Bank of America closed my account for no reason

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
15 posts
CC Deville
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Postby CC Deville » Tue Jun 19, 2012 7:45 pm

MemberSince99 wrote:CC for you that is bizarre, I guess do you really want to deal with a bank that worries about where you buy your groceries? If everything else is good, what the hell do they even care? It's WAY too "Big Brother" for me when they start snooping into that. I would drop THEM.


It really was upsetting. I have now (and back then had) excellent credit. Low utilization, not a lot of apps etc. I just like how they made it seem that they were doing routine reviews and noticed that I wasn't using my full credit line. As far as where I bought my groceries...I don't know that they knew that is what I was buying, it just showed up as Walmart. This was back when AMEX was getting into trouble for profiling people where they shopped. The whole Walmart thing is just my guess, I don't know for sure that they didn't like that, but it is the only thing that made sense given that I had just started shopping there and that out of my three Citibank accounts, the one that I used at Walmart was the one that got the CLD.

What really kills me is that even with the CLD, they still left me with a healthy credit line (meaning I could have still taken them for a big loss)....like, okay, did taking your $2700 back really help you that much? Was $2700 really worth making a long time cardholder upset? Who knows. I still have the card but I recently began using my Bank Americard Cash Rewards card (Chase Freedom for gas/groceries when the 5% bonus is in effect) the Dividend just can't compete. It is hard not to take some of these credit decisions personally, but in the end it is just business. Overall, I still like Citibank. I just received my EMV chip Dividend card in the mail on Saturday so that was cool. I don't know of any other creditor offering that to existing cardholders. (Chase does currently offer 4 EMV cards both to new and existing Hyatt, British Airways, JP Morgan Palladium and JP Morgan Select cardholders-but not for Freedom, Slate, Sapphire etc).


AMEXGoldfan
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Postby AMEXGoldfan » Sat Jun 23, 2012 4:07 pm

I've given up trying to figure out how banks make decisions regarding their credit card accounts. A few month back, First Bank of Omaha closed a Visa Rewards card. It only has an $800 credit limit, had a $0 balance, and I hadn't used it for a month or so. I went to purchase something online & it was rejected.

According to them, I wasn't a worthy customer, which is kind of a slap in the face. However, a few months later, Discover Card raised my credit limit $1500, as did my HSBC Mastercard.

Like I said, I've given up trying to figure them out.

SteveT
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Postby SteveT » Thu Jul 19, 2012 7:41 pm

CC Deville wrote:Nope. No balance transfer. I used it for my everyday living expenses: gas, groceries, utilities etc. PIF every month. I have no idea what prompted the CLD. Especially since they didn't touch my Visa and AT&T MasterCard.


Banks are cutting CL not only to those that they deemed a risk, but for those who have inactive accounts. By reducing those credit lines they can reallocate to new accounts or other accounts that will utilize the CL. Citibank wants to maximize the outstanding CL already available.

CC Deville
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Postby CC Deville » Thu Jul 19, 2012 7:58 pm

SteveT wrote:Banks are cutting CL not only to those that they deemed a risk, but for those who have inactive accounts. By reducing those credit lines they can reallocate to new accounts or other accounts that will utilize the CL. Citibank wants to maximize the outstanding CL already available.


Holy random, late response, Batman! In my situation the card that I had been using on a weekly basis, my Dividend, had the CLD yet my Visa and AT&T MasterCard that I NEVER use were not touched. In fact, the AT&T MasterCard was given an auto CLI 7 months after they CLD the Dividend. The letter they sent specifically stated that they noticed that I had not used the full credit line on Dividend. By Citibank's (and your) reasoning, the Visa and AT&T card should also have been CLD as they are never used-but they weren't. This was near the end of 2009 and early 2010 when all the banks were acting weird. As weird as someone who joined a credit board 3 and-a-half years ago and only made 11 posts only to re-appear out of the blue to respond to a month old post. That makes you interesting.

tanyasf
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Postby tanyasf » Fri May 31, 2013 11:40 pm

The same thing happen to me ,But i get over it ,I hope OP is fine now and find the best card fit you



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