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BOA Credit Card - Credit Limit Decrease

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Red1Blue
Super Contributor

BOA Credit Card - Credit Limit Decrease

I have been a BOA customer for more than 17 years. Recently I had finanancially problems and fell behind the payments of many account. I have BOA credit card. I am worried if I reduce the balance substantially and start using the blance I am afriad they are going to do CLD each time I pay off the out standing balance. Should I take chances and start paying off the account and take chances with the CLD or should I keep paying small every month and keep using it? Interest is costing me every month. Not sure what is the best approach. To keep the card with 17 years history with low limit ? Or keep paying it small every month ?

Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: BOA Credit Card - Credit Limit Decrease

Stop paying interest first, worry about everything else second.

Message 2 of 3
FireMedic1
Community Leader
Mega Contributor

Re: BOA Credit Card - Credit Limit Decrease

Pay it down as fast as possible to show good faith. If they are going to balance chase there's really nothing you can do. It may stop at a certain CL or all the way down to closure. Like the poster above said. Interest is like throwing $ out the window. Stop the bleeding now.


Message 3 of 3
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