@Anonymous wrote:Let me begin by saying this is a hard thread to write -- and I want to preface this by saying that I am very sorry that I did not listen to some of you with the (albeit sometimes abrupt) sound advice you had to offer me during my app sprees. I do regret not listening to those who are far more seasoned than myself, and have backed off quite a bit in apping after my success with PenFed. THAT SAID, the only reason I'm posting this is because a fellow poster, CreditAddict, posted an almost IDENTICAL post a week ago, and I want this to be a data point and lesson for many others who exhibit simialr behavior.
My card with BofA was opened in November with a TU score of about 675-680, as the ALASKA AIR Card $2000 limit -- bumped to $5,000 after 2 months. In March, I wanted to see if I could get this card changed to CASH REWARDS, and was contacted by an Underwriter Superviosr who approved the change, which she stated at the time was "due to my excellent payment history with BofA, and credit report" .. odd looking back that 60 days later they nix me. The card did not change until 5/1, and on 5/2, I go to log in and get the dreaded message "You have no open accounts" ! I instantly knew after reading Creditaddict's post -- and low and behold, I call in, SAME EXACT REASON -- Too much available credit and inquiries. The analyst offered to put me in for a reopen, but stated it would be a HP -- I said no way. You're complaining about my INQs and you want to add another? Pound sand, lady. I must say the logic of these lenders makes very little sense to me, and seems very counterproductive, but I digress. I requested a Senior UW, who stated "You do have FANTASTIC payment history with us, and I see you always pay your account in full and your overall credit picture is very good (according to her SP score pulled - get this - 709), however due to the very large amount of available credit to you, the account was closed." I am waiting on a call from the Asst VP in UW, but not holding my breath and to be honest -- I'm not all that upset. I engaged in risky behavior, and now I see what can happen. I do not necessarily AGREE with the decision, but I do not work in risk based finances, so there's that.
Now, I will say that my overall UTIL (which she complimented too) is now at 7%-8% overall, my overall avaialble credit is about $120,000, & my balances TOTAL are just a tad under $8k after some paydowns. She also said that at any time after I "lessen my available credit to me" I can call her (gave direct # !!) and she will look at my account for a reinstatement given my history with them and credit being inherently good. She ALSO SAID -- and here is the real driving point for you app-spreeers - that what triggered my review was SUDDENLY charging & paying off my large balance! Normally on my BofA card, I dont charge a lot as it is -- because I was not getting the cash rewards yet -- but this past month I put a large charge on it of ~$4000 for tickets and hotel since my partner flies Alaska, and paid it off within billing cycle. BOOM. Account Review. She blatantly told me that is a red flag for BofA, and it sent my account for review. Nothing more; infact, she said that my UTIL is considered "excellent" ?
@Anonymous's one thing that really lights my fire though -- You can close my account on May 2 using a SP, but you want to ADD a HP the SAME DAY to reopen my account, and further damage my credit in the INQ Section at least ?? Absolutely ridciulous. Beyond, infact. So @Anonymous backwards, but it is what it is. Even she said "I see where that can be odd to a consumer". She was actually quite nice, so I had a hard time really copping a 'tude with her which lets be honest, I can sometimes do
Now, With all that said, I am taking a long break from the forums after this post -- especially the APPROVALS section. It can be very educational and amazingly informative, but also destructive for certain personality types. I have ALLLLLLL the credit I need, and can truthfully say I'm done for a very long time (to note, I havent had an INQ in about a month as it is). I wish all of you the absolute best in your journey, and hope that someone can learn from this experience. It sure as heck is not the end of the world, I'm not the first to go through it and I will not be the last, and life sure goes on wtihout BofA in my wallet
Thank you all again! :-)
Unfortunately, the newness of credit, and your scores, played into their decision (mathematics is my forte, figuring out algorithms is fun). If you had been 780 or higher, and not had so much new credit (their method of saying too many inquiries), this would not have been such an issue. Even with my AAoA under two years, and two new cards, plus several inquiries, my highest, TU, only dropped from 805 to 794. Give it six months to get back up (helps that one of the cards is a hidden trade line 
). Let your scores get higher Joe, and the world shall be yours. 
. Also, try to keep a card for a year BEFORE asking to PC (just my humble opinion).
@Anonymous wrote:Thanks Discover -- like i said, second post in a week with EXACT same reasoning -- similar ot the sweep of Discover a few weeks ago which my friend's account was yanked suddenly. Lenders are perhaps tightening up across the board
Yes they are. I noticed this awhile back.. It will be more prevalent with the major banks, but even comenity is doing the AA. IF you pay attention to economic news related to investing, the financials have recently took a hit. It does not matter if they made profits (Amex reported a good quarter), good stocks in a sector go down when the rest go down (I know, have selected some really good ones, should have cashed one out, short term, it just went down with the rest in the sector 
).
I appreciate your openness, sometimes hard to admit we did things in the heat of forum excitement.
@myjourney wrote:I invite you to stick around and join the GC
Double the sentiment. . I like to give back to the community. Many in the rebuilding forum need help on how to climb the ladder. This is GREAT experience to pass on.
@Anonymous wrote:
@Anonymous wrote:
Does KDM do hair ?Yes.. I think as a hobby though..
Uh, no. But maybe he should get promoted to upper level management in his current field. I think I would rather do my own hair (cutting, coloring, not easy when your movement disorder does not even allow you to apply mascara, shaking head, shoulders, arm, to go along with ruptured disc in neck, that they can not fix because of disorder). Ah, I think I am starting to babble on. Still appreciate KDM .
@Anonymous wrote:Let me begin by saying this is a hard thread to write -- and I want to preface this by saying that I am very sorry that I did not listen to some of you with the (albeit sometimes abrupt) sound advice you had to offer me during my app sprees. I do regret not listening to those who are far more seasoned than myself, and have backed off quite a bit in apping after my success with PenFed. THAT SAID, the only reason I'm posting this is because a fellow poster, CreditAddict, posted an almost IDENTICAL post a week ago, and I want this to be a data point and lesson for many others who exhibit simialr behavior.
My card with BofA was opened in November with a TU score of about 675-680, as the ALASKA AIR Card $2000 limit -- bumped to $5,000 after 2 months. In March, I wanted to see if I could get this card changed to CASH REWARDS, and was contacted by an Underwriter Superviosr who approved the change, which she stated at the time was "due to my excellent payment history with BofA, and credit report" .. odd looking back that 60 days later they nix me. The card did not change until 5/1, and on 5/2, I go to log in and get the dreaded message "You have no open accounts" ! I instantly knew after reading Creditaddict's post -- and low and behold, I call in, SAME EXACT REASON -- Too much available credit and inquiries. The analyst offered to put me in for a reopen, but stated it would be a HP -- I said no way. You're complaining about my INQs and you want to add another? Pound sand, lady. I must say the logic of these lenders makes very little sense to me, and seems very counterproductive, but I digress. I requested a Senior UW, who stated "You do have FANTASTIC payment history with us, and I see you always pay your account in full and your overall credit picture is very good (according to her SP score pulled - get this - 709), however due to the very large amount of available credit to you, the account was closed." I am waiting on a call from the Asst VP in UW, but not holding my breath and to be honest -- I'm not all that upset. I engaged in risky behavior, and now I see what can happen. I do not necessarily AGREE with the decision, but I do not work in risk based finances, so there's that.
Now, I will say that my overall UTIL (which she complimented too) is now at 7%-8% overall, my overall avaialble credit is about $120,000, & my balances TOTAL are just a tad under $8k after some paydowns. She also said that at any time after I "lessen my available credit to me" I can call her (gave direct # !!) and she will look at my account for a reinstatement given my history with them and credit being inherently good. She ALSO SAID -- and here is the real driving point for you app-spreeers - that what triggered my review was SUDDENLY charging & paying off my large balance! Normally on my BofA card, I dont charge a lot as it is -- because I was not getting the cash rewards yet -- but this past month I put a large charge on it of ~$4000 for tickets and hotel since my partner flies Alaska, and paid it off within billing cycle. BOOM. Account Review. She blatantly told me that is a red flag for BofA, and it sent my account for review. Nothing more; infact, she said that my UTIL is considered "excellent" ?
@Anonymous's one thing that really lights my fire though -- You can close my account on May 2 using a SP, but you want to ADD a HP the SAME DAY to reopen my account, and further damage my credit in the INQ Section at least ?? Absolutely ridciulous. Beyond, infact. So @Anonymous backwards, but it is what it is. Even she said "I see where that can be odd to a consumer". She was actually quite nice, so I had a hard time really copping a 'tude with her which lets be honest, I can sometimes do
Now, With all that said, I am taking a long break from the forums after this post -- especially the APPROVALS section. It can be very educational and amazingly informative, but also destructive for certain personality types. I have ALLLLLLL the credit I need, and can truthfully say I'm done for a very long time (to note, I havent had an INQ in about a month as it is). I wish all of you the absolute best in your journey, and hope that someone can learn from this experience. It sure as heck is not the end of the world, I'm not the first to go through it and I will not be the last, and life sure goes on wtihout BofA in my wallet
Thank you all again! :-)
Personally I don't see that you did anything wrong.
Seems to me that BOA was nuts.
Glad I don't do business with them. I think I'll keep it that way.
