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Frequent Contributor
illtakecreditforthat
Posts: 320
Registered: ‎05-03-2009

Re: Two questions about BofA product change and Best Buy Card


creditwherecreditisdue wrote:

illtakecreditforthat wrote:

creditwherecreditisdue wrote:

I though everyone that app'ed BB hoped they didn't get the MC.


The MC is a "purpose" card.  If your purpose was to get a re-builder MC, they were pretty lenient (unaware of their current underwriting).  It gave me the opportunity to acquire prime cards after establishing a payment history.


 

Wouldn't the store card do the same thing?

Probably.  In fact, the store card seems to be the superior card.

 

However, many people want the flexibility of a MC/Visa.

I want PATIENCE...and I want it NOW
Valued Member
Maclover
Posts: 35
Registered: ‎12-15-2008

Re: Two questions about BofA product change and Best Buy Card

Hey guys - thanks for the input.  I guess I will leave the Best Buy MC alone and not use it.  As far as the Bankamericard - I've been reading that this card is fairly hard to get (according to some websites).  Do you think there's a chance they will automatically increase the line (if it is indeed an "upgrade")?  Does anyone have this card? If so, what is your limit?

 

Thanks.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Two questions about BofA product change and Best Buy Card


Maclover wrote:

Hey guys - thanks for the input.  I guess I will leave the Best Buy MC alone and not use it.  As far as the Bankamericard - I've been reading that this card is fairly hard to get (according to some websites).  Do you think there's a chance they will automatically increase the line (if it is indeed an "upgrade" )?  Does anyone have this card? If so, what is your limit?

 

Thanks.


Reread my earlier post and follow the instructions there. The process is the same for all BofA CC's.

Valued Member
Maclover
Posts: 35
Registered: ‎12-15-2008

Re: Two questions about BofA product change and Best Buy Card

Hello,

 

Yes I did just that (requested online) and received the 7-10 day message.  I think I'll wait until I get the new card and call in to talk to a credit analyst.  I just thought that maybe since they were doing a product change they might increase the limit too.  This happened when my Citi Upromise Card became a BofA Upromise Card (CLI from $3200 to $5500).

 

Thanks.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Two questions about BofA product change and Best Buy Card


Maclover wrote:

Hello,

 

Yes I did just that (requested online) and received the 7-10 day message.  I think I'll wait until I get the new card and call in to talk to a credit analyst.  I just thought that maybe since they were doing a product change they might increase the limit too.  This happened when my Citi Upromise Card became a BofA Upromise Card (CLI from $3200 to $5500).

 

Thanks.


The 7-10 day message usually indicated a decline, Now that you have made the request, if you really want an increase (or just want to know what is going on) call: 800-318-6649 and ask. They will be glad to help you.

Valued Member
Maclover
Posts: 35
Registered: ‎12-15-2008

Re: Two questions about BofA product change and Best Buy Card

Update - I called the number and spoke to a very nice analyst.  Yup the CLI request done online was declined.  I requested one from him - also declined.  He stated that since I have a $5500 BofA card already I had sufficient credit with them already.  I guess a $6K combined exposure is all they are willing to risk...BTW my reports are spotless other than the current 30% utilization.  They mentioned income level as well - $45K annual salary in relation to credit limits - so I am not sure of high how of an income they are looking for.

 

I guess I will hold onto the new Bankamericard coming in a couple of weeks and try again in 6 months.  They also mentioned they would like to see high usage of the card and PIF ability in case anyone was looking for a CLI from them.

 

Thanks for your help creditwherecreditisdue!

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Two questions about BofA product change and Best Buy Card


Maclover wrote:

Update - I called the number and spoke to a very nice analyst.  Yup the CLI request done online was declined.  I requested one from him - also declined.  He stated that since I have a $5500 BofA card already I had sufficient credit with them already.  I guess a $6K combined exposure is all they are willing to risk...BTW my reports are spotless other than the current 30% utilization.  They mentioned income level as well - $45K annual salary in relation to credit limits - so I am not sure of high how of an income they are looking for.

 

I guess I will hold onto the new Bankamericard coming in a couple of weeks and try again in 6 months.  They also mentioned they would like to see high usage of the card and PIF ability in case anyone was looking for a CLI from them.

 

Thanks for your help creditwherecreditisdue!


Your welcome!

 

I would give it another try in six months. They can radically change their opinions. I was fed that line once by a not so nice analyst - the next time I went for a CLI the analyst was a nicer person and bumped me from $3.5K to $7.5K. It is all timing with those folks.

Valued Member
Maclover
Posts: 35
Registered: ‎12-15-2008

Re: Two questions about BofA product change and Best Buy Card

Another update - I finally received the decline letter in the mail.  The reason states "according to your credit card agreement, this account is not eligible for an increase".  What does that mean?  How come the credit analyst stated "sufficient credit" yet the letter states "this account is not eligible due to credit card agreement"??

 

Does this mean this account is NEVER eligible for an increase?  Could this have anything to do with the fact that it used to be an emerging (secured) account? 

 

Thanks again.   

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Two questions about BofA product change and Best Buy Card


Maclover wrote:

Another update - I finally received the decline letter in the mail.  The reason states "according to your credit card agreement, this account is not eligible for an increase".  What does that mean?  How come the credit analyst stated "sufficient credit" yet the letter states "this account is not eligible due to credit card agreement"??

 

Does this mean this account is NEVER eligible for an increase?


It could... 


Could this have anything to do with the fact that it used to be an emerging (secured) account? 


and it might have everything to do with that!

 

I think you need to keep making calls to BofA until you get someone over there who can clearly explain to you exactly what is going on. It may take several attempts - call at different times of the day until you get a clear explaination. The quality of the rep's can be very inconsistent.


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