Another BOA CLD

[Smarter]

Just thought I would share this.  My 99/500 BOA unsecured in March and my CL was increased to 1000,  I also was able to change it to a Worldperks.  In June, I hit the love button and was given the 5-7 day message and denied.  Fine--just thought I would give it a shot.  3 months later, they  charge me my 29.00 annual fee, and I was cut to 500.

I have been rebuilding for almost 2 years.  This is my first CLD--most of my other cards have been increasing in limits (except Target of course.)  I have paid BOA in full every month, except this month due to the annual fee being added.  I have never put more than 200 on it in any billing cycle. My utility is generally around 8-9%.  It is at 18% right now due to a trip that I took.  Nothing else has changed.  Never late, etc.  I have some old baddies that were there when I opened the card.

Not sure if hitting the button triggered something.... or 18% util.  just thought I would offer up a warning!  Hoping this won't impact my scores....I am hovering on 700!

[Anonymous]

Don't feel bad. Here's my B of A story... B of A Amex 2006 opening CL 7k. Regular love button increases about every 6 mos to near 20K in January this yr. In March a CLD to 8k due to econ. L8r income drop but tried a CLI and instead cut to 500. Called and was asked about liquid savings and home ownership. Wow! I was told. But LOL have no idea why they asked about those things because no budging. I closed their measily 500. Closing my other relationships with them. FICOs all upper 700s.

[Anonymous]

Call a backdoor number and ask them to restore your credit line (and hopefully increase it). There have been reports of success without too much pain by getting past the first line CSRs.

Good luck. I hope they restore you and give you the CLI that you requested in the first place. I'll keep my fingers crossed that they do.

[Anonymous]

Been there. Done that. But that's ok B of A. I've replaced you and you weren't my only one. Newbie's CL is more than 500. Though it's not what I previously had. Not as low a rate either but my util is low and I PIF. I imagine in time you would have jacked my 7.9 fixed anyway while you lower CLs.

Message Edited by ExcellCR on 07-10-2009 04:05 PM

[Smarter]

Thanks for the encouragement--it is really hard to not take these things personally!  I have worked so hard.  I wonder sometimes if it is worth all the stress to play the game.  I will try calling tonight when I get home--nothing to lose I guess.  I will post my outcome!  At least my other cards have been giving me small auto increases, so hopefully it won't hurt too much if I don't get anywhere.

[Anonymous]

Good luck to ya Smarter! I hope you have better luck!

LOL I did take it personally till I remembered there are others out there givin me more love. And lots of folks are getting CLD's and rate increases. Heck Cap 1 raised my rate by 9% and Discover by 3. But @ least they're both still 5 figure CLs. So I can't complain too much.

[Anonymous]

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@Anonymous wrote:
Good luck to ya Smarter! I hope you have better luck!

LOL I did take it personally till I remembered there are others out there givin me more love. And lots of folks are getting CLD's and rate increases. Heck Cap 1 raised my rate by 9% and Discover by 3@. But @ least they're both still 5 figure CLs. So I can't complain too much.

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Discover raised your rate by 3% to what exactly?

[Anonymous]

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@Anonymous wrote:

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Discover raised your rate by 3% to what exactly?

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Discover jumped from 9.24V to 12.99V after the limit went from 12k to 16k earlier this yr. Only have a tank of gas on the balance though.

Message Edited by ExcellCR on 07-11-2009 02:57 AM

[Anonymous]

The best rate for a new account currently posted on the website is 10.99%V. My account was opened about a year ago at 11.99%V and is now at 9.99%V. I wonder how they determine who gets what.

[Anonymous]

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@Anonymous wrote:
The best rate for a new account currently posted on the website is 10.99%V. My account was opened about a year ago at 11.99%V and is now at 9.99%V. I wonder how they determine who gets what.

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No idea. I've been a Discover cardmember for 14 yrs. In that time they've agreed to lower my rate but not always. Originally it was fixed but after several yrs they changed it to variable. This increase according to the letter was "based on the higher cost of doing busness due to the challenging economic environment". I've PIF for over 10 yrs other than when i had a promo rate a few yrs ago and carried a balance for just a few mos.