DUmbass counts on borrowing money for financial security

[BannedFromDU]

Barack_America  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Thu Apr-30-09 11:45 PM
Original message
Bank of America, God Damn It!
   
Assholes just took my line of credit and cut it half. I've been with them for 11 years and they're my main source of credit.

I called them to ask why and they told me, "Oh, you're a perfect customer, but you just weren't using all of that credit".

Um, yeah, of course I wasn't. If I was I would pretty much be a financial mess.

Truth is I WAS using the available credit to build my credit score, which is now going to take a huge hit.

So I've basically been punished for having good financial sense.

They ****ed themselves over with bad mortgages and decided to take it out on me. Isn't that just great.

So much for being able to buy a house this year.

So much for being able to charge any expenses for my wedding this summer, considering doing so affect my debt:credit ratio and screw up my credit score even further.

Let me just tell you how HAPPY I am to be paying tax money to BofA, giving them the chance to turn around and **** me over.

:grr:


It was pretty much either vent here or break shit..so, yeah...thanks for indulging me.

Idiots




     Despite their hatred of banks, DUmmies' definition of "poor" is "can't borrow any more money."

     Entre nous, moron: That line of credit did not belong to you. It was offered to you.

     This and the rest of the stupidity on that thread reveals so much of why I don't want liberals in charge of banks: they think that because the banks were bailed out, that they should get to call the shots based on their desires and perceived needs. They seem to think that because the banks were bailed out, they should go back to business as usual and leave all unused lines of credit wide open. In a recession. In a DEEP recession.

     Lurking DUmmies, the banks don't belong to you. They belong to shareholders. Lines of credit do not equal wealth. And even if the banks DID belong to us, then I WANT A VOTE, AND I VOTE THAT YOUR LINE OF CREDIT GETS SHUT DOWN, BECAUSE I DON'T WANT YOU BORROWING MONEY FOR A WEDDING THAT HAS A 50% CHANCE OF FAILURE.

     How d'ya like them apples, DUmmies?

[DumbAss Tanker]

So if your credit is so hot, and having unused credit is so important to your rating (Not necessarily a correct premise by any means, but let's leave that one for now), just get an additional card from another vendor and don't load it up, dipshit.

 

[AllosaursRus]

So if your credit is so hot, and having unused credit is so important to your rating (Not necessarily a correct premise by any means, but let's leave that one for now), just get an additional card from another vendor and don't load it up, dipshit.

 

Exactly! I have credit card companies sending me offers all the frikkin' time! Usually with $5,000 limits. I find it difficult to believe that cutting his credit line would have anything to do with his credit "score".

[Ralph Wiggum]

So if your credit is so hot, and having unused credit is so important to your rating (Not necessarily a correct premise by any means, but let's leave that one for now), just get an additional card from another vendor and don't load it up, dipshit.

 

It sounds like the DUmmy in question is talking about a commercial line of credit, not simply a credit limit on a credit card.

How exactly a DUmmy gets a commercial line of credit is another matter.

I'm suspecting there is more to the story.  But isn't there always when it comes to them?

[RobJohnson]

It sounds like the DUmmy in question is talking about a commercial line of credit, not simply a credit limit on a credit card.

How exactly a DUmmy gets a commercial line of credit is another matter.

I'm suspecting there is more to the story.  But isn't there always when it comes to them?

I suppose there are crack dealers with lines of credits with banks, maybe the DUmmie is no exception? 

But it sounds like he has smoked up all the inventory, as Bank of America has personally went after the DUmmie due to the mortgage loan crisis!

[Chris_]

I also have a B of A credit card, and recently got a similiar letter reducing my credit line on the card........I never carry a balance, and have deposits with this bank in six figures, so it is much more likely that B of A is reducing the lines on cards like mine, where I never, ever, actually use the line........

I certainly was not offended, I could care ess.......

doc

[AllosaursRus]

I also have a B of A credit card, and recently got a similiar letter reducing my credit line on the card........I never carry a balance, and have deposits with this bank in six figures, so it is much more likely that B of A is reducing the lines on cards like mine, where I never, ever, actually use the line........

I certainly was not offended, I could care ess.......

doc

Ahh! now I understand. I too have a B of A card, but it does have a balance. I use it to make all of my auto payments. Maybe that's the reason they haven't changed my limits.

[rich_t]

So if your credit is so hot, and having unused credit is so important to your rating (Not necessarily a correct premise by any means, but let's leave that one for now), just get an additional card from another vendor and don't load it up, dipshit.

 

My FICO score actually went up after I closed a few unused credit card accounts.

BofA hasn't cut my credit limit yet, but they have upped the APR.  I called to ask why and was told they are basically raising rates across the board for most of their clients.

[DumbAss Tanker]

My FICO score actually went up after I closed a few unused credit card accounts.

BofA hasn't cut my credit limit yet, but they have upped the APR.  I called to ask why and was told they are basically raising rates across the board for most of their clients.

Yeah, I have one "Affinity" card from them, the APR doesn't matter to me since I don't carry a balance but I did use it recently because I needed a big wad of cash for a property transaction on almost no notice (My local bank wouldn't honor their "Zero APR/no fee advance check" to get the requisite cashier's check, as they had been jacked around by BoA, Discover, et al., too many times and weren't playing any more, so I had to take a straight cash advance with an ugly fee for same to close the deal on time; I paid it all off on the next bill, but they still hosed me for additional finance charges on the billing cycle afterward).

I got a notice from them yesterday about account changes, I didn't focus on the APR change (since I never intend to use it again aside from a $14.99 recurring on-line game membership of my teen-ager's that is paid off every month) but it seems like any ATM or other transaction besides a straight charge is going to carry a minimum $10 service charge now.   

[Texacon]

This and the rest of the stupidity on that thread reveals so much of why I don't want liberals in charge of banks: they think that because the banks were bailed out, that they should get to call the shots based on their desires and perceived needs. They seem to think that because the banks were bailed out, they should go back to business as usual and leave all unused lines of credit wide open. In a recession. In a DEEP recession.

You know .... I'm the manager of a small utility here where I'm at and we have detractors from time to time who say things that are simply untrue.  One of the things we have done in the past is get them on the Board of Directors for our utility.  Once they see the inner workings they change their minds.  It is interesting how much people spew stuff out they have no clue about and IF you can get them to a position where they can see all the 'behind the scenes' stuff AND they have any comprehension of what they are seeing you can turn them around.

This is kind of how I view DUmmies.  They simply don't know what the hell is going on BUT the big difference is; They actually think they are intelligent and, as such, are incapable of learning anything.

KC

[USA4ME]

Barack_America

Truth is I WAS using the available credit to build my credit score, which is now going to take a huge hit.

That's a lie.  BofA lowering your credit availability would not effect your credit score.

This was probably a line of credit on his house.  Pretty easy to obtain over the last few years.  They could have dropped his available credit because they determined the amount they made available for him was no longer secured by the value of his home.

BTW, a little info for my fellow CCers.  When it comes to credit ratings, paying a mortgage on time is the strongest form of credit, followed by installment loans (auto, major applicances, etc...), followed by credit cards and/or other forms of revolving credit.  A good example is what rich_t said about getting rid of some of his CCs which, in turn, raised his credit score.  A nice mix of mortgage, fixed installment loans, and revolving lines demonstrates the ability to budget.  Having an odd mix of too much (or not enough) installment compared to not enough (or too much) revolving can lower your score.

.

[rich_t]

Yeah, I have one "Affinity" card from them, the APR doesn't matter to me since I don't carry a balance but I did use it recently because I needed a big wad of cash for a property transaction on almost no notice (My local bank wouldn't honor their "Zero APR/no fee advance check" to get the requisite cashier's check, as they had been jacked around by BoA, Discover, et al., too many times and weren't playing any more, so I had to take a straight cash advance with an ugly fee for same to close the deal on time; I paid it all off on the next bill, but they still hosed me for additional finance charges on the billing cycle afterward).

I got a notice from them yesterday about account changes, I didn't focus on the APR change (since I never intend to use it again aside from a $14.99 recurring on-line game membership of my teen-ager's that is paid off every month) but it seems like any ATM or other transaction besides a straight charge is going to carry a minimum $10 service charge now.   

The APR increase doesn't impact me either.  We pay the balance every month.  We have a ridiculous credit limit on that card too (over 30K), we have never had anywhere near that much charged on that card.