cancel
Showing results for 
Search instead for 
Did you mean: 

Share your experiences with BofA

tag
Anonymous
Not applicable

Share your experiences with BofA

Hi,

 

My wife recently got approved for BofA cash rewards credit card for a 1000 limit. This is relatively small. I am just curious what others folks experience has been with BofA in terms of CLI and how often after the account is opened.

 

All feedback is appreciated.

Message 1 of 42
41 REPLIES 41
JSS3
Valued Contributor

Re: Share your experiences with BofA

*looking forward to all feedback as far as usage, CLIs amount and frequency, new account sensitivity, growth, BTs etc. I'm also new to BOA.
Message 2 of 42
ojefferyo
Valued Contributor

Re: Share your experiences with BofA


@Anonymous wrote:

Hi,

 

My wife recently got approved for BofA cash rewards credit card for a 1000 limit. This is relatively small. I am just curious what others folks experience has been with BofA in terms of CLI and how often after the account is opened.

 

All feedback is appreciated.


What does her profile look like? BofA is very generous giving you meet the criteria. Wait 6 months and ask for a CLI for best results. Use it and make significant payments or PIF if you can. They like those ALOT. BofA not only matched my highest limit at the time but beat it by $500 putting it at $17K

Amex Platinum, Amex Hilton HHonors Surpass, Chase Southwest Premier, Chase Marriott Rewards Premier, Discover IT, Sony Visa, Barclay Arrival+ MC, Cabela Visa, Walmart SC, Amazon SC, Kohls, Diners Club Premier, PayPal Credit, PenFed Platinum Reward Visa, PenFed PLOC, Chase Ritz Carlton, Citi TY Premier, Amex BCP, Discover Miles, Care Credit, Blue Nile SC, iComfort SC, Cap1 Venture, Chase Hyatt, Lowes, US Bank Cash+, Citi Costco Visa
Message 3 of 42
Anonymous
Not applicable

Re: Share your experiences with BofA

In terms of her profile, her scores are in the 718-725 range. She got approved today for:


Venture 20k, QS 10k, Sallie Mae 4.5, and the BofA for 1K;

 

She has existing discover 7K and Barclay rewards 1.5K.

 

We do have a bk7 discharged in 2009 so that might be what stopped them from giving a higher limit. Definitely plan on using and paying off that card multiple times a month.

Message 4 of 42
Shogun
Moderator Emeritus

Re: Share your experiences with BofA

I've had a car loan with them for 2 years, I have around $200K in a Merrill lynch account.  I've never even gotten an offer for a card from them.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 42
Seatown1two
Regular Contributor

Re: Share your experiences with BofA

Nothing but good things to say about bofa..  Started off with the 99/500 which has grown to a 10k travel rewards vs.  First lender to give me a 5 figure CL.

Amex Blue Cash - 22.9k | CSR - 21.9k | Cap One Quicksilver MC - 18.5k | BofA Travel Rewards - 15k | Lowes - 15k | Citi DC - 13.2k | Discover IT Miles - 20.1k | Amazon Prime Visa - 6k | BofA BBR - 5.4k
Message 6 of 42
FinStar
Moderator Emeritus

Re: Share your experiences with BofA


@Shogun wrote:

I've had a car loan with them for 2 years, I have around $200K in a Merrill lynch account.  I've never even gotten an offer for a card from them.


Not even an offer for the Merrill+ card?  I find that surprising given your overall BOA/ML relationship.  I have much less invested with ML, no car loans though, yet they throw a few CC offers here and there yet I already have the majority of them including Merrill+, Fidelity and some of their legacy CCs.

Message 7 of 42
Anonymous
Not applicable

Re: Share your experiences with BofA

5 months, took a HP got 4k increase.
Message 8 of 42
B335is
Moderator Emeritus

Re: Share your experiences with BofA

I've had really good experiences with BoA. They've given me two Alaska Airlines cards, Merrill+, Cash Rewards and Virgin Atlantic. My Cash Rewards was only opened a few years ago on a reconsideration call for $1500, it is now $20k. I've had far better luck calling the Underwriters than leaving my fate to their computer decisions. CLI and APR reductions are considered every 6 months. They counter offer so it doesn't hurt to ask for 3x or more of your current limit.
Message 9 of 42
Luscher
Valued Contributor

Re: Share your experiences with BofA

I like them Smiley Happy
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 10 of 42
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.