Bank of Anerica lowered limit on one card to increase another

[805orbust]

Gotta love it @ryder32244 ... pull down $350k and BOA gets all snarky with your limits... you really gotta love these banks.

[FinStar]

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@805orbust wrote:

Gotta love it @ryder32244 ... pull down $350k and BOA gets all snarky with your limits... you really gotta love these banks.

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But, do we really know the entire picture @805orbust? Meaning, the OP hasn't received any letters yet indicating why the reallocation was done instead of the additional bump. Just because someone has a moderate or higher income doesn't translate into banks handing out limits like candy. It's not like the request was denied because of not meeting income requirements.

[pauldc73]

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@Aim_High wrote:

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@ryder32244 wrote:

... so now Im scared to ever ask for a BOA inclease because it could reduce the other ... 

Any tips here? Or how do you all handle BOA in this situation? 

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As others stated, @ryder32244, this practice is disclosed by BofA and may be done by other lenders also, so your situation is not unique. I've personally experienced this with BofA, especially as I experimented with breaking the $99.9K ceiling with them once I reached it. (Never got a higher TCL approval than $99.9K though.)

But it's no biggie and nothing to fear. You can easily move limits around with them over the phone, so if they move it and you don't like it, just move it back!  Nothing is lost; only temporarily relocated.  

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The only thing that was lost is the ability to make an $11k to $17k purchase, so I wonder if that was important for the OP

[805orbust]

@FinStar I definitely get that they have a policy, and are perfectly justified in running their business in whatever fashion they deem necessary.  I just find it humorous where the lines are drawn at times. My personal viewpoint however, which is worth nothing outside of my own head. 

[Aim_High]

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@pauldc73 wrote:

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@Aim_High wrote: But it's no biggie and nothing to fear. You can easily move limits around with them over the phone, so if they move it and you don't like it, just move it back!  Nothing is lost; only temporarily relocated.  

The only thing that was lost is the ability to make an $11k to $17k purchase, so I wonder if that was important for the OP

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OP didn't lose the ability to make an $11K to $17K purchase. The $17K credit limit can be restored in minutes with a simple phone call to customer service.  I've done it several times with Bank of America with no problems and the new limit is immediately available. 

[ryder32244]

All comments helped, thanks!

I understand I didnt "lose" anything here, but I have two follow up questions.  I have about 8k used on the card that previously had the 17k limit on it.  Its at 0% for 6 more months and I have it set to pay down to 0 a month before my 0% runs out. Does having 8k used of the now 11k affect me in any way?

I think from a FICO perspective its looking at my overall usage, but does BOA see that as a bad thing?

Also does BOA do auto increases? If so, then I think the safest thing is to wait for those.

Thanks for all yalls help and for not getting on my about the typos.

[805orbust]

You for sure will receive a score penalty from FICO being over 70% utilization on that card, however that will go down as you pass the 69%, 49%, 29% etc thresholds.  

[OmarGB9]

This, only the thresholds are going down by 20% starting at 88.9%. So 88.9, 68.9, etc. 

[FinStar]

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@ryder32244 wrote:

All comments helped, thanks!

I understand I didnt "lose" anything here, but I have two follow up questions.  I have about 8k used on the card that previously had the 17k limit on it.  Its at 0% for 6 more months and I have it set to pay down to 0 a month before my 0% runs out. Does having 8k used of the now 11k affect me in any way?

I think from a FICO perspective its looking at my overall usage, but does BOA see that as a bad thing?

Also does BOA do auto increases? If so, then I think the safest thing is to wait for those.

Thanks for all yalls help and for not getting on my about the typos.

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As mentioned in the 2 posts above, utilization would definitely have an impact to scores depending on the thresholds and the scoring model/version.

That said, you can have a significant portion of your other account's credit limit reallocated back to the $11K limit account so that the account with the $8K BT/balance can have some utilization cushion, if that matters to you. How big of a scoring impact is really profile-specific. As far as how BoA sees it, it really depends on your internal score/history with them. Personally, I wouldn't want to stick out like a sore thumb (if it were me) and had the options to mitigate things 🤷‍♂️

As far as auto-CLIs, yes BoA does them, but they tend to be far and in-between unless you're cycling the account very frequently.