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Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007

BofA Online CLI Requests - A possible negative result (FYI)

[ Edited ]
Hope I'm not posting something everyone else knows but me!
 
I found out the hard way, the last couple days, that if you have more than one CC with BofA and ask online for a CLI on one card, a possible result is that BofA will simply take part of another card's CL and move it to the one on which the CLI was requested, if your scores, history, income, etc., don't qualify you for an outright CLI.
 
While I knew a customer could initiate such moving around of CL's, I had no idea it could happen as a result of a CLI request - I ended up having the CL on my BT'd BofA card lowered by $2K, raising my util on that card from 53% to 73% (fortunately, only a 5 pt hit so far on EX, so I was able to stop having a heart attack).
 
Of course I called right away to have all this undone and was assured yesterday that it would be fixed by this a.m., and of course it wasn't, so I had to call and be TF'd to the Credit Dept. to get it fixed today, but I'll be sweating a bit until the corrected balances CL's are showing up with all the CRA's.
 
I'm relieved that this snafu only seems to have given me a small score hit - anybody have a feel for how other creditors might view this shift-around of CL's if they soft me in the next few days, before things are straightened out on my reports?  How worried should I be?
 
(edited because I'm still coming down off the initial panic and putting wrong words in)


Message Edited by scapegrace13 on 07-08-2008 07:01 AM
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

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Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008

Re: BofA Online CLI Requests - A possible negative result (FYI)

I doubt that it will affect you much, if any, unless you were squarely on the borderline of AA already.
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: BofA Online CLI Requests - A possible negative result (FYI)

They tried to get me to do this on the phone before when I wanted to open a BOA Amex, but I didn't think it would happen without consent of the consumer.

You didn't happen to call and speak to a credit analyst did you? Perhaps you can talk them into giving your 2k back and actually giving you a real CLI.

Excellent catch, btw.
Here we go again...
Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007

Re: BofA Online CLI Requests - A possible negative result (FYI)



FretlessMayhem wrote:

You didn't happen to call and speak to a credit analyst did you? Perhaps you can talk them into giving your 2k back and actually giving you a real CLI.

Excellent catch, btw.

After I spoke to the main CSR yesterday about putting my original CL's back where they started and was assured her manager would fix it and that it'd update overnight, I did call to talk to the analysts to find out why I wasn't eligible for a 'real' CLI - found out that I'm pretty much at my ceiling with them for the time being - score not quite high enough (685, give or take 5 pts), they're my highest CL (no competition to motivate them), accounts are too new (2-3 mos.), and they feel I've got enough avail. credit for them for my income. :smileysad:
 
Oh, well.  Will let things age a few more months, then maybe try again - but ONLY by talking to a person!!  No more online CLI requests for me, with BofA!!  :smileysurprised:
 

 
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: BofA Online CLI Requests - A possible negative result (FYI)



scapegrace13 wrote:


FretlessMayhem wrote:

You didn't happen to call and speak to a credit analyst did you? Perhaps you can talk them into giving your 2k back and actually giving you a real CLI.

Excellent catch, btw.

After I spoke to the main CSR yesterday about putting my original CL's back where they started and was assured her manager would fix it and that it'd update overnight, I did call to talk to the analysts to find out why I wasn't eligible for a 'real' CLI - found out that I'm pretty much at my ceiling with them for the time being - score not quite high enough (685, give or take 5 pts), they're my highest CL (no competition to motivate them), accounts are too new (2-3 mos.), and they feel I've got enough avail. credit for them for my income. :smileysad:
 
Oh, well.  Will let things age a few more months, then maybe try again - but ONLY by talking to a person!!  No more online CLI requests for me, with BofA!!  :smileysurprised:
 

 





FWIW BOA seems to be pretty good with auto-CLIs also. So maybe if you just gets some positive usage and let your account age they will increase you.
Here we go again...
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: BofA Online CLI Requests - A possible negative result (FYI)

I asked for a CLI, got it. $5k increase. Then they took $10k away from another card days after. :smileysad:

But you can move credit back and fourth and it does not affect things at all if that helps you. Moving credit is not a CLI and keeps UTL the same overall. I do it all the time for more spending power.
If we never set higher goals we would never get as far.
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Frequent Contributor
rubaty
Posts: 380
Registered: ‎11-18-2007

Re: BofA Online CLI Requests - A possible negative result (FYI)

They did the same thing to me last week!  I asked for $2K CLI on my Ohio State CC and they took it from my Merrill +.:smileymad:

Current Score: EX 718 EQ 689 TU 757 23 Jun 13
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Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007

Re: BofA Online CLI Requests - A possible negative result (FYI)



rubaty wrote:
They did the same thing to me last week!  I asked for $2K CLI on my Ohio State CC and they took it from my Merrill +.:smileymad:


I feel for ya - though I'm also glad I'm not alone, in this unpleasant little surprise!
 
Did you have them put things back the way they started, as I did, or were you okay with the new CL arrangements?
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

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