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Re: Bank of America big CLIs with high utilization

Congrats! BofA is amazing when it comes to CLI's. I can also confirm that BofA really likes BT's, my biggest CLI's with BofA was when I had BT's on the card.

Gardening until September 2018
Next app: Mortgage in September 2018
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Posts: 2,032
Registered: ‎03-03-2015

Re: Bank of America big CLIs with high utilization


K-in-Boston wrote:

Preparing to do some BT shuffling and noticed that the BankAmericard Platinum Plus the analyst talked me into opening back in November had the Request A Credit Line Increase button.  Normally, I wouldn't even think of hitting it that soon but BOA has been good to me this year so I thought why not - just one more INQ on TU won't kill me.  Instant 80% increase from $12,000 to $21,600 on a card with almost $10k of 0% BT sitting on it, or about 82% util.  (Asked for $25k.)

 

I took the HP on Jan 1 for my Travel Rewards VS (used to be an MBNA card until 11 years ago) and they doubled it from $8,100 to $16,200 with about $5500 of 0% BT on it, or about 70% util.  (Asked for $25k.)  Decided after that happened that my wife should give hers a shot (I am an AU) on her alumni Platinum Plus, and with 80% utilization from a 0% BT she went from $25k to $40k (asked for $50k).  

 

So, 70-82% util and $32,700 in CLIs in 2 months!  BOA seems to really like heavy BT utilization! 


Congrats on the crazy CLI's. BoA has been farily generous with the two HP CLI's I've asked for ($500 to $2,300, to $6,300).

 

Quick math in my head says you have over $37,000 of credit card debt right now? Ouch. Your balance transfer situation would keep me up at night, lol.



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/1/17): 727 EQ 748 TU 731 EX
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Registered: ‎11-19-2016

Re: Bank of America big CLIs with high utilization


DeeBee78 wrote:

Quick math in my head says you have over $37,000 of credit card debt right now? Ouch. Your balance transfer situation would keep me up at night, lol.


Oh, if only!  Currently just over $35k with BOA alone (a few payments have been made on those two accounts that got the earlier increases).  Another $53k on other revolvers and we won't even get into personal/student/auto loans and mortgage.  I've posted about it before, but basically we had bad timing with having huge balances when the markets went bad.  Due to rate jacking and balance chasing (which then caused most other lenders that had not done it yet to do the same), we quickly found ourselves paying enormous interest and getting nowhere on the balances for the better part of a decade.  It still amazes me that not only did we not file BK, but were never even late.

 

By doing a lot of creative balance shuffling, refinancing some loans and significantly improving our card portfolio, we've managed to cut over $30k in just the past 16 months without really paying any more each month on the balances - and I credit this board with helping me do that.  In 4 or 5 years, the non-mortgage debt should be completely gone.


450k+ club. | FICO 08 [August 2017]: EQ 746 EX 735 TU 733 | Repeat garden bronze spade offender.
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Re: Bank of America big CLIs with high utilization


K-in-Boston wrote:

DeeBee78 wrote:

Quick math in my head says you have over $37,000 of credit card debt right now? Ouch. Your balance transfer situation would keep me up at night, lol.


Oh, if only!  Currently just over $35k with BOA alone (a few payments have been made on those two accounts that got the earlier increases).  Another $53k on other revolvers and we won't even get into personal/student/auto loans and mortgage.  I've posted about it before, but basically we had bad timing with having huge balances when the markets went bad.  Due to rate jacking and balance chasing (which then caused most other lenders that had not done it yet to do the same), we quickly found ourselves paying enormous interest and getting nowhere on the balances for the better part of a decade.  It still amazes me that not only did we not file BK, but were never even late.

 

By doing a lot of creative balance shuffling, refinancing some loans and significantly improving our card portfolio, we've managed to cut over $30k in just the past 16 months without really paying any more each month on the balances - and I credit this board with helping me do that.  In 4 or 5 years, the non-mortgage debt should be completely gone.


Best of luck to you! I know how crazy expensive Boston is, so it can be hard to get ahead. I almost went to college there, but while tuition was only about $12,000 a year, living expenses were at least twice that. 



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/1/17): 727 EQ 748 TU 731 EX
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Re: Bank of America big CLIs with high utilization

[ Edited ]

K-in-Boston wrote:

Preparing to do some BT shuffling and noticed that the BankAmericard Platinum Plus the analyst talked me into opening back in November had the Request A Credit Line Increase button.  Normally, I wouldn't even think of hitting it that soon but BOA has been good to me this year so I thought why not - just one more INQ on TU won't kill me.  Instant 80% increase from $12,000 to $21,600 on a card with almost $10k of 0% BT sitting on it, or about 82% util.  (Asked for $25k.)

 

I took the HP on Jan 1 for my Travel Rewards VS (used to be an MBNA card until 11 years ago) and they doubled it from $8,100 to $16,200 with about $5500 of 0% BT on it, or about 70% util.  (Asked for $25k.)  Decided after that happened that my wife should give hers a shot (I am an AU) on her alumni Platinum Plus, and with 80% utilization from a 0% BT she went from $25k to $40k (asked for $50k).  

 

So, 70-82% util and $32,700 in CLIs in 2 months!  BOA seems to really like heavy BT utilization! 


Yeah, this gardening thing hasn't been completely working out.  Oops.  Bolded the card in question - the button came back for it.  I just asked for $32k and they gave me $26,800 - another $10,200 CLI.  So that's more than a 3x increase since January 1st on that card, and a total of $42,900 in BOA CLIs since January 1st.  TU is 737 (dropped 2 points when Navy card reported over the weekend - new PenFed card, SPG, Slate and NFCU CLOC are not yet reporting).  Utterly shocked.  Smiley Surprised


450k+ club. | FICO 08 [August 2017]: EQ 746 EX 735 TU 733 | Repeat garden bronze spade offender.
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Posts: 234
Registered: ‎05-06-2008

Re: Bank of America big CLIs with high utilization

[ Edited ]

K-in-Boston wrote:

K-in-Boston wrote:

Preparing to do some BT shuffling and noticed that the BankAmericard Platinum Plus the analyst talked me into opening back in November had the Request A Credit Line Increase button.  Normally, I wouldn't even think of hitting it that soon but BOA has been good to me this year so I thought why not - just one more INQ on TU won't kill me.  Instant 80% increase from $12,000 to $21,600 on a card with almost $10k of 0% BT sitting on it, or about 82% util.  (Asked for $25k.)

 

I took the HP on Jan 1 for my Travel Rewards VS (used to be an MBNA card until 11 years ago) and they doubled it from $8,100 to $16,200 with about $5500 of 0% BT on it, or about 70% util.  (Asked for $25k.)  Decided after that happened that my wife should give hers a shot (I am an AU) on her alumni Platinum Plus, and with 80% utilization from a 0% BT she went from $25k to $40k (asked for $50k).  

 

So, 70-82% util and $32,700 in CLIs in 2 months!  BOA seems to really like heavy BT utilization! 


Yeah, this gardening thing hasn't been completely working out.  Oops.  Bolded the card in question - the button came back for it.  I just asked for $32k and they gave me $26,800 - another $10,200 CLI.  So that's more than a 3x increase since January 1st on that card, and a total of $42,900 in BOA CLIs since January 1st.  TU is 737 (dropped 2 points when Navy card reported over the weekend - new PenFed card, SPG, Slate and NFCU CLOC are not yet reporting).  Utterly shocked.  Smiley Surprised


Congrats on your latest CLI!!  I can only hope that BOA will be that generous with me in the future!  My poor little card has remained at the $500 starting limit since 2014!  LOL!  I'm not suprised though since I have an discharged BK13 still reporting.  I'm gardening until it falls off and my score improves and then hopefully they will share the love.  On a positive note, BOA is my primary bank and my investments are with Merrill Lynch.  I am a platinum plus client with a high salary, significant investment balances and no debt other than my SUV.  Once the BK falls off, I can see great things happening!!  Just wish they weren't so HP crazy for CLI requests!

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

From the sounds of it, they are going to absolutely love you once that falls off. I know you're gardening, but have you considered opening a large (maybe $5k+) secured credit card? I'm not really rebuilding but I have been quagmired in the low 700s for over a decade due to high utilization, and as my limits have grown huge the past year and a half, I've noticed that high limits really do beget high limits in most cases. Finally hit a lifetime high point of 745 EQ08 today and if I could just stay in the garden and stop opening new accounts for a bit, 800 is finally in reach. But the reason I brought it up is that BOA really likes to be one of your largest lines and that may encourage them to grow yours even with the BK.

450k+ club. | FICO 08 [August 2017]: EQ 746 EX 735 TU 733 | Repeat garden bronze spade offender.
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Registered: ‎11-19-2016

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

The insanity continues... I'm in the garden, but my wife is not.  $20k CLI to $60,000 on her alumni Platinum Plus!!! Asked for $75,000 and got instant counter-offer.  TU 772, 200k+ income, probably about 6 INQs and 8 new accounts in 2 years (4 as AU).  Starting to think BOA hard pulls are like SPG points - they're worth at least 3 of the competitor's.


450k+ club. | FICO 08 [August 2017]: EQ 746 EX 735 TU 733 | Repeat garden bronze spade offender.
Established Contributor
Posts: 820
Registered: ‎10-12-2016

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

[ Edited ]

K-in-Boston wrote:

The insanity continues... I'm in the garden, but my wife is not.  $20k CLI to $60,000 on her alumni Platinum Plus!!! Asked for $75,000 and got instant counter-offer.  TU 772, 200k+ income, probably about 6 INQs and 8 new accounts in 2 years (4 as AU).  Starting to think BOA hard pulls are like SPG points - they're worth at least 3 of the competitor's.


FYI

You can use the same hard pull for another card cli or for another product for 30 days Smiley Happy. I have done it a few times. I waited until both of my cards have the CLI button and done it all together Smiley Happy

Senior Contributor
Posts: 8,938
Registered: ‎04-23-2016

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

Thats crazy good, since Boa usually Rocks around these here parts, im gonna go out on a limb and say her cli approval was a ....Diamond...in the ruffSmiley Happy

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