@MagicShot wrote:
@MagicShot wrote:
@RockinRay wrote:
@stan_the_man wrote:
@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!OP, did you recently have an trade lines show up on your report in between the app and the AA?
Just one, Walmart Discover. I just checked and we did open 17 new tradelines in 2011. I am sure that is what spooked them. Heck, I would be spooked too!
Oh well....
17 is a lot. I open a total of 15 last year and BOA, Closed 1 of my account and CLD me to 500 & 600 on my other 2 cards with them. But, I had a solid history before, experience managing a lot of accounts, and my UTL was below 10%. So I called the BOA Backdoor number and talked with their credit analyst about my lines, and the only real question they had was on my HELOC was they needed to know if it was secured or not, aparantly it makes a difference to them if HELOC is secured or unsecured because of the amounts and how they calculate risk.
Oh I forgot to mention, When I called them they asked to pull a new report if I was interested in restoring my accounts. I said yes. they asked me some of the questions above and All of my accounts were reopened and resotred!
Good to know! I should also mention that 3 of the tradelines were for new car leases - yes we lease... Still high at 14 though. So, I am going to stay put in the garden. I really "do not" need their card although I do like their rewards.
I am going to let me Amex BCE be the heavy hitter this year and use my Chase Freedom for backup.
Funny, I just got a pre-approval from B of A in the mail yesterday for the 1-2-3 card... 
