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Bank Of America credit line increase!

Regular Contributor

Bank Of America credit line increase!

I just thought I'd give it a try since i have'nt asked in awhile . I used one of the back door numbers posted on myfico and called. After the normal questions about income and employment. About a 5 minute wait I got a 700 increase from 800 to 1500. I may seem like not a big risk but it good to see they still give increases.
Message 1 of 9
8 REPLIES
Established Contributor

Re: Bank Of America credit line increase!

congrats. what are your scores? did they do a hard pull?
Message 2 of 9
Regular Contributor

Re: Bank Of America credit line increase!

680 Transunion    654 Equifax      no hard pull that I know of. Rep said it was a soft.
Message 3 of 9
Established Contributor

Re: Bank Of America credit line increase!


pumbaablah wrote:
I just thought I'd give it a try since i have'nt asked in awhile . I used one of the back door numbers posted on myfico and called. After the normal questions about income and employment. About a 5 minute wait I got a 700 increase from 800 to 1500. I may seem like not a big risk but it good to see they still give increases.

 

That's great. Did you have a balance when you applied and if so how much?

Starting Score: EQ: 633 (12/31/09) TU: 651 (12/31/09)
Current Score: EQ:633 TU: 651
Goal Score: EQ: 700 TU:700


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Message 4 of 9
Frequent Contributor

Re: Bank Of America credit line increase!

Hi

 

I tried the same and twice I got a phone number to call in.  The first time I ignored it thinking they might give me a CLI automatically.  No increase.  4 weeks later I tried the CLI button again and got the same number to call in so I did this time,  They wanted to do a hard inquiry and I said NO.  I will spend ny inquiries with a CU that doesn't know me to get a CC vs a bank I have a credit history with.

Message 5 of 9
Super Contributor

Re: Bank Of America credit line increase!


Scuba wrote:

Hi

 

I tried the same and twice I got a phone number to call in.  The first time I ignored it thinking they might give me a CLI automatically.  No increase.  4 weeks later I tried the CLI button again and got the same number to call in so I did this time,  They wanted to do a hard inquiry and I said NO.  I will spend ny inquiries with a CU that doesn't know me to get a CC vs a bank I have a credit history with.


You made the right decision.  No CLI is worth a FICO score decrease.  Afterall, it's not like we're going to use all the available credit on the card.

Message 6 of 9
Regular Contributor

Re: Bank Of America credit line increase!

Congrats on the increase with BofA, I haven't had much luck getting one from them although I've tried several times during the past year.  The one good thing is that they have never done a hard inquiry with any of the requests.  However, I'm not opposed to trading an inquiry for an increase as the ding for the inquiry isn't as severe as a ding for a new account once you have reached their magic number.   In many instances a CLI is well worth the inquiry.  I got an increase of $3500 from Cabela's last week as well as one for $2500 from NFCU.  I knew that both would result in an inquiry but I have gladly subjected myself to inquiries for new cards with credit limits of less than that.  It's all a matter of what your individual circumstances are, and in my case I'd rather get a CLI than a new account in order to increase my available credit.  While it is true that we may not use all our credit limits, it is nice to have a little extra breathing room.  

 

So again, congrats, you are doing something right in BofA's eyes.  I need to copy your formula.

Message Edited by hemi961 on 12-05-2009 09:33 AM
Message 7 of 9
Senior Contributor

Re: Bank Of America credit line increase!

my gf just applied for a CLI on her card, & the denial letter said she had a serious delinquency on her report....there is nothing negative on her reports at all!  a late payment to a student loan a year ago is the only negative AT ALL.
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 8 of 9
Highlighted
Regular Contributor

Re: Bank Of America credit line increase!

hey sorry for the late response. My balance was 35.00 when I asked for the CLI. I really don't use this card at all except for MYFICO scorewwatch monthly. I would like to get the accelerated cash BOFA AMEX one day and i was very tempted to app for it but I was like no. I think I'll have a much more better chance at that maybe next christmas. It also sucks that you can not just get the card and keep your old history. Another reason why I dont want it
Message 9 of 9