BoA Closed Both of my Cards!

[Anonymous]

I find it pretty..........Suspicious.

[Anonymous]

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@Anonymous wrote:

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@Luscher wrote:
The only reason your score would have dropped 100 points is if util sky rocketed or you have a new baddie reported. The closing of 2 cards will not drop your score since they will continue to report for up to 10 years. Call BOA tomorrow and pull your reports to see if they are reporting something bad.

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Extending on this, does no one else find it very strange that the OP's score dropped 100 points just by the closing of two TLs totalling $9.5K out of their total 46K?

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Well, don't know if a 100 points is reasonable or not, but the closed cards are really maxed out (with a CL of 0) and total CL goes down by ~ 25% with the same balance, so overall utilization can indeed skyrocket.

And, even if the OP is making the entire thing up, so what?  Just ignore rather than make insinuations.

[Kenny]

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@Anonymous wrote:

Yes I did have the cards close to maxed, but I was still in my 0% APR period and was going to make a large chunk of change towards it when the promotion was over. The reason for 100 point drop is clear! They closed my accounts and FICO is viewing them differently somehow. Just not sure how they are scored. I think I read somwhere that it considers them 100% maxed if they are closed. It also probably hit my AAoA as well.

I've read a lot of threads where they won't seem to budge on reopening accounts like this. Part of me wants to call them and let them know I have the cash in the bank to pay, but if they want to be like that, I'll keep my business with NFCU.

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People think that just because there is 0% APR on the card the issuer doesn't mind if you max it out and pay only the minimum. Absolutely not.. the contrary they don't want you to do that and it's a sure-fire way to get your accounts closed. If you can get these opened and make some larger payments that's the way to go-- if you can't, then I sincerely hope you've learned a valuable lesson.

[Kenny]

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@Anonymous wrote:

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@Anonymous wrote:

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@Luscher wrote:
The only reason your score would have dropped 100 points is if util sky rocketed or you have a new baddie reported. The closing of 2 cards will not drop your score since they will continue to report for up to 10 years. Call BOA tomorrow and pull your reports to see if they are reporting something bad.

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Extending on this, does no one else find it very strange that the OP's score dropped 100 points just by the closing of two TLs totalling $9.5K out of their total 46K?

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Well, don't know if a 100 points is reasonable or not, but the closed cards are really maxed out (with a CL of 0) and total CL goes down by ~ 25% with the same balance, so overall utilization can indeed skyrocket.

And, even if the OP is making the entire thing up, so what?  Just ignore rather than make insinuations.

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Exactly. Why do we always go to the base level of not believing what someone has said? There should be no reason they should lie. (Yes, there are trolls in this world, but we shouldn't treat everyone as how we treat the trolls.)

[Anonymous]

With the current economic climate, This is no big surprise.

[taxi818]

It appeared everyone who replied did believe op. It's just hRd core. I don't remember anyone accusing him/ her of trolling. Geez 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Luscher wrote:
The only reason your score would have dropped 100 points is if util sky rocketed or you have a new baddie reported. The closing of 2 cards will not drop your score since they will continue to report for up to 10 years. Call BOA tomorrow and pull your reports to see if they are reporting something bad.

---

Extending on this, does no one else find it very strange that the OP's score dropped 100 points just by the closing of two TLs totalling $9.5K out of their total 46K?

---

Well, don't know if a 100 points is reasonable or not, but the closed cards are really maxed out (with a CL of 0) and total CL goes down by ~ 25% with the same balance, so overall utilization can indeed skyrocket.

And, even if the OP is making the entire thing up, so what?  Just ignore rather than make insinuations.

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Never insinuated the OP made anything up. Didn't even cross my mind actually, so apologies for you reading that between the lines there.

What I am suggesting though is there may be more to the story that the OP hasn't shared or maybe isn't comfortable sharing (which is fine). Anecdotes like these (and really every other post on these types of forums) get used as data points though, so it's nice to get as much info and context as possible. That's all. I'm not one to give anyone a hard time about anything.

[tcbofade]

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@Kenny wrote:

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@Anonymous wrote:

Yes I did have the cards close to maxed, but I was still in my 0% APR period and was going to make a large chunk of change towards it when the promotion was over. The reason for 100 point drop is clear! They closed my accounts and FICO is viewing them differently somehow. Just not sure how they are scored. I think I read somwhere that it considers them 100% maxed if they are closed. It also probably hit my AAoA as well.

I've read a lot of threads where they won't seem to budge on reopening accounts like this. Part of me wants to call them and let them know I have the cash in the bank to pay, but if they want to be like that, I'll keep my business with NFCU.

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People think that just because there is 0% APR on the card the issuer doesn't mind if you max it out and pay only the minimum. Absolutely not.. the contrary they don't want you to do that and it's a sure-fire way to get your accounts closed. If you can get these opened and make some larger payments that's the way to go-- if you can't, then I sincerely hope you've learned a valuable lesson.

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Bof A did this to me as well.

I opened a 123 card with zero percent, and put several BT's on it....never hit 80% util on the card, but when they closed it, I called them, and the CSR told me that taking advantage of the zero percent offer caused them to be concerned and they chose to close the account.

They honored my 12 months no interest intro deal, and I paid in full during month eleven...and now have NO relationship with Bank of America and am perfectly OK with that.

[ilovelisa]

You should just call and find out why. Then you won't have to wonder why it happened.