Moderator Emeritus
Posts: 14,711
Registered: ‎12-30-2011
BOFA graduation - halfway
[ Edited ]

For those that have been playing with secured card graduation limits with BOFA, while I graduated today they wouldn't approve me at the full limit I had, even though I'd run more through the card than that and was only carrying a balance of $100.


Card Opened: $2000

Card Max Limit: $5000 (increased back in July)

Card Grad Limit: $2500

Card Max Balance: $3600


I know this is going to look wierd, and something akin to AA, but I simply decided that an unsecured $2500 line along with the extra 5K to help negotiate with the IRS would be beneficial.  They did bring up my albatross of a tax lien as one of the factors for the reduced limit.  They also mentioned a pair of collections which had been paid, though apparently one may not have been updated on TU.  Going to pull the annual report and dispute it if it hasn't updated.


In theory if everything had been resolved on my tax lien perhaps I might've graduated at the full amount, or possibly there's an upper bound on graduation limit though I doubt that's the case.  In any event what's done is done, though I thought about simply declining the unsecuring for now (since other than a mortgage I'm not apping for anything and FICO doesn't care nor will a mortgage lender) and trying to get it at $5K later as apparently one can customer-initiate the card to be unsecured, but whatever.  I expect by mid-2014 I'll have either an Amex revolver, a USAA or DCU card, or this BOFA one back above 5K so long-term it won't be an issue though the high balance looks strange, it should be easily explainable.


Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 693, EQ 8 714, TU 8 710, EX 8 724 (05/27/16)
Goal Score: 700 on EQ 04 (01/01/17)

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