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@Jasir wrote:
Hi all. Just some encouraging news. I just hit my 6 month anniversary on my BOA secured card; called and requested a CLI and was granted $500 raise (with an additional $99 deposit). So now my limit is $1000 (my deposit totals $198) and in 6 more months I should be graduating to unsecured and another CLI, plus getting my deposit back. So for those of you gardening a secured BOA ask for a CLI after your 6th statement, but be warned: it will be a hard pull and isn't guaranteed.
Congarts and the info will help someone else
congrats!
Congrats OP!
Congrats!
~kn
Congrats! Which i had went with BoA instead of Wells fargo for secured card, I reluctantly bank with well fargo so sigh
Congrats !
As a new BoA card holder.. I request that you share your tactics that lead you to the CLI.
Did you PIF before statement closed? Leave a balance and pay before due date? Were
the other cards essential? I hope to share the same news 6 months from now, I just got
my card last week.
I recall hearing that BoA won't unsecure a card until 12 months after the last CLI. Hopefully this isn't the case on the $99 deposit secured cards.
@bd2eazy wrote:Congrats !
As a new BoA card holder.. I request that you share your tactics that lead you to the CLI.
Did you PIF before statement closed? Leave a balance and pay before due date? Were
the other cards essential? I hope to share the same news 6 months from now, I just got
my card last week.
My only tactic is to pay on time every month. Sometimes I pay in full (most months), but I occasionally let a balance carry to the next statement. I always pay more than the minimum due. I don't worry about spending a certain amount on the card at all. I treat all my cards this way because I don't have the time or inclination to jump through hoops trying to maximize FICO potential (my Barclaycard posts at least 40% utilization most cycles).
Here's what my balances looked like at time of approval: Barclaycard $225 ($750 CL); Walmart $163 ($500 CL); Chase - $0; BOA - $0; My FICO scores are between 655 (TU) to 705 (EX).
The 6 month mark seems to be standard time for evaluation for a CLI, so just make sure at time of request your utilization is below 30% and never miss a payment.