My daughter found out her boss had the same thing happen to him and he didn't know it until it was too late. He had never been late with a payment. His advisor told him to pay off the balance and then ask for the highest credit limit he can get from BOA which will be a high one since he paid off a loan at 30%. Then tear up the BOA credit card and never use them again. As of next year, the credit limit will have to show on the bank's books as in reserve in case he has to use it and that has to be reported to the government. I have no idea what that all means but her boss sure seems to get a kick out of it. He can't even say the name of Bank of America without getting blood red in the face.