How many min payments will get you red-flagged?

[tcbofade]

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@Anonymous wrote:

I don't believe the banks look at your minimum payments to close the account per se.

They evaluate your acceleration of debt.  If you are near max on all your cards and only paying the minimum, you can pretty much except some kind of AA in a few months...whether it be the lowering of that nice 20,000 CL or closing of your account

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OK.

Not sure if it matters, but ONLY BofA took adverse action against me, and it was a 3.5k card that they closed.

None of our other CC's took any action against us....well, yet anyway....we've got another 45 days to go or so....

[Anonymous]

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@tcbofade wrote:

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@Anonymous wrote:

I don't believe the banks look at your minimum payments to close the account per se.

They evaluate your acceleration of debt.  If you are near max on all your cards and only paying the minimum, you can pretty much except some kind of AA in a few months...whether it be the lowering of that nice 20,000 CL or closing of your account

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OK.

Not sure if it matters, but ONLY BofA took adverse action against me, and it was a 3.5k card that they closed.

None of our other CC's took any action against us....well, yet anyway....we've got another 45 days to go or so....

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Funny you mention that.  I recall someone else on this board posting an article on CreditCards.com that mentions BofA preemptively reaching out to consumers that make minimum payments consecutively for X months.  Only it was under the context of "we're here to help if you're having trouble with growing debt", as opposed to "we're gonna AA the s#$% out of you"

[tcbofade]

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@Anonymous wrote:

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@tcbofade wrote:

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@Anonymous wrote:

I don't believe the banks look at your minimum payments to close the account per se.

They evaluate your acceleration of debt.  If you are near max on all your cards and only paying the minimum, you can pretty much except some kind of AA in a few months...whether it be the lowering of that nice 20,000 CL or closing of your account

---

OK.

Not sure if it matters, but ONLY BofA took adverse action against me, and it was a 3.5k card that they closed.

None of our other CC's took any action against us....well, yet anyway....we've got another 45 days to go or so....

---

Funny you mention that.  I recall someone else on this board posting an article on CreditCards.com that mentions BofA preemptively reaching out to consumers that make minimum payments consecutively for X months.  Only it was under the context of "we're here to help if you're having trouble with growing debt", as opposed to "we're gonna AA the s#$% out of you"

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Yeah well, as I mentioned, I was pretty unhappy at the time, but we've got plenty of other cards, so it was more insulting and inconvienent than anything else...

Our debt is still accelerated....and acceleratING! and will be for the duration of 2014.  

2015 will be a better year for us financially.  Just gotta get TO it....

[Anonymous]

If you're worried about minimium payments flagging, then don't make minimum payments. Instead, do minimum + $1 or something trivial that makes it so you paid off more than the minimum, but you aren't really diverting money from clearing the high APR cards.