Should I request a CLI from BofA?

[valtamirano]

Hey guys,

I've had the BankAmericard Cash Rewards Visa for over 6 years now and started with a $1,000 CL. To this day, this account still has a $1,000 CL.

From what I've noticed on my other CC accounts, the CL increases, especially from Discover and Amex were automatic and happened several times through the years. By comparison, this card has the lowest CL, with my highest being the CSR at $34.4K. I used to use the card for primarily gas and everyday purchases, but since getting other cards with larger limits, I no longer use it as often because of such a small CL. If anything, I just charge my gym membership on this card and that's it.

I'm considering to use the "request a credit line increase" option, but am not sure what would be a reasonable request considering that I've never asked for a CLI on this card, never recieved one automatically, and having the lowest CL out of any CC account. For the life of the account, I've never missed a payment and always paid in full.

The main reason why I'm looking to do this because I want to use this card for my gas purchases and don't want to end up using 20% of my CL just in gas, not including gym membership and small grocery purchases. I have a feeling that if I end up with a 20-30% CL utilization at each statement close, it will end up lowering my credit score. My thought is that the CLI would aleaviate this prossible issue.

Any input is greatly appreciated.

[Anonymous]

Sure, ask for one if you need a higher limit.  Ask for a high enough number to meet your needs like in the $10-20K range.  It doesn't really matter what you ask for because they will counter with a lower amount if necessary.  No risk involved other than it will be a HP.  Good luck

[Anonymous]

i highly suggest a phone call instead of online request for a BoA CLI as you might be able to lower the APR too if you plan on carrying balance on it. it will be a TU HP either way but i find getting in touch with a BoA credit analyst, esp. if you have multiple CC's with them, might yield 'extra' positive results.

here's a great example. *might not apply to you as i only see 1 BoA card on your lineup but might be useful to others. 
- only 1 TU HP for 2 or more CC CLI requests
- easy reallocation of new limits to your liking while you still have the analyst on the phone.
- and just when i thought i was done... the CSR then offered the lowest APRs on ALL my cards!!! *if you're not offered, won't hurt to ask. heck, ask for BT offers as well if you need them.

of course, as always ymmv.

[Anonymous]

Dear god yes.  And within 30 days, using the same HP, grab a 2nd BOA card that best aligns with your needs.  Amtrak 30k points, Merrill+ $500 cash or $750-$1k for airfare, Alaska...or wait until the fall twhen their new travel card comes out with the $500 bonus and go for that.............

[AverageJoesCredit]

Yes, 6 years is long enough not to feel the Boa luv

[Anonymous]

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@Anonymous wrote:

i highly suggest a phone call instead of online request for a BoA CLI as you might be able to lower the APR too if you plan on carrying balance on it. it will be a TU HP either way but i find getting in touch with a BoA credit analyst, esp. if you have multiple CC's with them, might yield 'extra' positive results.

here's a great example. *might not apply to you as i only see 1 BoA card on your lineup but might be useful to others. 
- only 1 TU HP for 2 or more CC CLI requests
- easy reallocation of new limits to your liking while you still have the analyst on the phone.
- and just when i thought i was done... the CSR then offered the lowest APRs on ALL my cards!!! *if you're not offered, won't hurt to ask. heck, ask for BT offers as well if you need them.

of course, as always ymmv.

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TU? I thought BOA was -- like many -- generally Ex?

[AverageJoesCredit]

Usually once you app a cli, theyll pull TU then you app the other card. If you app a card first, probably pull EX.

[K-in-Boston]

All of my many CLI requests were TU, and a "use the same pull" app for Cash Rewards was on the TU right after my last CLI.  My stand-alone BankAmericard app last year was an EX pull.  No idea on the other two BOA cards in my signature; those were originally MBNA cards opened years ago.

[valtamirano]

Thank you to all who answered. Your input has convinced me to give them a call and ask for a CLI to $10k. Hopefully they'll give me the okay!

What is this new travel card they are coming out with? I couldn't find any info on it.

[Anonymous]

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@valtamirano wrote:

Thank you to all who answered. Your input has convinced me to give them a call and ask for a CLI to $10k. Hopefully they'll give me the okay!

What is this new travel card they are coming out with? I couldn't find any info on it.

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I would ask for more than 10k but thats just me.

https://www.doctorofcredit.com/bank-america-premium-rewards-credit-card-50000-points-2x-travel-dinin...