"Did Not Expect This"

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Written by: alit123 on 2009-01-24

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alit123's review: Callout Comment I have this card for a year now with a 9k limit. 4 months ago I needed some money for my business. So out of all my cards I chose this one to borrow from. I took out 8k. I made a little more than the minimum amount every month. A week ago I finally had some extra money so I went online and paid it in full. I owe nothing to any other card and scores are 750+. Today I go online and I see that my credit limit went from 9k to 2k. I said what?. It cant be. I called them and they said that there was an unusual pattern in your usage which led to this. Unusual... Why didn't you say something when I took out the $8000. It should been decreased then. But when I paid it back there should be no point to decrease it. I paid interest for 4 months and now when I paid it in full you guys cant make money from me so you decreased the limit. That's messed up. I loved this bank. I have 2 cards and a checking account... Since they done this I wont close any accounts but move my business to Citibank. Never depositing a single penny in Bank of America again... Do you guys think I should close this credit card account or no?


Comment 1 by colonative
Yikes User Icon on 2009-01-25

Remarks This is the economy again... And now BofA is doing CLD's?

I would call them or write them for a recon now that you have paid it in full. Maybe let them know that if they do not give you an increase you will be taking not only your credit card business, but also your deposit business with you.

Also, this is not really a "review" so this posting will likely be removed in a few days. You should aks this question in the credit card forum; there are more people there to answer questions and I bet you will find it helpful; please ask your question here:


Good luck and let us know what you decide with BofA; they are a great bank otherwise, I would really try the recon now that you have paid in full.
Comment 2 by charonh
Sorry, But! User Icon on 2009-01-25

Remarks Bank of America is in trouble just like most other banks, including Citibank. I wouldn't close the account, besides Citibank may do the same thing to you too, these are bad times right now and they only thing that is certain at the present is that banks are UNCERTAIN, therefore you should not rely on them. If anything, you should be trying to sever the ties until the economy picks up. I have gotten into the habit of assuming that I do not have any available credit, therefore I do not depend on it. I sleep better this way!
Comment 3 by brian23
That's Pretty Crazy... User Icon on 2009-01-25

Remarks But I also agree, I would write a letter to of recon to the Credit Card Dept and ask them what happened. It doesn't make any sense to give the decrease after the account got paid off, but these are def hard times that every1 is feeling (banks and creditors).
Comment 4 by nyc123
Disturbing User Icon on 2009-01-26

Remarks Now that's messed up. I cant see a reason why they decreased your limit besides that they couldn't make money off of you. U said u owq no money to credit cards so that means your credit to debt ratio is 0% and scores u said were 750+ that's superb... There is no other reason for this... Bank of america just got angry and decreased it so u wouldnt do that again... Do close the account though because when the economy gets better it going to go up!!
Comment 5 by hjm331
RE: User Icon on 2009-01-29

Remarks When you took out the $8k, it raised a red flag as it would with any other lender. Not surprised to see this in the current economic conditions.
Comment 6 by wanderer
Bank Of America User Icon on 2009-01-31

Remarks Congrats on the card. Hmm... Today's credit card world sure is changed. You would think they would share the info and credit lines and ask you...! Oh, forgot... Customer sevice.
Comment 7 by cabana7
CLD User Icon on 2009-05-11

Remarks Same thing happened to me... I had money tied up for about 3 months in the stock market..( I'm usually good at timing it) and wanted to pay off my car loan... Took a cash advance for 2 months and then paid it back. They cut my line...(I was also a B of A stock holder) I called and talked to them and they raised it back up... I have now added 3 additional credit cards as backups just in case they get strange again. This action didn't really make me angry just kind of hurt my feelings as I have been perfect with them and they have always been good to me... I didn't really want to apply for more cards either since my score is now around 731... I guess these times are a changing...
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