topic Re: How big of a CLI should we ask BoA for? in Credit Card Applications

How big of a CLI should we ask BoA for?

Anonymous — Fri, 16 Nov 2018 13:34:46 GMT

So my SO has a Bank of America Cash Rewards card with a $700 SL. It is about to hit the 3 month mark, which means it’s going to be eligible for a CLI soon. We’ve heard they are generous with increases, but are unsure exactly how much to ask for.

Her FICO scores are all in the upper 740s, we’ve been putting moderate spend through the card (just enough to earn the SUB), and our household income is about 60k. When the time comes, she’ll have 6 months of credit history, 4 accounts in the last 6 months, and her highest limit will be at 6k.

Should we ask BoA to match her current limit, or aim higher? If we use the luv button online and aim too high, will it counter? Thanks in advance!

Re: How big of a CLI should we ask BoA for?

ChessChik47 — Fri, 16 Nov 2018 16:40:44 GMT

@Anonymous wrote:
So my SO has a Bank of America Cash Rewards card with a $700 SL. It is about to hit the 3 month mark, which means it’s going to be eligible for a CLI soon. We’ve heard they are generous with increases, but are unsure exactly how much to ask for.

Her FICO scores are all in the upper 740s, we’ve been putting moderate spend through the card (just enough to earn the SUB), and our household income is about 60k. When the time comes, she’ll have 6 months of credit history, 4 accounts in the last 6 months, and her highest limit will be at 6k.

Should we ask BoA to match her current limit, or aim higher? If we use the luv button online and aim too high, will it counter? Thanks in advance!

Hi! Feel free to ask for whatever amount you want; if you get an instant approval usually that means you have not hit your limit with BOA, but don't try to ask again for 90 days or so. BOA will counter if you asked for more than they are comfortable with lending. Good luck!

Re: How big of a CLI should we ask BoA for?

Anonymous — Fri, 16 Nov 2018 17:09:09 GMT

@Anonymous wrote:
So my SO has a Bank of America Cash Rewards card with a $700 SL. It is about to hit the 3 month mark, which means it’s going to be eligible for a CLI soon. We’ve heard they are generous with increases, but are unsure exactly how much to ask for.

Her FICO scores are all in the upper 740s, we’ve been putting moderate spend through the card (just enough to earn the SUB), and our household income is about 60k. When the time comes, she’ll have 6 months of credit history, 4 accounts in the last 6 months, and her highest limit will be at 6k.

Should we ask BoA to match her current limit, or aim higher? If we use the luv button online and aim too high, will it counter? Thanks in advance!

I think 3X the current limit is a good guideline to follow.

My Cash Rewards card started at $2,000 and 14 months later the credit limit is at $37,000.

08/23/17 - $2,000 - 647 EX FICO 8 Hard pull

11/25/17 - $5,900 - 655 TU FICO 8 Hard pull

03/26/18 - $13,000 - 702 TU FICO 8 Hard pull

07/03/18 - $23,100 - 693 TU FICO 8 Soft pull

10/05/18 - $37,000 - 751 EX FICO 8 Soft pull

All the increases were counter-offers from what I originally requested and as you can see from the first two CLIs, they came in at under 3X the previous limit. Of course her credit scores are better than mine were, but I had a larger income so YEMV. I use it as my daily driver so even though I actually use just a small percentage of the limit it generates lots of swipe fees.

Re: How big of a CLI should we ask BoA for?

Malcono — Fri, 16 Nov 2018 17:07:06 GMT

Feel free to aim a bit higher.
If it's too high for BoA, they will counter with a lower limit.
Good luck!

Re: How big of a CLI should we ask BoA for?

Anonymous — Fri, 16 Nov 2018 17:44:32 GMT

Go big or go home!

Re: How big of a CLI should we ask BoA for?

Cred4All — Fri, 16 Nov 2018 20:08:47 GMT

@Anonymous wrote:
Go big or go home!

Second that! My BOA card was only a $2,000 SL. Until finding this forum, it stayed that way for years. Not too long ago I called them and asked for an increased, specifically $12,000 (10k increase) and was immediately approved. Ask for what you want, as long as your salary/history match that I doubt you'll be disappointed.

Re: How big of a CLI should we ask BoA for?

Anonymous — Fri, 16 Nov 2018 20:57:46 GMT

There is no way Bank of America will give a five-digit CLI to someone with the credit profile described in the first comment. I wish I would be proven wrong.

Re: How big of a CLI should we ask BoA for?

Cred4All — Fri, 16 Nov 2018 21:59:44 GMT

Positive thoughts! Worst that can happen is they say "Hey, we like your enthusiasm, here is half that number."

Re: How big of a CLI should we ask BoA for?

AverageJoesCredit — Fri, 16 Nov 2018 23:25:45 GMT

100k

Re: How big of a CLI should we ask BoA for?

Lemark — Sat, 24 Nov 2018 18:40:47 GMT

I'll say 2x or 3x current SL is good to ask for. They will counter or approve the amount you request. If you have multiple cards with BOA I'll recommend you start with the card you want the highest SL on the most e.g a card below signature of 5k to go over 5k and become signature. I just spoke with rep who said there is no HP no matter the number of cards so I requested on 3 cards and got approved for each some were 3x, 2x and inbetween. So got over 20K increase across all cards. Even though agent said no limit to request, I'll still take precaution and keep to maybe 30 day or 2 month time frame.

Re: How big of a CLI should we ask BoA for?

Anonymous — Mon, 26 Nov 2018 07:00:38 GMT

Amazing CLI history w BofA. Congrats... Question...Why were the last few CLI's only SP's and first ones HP's? Thx

Re: How big of a CLI should we ask BoA for?

FinStar — Mon, 26 Nov 2018 17:52:32 GMT

@Anonymous wrote:
Amazing CLI history w BofA. Congrats... Question...Why were the last few CLI's only SP's and first ones HP's? Thx

M

BoA changed their internal UW origination policy for CLI requests several months ago. The SP policy only applies to CLIs (or CL reallocations) not new accounts.

Re: How big of a CLI should we ask BoA for?

MyDataMyChoice — Mon, 26 Nov 2018 18:07:46 GMT

I would ask for 25K let them counter.... prob give you 5K

Re: How big of a CLI should we ask BoA for?

Creditobsessed12 — Mon, 26 Nov 2018 18:31:01 GMT

I thought BoA hard pulls?

Re: How big of a CLI should we ask BoA for?

FinStar — Mon, 26 Nov 2018 19:11:03 GMT

@Creditobsessed12 wrote:
I thought BoA hard pulls?

@Creditobsessed12, you may want to reference the link below. It's been active since May of this year:

https://ficoforums.myfico.com/t5/Credit-Cards/BoA-to-stop-HPs-for-CLI-s/td-p/5250589

Re: How big of a CLI should we ask BoA for?

Creditobsessed12 — Mon, 26 Nov 2018 20:06:16 GMT

Wow thanks!!! i just got my BoA card from $2500 to $5000 and I had just gotten an auto CLI from 500 to 2500 last month! Pretty cool. Thanks!!!!

Re: How big of a CLI should we ask BoA for?

Anonymous — Sat, 01 Dec 2018 17:22:13 GMT

Update: The card hit the 3 month mark yesterday. We used the luv button online, asked for 10k, and they countered with 3.2k, still nearly 5x the SL. Not bad, not bad at all.

Re: How big of a CLI should we ask BoA for?

Anonymous — Sat, 01 Dec 2018 18:10:58 GMT

Well...

Re: How big of a CLI should we ask BoA for?

UncleB — Sun, 02 Dec 2018 00:54:52 GMT

As the CLI was approved this thread is now locked and closed to new messages.

@Anonymous, if you would like to continue the discussion on your CLI you are welcome to start a thread in Credit Card Approvals.

--UB