@RockinRay wrote:
My wife and I both got a letter in yesterday's mail from BofA regarding our Signature Visa's... We both had a $15k line with them. Looks like they softed us on TU, and decided to close our accounts! Reason stated: 1. We currently have sufficient available credit. 2. We currently have sufficient debt. (?) Don't get this one. My TU as of letter date: 763 Wife TU as of letter date: 764 Of course I will call them on Monday to argue my case, I am just posting tis as a "heads up" that they are watching accounts!
Do you use the card regularly??? That really sucks i'm sorry to hear Ray.
Honestly, we got these cards in December, spent the $500 to get $250 cash back, PIF and threw them in the SD... 
We did plan to use them this year. A nice card to have. I think they should have CLD rather than close ou the accounts.
It is not a big deal to me as we do have more credit then we need. It is the principle. It should be a fun phone call!
@RockinRay wrote:Honestly, we got these cards in December, spent the $500 to get $250 cash back, PIF and threw them in the SD...
We did plan to use them this year. A nice card to have. I think they should have CLD rather than close ou the accounts.
It is not a big deal to me as we do have more credit then we need. It is the principle. It should be a fun phone call!
Wish I was a fly on the wall...............
Ugh, sounds like something Chase would do. BOA is shady. That's why I no longer bank with them.
@RockinRay wrote:
My wife and I both got a letter in yesterday's mail from BofA regarding our Signature Visa's... We both had a $15k line with them. Looks like they softed us on TU, and decided to close our accounts! Reason stated: 1. We currently have sufficient available credit. 2. We currently have sufficient debt. (?) Don't get this one. My TU as of letter date: 763 Wife TU as of letter date: 764 Of course I will call them on Monday to argue my case, I am just posting tis as a "heads up" that they are watching accounts!
Sorry to hear that. You know there should be a crackdown of 'bogus' reasons that CCC give people. Of course in thier fine prints Im pretty sure they specify that thay can close the account at any time.
How can a bank tell you you have "enough" credit?? If your paying your bills on time, have a solid history, and use their product why do they care?? It's like a slap in the face.
@RockinRay wrote:Honestly, we got these cards in December, spent the $500 to get $250 cash back, PIF and threw them in the SD...
We did plan to use them this year. A nice card to have. I think they should have CLD rather than close ou the accounts.
It is not a big deal to me as we do have more credit then we need. It is the principle. It should be a fun phone call!
This account is too new and makes one wonder if BOA is going around to see how much credit lne people have so they can safely shut them down. Its a liability for them so they must be anticipating a rough first quarter. Although looking at their latest earnings, they dint do bad.