BofA allowed over 'limit'

[Anonymous]

BofA creidt card with a limit of $11,000.

They allowed me to charge uyp to $16,000 without any notification / then blocked further charges.

So now my credit report show usage over the limit.

I called and asked that my limit be increased to my limit. They said they allow you to go over but I can request an increase. So, I requested an increase to $16,000. 

I just got a letter denying the increase because, "Overlimit Activity" and "Proportion of balances to credit on bank/national revolving or other revolving accounts is too high."

They ALLOWED this to happen and are now using it as an excuse. Seems blatantly unfair.

Is there anything I can do about this? How do I get my LIMIT raised to my LIMIT?

[Jnbmom]

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@Anonymous wrote:

BofA creidt card with a limit of $11,000.

They allowed me to charge uyp to $16,000 without any notification / then blocked further charges.

So now my credit report show usage over the limit.

I called and asked that my limit be increased to my limit. They said they allow you to go over but I can request an increase. So, I requested an increase to $16,000. 

I just got a letter denying the increase because, "Overlimit Activity" and "Proportion of balances to credit on bank/national revolving or other revolving accounts is too high."

They ALLOWED this to happen and are now using it as an excuse. Seems blatantly unfair.

Is there anything I can do about this? How do I get my LIMIT raised to my LIMIT?

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Why didn't you wait until you requested the CLI first? I don't know why they allowed it, but I would never go over my limit for a purchase exceeding 5000. 

[thornback]

Have you read your cardmember agreement with regards to going over your credit limit? If not, you probaly should.

The generic BOA contract states that if you attempt to charge over your limit, they may do one of the following:
(1) permit the transaction without raising your credit line;
(2) permit the transaction and treat the amount of the transaction
that is more than the credit line as immediately due; or
(3) refuse to permit the transaction.

#1, and possibly #2 seem to apply to you.

Are you prepared to pay the portion of the balance that is over the limit? You should always check the agreement before attempting such things. Your specific agreement may state something slightly different than the generic version, so i suggest you read it -- being upset that they won't grant a CLI after the fact seems a bit wrongheaded, IMO - $16K is not "your limit" it is, your balance. They simply extended you a courtesy by allowing you to exceed your $11K limit.

[Anonymous]

My bad - I meant to temporarily move a recurring charge to this card. Didn't monitor. Didn't change back. So they allowed 10 X $500 charges over about 6 weeks. Inadvertant but I get it. Just seems if they are not demanding immediate payment that my cedit report should not show as over 'limit'. 

[thornback]

But... you are over the limit... so of course it will be reported that way.

So if they're not demanding immediate payment then #1 applies to you.... It's a courtesy, take it as such.

If you don't want / like this feature, you can contact BOA and request they place a hard limit in your account so any charges over your limit will immediately be declined.

[Anonymous]

but your limit is 11K and you owe 16K right?  by definition you are OVER LIMIT

AND..... who doesn't notice 5K in charges or spends 11K and forgets about it?

[Anonymous]

By definition my limit is not my limit.

Never mind.

[Jnbmom]

OP
Well hopefully you can pay it down to get back under your limit.

Lesson learned with them.

Good luck