Bank of America closed my card account :(

[westo12]

Here's a story for ya, I've been a BofA cc holder since 6/08.  I called BOFA to order a new card (old one was 2+ years old and really scratched).  They said no prob, they would priority ship one to me, it would go out in the mail the next business day.  

Fast forward to a week later, no card received.  Being concerned that my downstairs neighbor may have stolen my mail again, I call BofA to confirm it was shipped.  They tell me it hadn't, say they haven't done a credit review on my account in a while and ask all kinds of normal questions, which I answer.  They then tell me card will go out in one more business day, but FIRST, I have to be transferred to another department.  

I get transferred, where the rep tells me, very promptly I might add, that he can't send me a card and is in fact closing my account.  I'm shocked since in the last 3+ years, I've never been late on a payment but am currently at 70% util .  So I ask why?  He then proceeds to tell me I have 4 medical collections that are of concern, 6+ year old accounts that were ON the original report (and more recent back then!) when they gave me the card to begin with.  I also, explain that out of these 4 accounts, 2 are aging off at the end of this month, 1 at end of March and the other at the end of June.  This makes no sense to me, so I ask to be escalated.  "Manager" tells me the collection accounts are a concern, but a late on my auto in Sep 2011 is more "alarming".  

Long story short, they don't budge.  So now I'm sort of (not really) freaked out about what this means.  They tell me when these credit issues go away, I can always call back to ask them to review the account, but I doubt I want to do business with them in the future.  What does this mean to my credit score, will the limit go away and now my util will be off the charts and tank my already horrible credit score?? 

I thought about trying to open a secured credit card and then transfer the entire amount to a new card, but I don't want my AAoA to tank either!  Any ideas, anyone??

[mxp114]

What was your CL? Did you try to ask if they can keep the card open at a smaller limit? I would fight to retain a three year card. And what do you mean by 6+ year old accounts? Six accounts that have 12 months or several accounts that are six years or longer? Confused :?

[FloridaState12]

Wow, another one bites the dust.

It seems anyone who has anything suspect on their report or with their account (like high util) to NEVER come into contact with BoA until those issues are resolved. You're not the first one who's had something like this happen...seems like they're taking a good hard look at anyone who calls them now.

[westo12]

CL was $3k. No, I did not ask to keep the card at a smaller limit, didn't think of that.  I did fight, went through 3 people, last woman was really "nice".  The 6+ year old accounts were medical collections from when I had my son (who is almost 7 years old now), a couple were reporting that they were added within the last 2 years, which I've seen CA's do when they know the debt is about to expire and fall off the report, as these two are going to be removed on 3/1/12.  

[westo12]

Florida, no DOUBT.  I just wish someone would have told me that BEFORE I called lol.  

[westo12]

As far as fighting anymore or calling back to see if they'd reopen, I figured I'd wait until those two accounts fell off at the end of this month and also make an additional payment on the card to bring that util back down to under 50%.  See if that helped. :/  

[Ron1]

Sorry to hear . BofA is  a good bank to deal with. I saw people getting their accounts closed within these months.  You haven't missed a thing. Time to move on.  They don't deserve your business.

Ron.

[Ron1]

---

@westo12 wrote:

As far as fighting anymore or calling back to see if they'd reopen, I figured I'd wait until those two accounts fell off at the end of this month and also make an additional payment on the card to bring that util back down to under 50%.  See if that helped. :/  

---

Good luck. You will be transferring to credit analyst and those people aren't nice. You will be grilled. Why do you want them to re-open?

Ron.

[westo12]

Ron, I hear what you are saying.  I guess because for the last few years I had no problems with them.  It also was my largest limit cc, unfortunately still in rebuilding mode, so now I'm bummed about that.  I will no longer have a card that I can travel with you know.  Not enough limit on my other two to do that.  :/  I'm not worried about being grilled.  I'm not entirely in a bad position financially, just not liquid enough to pay it in full right now.

[Ron1]

Sorry to hear.  It happened to me three years ago. I owed almost $40K on all my BofA accounts. They CLD, closed most of my BofA credit card accounts. I had some good CL. They reduced to $1K  each and they closed it when I paid it off.  You really don't want them back. Nothing but headache.  Do you have another card for traveling?  Have you thought about Amex?  Amex helped me a lot during travel.  How's your credit history?

Ron.