https://ficoforums.myfico.com/t5/General-Credit-Topics/Mid-month-balance-update/m-p/307924#M113301 Bank of America just cheated me out of 26 points.<BR /><BR />Basically I have a $2K MasterCard and $5K AmEx with them, and I've been spot on for keeping the balances at 1%. For some reason, they posted my balanced on the first of the month instead of at the normal cycle time. Knocked my 739 down to 713 pretty fast!<BR /><BR />$400 in "debt", and that justifies 26 points?<BR /><BR />In perspective, based on the interest rates on the "What your credit score means to you page", this would cost me over $800 in extra interest on a $25,000 car loan. The shortest and cheapest loan I would consider, and the cost is already an extra $800 for a measly $400 in extra "debt".<BR /><BR />I refer to it as "debt" because I never spend more than I have available in my checking/savings account. But does a number care?...No.<BR /><BR />On the positive side, my request for a $3K CLI was immediately approved through online banking. As soon as it posts my score should go back up to about the same, as I'll be under the dreaded 10% line.<BR /><BR />The moral:<BR />Don't wait to ask for a (soft) CLI, even if you're managing to keep your balances at 1%. Bad stuff can still happen, and if you're like me it won't even be your fault. Sat, 02 Aug 2008 19:04:15 GMT Anonymous 2008-08-02T19:04:15Z https://ficoforums.myfico.com/t5/General-Credit-Topics/Mid-month-balance-update/m-p/307924#M113301 Bank of America just cheated me out of 26 points.<BR /><BR />Basically I have a $2K MasterCard and $5K AmEx with them, and I've been spot on for keeping the balances at 1%. For some reason, they posted my balanced on the first of the month instead of at the normal cycle time. Knocked my 739 down to 713 pretty fast!<BR /><BR />$400 in "debt", and that justifies 26 points?<BR /><BR />In perspective, based on the interest rates on the "What your credit score means to you page", this would cost me over $800 in extra interest on a $25,000 car loan. The shortest and cheapest loan I would consider, and the cost is already an extra $800 for a measly $400 in extra "debt".<BR /><BR />I refer to it as "debt" because I never spend more than I have available in my checking/savings account. But does a number care?...No.<BR /><BR />On the positive side, my request for a $3K CLI was immediately approved through online banking. As soon as it posts my score should go back up to about the same, as I'll be under the dreaded 10% line.<BR /><BR />The moral:<BR />Don't wait to ask for a (soft) CLI, even if you're managing to keep your balances at 1%. Bad stuff can still happen, and if you're like me it won't even be your fault. Sat, 02 Aug 2008 19:04:15 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/Mid-month-balance-update/m-p/307924#M113301 Anonymous 2008-08-02T19:04:15Z https://ficoforums.myfico.com/t5/General-Credit-Topics/Mid-month-balance-update/m-p/307927#M113302 <DIV>There have been several posts about BofA doing mid-cycle updates after there has been a change in your account.&nbsp; (I've been 'bitten' by this twice!)</DIV> <DIV>&nbsp;</DIV> <DIV>I'm sorry to hear that they 'gotcha'.&nbsp; It's just one of those crazy things that we don't have hardly any control over!</DIV> <DIV>&nbsp;</DIV> <DIV>Chin up, at least BofA still loves ya!&nbsp; <img id="smileywink" class="emoticon emoticon-smileywink" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-wink.gif" alt="Smiley Wink" title="Smiley Wink" /></DIV> Sat, 02 Aug 2008 19:06:38 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/Mid-month-balance-update/m-p/307927#M113302 Anonymous 2008-08-02T19:06:38Z