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B Of A CLI denied....

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awp317
Frequent Contributor

B Of A CLI denied....

So I have had this Bank of America cash rewards card for about a year. I was instantly approved for 20k. last Friday for the first time ever I saw a "request credit line increase" button appear. I may have misinterpreted what I read on here but I read it only appeared if they were ready to increase you. I clicked it, agreed to the TU hard pull and got the 7-10 day request. I asked for 40k figuring they would counter. I waited figuring that the next day maybe a new limit would appear (happened before on an old b of a line) but it never did, today I got the letter and the only reason it stated was something to the effect of "current credit line meets or exceeds your needs based on credit profile and card usage" is it worth calling in to recon or should I just let it go? I figured with my other credit lines this wasnt to big of ask. Thanks for the help! Letter said my score was 777. Edit- I dont know if they are counting company credit too or not. Currently have a 17k balance on the company b of a since its 0%. Will pay it off next march when it runs out. IDK if that didnt help either. I run about 3-4k a month through the Cash rewards card, when I asked it had a 4k balance but a 4k payment pending, card it back at 0 now. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
10 REPLIES 10
kdm31091
Super Contributor

Re: B Of A CLI denied....

People read too much into the link appearing. All it means is that you are eligible to request an increase. It means nothing about the outcome.

Message 2 of 11
pizza1
Community Leader
Super Contributor

Re: B Of A CLI denied....

Sounds like you're at internal limit/exposure with them for right now. You can call the BD # and Inquire, but then Ive read a few threads of folks who have done that, and then it sparked another "review" that wasn't too favorable to the OP.

Id say, call at your own risk.
Message 3 of 11
Anonymous
Not applicable

Re: B Of A CLI denied....


@awp317 wrote:

 today I got the letter and the only reason it stated was something to the effect of "current credit line meets or exceeds your needs based on credit profile and card usage" 


I'm assuming they used this reason because you are not charging anything close to 20k or even 40k per month on the card. If you use the card for $3,000 per month, for example, they can reasonably say you are not using enough of the card's credit limit to warrant an increase.

Message 4 of 11
kdm31091
Super Contributor

Re: B Of A CLI denied....

You already have a 20k limit which you only use maybe 4k of in a given month. What is the business reason for BOA to approve an increase? Not to sound harsh, but there isn't one. The letter is accurate; the limit meets your needs and spend.

 

We all want more more more just to bufer utilization and whatnot but there's not much reason for the lenders to comply when you are hardly using the line you have.

Message 5 of 11
awp317
Frequent Contributor

Re: B Of A CLI denied....

I guess i see yalls point on usage. I read B of A was a super generous lender. You would think with over 600k a year income and my other limits they would give me more than a 20k limit, might be a chopping block card at this point if its not gunna grow. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 6 of 11
Anonymous
Not applicable

Re: B Of A CLI denied....


@awp317 wrote:

I guess i see yalls point on usage. I read B of A was a super generous lender. You would think with over 600k a year income and my other limits they would give me more than a 20k limit, might be a chopping block card at this point if its not gunna grow. 


I suggest you call BOA and talk to them. With your income and score I don't see any issue on why you can't get higher limit. Indeed BOA is generous and hope they come good on you!!

Message 7 of 11
Anonymous
Not applicable

Re: B Of A CLI denied....


@awp317 wrote:

I guess i see yalls point on usage. I read B of A was a super generous lender. You would think with over 600k a year income and my other limits they would give me more than a 20k limit, might be a chopping block card at this point if its not gunna grow. 


Does the card offer value to you? If yes, keep it open. Don't focus on the credit limit focus on the value. Smiley Happy

Message 8 of 11
lhcole77
Valued Contributor

Re: B Of A CLI denied....

Speaking from experience, I have requested a CLI online where I didn't get the full amount I had asked for. Called the back door, spoke with a nice analyst, BAM! Approved for full amount requested.  BofA will use same pull if you choose to call in.

 

A second time after a request I called in. Again, wasn't given full amount during request, spoke with analyst. No go that time.

 

Neither experience resulted in anything but a positive interaction with BofA. No AA, no follow up review, just a yes and a no.

 

I have also read on here where people get increases to 40K or more and they don't use the card that much.

 

 

Message 9 of 11
Anonymous
Not applicable

Re: B Of A CLI denied....

Hello All-

I have an issue and I'm wonder if its worth calling the "recon number" too.  I was just approved for a cash reward card from B of A for $1000,  I have banked with them for years and have another cc with them with a CL of $6500.  I was denied for a CLI on the cash reward card b/c I have two federal tax liens from 2014, but I have the paperwork showing that both have been released.  Is it worth me calling the recon number?  If, yes, how do I find that contact number?  Thanks in advance for any help provided!

Message 10 of 11
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