How much of a CLI from B of A + Citi?

[fico4cash]

Hi,

I have a friend who is going to PG some BLOC and we want to maximize his personal credit limits first because it has an effect on your business limits. He currently has $25k with B of A open since '94. and $22.5k with Citi open since '02. All Fico's are over 800 with 1% util. I intend to suggest that he request $45k. I heard once you go over $50k limits no longer report...can anyone confirm this? Both B of A and Citi should be softs right? He also has a Chase with $10.5k that I'd like to see higher but that's a hard isn't it? Is there any bureau that Chase pulls more than others? He can afford a TU inq. Thanks!

F4C

[tonsers]

If you hit the luv button on VofA website, it is a soft unless they ask for more info. If you leave the requested amount blank, they typically give you 20%. If you want more than that, give them a call.

If the UTI rate is less than 1%, CLI's won't do much for the credit score. 800+ scores are already getting the best rates.

[fico4cash]

tonsers,

Thanks for the reply. He isn't after better rates but higher initial credit limits for his business. The higher one's personal limits are, the higher their initial business limits should be. At least that's the theory.

F4C

[Anonymous]

I think about 40k is when they no longer count on the report. I would be wary to request above 35k. As a matter of fact I wouldn't go above 30k with either on the first request. If he isn't putting enough usage on them they might not even grant the request unless BoA knows his income is sufficient for it.

[fico4cash]

debtisgood,

I thought about that. He is barely using his cards so there is no practical reason he should need higher limits. Should he explain what he's doing or give some other reason for wanting the increase? What is a good story to go with for needing an increase even though one has very low utilization? Thanks.

F4C