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Overlimit and BOA still approving charges ??

Valued Contributor

Re: Overlimit and BOA still approving charges ??

when i got my first bofa cc for first time i maxed it and  has two very small transactions over the limit and was charge 35 for each. that was back in 2009

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Message 21 of 23
Established Contributor

Re: Overlimit and BOA still approving charges ??

I have the other side of experience


I have $80 balance on a 5K boa 1-2-3 card, went to an out of state Walmart this afternoon, made 200 charge, been declined.


Called CSR, transfered to authorization dept, speak to "George", he assure me everything will be fine.


5 minutes late, I been declined again. using my freedom, went through without problem.


Hate BOA



EX817:1[21] TU850:0 EQ(Fico8BC)879:0
Message 22 of 23
Valued Contributor

Re: Overlimit and BOA still approving charges ??

I have a very different take.


1. The op is a pif customer and run the balance near or above the max CL.

2. Because of this history the bank knows you have the discretionary income to carry a much larger balance if you so wished.

3. As a pif customer the bank only makes money on swipe fees. (OL fees are largely artifacts of pre CARD act banking)

4. Letting you go over the limit allows them to make more money on swipe fees.

5. The bank has a lower risk of ticking off a customer by lowering a CL should your credit report and spending suggest stress. They can just start enforcing the CL.


So it seems to me BofA is being quite astute.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Message 23 of 23