Only using 10% is definitely NOT over utilization of your credit. To me it sounds like what must have happened is simply the same thing they're doing to many of their customers.
I have a B of A credit card with a balance transfer of 0% on it that expires in December and they have not raised my normal rate yet. This could be because I don't make purchases on that card anymore so they know raising the rate would be pointless anyways. My % of credit limit used is closer to 25%.
In my opinion Bank of America no longer offers cards which are worth having. Their rewards are the typical 1% and if you carry a balance their rates are above average.
I like the American Express Costco card. I use to have it until I canceled my Costco membership. It wasn't worth having a membership there for only myself.
__________________
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
-Warren Buffett
Current Cards:
American Express: Blue Cash, Simply Cash
Bank of America: Visa Financial Rewards Platinum Plus
Chase: Rewards Visa, Amazon Visa
Discover: More
Current Everyday Card: American Express Blue Cash
|