Building my Credit.Okay — so it seems that inactivity has reared its ugly head. I had two plastic casualties since the last time I did this — nearly a year ago.

As a result, I sorta “lost” $29100 in credit.

I’m not worried about it though, I mean, I hadn’t used (or even planned on using) either card for a number of years…

Still, though, there isn’t *any* good news to report here.

I “lost” two cards and the rate on one of my remaining cards went up.

Here’s the updated list:

Bank of America Business MasterCard
Originally an MBNA account before they were bought out by Bank of America, I opened this account in March of 2005 when I started to divide my personal and business expenses and keep track of them separately. Turned out to be a great move as it was shortly there after I realized how much money I was bleeding on business expenses. I do not carry this card, but automatic payments are set-up for my monthly business expenses.
Current Balance: $0
Credit Limit: $26620 (No change)
Rate: 9.9% (No change)

CitiBank AT&T Universal MasterCard
I opened this account in April of 2007 utilizing a 0% for 12 months offer. I wrote a $6000 check to myself, which I originally dropped into my ING Direct savings account to jump on the “arbitrage” bandwagon. Shortly afterwards, I pulled the money out to finance the siding project. Now paid off, this is the card that I carry in my wallet for regular expenses.
Current Balance: $0
Credit Limit: $9500 (No change)
Rate: 16.990% (No change)

Chase Bank Visa Card
This was one of my first credit cards. I opened the account in 1998 and it was one of the cards that I ran up a considerable balance on before I got my act together. The highest it ever went was $12905 and that was in October of 2005. By August of 2006, I’d eliminated the balance, but continued to use the card for gas and the occasional purchase. Balance was always paid in full each month. In June of 2007, I took advantage of a 4.99% for the life of the balance offer to fund the siding project. In 2009 I put a big sticker on the front that says “GAS ONLY” to remind myself that I’m only allowed to use this card at the gas station. So far, it’s worked.
Current Balance: $0
Credit Limit: $19200 (No change)
Rate: 18.24% (Up from 13.24%)

Bank of America NHL MasterCard
Another of my original credit cards originally opened through MBNA in 1997 for a free t-shirt. This is another card that I mananged to run up a 5-figure balance on. In May of 2004, it topped out at $10915. By November of 2005, I had wiped the balance out. Now I have my internet service provider automatically bill to this card each month, and like clockwork, I pay back the $42.95 automatically on the same day using an autopay set up from the MBNA days. I do not carry this card and have not carried a balance since November of 2005.
Current Balance: $0
Credit Limit: $14000 (No change)
Rate: 15.99% (No change)

Bank of America Platinum Plus Signature Visa Card
Originally opened in March of 2005 as a failed plan to use balance transfers to consolidate balances at a lower rate. At first I transferred $5000 to this card. Evidently, not having learned my lesson the first time, I transferred another $5000 to this card in March of 2006. Luckily the rate was only 6.25% for both transfers. I wiped out the balance, which topped out at $6925 in March of 2006, in January of 2007. I do not carry this card and haven’t used it since January of 2007.
Current Balance: $0
Credit Limit: $0 (Poof! This account disappeared!)

LendingTree Bank of America GoldOption Loan
This was a loan for $10000 I took out in December of 2002 to, again, consolidate a few balances and put some much needed cash in my hands. At the time, it was LendingTree.com that found me the loan at 9.9%, and when the big check made out to me came in the mail, it was from MBNA. After a couple years of paying it down in regular $226 intervals, MBNA sent me a credit card attached to the account and started treating it like a credit card. With each month, the rate would rise another half percent or so. Not cool. I made my final payment in March of 2005 when the rate had climbed to 13.24%. I do not carry this card.
Balance: $0
Credit Limit: $0 (Poof! This account disappeared!)

In past reports, Chase Bank has been the big winner. BoA would cut my rates, Citi would jack my rates, and Chase would just keep on plugging along, you know, business as usual.

I guess it had to end at some point — Chase has now bumped my rate up — but BoA is still the big bad guy for dropping those two accounts.

Citi? Well, they grind my gears and I’m ashamed to admit that I *still* carry their card.

Anyway, here’s the token recap of past roll calls:

» Jun 2007 : Limit = $98500, Balance = $13026
» Jan 2008 : Limit = $108400, Balance = $8125
» Apr 2008 : Limit = $110820, Balance = $0
» Dec 2008 : Limit = $111820, Balance = $0
» May 2009 : Limit = $98420, Balance = $0
» Apr 2010 : Limit = $69320, Balance = $0

Can this be called progress?

Or just a sign of the times?

I guess I’ll have to put that Maserati purchase on hold…

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