risky even though i used the card 5 times and paid in full 5 times in that month because a credit analysis said if i want a higher limit. I need to over use the card so they know i need a higher limit. So it gets closed and she says to call back in a couple months so i call back this morning, she soft pulls my credit and says i still have to much credit because i have $75000 in credit card limits btw only $3500 of it is being used so my Utilization is very low and my income is $256,000 a year. Like what is going on with Bank Of America?

I say screw them and go elsewhere lol

Re: Bank Of America Credit Card Cancelled...

j_casteel — Wed, 13 Aug 2014 23:18:05 GMT

Maybe they can see that $25k CO you have with Chase?

Re: Bank Of America Credit Card Cancelled...

j_casteel — Wed, 13 Aug 2014 23:19:15 GMT

**EDIT: and/or the new account. ^^

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Wed, 13 Aug 2014 23:23:17 GMT

No that chase account isnt in collections and it doesnt show on my credit.

Re: Bank Of America Credit Card Cancelled...

Bman70 — Wed, 13 Aug 2014 23:34:04 GMT

I can't help but think BofA must somehow know about the 25k charge-off or the car repo..

Re: Bank Of America Credit Card Cancelled...

baller4life — Wed, 13 Aug 2014 23:34:22 GMT

ok I am confused. You had a $10k card cancelled last year and then $500 card this year???

http://ficoforums.myfico.com/t5/Credit-Cards/Bank-of-America-Card-Cancelled/td-p/2146539

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Wed, 13 Aug 2014 23:45:30 GMT

Yess!! Its like Bank Of America has something against me or something!

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Wed, 13 Aug 2014 23:48:43 GMT

What car repo lol?

Re: Bank Of America Credit Card Cancelled...

baller4life — Wed, 13 Aug 2014 23:50:50 GMT

@Jonbuck06 wrote:
Yess!! Its like Bank Of America has something against me or something!

Interesting.....

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Wed, 13 Aug 2014 23:52:30 GMT

Yea but the 10k card was a secured card.. This one was a unsecured travel rewards card.

Re: Bank Of America Credit Card Cancelled...

Bman70 — Thu, 14 Aug 2014 00:00:33 GMT

@Jonbuck06 wrote:
What car repo lol?

The one last year you posted about: http://ficoforums.myfico.com/t5/General-Credit-Topics/My-car-was-just-repossessed/td-p/2539747

Even if you got the car back, doesn't it stay on your report as a negative for a while?

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Thu, 14 Aug 2014 00:08:40 GMT

No that wasn't reported to credit because it was a Title Loan not thru a bank. it was through a pay day loan place and they don't report to credit. But i sued them haha and my car was returned and they cancelled out the rest of that loan.

Re: Bank Of America Credit Card Cancelled...

baller4life — Thu, 14 Aug 2014 00:12:31 GMT

Ok now I am further confused. Maybe I need a cocktail to help me sort this out. In 2011 you had a unsecured $10k siggy. Then 2013 you had a $10k secured cancelled. Now a $500 unsecured cancelled. I'm sorry but I really can't worked this out in my brain. What happened to your $10k card from 2011?

http://ficoforums.myfico.com/t5/Credit-Cards/Bank-of-America-Signature-Visa-Rewards-Card-How-long-until-i-get/td-p/1055194

Re: Bank Of America Credit Card Cancelled...

Anonymous — Thu, 14 Aug 2014 00:22:10 GMT

@Jonbuck06 wrote:
No that wasn't reported to credit because it was a Title Loan not thru a bank. it was through a pay day loan place and they don't report to credit. But i sued them haha and my car was returned and they cancelled out the rest of that loan.

$256k and you had a $25k repo?

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Thu, 14 Aug 2014 00:24:06 GMT

OMG lol ok ok ok let me break this down

2011 I applied for a BOA Signature card with my Grand mother thats why that one was approved with such a high limit. That one was terminated by the bank my grandma just didnt want to have it anymore and she wanted to be removed so they cancelled it because my credit was sufficient to sustain 10k from them apparently

2013 I opened a 10k secured card because they said after having it for a year it would turn to a unsecured card! but after 2 months they closed it with no reasoning i just got that letter that says due to economic trends, my spending pattern and usage. My accounts being terminated.

Now, I have really good credit now i got approved for 3 siggy cards and a discover plus the bank of america card. Then i got a call from them saying they don't like that i have to much credit now and to many new accounts. then i waited until 08/11/14 which was 7 months since i was approved for all those cards and they said I still have to much credit and it makes me a liability.

I think its my identity theft from 2004 - 2010

Re: Bank Of America Credit Card Cancelled...

baller4life — Thu, 14 Aug 2014 00:27:24 GMT

Gotcha. Just trying to make some sense out of them cancelling your $500 card. Never heard of that from BOA.

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Thu, 14 Aug 2014 00:27:40 GMT

@Anonymous wrote:
@Jonbuck06 wrote:
No that wasn't reported to credit because it was a Title Loan not thru a bank. it was through a pay day loan place and they don't report to credit. But i sued them haha and my car was returned and they cancelled out the rest of that loan.
$256k and you had a $25k repo?

My Income was only 180k back then i got a raise in January. Long story short i didnt have medical i cut my hand open and needed tendon surgery and it was gonna cost $24k so i needed a emergency loan because they said the surgery had to be done within 7 days or the tendon couldnt be repaired because it broke entirely so they had to cut half way up my arm and pull the tendon all the way back down. I can post a picture if u want but i didnt end up paying the loan because they wronged me.

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Thu, 14 Aug 2014 00:28:32 GMT

@baller4life wrote:
Gotcha. Just trying to make some sense out of them cancelling your $500 card. Never heard of that from BOA.

Its weird man i cant even have bank accounts with them. when i open a bank account its closed by risk in like 2 days.

Re: Bank Of America Credit Card Cancelled...

ADARPegasus — Thu, 14 Aug 2014 00:34:34 GMT

So odd question because i never payed attention. Whats so good about Visa Signature cards?