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Surprise from Bank of America


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A bit of a pattern is emerging here. CLI's on this account are alternately $1,000 or x, where x starts as $3,000 and increases by $1,000 with each iteration.

 

First CLI was $1,000; second was $3,000, third was $1,000, fourth was $4,000. Is this an official pattern at BofA? My next CLI is to $15,000, and after that, to $20,000?

 

 

$20K would be a new record for me.

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  • 4 weeks later...

I requested a CLI and got one today from BOA, will they use the same pull if I know app another card? I got an email right after my CLI approval telling me I qualified for a few other cards but don't want to take a second HP

 

First of all, do you know for sure that they even did a hard pull for the CLI? They've never done it for any of the 4 CLI's I've gotten on this card.

 

 

(Edit: btw you forgot to give me plaudits for my CLI)

Edited by Sidewinder
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My last surprise from BofA was in the form of an overnight letter closing all my accounts - savings, checking, pers CCs, biz CCs and Merrill Lynch brokerage.

 

So Sidewinder - you get my ignominious disdain.

 

 

What Konrad said...but I found out trying to buy a client a drink at work when my card declined $1.50 -_-

 

What the heck happened?!?!??

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I requested a CLI and got one today from BOA, will they use the same pull if I know app another card? I got an email right after my CLI approval telling me I qualified for a few other cards but don't want to take a second HP

 

First of all, do you know for sure that they even did a hard pull for the CLI? They've never done it for any of the 4 CLI's I've gotten on this card.

 

 

(Edit: btw you forgot to give me plaudits for my CLI)

They asked for a CLI, yours were probably auto-CLIs. CLI requests with BOA almost always cause a TU hard pull.

 

To answer the original question they will reuse the same HP for additional CLIs, or if you apply for a card, within 30 days. Same is true if you first apped for a card except that they usually pull EX instead, they will still use it for CLI requests even if for a different card.

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My last surprise from BofA was in the form of an overnight letter closing all my accounts - savings, checking, pers CCs, biz CCs and Merrill Lynch brokerage.

 

So Sidewinder - you get my ignominious disdain.

Overnight letter? They probably noticed how much you liked those Express mail/FedEx shipments of cards. :-)

 

Did you get any alerts or emails?

Edited by credit_help
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What Konrad said...but I found out trying to buy a client a drink at work when my card declined $1.50 -_-

 

What the heck happened?!?!??

 

 

Well, I went in and spoke with the VP at the bank here in town, who called in, and they told them it was because of multiple balances revolving - my 0% balances getting paid down with over minimal payments - and that sometimes they will contact the person, but they didn't in this case, it's up to the person doing the "periodic manual review" but that if I paid off one or two of the other cards, they would reconsider re-opening the lines. So now it's big decision time, because that *is* my longest-open card with 17 years on it....and if it's worth it to me in the long run to keep my credit higher (Closing down $37,000+ in lines would be an admitted ding to overall util)...or let it drop, risk AA from other banks likely thus...just to keep the 0% offers floating. As of current time, I don't have need to charge anything else, literally, as I'm in paydown mode, where the spreadsheet and target plan has all debts paid off in 1.5 years except the houses, and those paid off in 5 years.

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I think it's precisely because of that, though they won't say it. My guess is because I did the cash-out and BT to invest it for a year, I passed whatever DTI boundary made them panicky.

 

We are exercising the right in your card member agreement to close the account at any time. This was a business decision. No further information will be made available. Go fuk yourself.

 

That's pretty much how BofA shutdowns go. LOL.

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I think it's precisely because of that, though they won't say it. My guess is because I did the cash-out and BT to invest it for a year, I passed whatever DTI boundary made them panicky.

 

We are exercising the right in your card member agreement to close the account at any time. This was a business decision. No further information will be made available. Go fuk yourself.

 

That's pretty much how BofA shutdowns go. LOL.

I have read many Chase closures going like this but not BofA. BofA closed recently opened accounts and instituted a new 2/3/4 rule for number of accounts that can be opened.

 

https://www.doctorofcredit.com/httpswww-doctorofcredit-combank-america-312-rule-credit-card-approvals-contribute-data-points/

 

These are the first all account closures I have read.

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FWIW as a DP, I hadn't opened a 'new' account with BofA since the Americard & Business (August 2017) which did offer the 18-month 0% that I took advantage...or so I thought. :D The other card with them is my 17-year old Cash Rewards...my longest card, and a credit profile with perfect payment history with them - And only one 6-year old historical late 30-day with Chase with prior system glitch that GW and such had no luck on.

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FWIW as a DP, I hadn't opened a 'new' account with BofA since the Americard & Business (August 2017) which did offer the 18-month 0% that I took advantage...or so I thought. :D The other card with them is my 17-year old Cash Rewards...my longest card, and a credit profile with perfect payment history with them - And only one 6-year old historical late 30-day with Chase with prior system glitch that GW and such had no luck on.

You could apply for the cards again, get them closed. Rinse and repeat. :-)
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