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BOA CLI Question *Update*

Frequent Contributor

BOA CLI Question *Update*

I just paid off majority of the card. i owe 339/1000. I need to pay my tuition for a class the cost is $975. I have it in cash but i would like to put it on a card to earn points. Should i call the backdoor number for an increase??? My util is 15% but this has not posted to my credit reports yet since i just paid it.

Thank you.

Message Edited by goodgirl-badcredit on 02-08-2010 10:58 AM
Message Edited by goodgirl-badcredit on 02-15-2010 02:47 PM

Starting Score: 3/21 EQ 636 TU 669
Current Score: 12/30 EQ 740 TU 712 EX ??? ....
Goal Score: Yay... I reached my goal of 700!!!


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Message 1 of 12
11 REPLIES
Super Contributor

Re: BOA CLI Question


goodgirl-badcredit wrote:

I just paid off majority of the card. i owe 339/1000. I need to pay my tuition for a class the cost is $975. I have it in cash but i would like to put it on a card to earn points. Should i call the backdoor number for an increase??? My util is 15% but this has not posted to my credit reports yet since i just paid it.

Thank you.

Message Edited by goodgirl-badcredit on 02-08-2010 10:58 AM

Take $339 from the cash you have in hand to pay the card in full.  After doing that, charge your tuition to the card and take the $636 you have left from the cash to pay the balance to BOA.   

Message 2 of 12
Established Contributor

Re: BOA CLI Question

i personally wouldnt call them , Try the luv button and see what results you get from it . Worse case they will call you and explain to them the reason of your needing the increase. IF all that fails then Follow DI advice.  I have had good luck with BOA . I have carried a balance , i have PIF and have yet to see any adverse reactions from them . Nothing but CLI's from 1k to 3.5k in less than 1 yr 6 months.   YMMV

 

either way good luck!

Message 3 of 12
Senior Contributor

Re: BOA CLI Question

BoA allows overpayment.  Just pay the entire amount of cash in hand to your CC, then charge your tuition.  The CC will charge, then adjust for the credit balance and you will only owe any difference.

 

IME Smiley Happy

 

 

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 4 of 12
Epic Contributor

Re: BOA CLI Question

with low 600's your liable to have your account closed if you request CLI from Bank of America... Mine was with higher scores 6 months after they graduated it and gave me CLI from $1000 to $1500
Message 5 of 12
Frequent Contributor

Re: BOA CLI Question

I have had the card for a little over 18 months..I received an increase when the card unsecured in april. Since april it has been 1000.... Never late

Starting Score: 3/21 EQ 636 TU 669
Current Score: 12/30 EQ 740 TU 712 EX ??? ....
Goal Score: Yay... I reached my goal of 700!!!


Take the FICO Fitness Challenge

Message 6 of 12
Frequent Contributor

Re: BOA CLI Question

Another option is this. You say that you have the money to pay it in full.  Why not CHARGE like $500 of the tuition and pay the other $475 in cash. This would bring your CC balance up to $839.  Your tuition is paid in full and you have $500 cash.

 

After I did this, I would go into the nearest BOA (assuming you live near a branch) and make a payment of $500 on to the credit card. This way you have shown usage, had a balance up to $839 but then payed it down, which should look positive to the bank.

 

My experience is banks like to see usage, see what "ceiling" you can owe and how you can pay it down. You have accomplished all of that doing this.

Message 7 of 12
Frequent Contributor

Re: BOA CLI Question

Just an additional comment...be VERY careful paying tuition with a CC...most schools will pass along the 2-3% charge it costs them to you (if your rewards are higher than this, that's good, but otherwise not worth it).  Also, they might put a hold on it for more than the charge (like gas stations do), in which case you'd go over your limit. 

 

Finally, just in general, I'm not sure what a CC company would think about you "having" to charge your tuition...

 

Personally, I say if you have cash, use cash...especially for such a small amount (small compared to the $1,480 my husband's bill just was anyway).

 

In terms of FICO...don't charge more than 50% utilization, or if you do, make sure sure sure you pay it off before the statement AND that they actually credit it right away.  If you want to try that route....I'd charge $950 on the card total ($611 of the tuition) since hitting the 100% mark is very risky.

 

good luck!

Current Scores: EQ: 740 (2/7/13)


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Message 8 of 12
Frequent Contributor

Re: BOA CLI Question

Ok well i called boa to see about the increase. It was denied due to 5 collection accounts that are 4 years old. And I had those accounts when i opened the account. She stated that as long as i had those accounts i would never get an increase. I have never been late on anything in the last 4 years. I think it is time i moved on from boa.

 

I also asked if i could over pay the account and then put my tuition on it she stated that it would not be a good idea. when u overpay your account it is automatically flagged for a review..


Starting Score: 3/21 EQ 636 TU 669
Current Score: 12/30 EQ 740 TU 712 EX ??? ....
Goal Score: Yay... I reached my goal of 700!!!


Take the FICO Fitness Challenge

Message 9 of 12
Regular Contributor

Re: BOA CLI Question


goodgirl-badcredit wrote:

Ok well i called boa to see about the increase. It was denied due to 5 collection accounts that are 4 years old. And I had those accounts when i opened the account. She stated that as long as i had those accounts i would never get an increase. I have never been late on anything in the last 4 years. I think it is time i moved on from boa.

 

I also asked if i could over pay the account and then put my tuition on it she stated that it would not be a good idea. when u overpay your account it is automatically flagged for a review..


Uh-Oh - I overpay mine every month, my statement always has a credit balance. I just round it up to the nearest $5, $10 (or whatever denominations are in my pocket) and pay in branch.

Message 10 of 12