I didn't make a payment to my bank of America credit card for 60 days and now they block my credit card?

Question

what will happen after I make a payment current ? Will they reopen it

Answer 1

There are a number of options that they have.  They may open it but freeze your balance at a figure and charge you big fees if  you go over that figure.  They will likely reopen it though as you are bringing them money  However, if you pay attention to your interest rate it will be going up and will get quite high.  they charge as much as 30% interest at times  which should be illegal.  

If you can bring it up to date, I'd recommend you do so, but not at the expense of a mortgage or something that it takes to live.  You can contact them and negotiate to try to get paments set up to pay this off.  They may reduce the amount if you can pay in full.  I presume you can't do that.  See about reducing the interest to allow  you to pay it off and get out of debt.  When you make a commitment, keep it.  You can probably pay one payment and add a bit extra - but make sure that the payment  you make is more than the interest rate or you will never get out of debt.  That plays into the hands of the credit card company.

They used to let cards ride a bit longer but they don't anymore as too many are short on income and the economy is so bad.  They want to limit their losses and so you can't use  your card.  

See if you can negotiate a payment plan to freeze the account until you are current or forever if the interest is high, and make regular payments.  If they say your payment is a certain amount, try to pay more than that so you can reduce it more quicly.

Good luck to you as  you re-negotiate it.  However, maybe you should think several times about having it reopened. Or in the future, try to pay off all the charges  you made in a month plus the interest that is accumulated.  I've made the mistake at times of being too busy to pay some of those credit cards on time and they have socked me with interest.  It has taken several years to get some cards switched arund to get lower interest and to start getting the card down to where they are beginning to be paid off..  I won't close them then, except for any that don't reduce the interest rate, but will make sure that they have a positive record on my credit for more than 6 months.

Good luck in getting out of debt.  To me, too.

Answer 2

You'll need to call in and talk to them and while you at it, bring it up to current while you are on the phone.  You'll need to talk to a supervisor not one of the drones as the drones have no power to help you, they just take payments.

Answer 3

BoA has the right to block your credit.  This happened to a friend of mine who lost his job and couldn't pay.  He called BoA to explain the situation.  He made minimum payments.  When he got another job he was able to pay off his four-digit debt in a few months and his credit card reopened...at the higher rate.

ALWAYS contact your lender in a payment crisis.  People on the other end DO want to work with you, and talking to the bank and explaining the situtation is much better than "Theft by deception" or "Credit Card Fraud" you could be charged with by ignoring payments.

Answer 4

Just need to get caught up on the payments. Give them a call and work out a plan with them. They'll reopen it.

Ask them to lower the amount of credit on that card so you don't run yourself into the ground financially.

Answer 5

Doubtful, cause you'll just run it up and stop paying again.

Answer 6

they may not because you have just ruined your credit for 7 years. good luck trying to get another!