- Centurion Member
- Posts: 106
- Joined: Wed Apr 03, 2013 3:16 am
- Location: nyc/ny
that's pretty much how they work. BoA was my second card. they started me off at $300 but with a fixed 7.9% APR. that was about 9 years ago and i was a first year college student at the time. after 2.5 years of heavy use they raised me to 5K and i also had an Amex clear with a 2.5k line at that point. i paid my balance in full every month.
i too ran into some financial troubles and had a revolving balance of 3-4k on BoA and 2k on AmEx for almost 2 years. eventually i paid them both off. immediately afterwards both cards cut my CL to $500. but they didn't close the accounts because i didn't hold my balances THAT long.
in any case, the moral of the story is that if you hold large balances for a looong time you are deemed a possible liability. so they cut your line or cut your whole account. that's the nature of the beast.
years have past, my salary has grown substantially. i spend a lot but i pay it back every month in full. never carry over a dime. now both of those cards have lines of over 20k. (i should update my sig but too lazy). i didn't apply for a single CLI. they did it on their own.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL
Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.