Credit Cards

[tennisfan78]

Hi I have BOA platinum plus visa card for with a credit limit of $500. I have had the card for about 6 months. Thinking of asking for a credit limit increase. I have heard that BOA is closing accounts, when asking for CLI requests lately, is that still true?

Also, would you recommend to ask for a product change, and then eventually request for a credit limit increase? (I heard platinum plus doesnt have higher limits). If that is the case, would that result in another hard inquiry or will it be a soft, as I have an existing account?  Also, if product change is the recommendation, which product do you suggest?

Please share any experiences you might have had in this regard.

Thank you

[tray]

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tennisfan78 wrote:

Hi I have BOA platinum plus visa card for with a credit limit of $500. I have had the card for almost $500. Thinking of asking for a credit limit increase. I have heard that BOA is closing accounts, when asking for CLI requests lately, is that still true?

Also, would you recommend to ask for a product change, and then eventually request for a credit limit increase? (I heard platinum plus doesnt have higher limits). If that is the case, would that result in another hard inquiry or will it be a soft, as I have an existing account?  Also, if product change is the recommendation, which product do you suggest?

Please share any experiences you might have had in this regard.

Thank you

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You can have a high credit limit with the platinium plus boa card, i have this card and my credit limit is $5,000.00 with the help of cli's over time, also you can call boa for a product change, I just did i went with the boa power rewards card as boa's visa signature cards do not report a cl, but the 123 boa card would be nice i think for you if you do not have any other cards with those type of rewards.  Good Luck

[tennisfan78]

Thank you for the reply. Did you request CLI on your platinum plus card online over the time? or did you call them?

[saaws]

In my case I started mine as a secured BoA Platinum plus card with 25$ annual fee, $500 deposit in 2007/10. It's 2012/4 now and my limit is $6,000.

History

2007/10 $500 deposit

2008/10 $500 Graduated, deposit came back

2008/12 $800 asked for cli, granted

2009/02, 2009/05, 2009/12 asked for cli, didn't get it (my utilization/DTI was high)

2010/05 $1200 asked for cli, granted

2010-2011 asked for cli intermittently, didn't  get it

2011/06 $2000 asked for cli

2011/12 $4000 asked for cli

2012/04 $6000 asked for cli

in 2010/09 I got chase visa signature with 5K limit, and then the latter half of 2011 I got 3 other credit cards that are $5K or more credit limits.

[calogan]

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tennisfan78 wrote:

(I heard platinum plus doesnt have higher limits).

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I had an over 10k limit on that card with them, it's not limited - but once you're at a credit score capable of getting those limits without them batting an eyelash you should also look into a PC to a rewards card. 

[tennisfan78]

Thank you for all the suggestions! I appreciate it

[tennisfan78]

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tray wrote:

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tennisfan78 wrote:

Hi I have BOA platinum plus visa card for with a credit limit of $500. I have had the card for almost $500. Thinking of asking for a credit limit increase. I have heard that BOA is closing accounts, when asking for CLI requests lately, is that still true?

Also, would you recommend to ask for a product change, and then eventually request for a credit limit increase? (I heard platinum plus doesnt have higher limits). If that is the case, would that result in another hard inquiry or will it be a soft, as I have an existing account?  Also, if product change is the recommendation, which product do you suggest?

Please share any experiences you might have had in this regard.

Thank you

---

You can have a high credit limit with the platinium plus boa card, i have this card and my credit limit is $5,000.00 with the help of cli's over time, also you can call boa for a product change, I just did i went with the boa power rewards card as boa's visa signature cards do not report a cl, but the 123 boa card would be nice i think for you if you do not have any other cards with those type of rewards.  Good Luck

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I just chatted with BOA online and requested to make a product change to 123 rewards card as suggested and it was approved   The agent mentioned that the credit limit will stay the same ($500). I am thinking of requesting for a credit limit increase once I get the new card in 2-3 weeks.  Thank you for all the suggestions!

[tray]

Congratulations on the new product change, to answer you question op I went online to ask for a cli but in the past boa was good about just soft pulls, nowadays you are taking a chance with a cli request being a hard pull or soft, but on this forum with the backdoor numbers you can always call a credit analyst directly and request a cli and also ask if it will be a hard pull or not.  Good Luck

[tennisfan78]

Thank you. Looks like the credit limit requests are mostly hard inquiries now. But, I will call the back door number when I get the new card and see what they say

[tennisfan78]

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saaws wrote:

In my case I started mine as a secured BoA Platinum plus card with 25$ annual fee, $500 deposit in 2007/10. It's 2012/4 now and my limit is $6,000.

History

2007/10 $500 deposit

2008/10 $500 Graduated, deposit came back

2008/12 $800 asked for cli, granted

2009/02, 2009/05, 2009/12 asked for cli, didn't get it (my utilization/DTI was high)

2010/05 $1200 asked for cli, granted

2010-2011 asked for cli intermittently, didn't  get it

2011/06 $2000 asked for cli

2011/12 $4000 asked for cli

2012/04 $6000 asked for cli

in 2010/09 I got chase visa signature with 5K limit, and then the latter half of 2011 I got 3 other credit cards that are $5K or more credit limits.

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Thank you for all the information. I appreciate it. I will slowly try to work my way up, just like you did.