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I have very little debt, a car payment and one credit card, bofa (99/500).
car is over half way payed off, my credit card will be about 1/5 payed off after my next payment. no lates, nothing bad what so ever on the big three.
my score is about 720. should i push bofa to up my limit before going after other cards Chase,Discover, etc.
@Anonymous wrote:I have very little debt, a car payment and one credit card, bofa (99/500).
car is over half way payed off, my credit card will be about 1/5 payed off after my next payment. no lates, nothing bad what so ever on the big three.
my score is about 720. should i push bofa to up my limit before going after other cards Chase,Discover, etc.
Pulling the trigger with BOA if it's not a hard inquiry, won't kill your chances of getting approved with Chase, Discover and etc. Good luck!
I assume when i call bofa and ask them for a credit increase they will do a hard pull, also.. when I said "pull the trigger"
I was referring to trying another credit card company, so maybe I could actually have TWO cards...
From what i understand, the limit of your current card(s) will influence the limit of the card you are applying for. searching for a 3/5k card.. just to get a better debt to credit ratio, and if I do decide to buy something and pay it off in three months, my credit won't take a big hit...
@Anonymous wrote:I assume when i call bofa and ask them for a credit increase they will do a hard pull, also.. when I said "pull the trigger"
I was referring to trying another credit card company, so maybe I could actually have TWO cards...
From what i understand, the limit of your current card(s) will influence the limit of the card you are applying for. searching for a 3/5k card.. just to get a better debt to credit ratio, and if I do decide to buy something and pay it off in three months, my credit won't take a big hit...
Have you tried the CLI link when you log into your online account? That is sufficient enough. You may get a 7-10 notice or you may get a notice to call them.
Limits on other cards does have an influence on how much the new bank will approve you for.
circuitt wrote:
I have very little debt, a car payment and one credit card, bofa (99/500).
car is over half way payed off, my credit card will be about 1/5 payed off after my next payment. no lates, nothing bad what so ever on the big three.
my score is about 720. should i push bofa to up my limit before going after other cards Chase,Discover, etc.
@haulingthescoreup wrote:
@Anonymous wrote:I have very little debt, a car payment and one credit card, bofa (99/500).
car is over half way payed off, my credit card will be about 1/5 payed off after my next payment. no lates, nothing bad what so ever on the big three.
my score is about 720. should i push bofa to up my limit before going after other cards Chase,Discover, etc.
Just want to make sure what you mean by "push bofa up to my limit" --do you mean run the balance on the card up to nearly $500, or what?
I think they meant ask for a CLI not max out their card. I think????
Now I'm confused.
"should i push bofa to up my limit"
As in, should I push for a Credit Limit Increase. I am not really pushing bofa, guess I should of picked a better word.
I just want to make sure I am good to go, don't want to get hard pulls untill the odds are more in my favor.
Just looking for a little advice. if you were me , what would you do?
@Anonymous wrote:"should i push bofa to up my limit"
As in, should I push for a Credit Limit Increase. I am not really pushing bofa, guess I should of picked a better word.
I just want to make sure I am good to go, don't want to get hard pulls untill the odds are more in my favor.
Just looking for a little advice. if you were me , what would you do?
Just ask for a CLI but also ask if it will be a hard or soft inquiry. People do it all the time. It's nothing unusual. If they say no you might request a reconsideration.
Hi circuit!
circuitt wrote:I have very little debt, a car payment and one credit card, bofa (99/500).
car is over half way payed off, my credit card will be about 1/5 payed off after my next payment. no lates, nothing bad what so ever on the big three.
my score is about 720. should i push bofa to up my limit before going after other cards Chase,Discover, etc.
Has your card unsecured yet (security deposit returned)? And, if it has, has it been at least 4 to 6 months since it unsecured? Maybe someone with more experience with the 99/500 product will chime in, but I don't think (could be mistaken) that their partially secured card is eligible for CLIs until it graduates. And, once it graduates, you may get a CLI upon graduation, if not, they usually want you to wait and demonstrate responsible usage for awhile. PIFing helps.
Even more importantly, you mentioned that the card will be about 1/5 (or 20%) paid off-- that would indicate that you'd still be maxed out at about 80%. If this is your only card, you definitely don't want to go after other cards with 80% uti. You'll need to PIF and let it report, as was previously mentioned.