Report Your "Credit limit Increases" Here!

[ColoNative]

Well not a cc increase but another letter from a Bank I deal with, about my debit card, letter was "sorry but we no longer can give you any rewards for our debit cards". This was an account I have with 5/3 Bank. This just seems never ending for the last couple of years. Don't know if any one else has gotten anything like this, Chase, US Bank, and USAA have kept their rewards programs.

You can thank Senator Durbin (D)-IL for that one. Because of his amendment to the Dodd-Frank bill the interchange allowed for debit transactions will fall from a high of $0.44 per swipe to a new high of $0.12 per swipe. Add that missing $0.32 times all debit card customers and the banks/credit unions are going to be hurting. This is in addition to the losses the banks are suffering from the loss of NSF fees. Most ignorant Americans think the banks/credit unions deserve this but in the end it will hurt all of us. Free checking might go away (even with direct deposit or combined assets), some banks may stop issuing debit cards or start to charge for them etc. Chase reinstated their debit rewards after initially stopping it based on the thought that the Durbin Amendment was going to be postponed; however, the banks lost that and on 7/21 the Durbin Amendment is expceted to become live.
The idea behind this amendment is that swipe fees were impacting businesses and therefore they were passing the interchange fee on to consumers. By lowering the interchange the belief is that the merchants will pass those savings on to consumers (yeah right). This is just part of Durbin Amendment-it goes further such as having merchants use two debit processors (so like Cirrus and Plus instead of just one or the other-and banks with assets over $10 billion have to be processed differently than banks with assets under $10 billion). Its a mess and not what our country needs right now. Hurting the banks will only hurt the citizens. I wish the politicians would instead focus on how FAT Americans are and how our education system is failing and how we can't control our borders etc.

[hjm331]

I agree with Colo. The banks are going to make us customers pay for the money that they used to make.

[stupac]

My Household Bank experience: Opened acct 11/05 with typical $300 limit. Finally received a $200 increase 4/10 and again in 9/10. Last week I called retention to ask for reduction in both annual fee and interest rates, both very high and was denied for both. Just checked online and got another $200 increase so my limit is now $900. Not too bad since my EQ score is only 615 because of 3 baddies in 2007.

Also I was approved for Walmart 4/11 for $600 which was a surprise.

[Wanderer]

My Household Bank experience: Opened acct 11/05 with typical $300 limit. Finally received a $200 increase 4/10 and again in 9/10. Last week I called retention to ask for reduction in both annual fee and interest rates, both very high and was denied for both. Just checked online and got another $200 increase so my limit is now $900. Not too bad since my EQ score is only 615 because of 3 baddies in 2007.

Also I was approved for Walmart 4/11 for $600 which was a surprise.

Nice work! Congrats on the Walmart. If you have not done a credit card review on the Walmart... it may help others if you do.

[kdb030609]

Just got my first CLI from B of A On my American Diabetes Visa Card. It was a AMEX Card when I first got it. Went from $2000 to $3000. They Started me off with good CL's but haven't offered a CLI before. Although they upgraded my first card with them at least three times since 2008. It's now a AMEX Accelerated Cash Rewards Card.

[Joeyman]

Just got my first CLI from B of A On my American Diabetes Visa Card. It was a AMEX Card when I first got it. Went from $2000 to $3000. They Started me off with good CL's but haven't offered a CLI before. Although they upgraded my first card with them at least three times since 2008. It's now a AMEX Accelerated Cash Rewards Card.

Congrats! How are you liking the new Accelerated Cash Rewards version?

[kdb030609]

Congrats! How are you liking the new Accelerated Cash Rewards version?

The card used to be a Visa Signature Card with Worldpoints. Before I took the upgrade I asked them about the rewards. So far it seems to be good. They even converted my unused Worldpoints into cash rewards. Which to my understanding I can cash in at any amount. You gotta love that.
I think Colonative got the same offer on the same card. I don't know if he decided to go with it. Is there any other B of A customers on here experiencing any sort of product upgrade ?

[Joeyman]

The card used to be a Visa Signature Card with Worldpoints. Before I took the upgrade I asked them about the rewards. So far it seems to be good. They even converted my unused Worldpoints into cash rewards. Which to my understanding I can cash in at any amount. You gotta love that.
I think Colonative got the same offer on the same card. I don't know if he decided to go with it. Is there any other B of A customers on here experiencing any sort of product upgrade ?

Awhile back I used to want this card... I refuse to use BoA now though. In your case I don't mean to judge, because you already have the account, so it is definitely worth keeping.

[wmarat]

BofA's Amex 25000 --> 30000
Amex Blue 25000 --> 30000
Lake Michigan Visa 5000-->10000
Citi CR MC 18150-->18900

[Joeyman]

BofA's Amex 25000 --> 30000
Amex Blue 25000 --> 30000
Lake Michigan Visa 5000-->10000
Citi CR MC 18150-->18900

Congrats!

[hammer23]

Opened Walmart 3/2011 with a $300 balance... Was increased to $700 on 7.13.2011.

[rsty99]

Well USAA just changed their debit rewards, no more, just got the letter today. They decided to not change the free ATM use and free checking.

[Wanderer]

Thanks for the alert on USAA Federal Savings Bank FSB eliminating their Debit Card Rewards. I was not aware. Did receive awards for July 2011. Called them and they confirmed yesterday that during July 2011 they would eliminate all rewards programs for their Mastercard Debit program. Reason, new rules on slide fees restricted to a max of $0.21 cents per slide. In my case not a big deal as I receive more rewards using my USAA Credit Cards. For those liking debit cards however, it will be a change.

[Joeyman]

American Express Blue Cash from $1,800 to $5,000 per my request!

OMFG!


Dude, I am shaking right now. I never thought they would actually approve the $5k... maybe a counteroffer or something?!?!?!?!??!?! I believe it was a soft pull but if they used a hardpull well worth it. :D!

[Joeyman]

Wtf, now I am getting all these Pre-approval banners on the Amex website. LOL!!! Maybe it was turning 21? I am officially an adult. Woot.


Pre-approved for the Amex Plum for small business.