topic Re: BoA CLI with credit balance on card? in Credit Card Approvals

Update Approved: BoA CLI with credit balance on card?

CBrow — Tue, 28 Apr 2020 15:26:54 GMT

Hey y'all,

Some background info: my FICO is 786, and I have two other cards (Discover IT opened 9/2013 at $10.8k and a Costco Visa opened 6/2015 at $18k).

I have a BoA Travel Rewards card and have had the same limit of $3000 since I opened it in June of 2016. Since BoA started doing soft pulls for increases, I though this would be a good time to put one in. But due to COVID-19 and the cancellation of events, I had $1250 refunded to my credit card for some tickets I purchased in November.

Does anyone know if having this credit on my account during an increase request will sway their decision negatively? I was looking to do a $10k limit request.

Thanks!

Re: BoA CLI with credit balance on card?

AverageJoesCredit — Tue, 07 Apr 2020 18:49:09 GMT

@CBrow wrote:
Hey y'all,

Some background info: my FICO is 786, and I have two other cards (Discover IT opened 9/2013 at $10.8k and a Costco Visa opened 6/2015 at $18k).

I have a BoA Travel Rewards card and have had the same limit of $3000 since I opened it in June of 2016. Since BoA started doing soft pulls for increases, I though this would be a good time to put one in. But due to COVID-19 and the cancellation of events, I had $1250 refunded to my credit card for some tickets I purchased in November.

Does anyone know if having this credit on my account during an increase request will sway their decision negatively? I was looking to do a $10k limit request.

Thanks!

Being sp, or should be ,always risk of hp, go ahead and request. I think its worth it but dont short yourself on request. Always shoot a little higher than norm as Boa will counter if you are eligble. Id ask for $15k. Remember Boa often can grant limits up toward 50% of your income without assets or bankong relationship. Good luck

Re: BoA CLI with credit balance on card?

AllZero — Tue, 07 Apr 2020 19:08:25 GMT

Agreed with AJC.

Hope to read of your CLI approval.

Re: BoA CLI with credit balance on card?

CBrow — Tue, 07 Apr 2020 19:10:31 GMT

Wasn't exactly sure what to expect, but they bumped my limit by 3X. Anything is better than nothing

Appreciate the insight!

Re: BoA CLI with credit balance on card?

AllZero — Tue, 07 Apr 2020 19:12:11 GMT

Congratulations on your CLI!

Mark your calender for 91 days since last approval to request another CLI.

Re: BoA CLI with credit balance on card?

Anonymous — Tue, 07 Apr 2020 20:25:12 GMT

@CBrow wrote:
Wasn't exactly sure what to expect, but they bumped my limit by 3X. Anything is better than nothing

Appreciate the insight!

Congratulations on your CLI! 👍

Re: BoA CLI with credit balance on card?

MyFault — Tue, 07 Apr 2020 20:27:44 GMT

Congrats on your CLI!

Re: BoA CLI with credit balance on card?

CreditAggie — Tue, 07 Apr 2020 20:32:57 GMT

@CBrow wrote:
Wasn't exactly sure what to expect, but they bumped my limit by 3X. Anything is better than nothing

Appreciate the insight!

Congratulations on your BofA CLI!

Re: BoA CLI with credit balance on card?

Anonymous — Tue, 07 Apr 2020 20:52:13 GMT

Congratulations!

Re: BoA CLI with credit balance on card?

alain4957 — Tue, 07 Apr 2020 21:21:42 GMT

You nailed it!

Re: BoA CLI with credit balance on card?

M_Smart007 — Tue, 07 Apr 2020 21:37:06 GMT

@AllZero wrote:
Agreed with AJC.

Hope to read of your CLI approval.

Me too

Re: BoA CLI with credit balance on card?

M_Smart007 — Tue, 07 Apr 2020 21:38:12 GMT

@CBrow

Welcome To myFICO Forums and

Re: BoA CLI with credit balance on card?

Anonymous — Wed, 08 Apr 2020 02:40:11 GMT

Congrats

Re: BoA CLI with credit balance on card?

19eighty5 — Wed, 08 Apr 2020 02:45:08 GMT

Congratulations on your CLI approval!

Re: BoA CLI with credit balance on card?

Meanmchine — Wed, 08 Apr 2020 02:49:06 GMT

@AverageJoesCredit wrote:
@CBrow wrote:
Hey y'all,

Some background info: my FICO is 786, and I have two other cards (Discover IT opened 9/2013 at $10.8k and a Costco Visa opened 6/2015 at $18k).

I have a BoA Travel Rewards card and have had the same limit of $3000 since I opened it in June of 2016. Since BoA started doing soft pulls for increases, I though this would be a good time to put one in. But due to COVID-19 and the cancellation of events, I had $1250 refunded to my credit card for some tickets I purchased in November.

Does anyone know if having this credit on my account during an increase request will sway their decision negatively? I was looking to do a $10k limit request.

Thanks!
Being sp, or should be ,always risk of hp, go ahead and request. I think its worth it but dont short yourself on request. Always shoot a little higher than norm as Boa will counter if you are eligble. Id ask for $15k. Remember Boa often can grant limits up toward 50% of your income without assets or bankong relationship. Good luck

EDIT Congrats on CLI

Re: BoA CLI with credit balance on card?

firefox100 — Mon, 27 Apr 2020 18:46:33 GMT

Ok guys I have BOA mastercard with 20K limit which was increase from 18K to 20K on Jam 6 of 2020, at this time have balance of 875 dollars about 5 months ago to 3 percent balance transfer to my checking account been paying 125 to 150permonths. reporting income is 80K and Fico score around 798 no lates, should I go for CLI at this time.start with 1,500 loan.

Re: BoA CLI with credit balance on card?

Eagered2succeed — Tue, 28 Apr 2020 01:32:48 GMT

@firefox100 I'd say go for it and be sure to ask for a good limit too. Shoot for the stars. Goodluck 😁

Re: BoA CLI with credit balance on card?

CYBERSAM — Tue, 28 Apr 2020 05:55:14 GMT

Congrats on your CLI 👍

Just got my 1st BoA CC this month. Thank you guys for so many helpfull infos in here.