BoA reduce my CL with the reason. What should I do?

[Anonymous]

I had a credit limit of 5K and they reduced the limited to 4K.  They did this without informing of this by mail or by phone.  I always paid on time. never late. They informed me that I had a collection on my credit report.  I informed them that this is not my account, and equifax has identified fraudulent activities and a police report has also been made.  No luck so far to reverse their decision.  I going to write to AG and President. This is unfair!

[DI]

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@Anonymous wrote:
I had a credit limit of 5K and they reduced the limited to 4K.  They did this without informing of this by mail or by phone.  I always paid on time. never late. They informed me that I had a collection on my credit report.  I informed them that this is not my account, and equifax has identified fraudulent activities and a police report has also been made.  No luck so far to reverse their decision.  I going to write to AG and President. This is unfair!

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Sorry that happened to you.  Before sending a letter to the AG and perhaps the POTUS, wait until the fraudulent tradeline is deleted.  If BOA reduced your CL for that reason only, I don't see any problems of having a reversal worked out directly with BOA.  

Message Edited by DI on 10-08-2009 05:29 AM

[Tons_of_Debt]

Sorry to hear. :-(

[Anonymous]

how did you inform them?

you need to mail them some type of letter and attached EQ 'identification of fraudulent activity'

[Anonymous]

Thks for answering.  I was in BoA local branch trying to get cash advance when they informed me my CL was deleted.  This cause a chain of bounced checks that I may never recover from.I will wait until the court inform them that this is not my CA.  It just upset me when you try to do your best and pay your bills on time and to have someone else mess up your credit.

[Anonymous]

I'd fix it, and do business elsewhere.

I would not be banking with them that is for sure.

Diversity is where it is at!

Try a Credit Union...

[Anonymous]

All you can do is keep asking. In June I went to pay for a pizza with my BOA credit card, it came back not authorized. So I tried my other BOA card, again not authorized. Anyway, without notice they CLOSED both my accounts, (total credit limit was $5500.00), reason given was A> I owed too much on other credit cards, B> I had too many inquiries (all were on the same day in February and related to a car loan). Anyway, I have tried 3 times now to get them to reopen one of the cards and they won't budge. I paid down most of my balances and now am at about 20% utility (including a lot on the one BOA which is carrying a 0% BT).  Most of what I owe is on these two cards and I am currently paying about 3-4 times the minimum and hopefully will have them totally paid off within 6 months or so.

So, I guess just keep trying with them, probably best to call than to write (imo).

[Anonymous]

You could always consider filing a complaint with the Comptroller of the Currency:

     http://www.helpwithmybank.gov/