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Bank of America Credit Limit Increase Question

Super Contributor

Re: Bank of America Credit Limit Increase Question

Congrats!!!!  They hard pulled TU and EQ   when I requested CLI last year. They also soft pull EXP.  You were lucky. They didn't do anything to do. Many people got their account closed and CLD instead of CLI.

 

 

Ron.

Message 41 of 58
Valued Contributor

Re: Bank of America Credit Limit Increase Question

if i could do this again, i wouldn't have done it the way i did. i wouldn't have a hard pull today and maybe an increase anyway. i would like to know if anyone has done this lately and have recived a hard pull, or adverse action instead on a hard pull of all things. i would have, should have checked in first and call before requesting. i know from before that they operate the same way online as they do on the phone, and that is you get a hard pull regardless. unlike citi, where if you call in, you can opt out.

Message 42 of 58
Valued Contributor

Re: Bank of America Credit Limit Increase Question


scottwagnon wrote:

Ok folks, the results are in, finally, been waiting all week:

 

i want to confirm i was denied a credit limit increase, and here are the reasons:

 

Dear Scott,

You are not approved for an increase because,

 

The amount of credit cards and available credit that you already have is appropriate based on your credit information and the spending history of your account.

 

so i am curious,

 

could the amout of income i entered into the cli request form be a probable factor? i kind of hope not. because that was the only reason why i was denied for a citi cli on a hard pull.

 

yes, my available credit limit exceeds that of my annual household income; if anyone wanted to know this.


This is just my personal experience with BoA, I got my first CLI from 5K>10K three months after activating the card, I waited 6 months and requested another CLI, I got the please call message, I did not call, I waited about a week and no CLI, so I called and spoke to a credit analyst who explained to me that BoA gave me the 10K CLI I requested solely based on my exceptional EX FICO of 798 and a perfect report.

 

However, I was also told that BoA does not usually give a 10K CL to someone with my income (at that time my income was 31,500) I was told that BoA would normally give a 10K CL to someone with a 50K+ income, but like I stated above, I was told I was given that first CLI solely based on my EX FICO of 798 and perfect report.

 

So with that said, I'm pretty sure I'll be stuck with a 10K CL with BoA (I don't see my income getting to 50K anytime soon) But to be honest, a 10K CL is far more than I'll ever use anyway, so I'm perfectly fine with that.

 

I have no idea if the info that the credit analyst gave me was accurate or not, but I just thought I'd share my experience.


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

Take the FICO Fitness Challenge


Message 43 of 58
Established Contributor

Re: Bank of America Credit Limit Increase Question

Mustang how long did it take you to get from a score of 583 to your current score? I'm at 570 at the moment and I'm about to get my first secured credit card.

 

Any pointers for a noob like myself? Smiley Very Happy


DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 18000 - Chase Freedom VS: 5000
in the garden since 1/24/14 - #GARDENSTRONG
Message 44 of 58
Regular Contributor

Re: Bank of America Credit Limit Increase Question

So, reading all this thread got me excited...  I decided to pull the trigger on the luv button and got the message below. I was instantly approved for a $5,000.00 CLI for a total of $10,000.00... I think I should stop while I am ahead considering my recent quest for credit (http://ficoforums.myfico.com/t5/Credit-Cards/Discover-More-Approval-Pen-Fed-CLI-Success-US-Bank-Cred... ) -- I will let you know if this turns out to be a hard pull.

 

  Thanks for Letting Us Serve You!
Congratulations! Your credit line increase request has been approved. Your new Total Credit Line is $10,000.00 with a Cash Credit Line of $3,000.00.Your credit is now available for purchases, cash, access checks, and balance transfers.
In case you would like to print a copy of this request for your records, here's a summary of the information you submitted:

Total credit line requested:

$10000
Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Message 45 of 58
Established Contributor

Re: Bank of America Credit Limit Increase Question

Congrats!!! Hope its a soft pull.

Amex BCP/BC/Zync - Amex Business GR - Barclays NFL Visa Sig 49ers/Arrival - BoA BBR - Cap 1 Quicksilver - Citi Forward/Preferred - Chase Amazon/Freedom/Ink Plus - Discover IT - Fidelity Amex - GECRB Amazon/Walmart - PenFed PRV - Target - USAA Amex - US Bank CASH+/Club Carlson
Message 46 of 58
Regular Contributor

Re: Bank of America Credit Limit Increase Question


flowfaster wrote:

Congrats!!! Hope its a soft pull.


Thanks! Just got a notification that BofA hard pulled TU. Instant decision, but it cost me an inqury to get a $10K credit line.

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Message 47 of 58
New Member

Re: Bank of America Credit Limit Increase Question

My personal experience was not that bad. They hard pulled transunion, but the increased my credit line from $500 to $7,500. I couldnt have had a better experience.

Message 48 of 58
Regular Contributor

Re: Bank of America Credit Limit Increase Question

Just did a CLI LUV button. Requested 2500, got a "call for instant decision".  Next day Logged on and got 2500 CLI and a hard pull trigger.  Called  for a recon for 10k total and approved!

My TL : Venture 33k / BCE AMEX 33k / BoA123 Sig 24k / Discover 28.5k / Home Depot 16.5 K / CSP 16.5k / Barclays Arrival WEMC 15k / Citi World WEMC13.5k / CU Visa 11k/ Nordstrom Visa 15K / Freedom 10k / Citi AA 11.1k / Macy's Store 5.3K / Best buy 2.4K / BBRZ Gold 1.4K / Express 1.4K/
Message 49 of 58
Super Contributor

Re: Bank of America Credit Limit Increase Question

As farf as I know with BOA, unless its an auto CLI, it's always a SP




Message 50 of 58