Credit Cards

[Goalof800]

I have a BoA Cash Rewards card which has been sitting at a $2,000 CL for about a year. I don't use the card much (up to $200/month on groceries and miscellaneous expenses when a business doesn't accept AMEX), but I wanted to up the limit to keep it in line with my other cards and keep improving my credit score.

1) What is the maximum increase I can ask for?

2) Does this card automatically convert into a VISA signature once I get a $5,000 CL? Any pros/cons I should watch out for?

Thanks!

[OptimasPrime]

---

Goalof800 wrote:

I have a BoA Cash Rewards card which has been sitting at a $2,000 CL for about a year. I don't use the card much (up to $200/month on groceries and miscellaneous expenses when a business doesn't accept AMEX), but I wanted to up the limit to keep it in line with my other cards and keep improving my credit score.

1) What is the maximum increase I can ask for?

2) Does this card automatically convert into a VISA signature once I get a $5,000 CL? Any pros/cons I should watch out for?

Thanks!

---

AFAIK there is no limit to the % increase you can ask for from bofa. They like to hp tu for clis most of the time.

I'm not sure if the they will convert automatically to visa signature for 5k+ tradelines, but I do know that bofa does not report a credit limit on their visa sig products, so that is definitely something to be aware of.

[ukimafija]

There is no % you can ask for ,I always ask >100%, it is gonna be a HP on TU most likely, and you can ask them to match your card to the other limits.

They will look at your relationship with them, I would temporary put all my money into BOFA checking before i ask for a CLI. So far in 4x with this i never got declined cli.

You will get a signature automatically, but if you need limits to show just switch to a Cash rewards World Mastercard after you get a CLI.

[YahComb]

---

OptimasPrime wrote:

---

Goalof800 wrote:

I have a BoA Cash Rewards card which has been sitting at a $2,000 CL for about a year. I don't use the card much (up to $200/month on groceries and miscellaneous expenses when a business doesn't accept AMEX), but I wanted to up the limit to keep it in line with my other cards and keep improving my credit score.

1) What is the maximum increase I can ask for?

2) Does this card automatically convert into a VISA signature once I get a $5,000 CL? Any pros/cons I should watch out for?

Thanks!

---

AFAIK there is no limit to the % increase you can ask for from bofa. They like to hp tu for clis most of the time.

I'm not sure if the they will convert automatically to visa signature for 5k+ tradelines, but I do know that bofa does not report a credit limit on their visa sig products, so that is definitely something to be aware of.

---

IME BOA is not too tough on the lower end-in july i went from 1.2K to 3K and October i went from 3K to 6K-both CLI's gave me my highest credit line at the time. They will not automatically convert a platinum plus to a visa signature-it's only automatic if approved at 5K or higher. If you reach 5K through CLI's, you have to ask them to change it.

[darkpearl]

I've gotten 2 CLI's. The first was from 2K to 4.5K. The 2nd one was from 4.5K to 7.9K. I asked for >2x like last time, but they only gave me 7.9K (I am OK with that though!). They said that the increase was adequate for the tradeline (even though I have to make payments multiple times per month to stay under because I share it with my fiance). They also said my util was high even though with my AU on a 12K card and my 2 jared's cards at 10.5K I never have overall high util, so they must have meant specific cards. My BOA was just paid off so I guess when I want more CLIs in the future I'll treat it like apping for a new card and make sure everything is low individually. Mine is not a sig so the poster right above me is right, does not convert on CLI.

[tennisfan78]

They have increased my credit limit from $500 to $3000 after a hp on TU. My util was low, and I waited for a year.

[Creditaddict]

It's a HP, so I would ask for $25k unless you are at $20k now... maybe then you should ask for $100K!!!

Im not realy aware of any banks currently that will flat out deny you because you asked for to much, they will 1. counter, 2. ask if you want a HP to see about that request, or give it to you.

[FloridaState12]

I just got one a couple days ago from $800 to $5,000. HP on TU.

[mikka1]

Unfortunately, opposite to the most of said here, I had a rather bad experience with BofA CLIs - I asked an increase on my 1-2-3 Cash Rewads card that I've had for almost a year by that time with mere $500 CL and have been declined actually twice - first time in the letter and second time during recon on the phone. It took me TWO HPs on my TU not to get even $250 increase despite very heavy usage on that card (in relative terms, obviously, but I was charging at least $300-400 every month, so 60-80% of my limit and have been always PIFing it). 

Currently it's still my lowest limit card with $500 CL for almost 1,5 years now... and obviously it's in the SD. 

[HiLine]

---

Creditaddict wrote:

It's a HP, so I would ask for $25k unless you are at $20k now... maybe then you should ask for $100K!!!

Im not realy aware of any banks currently that will flat out deny you because you asked for to much, they will 1. counter, 2. ask if you want a HP to see about that request, or give it to you.

---

Pretty sure BofA will automatically hit you with an inquiry without asking though ...