Bank of America Luv Button Question

[Discover2016]

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@baller4life wrote:

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@revjamesl wrote:

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@baller4life wrote:

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@icyhot wrote:
Hard pull but they're very generous. Ask for $50K

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+1

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Would asking for $50k in anyway be suspicious? Have you received the BoA luv button? What has been your experience?

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Why would it be suspicious? You have multiple cards in the $30k/$40k range. $50k is definitely your next step up. Your portfolio justifies a $50k card. No worries.

I have personally only hit it twice and I am at $20k. TU hp. My button has been there for months. But, I am saving my pull for next year. Will request $35k. Then next request will be $50k 😉

One of our members was at $30k and recently requested $50k and got $47.5k. BOA is one of the more generous lenders.

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1+

[revjamesl]

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@baller4life wrote:

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@revjamesl wrote:

---

@baller4life wrote:

---

@icyhot wrote:
Hard pull but they're very generous. Ask for $50K

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+1

---

Would asking for $50k in anyway be suspicious? Have you received the BoA luv button? What has been your experience?

---

Why would it be suspicious? You have multiple cards in the $30k/$40k range. $50k is definitely your next step up. Your portfolio justifies a $50k card. No worries.

I have personally only hit it twice and I am at $20k. TU hp. My button has been there for months. But, I am saving my pull for next year. Will request $35k. Then next request will be $50k 😉

One of our members was at $30k and recently requested $50k and got $47.5k. BOA is one of the more generous lenders.

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Let me ask you this: My CSR has not reported to my bureau with the $40k limit just yet. Should I wait for that to report before hitting luv button?

[baller4life]

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@revjamesl wrote:

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@baller4life wrote:

---

@revjamesl wrote:

---

@baller4life wrote:

---

@icyhot wrote:
Hard pull but they're very generous. Ask for $50K

---

+1

---

Would asking for $50k in anyway be suspicious? Have you received the BoA luv button? What has been your experience?

---

Why would it be suspicious? You have multiple cards in the $30k/$40k range. $50k is definitely your next step up. Your portfolio justifies a $50k card. No worries.

I have personally only hit it twice and I am at $20k. TU hp. My button has been there for months. But, I am saving my pull for next year. Will request $35k. Then next request will be $50k 😉

One of our members was at $30k and recently requested $50k and got $47.5k. BOA is one of the more generous lenders.

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Let me ask you this: My CSR has not reported to my bureau with the $40k limit just yet. Should I wait for that to report before hitting luv button?

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I don't think it would matter. But, won't hurt to wait till it reports. And keep in mind they will counter. Always good to shoot for the stars with BOA.

[revjamesl]

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@baller4life wrote:

---

@revjamesl wrote:

---

@baller4life wrote:

---

@revjamesl wrote:

---

@baller4life wrote:

---

@icyhot wrote:
Hard pull but they're very generous. Ask for $50K

---

+1

---

Would asking for $50k in anyway be suspicious? Have you received the BoA luv button? What has been your experience?

---

Why would it be suspicious? You have multiple cards in the $30k/$40k range. $50k is definitely your next step up. Your portfolio justifies a $50k card. No worries.

I have personally only hit it twice and I am at $20k. TU hp. My button has been there for months. But, I am saving my pull for next year. Will request $35k. Then next request will be $50k 😉

One of our members was at $30k and recently requested $50k and got $47.5k. BOA is one of the more generous lenders.

---

Let me ask you this: My CSR has not reported to my bureau with the $40k limit just yet. Should I wait for that to report before hitting luv button?

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I don't think it would matter. But, won't hurt to wait till it reports. And keep in mind they will counter. Always good to shoot for the stars with BOA.

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Well, that was crap. I requested $50k and got an increase to only $24k. I'm thinking I should call them and ask them why such a small increase. And to ask for more. Any thoughts or additional advice?

[revjamesl]

Update 12:20 pm cst:

I called and spoke to a credit analyst about my request and why I want such a large increase. I actually make significant balance transfers (paid $30k off this month, including $14k with BoA) and I acknowledged that I want to make a couple other significant transfers without having a 100% utilization rate. We discussed liquid assets, etc. The analyst said he could definitely get me in the $30k range but that he needed a sr. analyst to look at it for more. He will call me within the hour.

Couple important notes:

They don't like new high limit chasers. On my bureaus my Discover is still reflecting $31.9k rather than $38.9k and isn't showing my CSR. I asked if they needed proof of the increase and new account and he said no.

The credit analyst seemed like he legitimately wanted to assist me and didn't seem to think I was insane for the request. I will report back once I've heard from him.

[baller4life]

Ok keep us posted. I knew they would likely counter. Didn't think $24k. But, sounds like you'll certainly get more. Good job. Your next BOA cli should get you there.

[Anonymous]

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@revjamesl wrote:

Update 12:20 pm cst:

I called and spoke to a credit analyst about my request and why I want such a large increase. I actually make significant balance transfers (paid $30k off this month, including $14k with BoA) and I acknowledged that I want to make a couple other significant transfers without having a 100% utilization rate. We discussed liquid assets, etc. The analyst said he could definitely get me in the $30k range but that he needed a sr. analyst to look at it for more. He will call me within the hour.

Couple important notes:

They don't like new high limit chasers. On my bureaus my Discover is still reflecting $31.9k rather than $38.9k and isn't showing my CSR. I asked if they needed proof of the increase and new account and he said no.

The credit analyst seemed like he legitimately wanted to assist me and didn't seem to think I was insane for the request. I will report back once I've heard from him.

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wow. well that is why they have the expression YEMV or YMMV.  and this is one of them.....

But I am a betting person, and I am going to say that your call back will go well and they will say your new limit is 40k.  Unless this card is less than a year old.

How old is the card?  Also ask them for APR reductions while you have them on the phone.  And remember with BOA sometimes they will have better BT offers on the phone vs what you see in the mail and online.

Be aware though, I have seen accounts with 16-19 month bt offers, and after a HP cli, the offer reduces to 12 months.  Generally speaking a call in to a regular rep they can get you the longer offer no problem.  Just dont freak out.  I remember when helping a relative once who explicitly wanted the 18 months on their old card, and after the CLI the offer just vanished, literally no offers on the account. But they had no issues doing it on the phone.

[revjamesl]

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@Anonymous wrote:

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@revjamesl wrote:

Update 12:20 pm cst:

I called and spoke to a credit analyst about my request and why I want such a large increase. I actually make significant balance transfers (paid $30k off this month, including $14k with BoA) and I acknowledged that I want to make a couple other significant transfers without having a 100% utilization rate. We discussed liquid assets, etc. The analyst said he could definitely get me in the $30k range but that he needed a sr. analyst to look at it for more. He will call me within the hour.

Couple important notes:

They don't like new high limit chasers. On my bureaus my Discover is still reflecting $31.9k rather than $38.9k and isn't showing my CSR. I asked if they needed proof of the increase and new account and he said no.

The credit analyst seemed like he legitimately wanted to assist me and didn't seem to think I was insane for the request. I will report back once I've heard from him.

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wow. well that is why they have the expression YEMV or YMMV.  and this is one of them.....

But I am a betting person, and I am going to say that your call back will go well and they will say your new limit is 40k.  Unless this card is less than a year old.

How old is the card?  Also ask them for APR reductions while you have them on the phone.  And remember with BOA sometimes they will have better BT offers on the phone vs what you see in the mail and online.

Be aware though, I have seen accounts with 16-19 month bt offers, and after a HP cli, the offer reduces to 12 months.  Generally speaking a call in to a regular rep they can get you the longer offer no problem.  Just dont freak out.  I remember when helping a relative once who explicitly wanted the 18 months on their old card, and after the CLI the offer just vanished, literally no offers on the account. But they had no issues doing it on the phone.

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Thanks for the response. Btw, my account is about a year old.

[revjamesl]

****7:19 UPDATE****

I never did hear back from the credit analyst within that hour so I called. I spoke to another gentleman that said the $30k threshold would not be an issue, but that my request for more was still being reviewed, which is usually a good thing. We shall see.

[Anonymous]

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@revjamesl wrote:

****7:19 UPDATE****

I never did hear back from the credit analyst within that hour so I called. I spoke to another gentleman that said the $30k threshold would not be an issue, but that my request for more was still being reviewed, which is usually a good thing. We shall see.

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great!  i would not call again, sometimes they do take a few days, wait until the end of the week!