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scamps218
Posts: 17
Registered: ‎10-29-2011
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Bank of America Credit Limit Increase Question

So I'm hearing from people on this site that if you request a limit increase using the button on Bank of America's website, it will result in a soft pull of your credit report.  I've only have the card for 6 months, but the $1000 limit is not great and I could use more to finance a computer I desperately need for work (work expense tax deduction).  However, I do not want anything to lower my score or cause them to close the account for some reason (I'm reading strange things on here regarding this).  Does anyone have some suggestions?  If I request an increase, will it be soft or hard?  They are asking for employment info and salary which makes me think it is hard.




Starting Score: 665
Current Score: 665
Goal Score: 700


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Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
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Re: Bank of America Credit Limit Increase Question

i've always known it to be a hard pull, but i would like to know too if is actually a soft.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011
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Re: Bank of America Credit Limit Increase Question

[ Edited ]

I apped for the BankAmerica Cash Rewards Visa Sig 5/15/11, was instant approved 5K CL, about a month later I called and PC'd it to the BankAmerica Cash Rewards World MasterCard (had not even used the card yet) Then in August I ran a 1749 purchase thru the card, paid it in full about 23 days later, and on Sep 4th I hit the "Increase Credit Limit" button online, asked for an additional 5K bringing it to 10K.

 

This was on Sunday, Labor day weekend, after I hit the button the next page said "Please call for instant approval" I did not call because it was Sunday and also did not call Monday because it was Labor day, checked my online acct Tuesday and it showed my CL was 10K.

 

I checked EX (That's who they originally pulled) did not see a hard, looked and saw a soft from BoA on the 4th of Sep, and to this day, no hards from BoA on any of the three CRA's.

 

Just FYI, I had called a few days before I hit the button online and asked BoA if I requested a CLI if it would be a hard or soft, was told it would be a hard, I guess that might be their way of discouraging customers from asking for CLI's too often IDK???

 

Hope this helps!

 

EDIT To Add: This was just my experience, of course YMMV, Best of Luck!


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

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Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
0

Re: Bank of America Credit Limit Increase Question

[ Edited ]
you mean the words instant decision or was it written as to say instant approval?
EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Regular Contributor
Balbanes
Posts: 143
Registered: ‎06-05-2008
0

Re: Bank of America Credit Limit Increase Question

Which card is it with them? They are stingy as hell on their Platinum Plus cards.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico
Valued Contributor
scottwagnon
Posts: 1,344
Registered: ‎02-07-2010
0

Re: Bank of America Credit Limit Increase Question

Did you mean the words instant decision or was it written as to say instant approval?
EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Regular Contributor
Balbanes
Posts: 143
Registered: ‎06-05-2008
0

Re: Bank of America Credit Limit Increase Question

Also, I was able to get an account with Dell for 1.5k even when my credit was extremely shakey. Just make sure to buy off their business product line. Their consumer line is crap.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico
Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011
0

Re: Bank of America Credit Limit Increase Question

[ Edited ]

scottwagnon wrote:
Did you mean the words instant decision or was it written as to say instant approval?

To be honest, I do not remember exactly how it was worded, IIRC, it said "Please call 1-800-something for an instant approval" however thinking about it, it makes more sense that it could have said "instant decision" either way, I was approved without even calling, and was a soft hit on EX.


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

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New Contributor
julio87
Posts: 65
Registered: ‎03-12-2010
0

Re: Bank of America Credit Limit Increase Question

When I open my card with bof on 4/11 they approve me for 2000 dollars then 4 month later I call and ask for a credit increase and I ask for 5000 and I was approve and they did a soft inq.

Regular Contributor
dp321
Posts: 166
Registered: ‎04-16-2011
0

Re: Bank of America Credit Limit Increase Question

I too have been approved with only a soft on my Experian (pulled Equifax when apping). I got similar screen that says call this 1-800 number, but I did not call and got the CLI three days later. This was in 06/2011 and my card was still a student Platinum Plus, I went from $1000 to $1500 this time. Last time I got a CLI was in 12/2011, and it was from $750 to $1000. Now I have a Cash Rewards Platinum Plus I think I am going to go for another CLI this coming Christmas. 

 

I think if you do your request around the six months mark, you should be ok. Also try not to ask for too much CLI, I would consider 2X your current is the max you should go for. 


Starting Score: EQ: 703 (4/2011);
Current Score: EQ: 738 (04/2013)

Goal Score: ALL 800

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