So I have seen a few other people post about their luck with CLI's and which bank did it. So here's my experience:
I just got off the phone with Bank of America, I have a Cash Rewards card that has been open since August of 2011. So I called to see what a CLI would cost me, inquiry wise, and what their reviewing policy was for their credit accounts. I was told that they are currently not reviewing accounts, and basically customer's could only get a credit limit increase if they requested one themselves, which would cost a hard inquiry.
He said though, that a good rule to go by is to request one at the 6 month, to one year mark. So I asked him if my credit limit was frozen until I request one, upon which, he answed, "yes."
Ugh.
@Anonymous wrote:So I have seen a few other people post about their luck with CLI's and which bank did it. So here's my experience:
I just got off the phone with Bank of America, I have a Cash Rewards card that has been open since August of 2011. So I called to see what a CLI would cost me, inquiry wise, and what their reviewing policy was for their credit accounts. I was told that they are currently not reviewing accounts, and basically customer's could only get a credit limit increase if they requested one themselves, which would cost a hard inquiry.
He said though, that a good rule to go by is to request one at the 6 month, to one year mark. So I asked him if my credit limit was frozen until I request one, upon which, he answed, "yes."
Ugh.
It's probably frozen if you do request one lol... I think I'll be cutting my BofA loose next March. It makes me sad because it'll be 5 years old, but I haven't gotten a CLI since it's first birthday. At this point even my HSBC card has a higher limit and no AF - so it's not worth paying BofA's fee anymore. Probably take my bank accounts elsewhere as well when that happens.
The only good thing about them is their fancy ATMs!
