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BankAmericard Credit Limit increase

New Member

BankAmericard Credit Limit increase

I have the Cash Rewards card. They tentatively gave me $1,000 limit last year March so it's been almost a year, and I've waited this long on purpose, and made no other inquiries. I've had activity (gas and tuition, mostly) and pay way over the minimum, often PIF. It's got a no-interest introductory offer that'll expire after the first year is up.

 

I do have a collection around $200 on my report, and student loans of 20K. My oldest credit card is a JCPenney with limit $2300, only 4.5 years old, and this BankAmericard is my only "major" card. I've been a LOONG time savings/checking customer of theirs as well - anyone know if that makes a difference? Or if how much money you have in your account makes a difference?

 

I plan on asking for $500 more, maybe even just $300. I wanna be conservative to maximize my chances of getting approved, cause I HATE a wasted pull.

 

So I've been back and forth reading different things online and I seem to get different answers. Does anyone know definitively whether Bank of America does a HP or SP? Does it matter whether you're over the phone or online? I spoke with a representative on the phone who said hard pull, but people here have gotten soft. The rep assumed I'd be over the phone though, so online may be different. Or is it as haphazard as it seems, one of those YMMV things?

 

Thanks!

Message 1 of 16
15 REPLIES
Frequent Contributor

Re: BankAmericard Credit Limit increase

You should get a 2k more cli.Go for it and good luck


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Message 2 of 16
Established Contributor

Re: BankAmericard Credit Limit increase

I just got a CLI from $800 to $5,000 in December on my Cash Rewards card. My account was a little over a year old and I had zero inquiries on TU but one card reporting a balance. They did do a HP, and it was TU.

 

After I requested it, it told me to call in for a decision. I didn't, but checked the next morning and to my amazement they approved it for the full $5000 that I asked for.

 

If you're going to request a CLI, I'd go all out since it's going to be a HP. There have been people getting increases with SP, but they are the exception...you should go in prepared for a HP, and be thankful if you get a SP. I asked for $5000, never thinking I'd get it, but figured they would counter and I'd get the max CL that I qualify for...I couldn't believe it when they approved the full $5000. I wish I asked for more.

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Message 3 of 16
Frequent Contributor

Re: BankAmericard Credit Limit increase


FloridaState12 wrote:

I just got a CLI from $800 to $5,000 in December on my Cash Rewards card. My account was a little over a year old and I had zero inquiries on TU but one card reporting a balance. They did do a HP, and it was TU.

 

After I requested it, it told me to call in for a decision. I didn't, but checked the next morning and to my amazement they approved it for the full $5000 that I asked for.

 

If you're going to request a CLI, I'd go all out since it's going to be a HP. There have been people getting increases with SP, but they are the exception...you should go in prepared for a HP, and be thankful if you get a SP. I asked for $5000, never thinking I'd get it, but figured they would counter and I'd get the max CL that I qualify for...I couldn't believe it when they approved the full $5000. I wish I asked for more.


Well i was wondering whats the PO score is


COMMERCE BANK PLATINIUM VISA 20K*PAYPAL MC $9.5K*CITI FORWARD $8.5K*PENFED $6,5K*
*LOWES $6K *CMN BANK $5.2K-*PNC $5K*SCLUB DISC. $5K*
WMART DISC.4K*CMN BANK 3.75K*BANK OF AMERICA $3K* MACYS $2.2K*
JCP $1.8*TARGET $0.7K* UTL1%- AAOA 5.5- TOTAL 12 yrs History/
Transunion 718 Equifax 733- Experian 736
Message 4 of 16
Valued Contributor

Re: BankAmericard Credit Limit increase

It will be a hard pull whether you get an increase or not so I say go high with your credit limit increase request, and you know you can always speak with a credit analyst which will either counter offer if your request for the certain requested is not granted.  Good Luck


Starting Score: EQ 546 TU 566
Current Score: EQ 693TU 08 729 EX 08 738Need to Garden/New Accounts
Goal Score: 800
Message 5 of 16
New Member

Re: BankAmericard Credit Limit increase

I have the BankAmericard rewards card and attempted a CLI request at 5k. They counter offered to a different number that I was happy with... so that can always happen to younas well. I don't use that card as much, but happy to see they still increased it. I've PIF or kept my balances very low the past few months so I think that contributed. They also did a HP, just so ya know. 

 

Good luck! 

My Cards:
AMEX Platinum
Chase Sapphire Preferred
Chase Freedom
BofA BankAmericard Rewards

Message 6 of 16
Regular Contributor

Re: BankAmericard Credit Limit increase

BofA is a hardpull every time. Even if you request it online. But they're good with CLIs, always giving me whatever increase I ask for. They said I'm eligible for a Visa Sig, I just need to formally request the increase to $5000 so that I can PC, but I already have 2 HPs on my TU from them, and they won't be gone for a year. Not worth it for me.

 

But for you, I say go for it.

Current Cards: AMEX Everyday ($15k), AMEX BCE ($20k), Amex Platinum, Arrival ($11.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($6.5k)

2/16 - 864 Fico EQ (CITI); 818 Fico Ex (AMEX)
Message 7 of 16
Contributor

Re: BankAmericard Credit Limit increase

I agree with the others, ask for a generous CLI.  My card started out at $5000 (not sure how I pulled that one off!) then requested a CLI a little over a year later.  I had been a customer with them for about 4 years, have a checking and savings with them too.  I requested online, it told me to call, but I didn't.  The next morning I got a call on my cell from a rep asking me a few questions (what do you need it for, income, length at job, etc).  He gave me a $3000 increase.  It doesn't hurt to try, especially since it seems you're really good with the credit you have now. 

 

Good luck!


Starting Score: 01/2010 EQ 610 TU 737
Current Score: EQ 662 TU 672
Goal Score: EQ 700 TU 700


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Message 8 of 16
Regular Contributor

Re: BankAmericard Credit Limit increase

 

put all your money into checking with them, than ask for that increase. I would not ask for less than 4k ,big maybe 3k. My credit is  a little over 2 and a half years old, my 123 card is at 12k right now, I started with 500 limit....

BOA Cash Rewards Visa Sig. 12K; BOA Travel Rewards Visa Sig 5K, US Bank Cash+ 11.5K, AMEX BCE 6200, AMEX BLUE Sky 7K, Chase Freedom Visa Sig. 5400, Fort Knox FCU Visa Platinum 2500; CAP ONE Cash Rewards WORLD MC 5K

Starting Score: 580
Current Score: 747
Goal Score: 800+


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Message 9 of 16
Regular Contributor

Re: BankAmericard Credit Limit increase

It's definitely YMMV with Bank of America.  I have had several CLIs and so has DW - never a hard pull doing it online.  They generally soft pulled EX, but have seen the soft on EQ sometimes, too.

Message 10 of 16