I have a BofA card with a $3000 limit and a $1900 balance.
I want to get my limit increased but keep getting denied.
Here's my plan: Pay off the $1900 (with money I normally use for rent)....call for an increase....THEN, after the increase, use one of their courtesy checks to write out a rent check (around $1400) next month.
I realize the checks % rate will cost me around $50, but it would be worth it to get a $3000 or so increase. No?
Well, the money would be in there anyways in case they didn't .
By the way, I am planning on paying this card down...not using it for a lot of purchases or anything. Just want the increase for utilization.
The more you ask and the more frequently you ask BofA for a CLI the less likely you are to get one. If you ask and are declined you have to wait at least six months before asking again.
Given your set of circumstances I would let it go.
BOA will grow with you, I would not use the card and pay off the balance as you can over time...
Once it is paid use it for 3 months and PIF, use it for everyday things, groceries gas etc, and PIF then they will give you an auto. I have mastered them (21k limit on MC) by using this tactic. PIF they hate it, because they do not make money on interest... they want you to spend so they get revenue from interest. Also banks use a system that assigns an internal score for each person based on risk, and revenue generation!!