topic Re: Bam. Another BoA CLI! in Credit Card Approvals

Bam. Another BoA CLI!

CBrow — Mon, 25 Jan 2021 21:31:56 GMT

Well here we go again. 3 months after my last increase with Bank of America, they decide to keep going. Same financial details as the last request, but only a 8.7k bump this time (asked for $60k). I'll take it. Anyone have any idea what their threshold is regarding credit limit as a ratio of total yearly income?

This has been my go to online card, so it doesn't see a huge amount of charges on it, but apparently enough.

Since 3/2020: 3k > 9k > 18k > 34.3k > 43k

Re: Bam. Another BoA CLI!

AllZero — Mon, 25 Jan 2021 17:10:13 GMT

Congratulations on your CLI!

Re: Bam. Another BoA CLI!

Credit4Growth — Mon, 25 Jan 2021 17:14:43 GMT

That is just about a $9K CLI, Congratulations on robbing the bank!

Re: Bam. Another BoA CLI!

cashorcharge — Mon, 25 Jan 2021 17:49:55 GMT

That's terrific!! Congratulations on your approval!

I have read that the max is $99,000 but I don't recall if that's a "card" limit or a "POI" limit. I know we have some BofA gurus that can help.

Re: Bam. Another BoA CLI!

CreditMagic7 — Mon, 25 Jan 2021 18:24:30 GMT

Bam sham-a-lam! Miss my BofA card accounts. They were steady performers and APR reducers too.

Big Congratulations on maintaining them and your CLI.

Re: Bam. Another BoA CLI!

wowzera — Mon, 25 Jan 2021 19:11:25 GMT

Congratulations for your CLI @CBrow !!!

If you don't mind, could you please tell us if you regularly use your card and which average monthly value you expend on your card? Also, do you have a checking account and use it regularly?

I'm asking because I've a BofA Cashback Rewards since 11/2018 and can't go pass the 8k CL. The CLI button is gone since March/2020, but I almost never use the card, even though I occasionally use my checking account (opened in 07/2018).

Re: Bam. Another BoA CLI!

2ski — Mon, 25 Jan 2021 20:05:45 GMT

@CBrow wrote:
Well here we go again. 3 months after my last increase with Bank of America, they decide to keep going. Same financial details as the last request, but only a 8.7k bump this time (asked for $60k). I'll take it. Anyone have any idea what their threshold is regarding credit limit as a ratio of total yearly income?

This has been my go to online card, so it doesn't see a huge amount of charges on it, but apparently enough.

Since 3/2020: 3k > 6k > 18k > 34.3k > 43k

Congradulations on the CLI ! It looks like it's been a great year with BOFA for you.

I am just days away from pushing for a large CLI.

One of the best members for BOFA knowledge is @FinStar, and he might be able to shed some light on the maximum CL vs. yearly Income ratio for BOFA.

I could have sworn in the BOFA 99k thread someone had said they thought it was 50% of yearly income was the max CLI they would give you. Please don't quote me on that. I tried to find it but was unable to locate it in the thread. That's an impressive CL congradulations again!

Re: Bam. Another BoA CLI!

CBrow — Mon, 25 Jan 2021 20:05:12 GMT

@wowzera wrote:
Congratulations for your CLI @CBrow !!!
If you don't mind, could you please tell us if you regularly use your card and which average monthly value you expend on your card? Also, do you have a checking account and use it regularly?

I'm asking because I've a BofA Cashback Rewards since 11/2018 and can't go pass the 8k CL. The CLI button is gone since March/2020, but I almost never use the card, even though I occasionally use my checking account (opened in 07/2018).

@wowzera Gym membership is auto charged to this card, so at minimum $40/month. I would say the card gets used a couple times a month. Average spend is usually around $50-250 depending on what online expenses come up for the month (i.e. vehicle licensing, Amazon, etc.). I used to use this credit card back in college for paying rent, so my spend was over $1000/month (but this was a few years ago), always PIF the day the statement cuts.

I don't have a relationship with BoA besides the credit card. All of my banking is done with different financial institutions. The income I report to them is close to 6 figures.

Re: Bam. Another BoA CLI!

TSlop — Mon, 25 Jan 2021 20:05:29 GMT

Congrats on your CLI!

Re: Bam. Another BoA CLI!

dudefromtx — Mon, 25 Jan 2021 20:53:43 GMT

Congrats on your CLI!

Re: Bam. Another BoA CLI!

gdale6 — Mon, 25 Jan 2021 22:14:18 GMT

Grats on the new CLI

I do believe BoA is around 50% of income for overall exposure. Some of said they have more. Interesting you only have a 200 cash line and its not increasing with the CLIs. Never seen that one before,

Re: Bam. Another BoA CLI!

2ski — Mon, 25 Jan 2021 22:48:14 GMT

@gdale6 wrote:
Grats on the new CLI

I do believe BoA is around 50% of income for overall exposure. Some of said they have more. Interesting you only have a 200 cash line and its not increasing with the CLIs. Never seen that one before,

I agree the 200.00 is strange. I have 12,500 CL and they have me at 200 cash line as well. I have had this card for 10 years and have a clean file.

It hasn't been like that since I can remember, but not sure when they changed it. May be a reaction to the economic enviroment.

Re: Bam. Another BoA CLI!

CBrow — Mon, 25 Jan 2021 22:54:13 GMT

@gdale6 wrote:
Grats on the new CLI

I do believe BoA is around 50% of income for overall exposure. Some of said they have more. Interesting you only have a 200 cash line and its not increasing with the CLIs. Never seen that one before,

@gdale6 @2ski I believe @growthadvocate mentioned in my last CLI post that the cash advance limit is separate from the normal CLI request, so if you don't ask, it doesn't move. But yeah, it seems like a joke to have the limit be 0.5% of the total credit limit.

Re: Bam. Another BoA CLI!

Anonymous — Wed, 10 Feb 2021 19:04:20 GMT

Lately most banks have stopped giving good cash advance limit...Chase is the latest as it has slashed it too to everyone 5 months back, otherwise their cash advance limit out of total limit was generous before. I personally don't understand why its so...I understand banks want us to use their cards so that they can get merchant fees as well, but using/taking cash advance will also make them big money thru 3-5% cash advance fees right up front...which is more than merchant fees. To me, it just doesn't make any sense.

OP- Congratulation....Given the spending trend you have mentioned on this card and the age of the card itself, I believe luck has been with you, otherwise I have couple of friends who have this card for the same time you have but with heavy spend than yours, yet still they were denied CLI lately despite of having a thick profile and no any baddies...Sometimes luck does play a role in this game of credit, in my opinion....which we call it "Your Mileage differs"....Enjoy the increase...

Re: Bam. Another BoA CLI!

Anonymous — Wed, 10 Feb 2021 19:04:56 GMT

@CBrow ...I know you love increases like we all do...but don't u wanna slow down a bit on it..lols...unless you don't mind providing POI upon asked....Given such credit limit, very high chances that one could ask for POI , just a matter of time when though....Chase did freez all my cards with them and demanded POI...and many more banks...Amex is well known to do this....all my friends got POI request by Amex even though they had way lower than $15k in combined limit...This much limit does come under financial review sooner or later....just my 2 cents buddy...

Re: Bam. Another BoA CLI!

CreditAggie — Mon, 25 Jan 2021 23:54:20 GMT

Congratulations on your BofA CLI!

Re: Bam. Another BoA CLI!

CreditCuriosity — Tue, 26 Jan 2021 00:31:50 GMT

as echoed above approx 50% of income is what I have seen from others and my own experience between personal/business.

Re: Bam. Another BoA CLI!

barca — Tue, 26 Jan 2021 00:53:27 GMT

Congrats OP

@Anonymous

like you said it is all about YMMV.

I have 99.9K credit line on the cash rewards and they never asked for POI.

oh - did I mention I got 65K auto loan from them 3 years ago, no POI .

Even though I burn them heavily during the 2009/2010 financial crisis.

anytime I speak to CS - I am greeted well and they reference thank you for being a customer since 2005 - lol

the max credit line = half of income in my opinion is a myth

although I report 200K as income , I still believe I will pass the 99.9K CL very soon

Re: Bam. Another BoA CLI!

Anonymous — Tue, 26 Jan 2021 03:07:29 GMT

@barca wrote:
Congrats OP

@Anonymous
like you said it is all about YMMV.

I have 99.9K credit line on the cash rewards and they never asked for POI.
oh - did I mention I got 65K auto loan from them 3 years ago, no POI .

I am sure you know that its not norm for a lender to give this much credit limit and never asking for POI...Just because you have not asked so far for POI then it doesn't mean you will never be asked for. And its not necessary for them to ask POI at the time of increasing CL, rather they could ask for it at anytime...and there are many banks which periodically review accounts, and Bank of America is one of them. I also burned them a big time while I was a student, and I've been barred for life by BOA. But they are still giving you credit after burning them just a few years back and gave you this much unprecedented credit line then it shows to prove that YMMV...I burned them 28 yrs ago and I am still barred for life, you burned them only a few years ago and still got this much limit...So, its all about individual's luck and bad luck, I would say.....Nevertheless, I am very happy that you are not barred by them and was able to get this much line of credit without POI...Good for you...God bless you...

Re: Bam. Another BoA CLI!

barca — Tue, 26 Jan 2021 02:44:14 GMT

@Anonymous I agree with everything you said . It boils down to luck .

even the OP indicated he spends very little on the card, yet he got 43K.

btw - if you want to come back to BOA -

I suggest you open checking and savings with them , then app for a credit card after few months