Where are you parking your money ?

Thant is more important now a days ....

jairocon said:swagatalakshmi said:Where are you parking your money ?

Thant is more important now a days ....Hopefully SECU, if it falls through then EverBank.Good choices. Will you park only the 12 month $$$ at secu (7 month cd)? Or will you park all of it, then transfer the 6 month promo debt terms to remaining available 12 month options?

WTF? I noticed yesterday that my Business Card from BofA disappeared from my online access. I called the tech support today and they told me that they can't add it to online access since the account has been closed. So I finally get transferred to the small biz CSR and she tells me that the Small Biz account has been closed yesterday and that a letter has been mailed out. She said she doesn't know the reasons for closure, but that it has been closed by the Credit Dept.

F#$k! My last hope of keeping at least the small biz line alive with BofA is now gone and that means all my credit accounts with BofA are gone. $70k+ CL combined. I don't know why those asses have not closed the BofA Biz when they closed the personal lines, maybe they just didn't get to the small biz until now. I'm going to try and get regular reports to see if they pulled my report again these last few days, but there's nothing new that wasn't there a month ago - it's actually even better now, since most of the inquiries are gone.

Oh well...

The pissy thing is that there's really no way to pay this card online anymore, since it's gone from my online access, so now I'm going to have to actually billpay it. Not such a big deal, but it adds an unnecessary step.

Grrr...

Edit: Well it wasn't from Equifax, last AR from BofA/FIA was 8/29. I see that SECU has pulled a softie on 10/02 - which means that they're processing my app. Nothing new on experian - last BofA pull was 09/04 (this was the one that probably resulted in all the closures since I was called right after the labor day). I'm not checking TU... to heck with BofA.

Jairocon, that's a huge drag. You'll probably be able to get more BofA cards in a year, but it's still a drag.

But again, if it's any condolence, your experience did inspire me to drop my util on my BofA card to a lower level. If that keeps my credit lines alive, then that would make you the "red shirt" in a Star Trek episode who beams down to a planet only to get eaten by a bear, so that William Shatner can be the hero.

I salute you, Mr. Red Shirt Man.

(and if it doesn't work, I'll be joining you in a couple months!)

markkundinger said:I salute you, Mr. Red Shirt Man.

I'd love to say "to hell with them" but losing so much credit still hurts. What I'm more pissed about is the ex-MBNA card that had an 8 year history and had a billpay with it. I wish I had that one back. Stupid BofA-MBNA merger. Anyway, that's my last rant on the subject.

I'm crossing my fingers that the $200k check for the SECU CD doesn't bounce, as that money is still not available in my GMAC account. The balance is there, just not available yet.

Then again as I said to my g/f today - if you're ever going to bounce a check - it might as well be a check for $200k

I'm not even going to call SECU to get my online ID, until I see that the money is available in GMAC.

Awesome! My SECU CD has been opened on 10/02.

My $200k+ have finally become available in GMAC today, hopefully the check for SECU has not bounced yet. If it clears today, that would be a nice 2 day of overlapping interest.

jairocon said:Awesome! My SECU CD has been opened on 10/02.

My $200k+ have finally become available in GMAC today, hopefully the check for SECU has not bounced yet. If it clears today, that would be a nice 2 day of overlapping interest.Nice. Congrats...

Thanks for posting the BOA data points too. I'll be zeroing the 1 card I have with them ahead of plan...

jairocon said:Damn it - so my girlfriend's AOR 1 year anniversary is today. Yesterday I called to cancel her AMEX Gold and AMEX Starwood card. In order to preserve history - I asked AMEX to convert her starwood into AMEX blue cash card. And the motherf#$%ers pulled a hard one on her experian. Shit! I'm cleaning up her reports doing the old bump-n-grind dance and these bastards have the audacity to pull a hard one?

Now the question is whether they just cancelled her old starwood and opened a brand new AMEX blue cash w/o conversion - as in a brand new account. Bastards! This really pissed me off right of the bat this morning.

Oh AMEX is going to get such a nasty call from me in a few hours - I have no idea how I'm going to get them to reverse the hard one on experian - but what pisses me even more, is that it was me on the phone with them last night - and being the "AOR veteran" that I thought I was - I was pretty happy with the way everything went. Then I find this. Just a follow up on this - we learn from our own mistakes. Next time when I'll have to call AMEX to cancel or convert an account - I'm going to make sure I go over everything twice before hanging up.

So this is what I wanted:
- convert g/f's AMEX starwood -> blue cash in order to avoid annual fee and preserve the account history

This is what they did:
- pulled hard on experian
- approved a brand new blue cash w/ $2k CL
- did not close the old AMEX starwood w/ $700 CL

After bitching through their CSR and credit bureau dept (800-874-2717) I was told to fax a page from my g/f's credit report that shows the inquiry and also a letter saying that this was unauthorized pull by AMEX. I faxed it to 801-945-2884.

Now let's see if they do anything.

In the meanwhile - I'm going to keep both accounts active and I'm going to be calling every single day complaining about the starwood situation and asking for a refund of the annual fee (which has not been charged yet).

win333:
1. Current lenders can still pull your reports even if you freeze them.
2. It takes about 3 days to get the freeze lifted, permanently or temporarily, for residents of most states (PITA)
3. It is not free in most states.

So, nothing to get so excited about. And definitely wrong place.

Update: Last night I sat down and calculated my results.

Current Scores (TrueCredit): TU: 721 EX: 684 EQ: 723
Inquiries: TU: 0 EX: 10 EQ: 0

Personal CLs (before AOR): $195,910
Personal CLs (after AOR): $281,260

Business CLs (before AOR): $14,500
Business CLs (after AOR): $186,400

Total CLs (before AOR): $215,118 (includes store cards as well)
Total CLs (after AOR): $472,844

Adverse Rxns:
1. BofA cancelled all my cards including the oldest MBNA line = loss of $39,800 of personal CL
2. Chase cut my second oldest line from $1,000 to $300 = loss of $700 of personal CL
3. BofA cancelled my Biz card = loss of $34,500 of business CL

Current total CL: $397,844

So even with the loss of $75,000 credit since AOR, I'm still sitting tight at double the credit compared to the before AOR situation.

Outstanding debt:
Personal: $125,600 (66.26% overall biz util, not that this matters)
Business: $123,500 (44.85% overall personal util not accounting for the lost lines).

The question is - how are closed lines that are carrying a balance considered. While a $0 balance closed line does no longer contribute its CL to an overall CL scoring/utilization, would a $33k balance closed line (w/ $37.5k original CL) be classified as 100% util or a <89% util?

I have not seen a score drop since the closures hit the CRs.

At the moment I am disputing my SunTrust line at TU, since it reported a $15,999 balance on a $16k card, while the balance as of last statement was under the 89% threshold.

Considering the current interest rate environment, I decided to be less conservative with my personal BTs this time. At the moment I have 7 lines at or slightly below 89% and 1 line at 97%. The other 22 lines are at 0%. The 97% line is a Juniper National Parks card with balance of $21k+/$22kCL. I decided against moving the line to BankAtlantic, as by the time I found out about this fact, it might have been too late for it to be successful. The second reason why I decided against paying it down below 89% was the fact that I've read a countless amount of reports from people saying how Juniper likes to either close the line or lower the CL close to the balance (thus increasing util close to 100% again). So I'm going to keep it high.

I only have one last untapped BT - and that's the CitiBiz no fee. Currently $12k CL, but possibly moving personal CL to it - I'm probably going to keep this on a backburner for safety, in case I ever need to pay off some lines fairly quickly.