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Old May 2, 2017, 4:29 pm
  #304  
sdsearch
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Join Date: Jan 2005
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Originally Posted by milaohu
I just saw the difference between reducing CL and close the card.

Could I reduce my AS Personal card CL from $10k to $200, and close it IMMEDIATELY with the same call?

Will BOA release the $9800 CL in one month or one year? I known they will only reduce the $200 in one year, but not sure about the $9800 reduced and closed same day.
Why risk it? Since the reduced credit limit may not show on BofA's website for a day or two, I wouldn't count on it therefore being reduced before closing if both reducing and clsoing happen on the same call. Since I don't think you can see your credit limit after closing anyway, for all you know if you ask for both on the same call the agent may just cancel the credit lowering since you're closing the card anyway, and not tell you! (No one who's not about to reapply would know the difference, and of course you don't want to let on to an agent that the reason you want to do something is so you can turn around and re-apply !)

I would recommend waiting several work days after lowering the credit limit before closing the card, to make very sure the two events are distinct from each other. At the very least, make sure the website shows the credit limit lowered (which typically takes a day or two) before you close the card.

Meanwhile, if you had been reading this thread, you would have realized it may take several calls to reduce your credit limit from $10k to $200 in the first place. Many agents seem to say that you cannot reduce below $5k, so you have to seek out an agent who will try it and then it's likely to work. But that may not at all be the first agent you talk to.

So if your goal was to limit the number of calls you have to make to BofA, you're in the wrong game.

Last edited by sdsearch; May 3, 2017 at 1:40 pm Reason: type
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