@LTomBerry wrote:
@CS800 wrote:LT:
As others have mentioned, forget BOA. Stay under the radar with them since they have decided to go on a CLD spree or even closing accounts (RockinRay).
Ever thought about NFCU?
Maybe down the road. I know NFCU has the cashback card for 1% that goes to 1.5% after $10k/yr spending. Someday I might get a Chase Freedom and/or Sapphire too.
But I didn't start this thread to ask what other cards I should get, I'll state for the third time that I was asking about how to take care of the card I've got. And since the answer everyone is giving me is to just screw it and leave it alone I think our conversation here is done, doesn't look like I'll get any new productive advice.
That's when you take what you can from an opinion and ignore the rest. You dont need to get all bent out of shape.
Some tell you to ignore BOA, some say call them, the choice is yours.
@CS800 wrote:
@LTomBerry wrote:
@CS800 wrote:LT:
As others have mentioned, forget BOA. Stay under the radar with them since they have decided to go on a CLD spree or even closing accounts (RockinRay).
Ever thought about NFCU?
Maybe down the road. I know NFCU has the cashback card for 1% that goes to 1.5% after $10k/yr spending. Someday I might get a Chase Freedom and/or Sapphire too.
But I didn't start this thread to ask what other cards I should get, I'll state for the third time that I was asking about how to take care of the card I've got. And since the answer everyone is giving me is to just screw it and leave it alone I think our conversation here is done, doesn't look like I'll get any new productive advice.
That's when you take what you can from an opinion and ignore the rest. You dont need to get all bent out of shape.
Some tell you to ignore BOA, some say call them, the choice is yours.
LT;
You've probably heard BoA's card division is kind of in an "uproar" over a possible transition due to the sale of the FIA division being sold to USBank to be handled by ELAN (?). They're cleaning up their card portfolio it seems. You could risk talking to a supervisor credit analyst if the card has a low balance at the time and your total util is under 25%. With your score you might get somewhere, I doubt they'd CLD you if you're report is spotless and you've used the card well since they approved you for the 5K. However you're almost guaranteed a HP for the request if they grant you the CLI.
@AndySoCal wrote:I would not try for the CLI I think it will not be approved. The previous charge off I would pay off get that obstacle out of the picture. The primary reasons I think it will not be appoved is the reference by B of A to total credit limits and income secondly is the lack of payment history with B of A combined with the high util on the card.. Is this card considered a no pre set spending limit card?
Andy, I think he mentioned it's a signature as it doesn't report the limit. Knowing that I'd guess it's a flexible, where if you go over the 5k you have to pay the over amount along with the normal payment to bring it back down under the 5k at the next statement.
LT's original question was the heading "Bank of American CLI worth it?" Personally, from what he's written, I'd say "not really", it really depends on if it's worth it to him, does he want\need it that bad. I don't think he does really, so I don't think it's worth trying too hard for. A call asking about it maybe, a push to do an HP and go through their hoops? No. If (and it's a huge if) they raised the CL at all, I'd guess it'd only be by about 1000 to 2000 and it sounds like he'd like the full 10k reinstated, which I think won't happen until the end of this year if not early next. I'm not doubting LT here, I'm doubting BoA. At least until they get their card sale finalized.
@AndySoCal wrote:RyVision,
Two things the cards the B of A seilling to Elan is the cards offered by other instittions that they do the processing for not ther own cards. Secondly on the CLI even if the decsion is to try I doubt that it will sucessful it will just be denied. Also if it is a NPSL it depends on how it is reported. If it is reported as an Open account type and as Flex speding limit as the loan type it does not factor in the util. If it is reported as revolving credit card yes it factors in the util The problem with NPSL accounts is in how thye are reported which varies from lender to lender. My advice goes to how to care for the account and possibly achieve the CL that the OP is looking for in the long run.
+1 If people would read the info regarding the FIA accounts transitioning to US Bank and see that it is a rather small $700 million dollar portfolio that is insignificant compared to BofA's branded portfolio, this "news" would be on the back page. As far as the CLI request, I agree with the others here and would wait til the 6 months or so have aged on the account. With a 60% utilization on a new card and a past CO still in their system, you are guaranteed a denial. Patience and good credit behavior is what is needed right now for this account. You'll be happy with the results if you wait. 
I don't recall stating the entire BoA card division was sold, just that it was "in an uproar".... I should have been more clear that it was some cards UNDER the FIA division, instead of saying FIA had been sold. But the entire card division (at FIA or anything to do with BoA) is going to be "in an uproar" until the deal is done. None of those people know for sure what news they could hear regarding their position or job, so I'm sure they're all on their toes about how they handle any account "just in case". I'm sure they remember when Citi closed some offices, saying people would keep their jobs, only to be told goodbye later. After speaking to a couple about it, they ARE concerned and DO remember what's happened to people at other card service places during any issue.
I don't think LT should try for the CLI, but he asked about it and to me that implies he was serious about it, and it's not a true CLI, it's a re-instatement of a CL (which I don't think would happen yet, I think his best chances will come in about a year as mentioned, and that's WITH a spotless report, the internal CO removed as well). Having the BankAmericard 1-2-3 handled by FIA, I know how the limit reporting works, it doesn't report for the signature, only the highest balance; and it allows you to go over the limit as long as you pay the overage at the next billing plus the regular min due to bring the card back under the CL.
Nobody likes long posts, but they get condescending if you don't include every little detail they can figure out by reading between the lines. 
Finally we're getting somewhere. To clear up a few details: The CO was from a BofA card many years ago and it was paid off in 2009 and is no longer showing on my reports - all my CRs are spotless. I don't know if it will ever truly fall out of their internal system but hopefully at some point they'll stop holding it against me. And it is definitely a signature card that does not report a limit.
It sounds like I should wait and let the dust settle with BofA's card division shake-up. Although from what I've read it wont affect the Bank Americard division, only the co-branded cards.
So suppose I wait 6 months and only make minimum payments in the meantime. Will they see that as a good payment history, or will they ding me for not PIF and keeping a high util. If they hold the util against me, then I am in a catch-22 because the goal here is to get even higher util (once) so my high balance is large enough that a normal month of purchases won't kill the util. If I PIF before then it'll defeat the purpose. I suppose the answer lies with a phone call to customer service.
I think I might have a plan B if this doesn't work but I'll post it in another thread.
Starting Score: 690