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Partner approved in August 2015 for CashRewards @ $6000, raised yesterday to $8300 -- only used ONCE over a year ago. Approved last month for Travel Rewards @ $9000- uses it a lot. How is BofA with combining limits? Is it a SP? HP? Analyst review ? Or CSR easily done ? Dont want the CashReward closed for non use, and to lose that large CL - so how is BofA with rellocation? I tried searching and only get very vague threads on this.
Thanks!!!
HP for CL reallocation
Their money, their rules.... at least its offered as an option whereas they could just say we don't offer that service. Frankly, after the first 5 or 8 HP's they don't affect much of anything, and you are right, HP for CLI, HP for this, that anf everything especially if you have a lot of accounts its very easy to get into double digits in HP counts without opening a lot of new accounts. I've opened 3 new accounts in the last 60 days and had a few more CLI's, added HP's yes, lowered my scores? Not at all....scores actually went up a few points.
@Anonymous wrote:
Thanks credit. However I really REALLY do not get he logic in that at all. These companies complain we have too many inquiries and then they put nonsense, extra inquiries on our reports to MOvVE LIMITS THEY ALREADY GAVE US??? I don't think it should even be legal in the credit world. We aren't asking for NEW CREDIT. I find that totally absurd and if anyone has any logic into this, love to hear it.
The flip side is that for most people in the general public who are not constantly appying for cards, an inquiry to merge limits is probably not big deal.
If you already have a lot of inquiries, one more is unlikely to really make any difference one way or another.
Anyway, glad you got it done with a SP. I have heard some reports that recently BOA has been doing SP for this although YMMV. Things change.
@kdm31091 wrote:
@Anonymous wrote:
Thanks credit. However I really REALLY do not get he logic in that at all. These companies complain we have too many inquiries and then they put nonsense, extra inquiries on our reports to MOvVE LIMITS THEY ALREADY GAVE US??? I don't think it should even be legal in the credit world. We aren't asking for NEW CREDIT. I find that totally absurd and if anyone has any logic into this, love to hear it.The flip side is that for most people in the general public who are not constantly appying for cards, an inquiry to merge limits is probably not big deal.
If you already have a lot of inquiries, one more is unlikely to really make any difference one way or another.
Anyway, glad you got it done with a SP. I have heard some reports that recently BOA has been doing SP for this although YMMV. Things change.
well the fact the card was just opened, gives a 30 day window of almost certainty of no HP for reallocation.
Might be worth a shot to try a few calls/chats to see if your CR can be PCd to a BBR. Odds aren't the best, but its worth a shot! Hopefully you at least have a $300 free savings account with them so you are getting 1.65% on all travel vs 1.5. If you did manage to pc the CR to BBR you'd get another $120/yr. Move all but 1k to the TR, and use the BBR for a recurring bill.