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I Called Bank of America About My Reduced Credit Limit. They Reduced it More. – Charles


“Dear Steve,

Bank of America has lowered my credit line from 23000 to 16 and when I called to complain the dropped it down to the current level of 13500. I use my card in business and know they have the right to do this but what about the negative effect on my credit score. I always paid them on time and as requested but their one sided action will impact my credit score.

Is there a class action lawsuit that I can join to force FairIsaac and BOA to properly account for my good credit? I know they have the right to do this just as I have the right to close my account and negotiate a payment plan but why should that action hurt my credit score. I cant take them on myself but is their someone else I can join with?


Dear Charles,

I hear what you are saying. You feel you are being treated unfairly, and I agree. But this isn’t just a Bank of America problem, this is an issue that every consumer faces with every credit card issuing company.

What makes this problem tough is that it is a situation that all cardholders agree to in their agreement with the credit card company. The right for the credit card banks to adjust limits and interest rates is usually very clearly spelled out in the terms and conditions.

It basically falls into the problem of it’s their ball and they don’t want you to play with it anymore, so they are taking it away from you and home with them.

You have no right to the credit card, you use it only at the pleasure of the credit card company. And as far as the credit score goes, you can’t forget that the score is calculated to identify potential profitable customers, not people that might be personal finance wizards. The credit score and the access to the credit card are not available to serve you, but the creditor.

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If you want to close your card, that it your option. You would then need to make the minimum payment as specified by Bank of America to minimize credit report damage.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • That was the beginning of the end for me 3 years ago. I went to have it upped (just to keep my ratio low) and got the rejection. When I asked why, THAT’S when they went and dropped that limit lower. Of course, stuck in the cycle, and we’re just about ready to meet up with the lawyer to put on retainer. August can’t come soon enough (b/c of a lump sum, we can’t file until August, when my normal wage will be the average).

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