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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.
@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
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.
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.
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.
@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.