B of A CLD

[Tons_of_Debt]

B of A just decreased my previously secured (now unsecured) card from $1500 to $500. I have a previous account with them that's on a payment plan, but all payments have been on time since June of 2008. 

I called in and requested a review of the cards and was denied. The woman tried to make it seem like I was lucky that she wasn't closing the $500 card. :-(

Just an FYI, this all came as a result of hitting the luv button. :-( 

[Tons_of_Debt]

FYI, lesson learned in this: Wait 2 years until all late payments fall off before applying for anything again. :-(

[Anonymous]

Crud!

Sorry to hear about this happening to you TOD. If I recall correctly, there were some other reports of similar AA after either hitting the LUV button or calling in to BoA over the last month or so. And (can't recall for certain), I think that it was recently unsecured cards.

How much longer will it take to pay off the card in the payment plan? I'd lay low for a while, get that other card paid off, wait a few more months, then start building up the BoA (now unsecured) card again-- assuming you want to maintain a relationship with them. Or, SD the card and go after something that'll really delight you.

I know this is frustrating, but hang in there. Some of my most despairing credit moments have been a single step ahead of some of my best.

[score_building]

remember you can think of AA as 'bad weather' -unpleasant but not lasting.

as you continue to progress, you'll chose to regain you CL with them or other lenders going forward.

i haven't had a CLI in almost a year on one of my boa accts and since my reporting util spiked back up into the twenties i wouldn't dream of calling boa for anything, too many posts siting call & chop with boa again.

kudos to PP

[Anonymous]

BofA's favorite AA of the month seems to be hammering formerly secured accounts that are now unsecured. The least they could do is offer a return to secured status and allow you to retain your CL. All this right after they issued that press release stating no more AA. Something very bogus is going on. No wonder Barney Frank is looking to roll forward the implementation date for the remainder of the Credit CARD Act of 2009 provisions.

[Tons_of_Debt]

Yeah, glad their press release held some weight. :-(

[armywifey85]

You are lucky BOA was closing a lot of peoples accounts left and right for things that were on their credit reports before they applied for credit they were cleaning house before the new rules went into place in Feb.

http://www.cnn.com/2009/POLITICS/10/09/credit.card.outrage/index.html

[Tons_of_Debt]

Definitely thankful they didn't close it outright, just think it's somewhat shady the way they went about it. Especially since when I app'd for the CLI and they denied me, they told me they would leave the card alone and wouldn't change anything.