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

Re: Will the Retention Department up a credit limit?

Well the "good" about BofA would not include their treatment of you if they (correctly or incorrectly) perceive that you have crossed the line.  Calls to BofA in pursuit of CLI's have be known to lead them to draw their own conclusions regarding your account whilst they have their focus on it which are not always favorable to the inquirer and have had devastating consequences. I would make sure your house is 110% in order before calling them for anything that will spark an MR of your account.
Valued Contributor
wmarat
Posts: 1,754
Registered: ‎11-03-2007

Re: Will the Retention Department up a credit limit?

My house 150% in order and I did not call and still was CLDed.

 

They do not mind to lose all my depository accounts (5 figures), but refuse to reinstate CL's.

IN VINO VERITAS.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Will the Retention Department up a credit limit?


wmarat wrote:

My house 150% in order and I did not call and still was CLDed.

 

They do not mind to lose all my depository accounts (5 figures), but refuse to reinstate CL's.


 

Your transgression was new accounts and a high amount of available revolving credit. It's BofA's perception of how orderly your house is and not yours that matters. Combine that with the fact that they are fickle (constantly changing policies and instituting AA pogroms) and that it also matters greatly which CSR or credit analyst you speak to and you end up with a situation where it is very risky to call and ask for anything.
Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009

Re: Will the Retention Department up a credit limit?

I was  a front-line and supervisor CSR at one of the top 3 card issuers in the US, so I am speaking from experience when I tell you that threatening to close an account in order to get a fee removed, a better APR, or CLI is not a good method of attack...

 

There was nothing I enjoyed more after getting a few hours of getting treated like dirt by unhappy customers than to have an irate customer threaten to close an account and me clicking the button before they even finish their breath.  It's amazing how refreshing it was to end a conversation with a (former) cardholder that refused to be rational/polite with "Thank you, your card is now closed.  Please be advised that no further charges will be honored to the account, and your information will be updated with the credit bureaus within 30 days.  Is there anything else I can help you with?"

 

Obviously, this stopped people in their tracks, and more often than not, the account could be re-opened with another click, but pride often got in the way of a caller asking to be re-instated after the previous conversation.

 

Tread lightly, and remember that CSRs are just doing what their computer screen tells them to do.  They do not get performance bonuses for doing the right thing for the customer or bank, they get them for having short call times, selling you a sponsored product, or getting you to do a balance transfer.  Losing a "good" customer just means once less caller in the queu when you look down at your phone stats.

 

Good luck.

 

(Oh, and I have been trying with Cap1 for months... will not budge on CL, through main number, retention, supervisor, back door, credit analyst, etc.  Been told by the credit department that they wouldn't do a hard pull even if I wanted them to, but they could see from the soft that there is no reason for me to not get a CLI, other than the fact that they are not doing customer-initiated ones right now)

Established Member
jthompson5254
Posts: 32
Registered: ‎09-22-2008

Re: Will the Retention Department up a credit limit?


jausanka wrote:

There was nothing I enjoyed more after getting a few hours of getting treated like dirt by unhappy customers than to have an irate customer threaten to close an account and me clicking the button before they even finish their breath.  It's amazing how refreshing it was to end a conversation with a (former) cardholder that refused to be rational/polite with "Thank you, your card is now closed.  Please be advised that no further charges will be honored to the account, and your information will be updated with the credit bureaus within 30 days.  Is there anything else I can help you with?"

 

Tread lightly, and remember that CSRs are just doing what their computer screen tells them to do.  They do not get performance bonuses for doing the right thing for the customer or bank, they get them for having short call times, selling you a sponsored product, or getting you to do a balance transfer.  Losing a "good" customer just means once less caller in the queu when you look down at your phone stats.


 

Maybe customers were unhappy or irate because your company was treating them like **bleep**. Raising there interest rate after being late once or over the limit once. And now companies are raising the limits on customers who are perfect when it comes to paying on-time and not going over. I'm sorry but 29% is ludacrious, thats almost a third of the amount per year, that means if I have a balance for 3 years I've paid the amount of the balance just in interest. Now I know you don't make the policies of your bank, but you are the only one they can talk to.

Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009

Re: Will the Retention Department up a credit limit?


jthompson5254 wrote:

jausanka wrote:

There was nothing I enjoyed more after getting a few hours of getting treated like dirt by unhappy customers than to have an irate customer threaten to close an account and me clicking the button before they even finish their breath.  It's amazing how refreshing it was to end a conversation with a (former) cardholder that refused to be rational/polite with "Thank you, your card is now closed.  Please be advised that no further charges will be honored to the account, and your information will be updated with the credit bureaus within 30 days.  Is there anything else I can help you with?"

 

Tread lightly, and remember that CSRs are just doing what their computer screen tells them to do.  They do not get performance bonuses for doing the right thing for the customer or bank, they get them for having short call times, selling you a sponsored product, or getting you to do a balance transfer.  Losing a "good" customer just means once less caller in the queu when you look down at your phone stats.


 

Maybe customers were unhappy or irate because your company was treating them like **bleep**. Raising there interest rate after being late once or over the limit once. And now companies are raising the limits on customers who are perfect when it comes to paying on-time and not going over. I'm sorry but 29% is ludacrious, thats almost a third of the amount per year, that means if I have a balance for 3 years I've paid the amount of the balance just in interest. Now I know you don't make the policies of your bank, but you are the only one they can talk to.


I'm not sure if you were intending your post to convince me that credit card companies are bad, or if CSRs are bad, or just venting... but I can say that the CSR has nothing to do with the rate you are paying, nor do they really care.  A CSR's job is to serve the bank and the customer when their goals are symbiotic, when they diverge, it is the CSR's job to make the right decision for the bank.

 

That being said, it has nothing to do with the OP or the discussion in this thread.  The question was whether a retention specialist will increase your CL.  A retention specialist is specifically there to prevent profitable or desirable customers from taking their business elsewhere.  If their computer screen and the bank's scoring/profitability algorithm tells them to keep you, they will do everything in their power to do so.  However, the suggestion of threatening to close the account, as has been said by many others, is a double edged sword.  If you are not prepared to have your account closed instantly, do NOT make the threat.  The retention specialist will give you anything they are authorized to offer if you request it.  You don't make yourself eligible for anything by threatening them/the bank.

 

As always, YMMV.

Established Member
jthompson5254
Posts: 32
Registered: ‎09-22-2008

Re: Will the Retention Department up a credit limit?

Ok, I was pretty much venting. Ok, so don't threaten to close your account unless your ready to close your account and threatening isn't the best way to try to do it. Seems like CapOne is not raising credit limits, so I won't ask.

 

 

New Contributor
LustForTheMoment
Posts: 65
Registered: ‎03-24-2007

Re: Will the Retention Department up a credit limit?


so I am speaking from experience when I tell you that threatening to close an account in order to get a fee removed, a better APR, or CLI is not a good method of attack...

 


 

 

 

Don't you get to a retention specialist only when you ask to close an account???? How do folks get to the retention CSRs without asking to cancel a card???????

-------------------------------------------------

EQ FICO...816
Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009

Re: Will the Retention Department up a credit limit?

What I would personally recommend, and as with everything else, I'm sure there are many different opinions and YMMV, but if you go with something more basic like:

"My other cards have grown with me and typically have a credit line of XXX... I am looking for a card that I can consolidate my debt onto, or run my monthly expenses through.  I can't do either of those with this credit line of xxx... Would you please raise my limit to be comparable/competitive with my other accounts?" or something to that effect...

 

But yes, like you said, probably not going to work on Cap1 right now...

Frequent Contributor
jausanka
Posts: 483
Registered: ‎05-06-2009

Re: Will the Retention Department up a credit limit?

If you ask for a rate adjustment, press hard on a CLI, or indicate your "disinterest" in paying an AF or something similar, you can get to a retention specialist.  Also, if you ask "Could I please speak to a retention specialist" you will get there.  Also, supervisors typically have all the same powers as the "retention specialist" you would get transferred to, so asking for a supervisor or calling a backdoor supervisor number (not credit analyst) gets you to the same place.

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