Bank of America approval and CLD?

Anonymous · ‎05-25-2016

I've had the BOA 3-2-1 card with a CL of 10k for about a year and a half. Today I applied for the Better Balance Rewards card ( I want the free $100 a year) and was approved for 11k. I just logged into my account and saw the CL was decreased to 7300. Why would they approve me for a higher limit card and CLD my existing card? Has this happened to anyone else?

yfan · ‎05-25-2016

Likely because a systems check detected you are over your internal limit. Or, they want you to use your BBR car more and for bigger purchases (since other than the $25 quarterly, they don't have to pay rewards, and on bigger purchases, that might be quickly outweighed by cash rewards).

Anonymous · ‎05-25-2016

It happens. You have reached your current internal limit. That happened to me, too As it happened I transferred the remaining balance and closed that card. I now have three BofA cards with good CL's because of it.

baller4life · ‎05-25-2016

Yes BOA is known for this. Question is why they didn't leave your existing card alone and approve BBR for a lesser amount. Weirdos!

kdm31091 · ‎05-25-2016

In the terms for the applications they mention they may move existing credit lines to approve the new card. It's just how they work.

Anonymous · ‎05-25-2016

@baller4life wrote:
Yes BOA is known for this. Question is why they didn't leave your existing card alone and approve BBR for a lesser amount. Weirdos!

They approved my BBR at 14k and took some of that from my travel card account. 3k if I remember correctly. I was going to close my travel card anyway, but that just accelerated the process.

takeshi74 · ‎05-25-2016

@kdm31091 wrote:
In the terms for the applications they mention they may move existing credit lines to approve the new card. It's just how they work.

Yup. Always read and make sure you understand the terms.

https://www.bankofamerica.com/credit-cards/terms-and-conditions/?campaignid=4006474&productoffercode...

You also understand that if you have existing credit card accounts with Bank of America, we may utilize the available credit on the existing account(s) to approve your new credit card.

NRB525 · ‎05-25-2016

When my AK Airlines card was approved, $17k, Yay!

Then I got the letter the used $1k from the $15.7k AMEX. Huh?

#InternalLimits

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎05-25-2016

@takeshi74 wrote:
@kdm31091 wrote:
In the terms for the applications they mention they may move existing credit lines to approve the new card. It's just how they work.
Yup. Always read and make sure you understand the terms.

https://www.bankofamerica.com/credit-cards/terms-and-conditions/?campaignid=4006474&productoffercode...
You also understand that if you have existing credit card accounts with Bank of America, we may utilize the available credit on the existing account(s) to approve your new credit card.

I would get that if they would have only approved me for a very low CL, but taking almost 3k from an existing account to grant me a card with a CL even higher than the first seems weird. They could have left the older card alone and still given me 8.3k, which is a pretty decent limit.

Anonymous · ‎05-25-2016

You should get a letter stating what they did and that you can call and have credit lines moved around if need be to better suit your needs.