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CLI Question

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Anonymous
Not applicable

CLI Question

Hi everyone,

 

Just discovered this place recently while searching for a new card and there has been lots of good stuff on here!

 

Over the past month I went on an app spree, which was pretty exciting (first time!)...got instant approvals for 4/4 cards below with pretty good CLs comapred to my older cards. My oldest cards are a bofa visa and amex that I sparingly use once every few months, but I've kept them since they are my oldest cards with no AF - they've never given me an auto-CLI and I've never asked for one before.

My question is if I should bite the bullet and ask for a CLI now on my bofa cards or wait it out for my new cards to age to avoid too many inquiries at once.

 

From what I've read bofa only dose HP CLIs and usually pulls TU (which I don't have any inq on)?

I'm in no rush and don't need the CLI as I minimally use those cards. No anticipated auto or mortage loans in the near future...the earliest would be 2016. Just thought that since my new cards have given me much higher CL that it might be worthwhile to raise my older CL for score purposes. But I definitely don't want to raise red flags among my new lenders.

 

Thanks for your help!

Message 1 of 11
10 REPLIES 10
MAstudent07
Contributor

Re: CLI Question

I would recommend the hp if BOA is willing to make a decision on both accounts using the same pull, that would be the ideal. If BOA says no andI had to choose between the two I would definitely ask for the increase on the Visa account. I trust you will make a wise decision. Best of luck.
Amex BCE| BOA CB| Freedom| Citi DC| Discover It|
Message 2 of 11
Burned2manybridgesB4
Valued Contributor

Re: CLI Question


@Anonymous wrote:

Hi everyone,

 

Just discovered this place recently while searching for a new card and there has been lots of good stuff on here!

 

Over the past month I went on an app spree, which was pretty exciting (first time!)...got instant approvals for 4/4 cards below with pretty good CLs comapred to my older cards. My oldest cards are a bofa visa and amex that I sparingly use once every few months, but I've kept them since they are my oldest cards with no AF - they've never given me an auto-CLI and I've never asked for one before.

My question is if I should bite the bullet and ask for a CLI now on my bofa cards or wait it out for my new cards to age to avoid too many inquiries at once.

 

From what I've read bofa only dose HP CLIs and usually pulls TU (which I don't have any inq on)?

I'm in no rush and don't need the CLI as I minimally use those cards. No anticipated auto or mortage loans in the near future...the earliest would be 2016. Just thought that since my new cards have given me much higher CL that it might be worthwhile to raise my older CL for score purposes. But I definitely don't want to raise red flags among my new lenders.

 

Thanks for your help!

 

My stats:

FICO EX 751 (after all my apps)

 

Inquiries (besides the new cards, which all pulled EX):

TU: none

EQ: 2 (> 1 year ago)

EX: 1 (> 1 year ago)

 

New cards:

Amex SPG 14k

Freedom 8k

CSP 10k

Discover it 6k

 

Old cards:

Bofa visa 2k

Bofa amex 5k

Citi TYP 9k

Chase SW 7k


Make sure that your newer additions are reporting to your CRAs, before the HP CLI for BOA. Go for it, I say.

Message 3 of 11
takeshi74
Senior Contributor

Re: CLI Question


@Anonymous wrote:

I'm in no rush and don't need the CLI as I minimally use those cards.


Would CLI's not improve your utilization?

Message 4 of 11
Anonymous
Not applicable

Re: CLI Question

Thanks for the input everyone! I decided to give it a shot and asked for a  CLI to 15k yesterday. I got the 7-10 day message at which point I thought they would decline me or give me a low counter offer, but checked today and they approved me for the full 15k! Definitely worth the HP.  And to top it off Chase gave a a "no hassle no inquiry" increase on my SW card form 7 -> 12k. Smiley Very Happy

Message 5 of 11
coldnmn
Mega Contributor

Re: CLI Question

Congrats!  Welcome to the forum and thanks for sharing.

 

 

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 6 of 11
Tony275
Valued Contributor

Re: CLI Question

Very nice profile and even better results for the app spree and CLIs!!

Starting Score: (June 2014) TU08: 663 | EQ04: 640 | EX08: 685
Current Score: TU08: 757 | EQ04/08: 757/758 | EX08: 761
Goal Score: 800 across the board

Total Credit Line - $186,050 | Utilization - 16.8%
Message 7 of 11
gdale6
Moderator Emeritus

Re: CLI Question


@Anonymous wrote:

Thanks for the input everyone! I decided to give it a shot and asked for a  CLI to 15k yesterday. I got the 7-10 day message at which point I thought they would decline me or give me a low counter offer, but checked today and they approved me for the full 15k! Definitely worth the HP.  And to top it off Chase gave a a "no hassle no inquiry" increase on my SW card form 7 -> 12k. Smiley Very Happy


Congrats Smiley Happy

Message 8 of 11
Anonymous
Not applicable

Re: CLI Question

Thanks! Another question...anyone have experience with doing a product change with BofA?

I'm in their archaic rewards program which has horrible redemption values, but was thinking of switching to either the 123 or BB cards. I called and the CSR verified that I'm eligible to switch and would retain the same card history/APR/credit limit, but that I would get a new account number. Does anyone know if it would report as a new account or if it would report with the card opening date of my original card?

Message 9 of 11
Kenny
Moderator Emeritus

Re: CLI Question


@Anonymous wrote:

Thanks for the input everyone! I decided to give it a shot and asked for a  CLI to 15k yesterday. I got the 7-10 day message at which point I thought they would decline me or give me a low counter offer, but checked today and they approved me for the full 15k! Definitely worth the HP.  And to top it off Chase gave a a "no hassle no inquiry" increase on my SW card form 7 -> 12k. Smiley Very Happy


Congratulations on your CLI! Smiley Happy Thanks for sharing.

Message 10 of 11
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