BOA closed all my credit cards, any way to reinstate?

[Jnbmom]

Sorry this happened.  I agree with other member there may have been other factors as well, unless closing your other cards put your overall utilization  way higher. I mean I have taken advantage of BT offers where that card had a very high utilization,  but my overall stayed relatively low so i didn't get a major score drop. 

[Anonymous]

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@Anonymous wrote:

Hi,

I just found BOA closed all my credit cards. I guess the main reason is the sudden drop of my credit score. What happened is I applied a new amex card while already having 5 cards, called and told have to close one, did it and transfered all credit to new card. The problem was, I did not pay this card yet. In just a few days, my credit report show this card as 100% utilization rate, since the credit limit was zero on this card, and my EX droped ~70 points!

I hope the above would be helpful to those considering closing credit cards and moving credit limit: either pay it off before bank report new balance, or not moving away all credit limit.

I tried to call BOA but it seems there is nother they can do at this point. Now my question it, if my credit score got back next month, is there anyway to reinstate these closed cards? 

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Do you need the cards.  Just open new B of A cards once your score pops back up and get a bonus for doing it. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Hi,

I just found BOA closed all my credit cards. I guess the main reason is the sudden drop of my credit score. What happened is I applied a new amex card while already having 5 cards, called and told have to close one, did it and transfered all credit to new card. The problem was, I did not pay this card yet. In just a few days, my credit report show this card as 100% utilization rate, since the credit limit was zero on this card, and my EX droped ~70 points!

I hope the above would be helpful to those considering closing credit cards and moving credit limit: either pay it off before bank report new balance, or not moving away all credit limit.

I tried to call BOA but it seems there is nother they can do at this point. Now my question it, if my credit score got back next month, is there anyway to reinstate these closed cards? 

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Do you need the cards.  Just open new B of A cards once your score pops back up and get a bonus for doing it. 

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I could be wrong but if your cards were closed for AA, I doubt it’s going to be that simple to get them back in the future. 

[AverageJoesCredit]

My question is who told you have to close a card to get a card? That sounds ridiculous.

[kugel]

Oh don’t waste your time it’s a tradition with bofa they love doing it
They will not reopen it they love doing it for people

[FinStar]

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@kugel wrote:
Oh don’t waste your time it’s a tradition with bofa they love doing it
They will not reopen it they love doing it for people

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@kugel - I'd venture to think that BoA hardly puts any "love" in taking such adverse action.  At the end of the day, plenty of institutions do this plus you've been around the forums to know that BoA isn't the only lender.   While it may be an unpleasant experience for an individual, it's a risk assessment and business decision, no "love" involved.

[mitchblue]

Don't they give you a warning that a card should be paid off before closing? Tough break.. 

[NRB525]

There is no reason for a bank to care if a balance is on a card being closed. The bank is reducing risk, expects to be paid by the borrower.