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Re: Bank of America big CLIs with high utilization [UPDATED 4/17]


bruisedcredit wrote:

Update: I had been mulling over hitting that request a credit line increase button for the past few weeks. Wanted to apply for Alliant 3% cash back visa siggy first before I hit the button. Received denial notice from Alliant this afternoon Smiley Frustrated But didn't let that get me down much. Knew I probably could count on BOA coming through so with that hit button and put a request for $30k they countered with $26k! That's a $10k increase from my previous limit of $16,600. Card started at $2,500 SL then went to $6,500 then $16,600 and now $26,000 all in less than 1 year via hp's of course but well worth it! I have been carrying a balance of $7500 plus for the past 3 months or so due to some very nice BT offers. Now to decide if I will go for a 2 for 1 with the same pull. Was considering the travel rewards card any thoughts?


First off, very glad to hear about another huge CLI - congrats and sorry Alliant didn't work out.   You merged a Merrill card into your Cash Rewards, right?  Do you have any status with BOA/ML/ME?  (Sadly I only get the 10% bonus.)   Together, Cash and Travel can be a VERY powerful combo if you have preferred status and are good with reimbursing yourself for travel.  If you're looking for a good balance transfer offer (with no fee early on) and a lower APR, the new Chase Slate BankAmericard is a great choice.  Anecdotal evidence seems to show that SLs don't seem to be based on the card type for the standard BOA cards so likely the Travel Rewards wouldn't have a larger SL than a BankAmericard if your reasoning for the TR was for a higher SL.  Considering your patterns, I would be surprised to not see an instant approval for $7500-$12k for either of those cards.  And of course there is a world of cobranded BOA cards to choose from.


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Re: Bank of America big CLIs with high utilization [UPDATED 4/17]

[ Edited ]

K-in-Boston wrote:

bruisedcredit wrote:

Update: I had been mulling over hitting that request a credit line increase button for the past few weeks. Wanted to apply for Alliant 3% cash back visa siggy first before I hit the button. Received denial notice from Alliant this afternoon Smiley Frustrated But didn't let that get me down much. Knew I probably could count on BOA coming through so with that hit button and put a request for $30k they countered with $26k! That's a $10k increase from my previous limit of $16,600. Card started at $2,500 SL then went to $6,500 then $16,600 and now $26,000 all in less than 1 year via hp's of course but well worth it! I have been carrying a balance of $7500 plus for the past 3 months or so due to some very nice BT offers. Now to decide if I will go for a 2 for 1 with the same pull. Was considering the travel rewards card any thoughts?


First off, very glad to hear about another huge CLI - congrats and sorry Alliant didn't work out.   You merged a Merrill card into your Cash Rewards, right?  Do you have any status with BOA/ML/ME?  (Sadly I only get the 10% bonus.)   Together, Cash and Travel can be a VERY powerful combo if you have preferred status and are good with reimbursing yourself for travel.  If you're looking for a good balance transfer offer (with no fee early on) and a lower APR, the new Chase Slate BankAmericard is a great choice.  Anecdotal evidence seems to show that SLs don't seem to be based on the card type for the standard BOA cards so likely the Travel Rewards wouldn't have a larger SL than a BankAmericard if your reasoning for the TR was for a higher SL.  Considering your patterns, I would be surprised to not see an instant approval for $7500-$12k for either of those cards.  And of course there is a world of cobranded BOA cards to choose from.


Thanks so much K-in-Boston! That is correct did the reallocation of Merrill Lynch into a Cash Rewards in May but unfortunately I have no preferred accounts with Merrill Lynch even when I had applied for the Merrill Lynch + back when they where running 50,000k bonus points for $3k spend I completely missed out on the bonus reasoning for ditching the card. I am looking for a good travel card alternative to compliment my Chase Hyatt. I want to eventually close my Ritz Carlton due to the step AF. Also that BankAmericard would give me another BT alternative to my Barclay Ring which although has the nice Apr 8.75 % but I find them very difficult to get decent cli's. I think the BOA cash and Travel combo would work very well for me. Might have to pull the trigger on that one but what would be some of the BOA co branded cards you speak of?

FICO8 Scores 8/19/2017: TU8:~714 EQ8:~704 EX8:~746
Inquires TU: ~10 EQ:~11 EX:~15
April 2015:Total Revolving CL$1,900----->August 2017:Total Revolving CL $300k+club
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Re: Bank of America big CLIs with high utilization [UPDATED 4/17]

I have a measly secured card that will graduate (hopefully) in October.  What should I expect for CL growth?

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Re: Bank of America big CLIs with high utilization [UPDATED 4/17]

bruisedcredit: https://www.bankofamerica.com/credit-cards/travel-credit-cards/

Some of these like Alaska are known for larger SLs.

 

ccpat: CL growth would depend on a lot of factors: history with the card, your credit score and report, income, etc... Difficult to even speculate without more info.  There certainly have been reports of solid growth with previously secured BOA cards.


400k+ club. | FICO 08 [June 2017]: EQ 745 EX 745 TU 735 | Repeat garden bronze spade offender.
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Re: Bank of America big CLIs with high utilization [UPDATED 4/17]

[ Edited ]

Thanks K--in-Boston for the link. Mulled over each card and was going for the Alaskan Airlines but something kept drawing back towards the Merrill Lynch Visa Siggy + with 50,000 MR points for $3k spend a n 90 days. Applied over the phone yesterday with a rep and it went pending. Checked the application status line this morning and it was approved but I had to call cs to get the rest of my details. Approved for $10,000 SL with a 15.99 Apr!  Ironically applied for the travel rewards on same day as the cli request and was instantly denied. So in detail applied for a cli on my Cash Rewards and received $10k increase usd the same pull for the Merrill Lynch app and received $10k SL. So all totaled $20k for a single pull! Got to love um at BOA and thanks K-in-Boston, JoeLuvsHisCredit and many others in this forum for insight and inspiration Smiley Wink

FICO8 Scores 8/19/2017: TU8:~714 EQ8:~704 EX8:~746
Inquires TU: ~10 EQ:~11 EX:~15
April 2015:Total Revolving CL$1,900----->August 2017:Total Revolving CL $300k+club
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Re: Bank of America big CLIs with high utilization [UPDATED 4/17]


bruisedcredit wrote:

Thanks K--in-Boston for the link. Mulled over each card and was going for the Alaskan Airlines but something kept drawing back towards the Merrill Lynch Visa Siggy + with 50,000 MR points for $3k spend a n 90 days. Applied over the phone yesterday with a rep and it went pending. Checked the application status line this morning and it was approved but I had to call cs to get the rest of my details. Approved for $10,000 SL with a 15.99 Apr!  Ironically applied for the travel rewards on same day as the cli request and was instantly denied. So in detail applied for a cli on my Cash Rewards and received $10k increase usd the same pull for the Merrill Lynch app and received $10k SL. So all totaled $20k for a single pull! Got to love um at BOA and thanks K-in-Boston, JoeLuvsHisCredit and many others in this forum for insight and inspiration Smiley Wink


From $2500 to $36k+ in such a short time - that is a huge accomplishment!  Congrats are certainly in order, although I agree the Travel Rewards decline is strange indeed.


400k+ club. | FICO 08 [June 2017]: EQ 745 EX 745 TU 735 | Repeat garden bronze spade offender.
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Re: Bank of America big CLIs with high utilization [UPDATED 6/17]

Hey guys - looking for some feedback on a CLI from BoA. I just pulled the trigger on the Bankamericard (0% apr, 0% fee BT offer was too good to pass up.) Initial limit is 12K, but the balance I need to transfer is 11K. My total utilization across all cards is less than 10%, but I'm worried about maxing out an individual card. After reading through this thread, it sounds like BoA is fairly generous with CLIs, so requesting more credit seems like a good option for me.

 

The question is, how long should I wait after opening the account to request a CLI? And, should I request the CLI before or after I transfer the balance? I activated the card on 8/12, and I have until 10/1 to make the transfer.

 

Thanks in advance!

Amex Platinum | Amex SPG | Amex Delta Platinum | Amex BCE | BoA BankAmericard | Chase Sapphire Reserve | Chase Ink Preferred | Chase Freedom | Citi DoubleCash | Citi Anywhere Costco
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Re: Bank of America big CLIs with high utilization [UPDATED 6/17]

manco, congrats on the $12k SL.  That's the same as mine when I opened it in November.  I'm not sure how BOA is with immediate CLIs, but I can tell you that my BankAmericard was opened in November at $12k, I got a CLI to $21,600 in February and a CLI to $34,600 in June.  Looking at the dates they were spaced just over 3 months apart (106 days after opening, then 96 days later), and the Request a Credit Line button is back but I am trying not to ask until next year when I ask on all 3 of my cards before combining them.  I know from speaking with an analyst that BOA is not at all concerned with individual util on their cards when doing a BT and you would likely be able to get a CLI to negate that util when the buton shows up on your account.  But the choice to put $11k on a $12k card is ultimately yours.  You may lose some points temporarily, but they'll rebound quickly as you pay the card down.  I'd try to keep the card below the 90% threshhold (with rounding, that means you'd probably want to stay around $10,500) so that it's not completely maxed.  Just having a single card at high util shouldn't freak Citi, Chase and Amex out.  If you have other cards besides those in your signature, you may want to take that into consideration.


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Re: Bank of America big CLIs with high utilization [UPDATED 6/17]

[ Edited ]

Update: I call this the thread that just keeps on giving lol. Logged into my boa account to make a payment on my cash rewards and noticed that my not yet activated Merrill Lynch Visa had the ( request a credit line increase) already starring me in the face. Couldn't believe it as I was always under the assumption it wouldn't appear at least until after the 90 mark. Well, they didn't have to ask me twice, hit the button requested $30,000 and received another $7,000! bringing the Merrill Lynch credit line to $17,000 Wow! Should be the same hp from last week. To top things off Boa sent me a letter stating they would also be requesting a deletion of a hp back in May for a credit line reallocation mistake they made. I am loving some BOA right now Smiley Wink

FICO8 Scores 8/19/2017: TU8:~714 EQ8:~704 EX8:~746
Inquires TU: ~10 EQ:~11 EX:~15
April 2015:Total Revolving CL$1,900----->August 2017:Total Revolving CL $300k+club
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Re: Bank of America big CLIs with high utilization [UPDATED 6/17]

That is amazing!  Congrats on that amazing CLI so early and I'm glad the thread keeps giving for everybody (even Khalifa_Jayy for a change!).

 

I have several BOA CLI links tainting me from the garden.  Must.  Stay.  In.  Garden.


400k+ club. | FICO 08 [June 2017]: EQ 745 EX 745 TU 735 | Repeat garden bronze spade offender.

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