* First REAL Adverse Action - BofA SHUT DOWN !

[Anonymous]

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@Anonymous wrote:

thank you Yes-its-Me!!!!!  im fine

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So BOA were stabbing you in the back [closing your accout] and at the same complimenting you on how good of a job you have done handling your credit?  Talk about the irony of that... interesting..

You still have plenty of credit so it is a hard lesson learn..

[Anonymous]

thanks kdm -- should have heeded your words before but you live and you learn.  

Im really glad this can help some people out

[Anonymous]

Yes its-Me:  Yes i'm seeing a trend of lenders (BofA, Discover) having a mjaor issue with "AVAILABLE CREDIT" ... in other words, from their angle, if you have $120k in open credit to you, even with an income in 6 figures, you can charge that to the extent of $120k and just bolt if you so choose.  So that much credit/money available to you poses them a risk.  I can see all angles, really.  Even with super low UTIL, it is a risk to have $120k in open lines.

[kdm31091]

At some point lenders view open credit as being debt you can potentially rack up. This becomes more of an issue when you have inquiries piling up and new accounts, because it appears you are hungry and desperate for credit and may rack up far more than you can pay. The AA makes sense, as much as it can suck to have happen. Most general consumers have between one and three cards, so automatically you are standing out and it may not be in a good way.

[Appleman]

I am actually impressed with the custome service with BofA in this case.  This appears to be an incident that was flagged by computer (looked like the bad kind of spend, I understand it was not). The UWs had very little they could do, but they did talk to you like a real person and did their best to explain the rationale (even though it is backward from our vantage point).

Thank you taking the time to share your unfortunate news, I personally will tread lightly with my app spree cards....

[Anonymous]

That does stink and shows us to be careful with our overall exposure with lenders. Like kdm said, keep it modest and to only what you need.

[satasat360]

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@Anonymous wrote:

Yes its-Me:  Yes i'm seeing a trend of lenders (BofA, Discover) having a mjaor issue with "AVAILABLE CREDIT" ... in other words, from their angle, if you have $120k in open credit to you, even with an income in 6 figures, you can charge that to the extent of $120k and just bolt if you so choose.  So that much credit/money available to you poses them a risk.  I can see all angles, really.  Even with super low UTIL, it is a risk to have $120k in open lines.

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I'm sorry this has happened to you. But where do you see Discover is having major issue with available credit? I haven't seen that in the forums yet.

[Anonymous]

kdm is spot on -- thats exactly what she said.  

And yes, the account was flagged by the computer but CLOSED by an analyst.  That same analyst who closed it was a real b****, but her supervisor was amazingly kind.  AND INFORMATIVE!!!! And I agree, I had it coming -- as many here probably do lol.  I will update when the Asst VP calls me -- though at this point I am just gonna mosey on my way, garden forever lol and just live my life !!!!

[Anonymous]

satasat -- There were several posts last week or 2 about Discover closing accounts / CLDing for "too much available credit or new accounts" ... happened to my best friend last week too

[Anonymous]

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@Anonymous wrote:

kdm is spot on -- thats exactly what she said.  

And yes, the account was flagged by the computer but CLOSED by an analyst.  That same analyst who closed it was a real b****, but her supervisor was amazingly kind.  AND INFORMATIVE!!!! And I agree, I had it coming -- as many here probably do lol.  I will update when the Asst VP calls me -- though at this point I am just gonna mosey on my way, garden forever lol and just live my life !!!!

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Time to update that siggy and get it out of there.