Yeah NOT going to happen BofA!

[TRC_WA]

Hahah...

I fully expect to get a $500 card whenever I get in the door with BofA and Chase... Citi too.

I'll take it too... just like I took the $1500 Discover when my other cards were $5k-$10k.

No entitlement here... I'll be on my hands and knees actually.

[SEBanker]

Bank of America has always been a very risk centric organization.  All of their processes and procedures are very centralized and focused on managing every type of risk imagineable. They are not big on delegation and empowering team members to make decisions or to do what's right for the customer outside of a very narrow set of parameters. The card division, which is largely the old MBNA, is managed the exact same way.  Their decisioning systems decide your fate! You can appeal to a credit analyst but they have only so much room to move.  This is because banks live in fear of the U.S. Government and suffocating regulation they must operate under. In this case the Fair Lending Act. A bank would much rather turn you down than to find themselves on the wrong side of a fair lending violation. And this is how they control their lenders. These lenders can make exceptions BUT....they had better be for good reason and they had better document those reasons. And guess what? If lender makes to many exceptions then they suffer a financial penalty, a poor scorecard/performance evaluation, and are subject to termination. So....when you call in to ask that an exception be made you are sometimes talking to someone who doesn't have the authority to override a certain application, someone who can't afford to make another exception ( their own job could be on the line), or someone who just doesn't care or has a difficult time making decisions outside of the box.  Hope this helps!

[CreditMagic7]

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@SEBanker wrote:

 If lender makes to many exceptions then they suffer a financial penalty, a poor scorecard/performance evaluation, and are subject to termination. So....when you call in to ask that an exception be made you are sometimes talking to someone who doesn't have the authority to override a certain application, someone who can't afford to make another exception ( their own job could be on the line), or someone who just doesn't care or has a difficult time making decisions outside of the box.  Hope this helps!

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Very concise explaination. Refreshing.

Also describes my own experience rather nicely with Barclays Recon dept

[Anonymous]

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@Anonymous wrote:

I get this mailer from BofA for what one of their best credit cards with 0 intro APR for 21 billing cycles and 12.99 after that. So I thought what the heck I'd apply. My Fico scores right now are 750+ on all three, and I have no derogatories on my credit report, my lowest credit card limit is $2000 and highest is $21,500. I applied online and  I get this Congratulations you're approved with a $500 credit limit. I'm like what the?? I called them right away and let them know how rediculous it was and cancelled it. I know I'll get the hard pull and it'll probably affect my AAoA but I'm not accepting a crappy limit like that.

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WHAT in the FROZEN HELL???

Are you kidding me??? With your scores and profile, they should have at least given you a minimum of $5k! 500 peanuts is a JOKE!!

Give them hell Flash!!!!! 

[capitalkid]

I go with higher limits beget higher SL's. However I don't think every card in the profile needs to be a HL.

With BOA a quick 6 months @ 500$ and a HP later would most likely have resulted in an easy 10k line, then 6 mo later 16k and so on...

I recently applied,- they don't do BK -and even though it falls off next month they don't care. denied.

DH moved all but 500$ off his cash rewards to his travel rewards to make a 12k limit last year. spend 5$ or so in it every 4 months to keep it active as it has 2 years more account history on it. Last month he got approved for Venture at 15k .

i think it just a matter of showing a few higher limits in the begetting higher limits theory.

good luck.

[JoshNurse]

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@Anonymous wrote:

I get this mailer from BofA for what one of their best credit cards with 0 intro APR for 21 billing cycles and 12.99 after that. So I thought what the heck I'd apply. My Fico scores right now are 750+ on all three, and I have no derogatories on my credit report, my lowest credit card limit is $2000 and highest is $21,500. I applied online and  I get this Congratulations you're approved with a $500 credit limit. I'm like what the?? I called them right away and let them know how rediculous it was and cancelled it. I know I'll get the hard pull and it'll probably affect my AAoA but I'm not accepting a crappy limit like that.

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I would have kept it.  Mine also started at $500 a long time ago. Got to $1500 automatically.  I raised it to $5k and they raised it to $10k.  I currently have it at $15,000.

[GetMeSlick]

How does it grow? anytime i ask for CLI on my cash rewards card, they say, they wanna do HP for CLI.

[Anonymous]

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@capitalkid wrote:

I recently applied,- they don't do BK -and even though it falls off next month they don't care. denied.

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Did you have a relationship with them outside of the CC you were applying for?

We are their preferred customer and they gave us a 1K starting limit with a BK on file. Granted my wife does not have any other baddies besides the BK on her file. After feedback from folks here I am excited for the future growth it will see.