BofA CLI

[Tons_of_Debt]

Have a BofA $500 card (originally a $500 secured card, after graduation it was $1500 but after applying for a CLI in July of 2009 it was reduced to $500 due to another closed account with balance) that I'm looking to get a CLI on. When I was reduced in July of 2009, I was told that once the balance on the closed card was paid it could get re-upped. I applied again in 2010 (after paying the balance) and it was denied and was told to apply again in 2011.

I just paid off my last credit card ($5,000 AU Chase) and want to get a CLI on the BofA. Two questions:

1. Should I wait for payoff to hit CR? (I think this is an obvious yes)

2. I plan on moving from BofA to a CU for all my banking needs. Should I wait to do this for applying? Would having an account with BofA factor into their decision to grant/deny the CLI?

[thrasher865]

Definitely don't close your BoA accounts before applying for additional credit. 

[Tazman81]

I agree with thrasher.  You will likely have a better chance with having additional accounts open, but this is a toss up as I've heard it go both ways.  What credit union were you looking at?  Have you looked at any cards from the credit union that may give you a decent credit limit?

[Tons_of_Debt]

I have a $1000 card from the CU... my auto loan is now with them (at 3.5%). I app'd for an REI card and got approved at $8,500 so I went ahead and app'd for a BofA card today. I asked for $2,500 and was approved. WOOHOO!

Should've asked for more though!!