topic Re: Interesting Letter regarding my BoA CLI approval in Credit Card Applications

Interesting Letter regarding my BoA CLI approval

Taurus22 — Mon, 20 Sep 2021 00:44:08 GMT

So after receiving the BoA CLI this past week, I received a letter with some interesting verbage. This was my first CLI with BoA, so also my first letter like this from them. It was interesting that although BoA pulled EX for me when I applied for the card, they SP'ed TU for the CLI request, and that my TU score was actually higher than I see reported.

The weird part, is in the 3rd image "FCRA notice" .....it's worded as if there may have been reason for TU to take adverse action, but did not do so. Is this just standard "cut and paste" verbage included with all CLI notices, whether approved or not?.......or what?

Re: Interesting Letter regarding my BoA CLI approval

simplynoir — Mon, 20 Sep 2021 00:50:10 GMT

That's a new one for me. The "did not" portion to go with the rest of that paragraph seems... unnecessary in its entirety if they didn't do anything in the first place

Re: Interesting Letter regarding my BoA CLI approval

Taurus22 — Mon, 20 Sep 2021 01:00:39 GMT

I know right? This was a CLI, not an AA event. Just weird....

Re: Interesting Letter regarding my BoA CLI approval

simplynoir — Mon, 20 Sep 2021 01:03:46 GMT

Well, the second sentence on is fair because that's a right the consumer has if there are any inaccuracies that lead to a score different than what the person expects. But the fact they mentioned TU did not take any adverse action is a head scratcher

Re: Interesting Letter regarding my BoA CLI approval

chiefone4u — Mon, 20 Sep 2021 01:50:02 GMT

@Taurus22 wrote:
So after receiving the BoA CLI this past week, I received a letter with some interesting verbage. This was my first CLI with BoA, so also my first letter like this from them. It was interesting that although BoA pulled EX for me when I applied for the card, they SP'ed TU for the CLI request, and that my TU score was actually higher than I see reported.

The weird part, is in the 3rd image "FCRA notice" .....it's worded as if there may have been reason for TU to take adverse action, but did not do so. Is this just standard "cut and paste" verbage included with all CLI notices, whether approved or not?.......or what?

I read it not that Transunion could have taken adverse action, but that Transunion played no part in the actions the bank took.

It is worded differently than some banks, but in general the same as most of my lenders.

The wording I believe was placed in the letter because so many people (you can find several instances on this board) think the CRA makes the decision and gets mad because Experian, Equifax or Transunion denied their CLI request... when as most of here know, the bank uses the information in those files to make a decision.

It's an attempt to keep you from calling Transunion to find out why your credit limit is only $11600.

Re: Interesting Letter regarding my BoA CLI approval

Taurus22 — Mon, 20 Sep 2021 02:24:29 GMT

@chiefone4u So the curiousity there is.....why does it make it sound like an AA might have been warranted at all?

Re: Interesting Letter regarding my BoA CLI approval

chiefone4u — Mon, 20 Sep 2021 02:44:59 GMT

@Taurus22 wrote:
@chiefone4u So the curiousity there is.....why does it make it sound like an AA might have been warranted at all?

I think the AA has to do with factors in the credit report limiting how much credit was granted. It is *possible* with a higher score they would have given OP $50,000, so the AA was not extending as much as they otherwise would qualify for.

(Pure speculation)

Re: Interesting Letter regarding my BoA CLI approval

cashorcharge — Mon, 20 Sep 2021 04:15:31 GMT

First off, congrats on your CLI

Yes, several DP's note they HP EX for new apps but SP TU for CLI's and the score they provide you is TU F8 if you've agreed to see it online.

As for that last part, I am leaning towards "boiler plate lingo" since they didn't give you what you requested so while not a decline, not a completely fulfilled request as per what you asked versus granted.

Re: Interesting Letter regarding my BoA CLI approval

Taurus22 — Mon, 20 Sep 2021 04:16:16 GMT

@cashorcharge I do have visibility of the TU score BoA provides on my portal, and it shows 815....as it does with my other lenders as well. Interesting that they pulled at 822. I'll take it.

And the AA comment is still just strangely worded. The CLI was obviously approved either way, no complaints at all. Requested $15k (shot in the dark) so it wasn't too far off. Just thought it would be interesting to show the weirdness of the verbage.

Re: Interesting Letter regarding my BoA CLI approval

FinStar — Mon, 20 Sep 2021 05:10:37 GMT

@Taurus22 wrote:
I know right? This was a CLI, not an AA event. Just weird....

Just for reference, the FCRA language or disclosure is addressed as part of AA when the lender is required to inform you whenever the intended request was only partially fulfilled or granted. In other words, such communication is fairly standard. For instance, when declined for a particular loan (i.e. any origination or extension thereof) it is considered an Adverse Action by a variety of lenders. This is more or less regulatory 'CYA' on their part.

I wouldn't read too much into it or lose sleep over it. You got a partial increase approved and life goes on 👍

Re: Interesting Letter regarding my BoA CLI approval

Taurus22 — Mon, 20 Sep 2021 06:20:09 GMT

Well that makes sense. And this is not intended as a trot, but I honestly have never been denied a CC, and this is the first time I've had a letter worded with "adverse action" in response to a CLI approval. Other CLI approval letters I've ever received from other lenders weren't as oddly worded. All is good......just found it to be peculiar.

Re: Interesting Letter regarding my BoA CLI approval

Puppetmaster — Mon, 20 Sep 2021 08:41:32 GMT

@Taurus22,

There was an adverse action taken by BoA, as explained in the first sentence of the first clip. The adverse action was that the CLI granted was less than the CLI you requested. The boilerplate explanation that TU didn't initiate the adverse action, is normal. There is nothing to be surprised or concerned about here.

@Taurus22 wrote:
So after receiving the BoA CLI this past week, I received a letter with some interesting verbage. This was my first CLI with BoA, so also my first letter like this from them. It was interesting that although BoA pulled EX for me when I applied for the card, they SP'ed TU for the CLI request, and that my TU score was actually higher than I see reported.

The weird part, is in the 3rd image "FCRA notice" .....it's worded as if there may have been reason for TU to take adverse action, but did not do so. Is this just standard "cut and paste" verbage included with all CLI notices, whether approved or not?.......or what?

Re: Interesting Letter regarding my BoA CLI approval

arunkumarmm — Mon, 20 Sep 2021 10:36:00 GMT

@Taurus22 wrote:
@cashorcharge I do have visibility of the TU score BoA provides on my portal, and it shows 815....as it does with my other lenders as well. Interesting that they pulled at 822. I'll take it.

And the AA comment is still just strangely worded. The CLI was obviously approved either way, no complaints at all. Requested $15k (shot in the dark) so it wasn't too far off. Just thought it would be interesting to show the weirdness of the verbage.

As mentioned, AA is because you did not get what you requested for. The 815 you see might be from the monthly pull which might be old. 822 is from the date you requested CLI. Chances are, your score went up.

Re: Interesting Letter regarding my BoA CLI approval

Anonymous — Mon, 20 Sep 2021 12:01:43 GMT

@Taurus22

Congrat...Like others have already said that there is nothing to read into...At times some lenders have different strokes whenever they do CLI or decline an application for a credit. I saw exactly the same letter/wording 3 weeks ago on a different forum from BOA when a person requested for a CLI. He also didn't get the full requested-amount, rather a partial one. I would say- different UWs send out different verbage..I wouldn't be worry...

By the way, do you have any data-point? When this account opened, how was the usage/spend on this account since it opened, SL, any new accounts and inquiries in 6-12-24 months??

Re: Interesting Letter regarding my BoA CLI approval

Taurus22 — Mon, 20 Sep 2021 19:44:48 GMT

@Anonymous I posted this in the approvals section, but for your benefit...

BoA CR (Customized Cash)

Opened in 2018..... SL $6000

CLI requested $15k, $11,600 received

Currently 0/6, 0/12, 1/24 (May '20)

TU for CLI = 0 INQ's

Scores are updated in siggy

Spend has been light, category set for online shopping (avg $100-200 /mth), but I currently have a $1200 BT balance (UTI 20% of $6k) so no other spend on it until BT is paid off

Overall UTI% = 6% (CLI approval dropped it to 5%)

Re: Interesting Letter regarding my BoA CLI approval

eddygee — Fri, 05 Nov 2021 01:23:12 GMT

@Taurus22 wrote:
So after receiving the BoA CLI this past week, I received a letter with some interesting verbage. This was my first CLI with BoA, so also my first letter like this from them. It was interesting that although BoA pulled EX for me when I applied for the card, they SP'ed TU for the CLI request, and that my TU score was actually higher than I see reported.

The weird part, is in the 3rd image "FCRA notice" .....it's worded as if there may have been reason for TU to take adverse action, but did not do so. Is this just standard "cut and paste" verbage included with all CLI notices, whether approved or not?.......or what?

So I was wondering how much of a increase did you request I was wondering if I should also do my intial CLI I have had the my Alaska Airline BoA since 9/1 and already have the love button showing. I just want to make sure it is in fact still a (SP)soft pull and not a (HP)Hard Pull. I've attached the verbiage I have on my account did yours look similar? I often hear to pay attention to the verbiage. Hopefully it's still a SP.

Re: Interesting Letter regarding my BoA CLI approval

FinStar — Fri, 05 Nov 2021 01:26:50 GMT

@eddygee wrote:
So I was wondering how much of a increase did you request I was wondering if I should also do my intial CLI I have had the my Alaska Airline BoA since 9/1 and already have the love button showing. I just want to make sure it is in fact still a (SP)soft pull and not a (HP)Hard Pull. I've attached the verbiage I have on my account did yours look similar? I often hear to pay attention to the verbiage. Hopefully it's still a SP.

Any customer-initiated CLI requests are SP. The language is there as part of regulatory compliance since BoA used to HP for any CLIs. I would aim for the moon and hope for the best. So, regardless if approved or declined, it'll still be SP @eddygee.

Re: Interesting Letter regarding my BoA CLI approval

eddygee — Fri, 05 Nov 2021 01:40:46 GMT

@FinStar wrote:
@eddygee wrote:
So I was wondering how much of a increase did you request I was wondering if I should also do my intial CLI I have had the my Alaska Airline BoA since 9/1 and already have the love button showing. I just want to make sure it is in fact still a (SP)soft pull and not a (HP)Hard Pull. I've attached the verbiage I have on my account did yours look similar? I often hear to pay attention to the verbiage. Hopefully it's still a SP.
Any customer-initiated CLI requests are SP. The language is there as part of regulatory compliance since BoA used to HP for any CLIs. I would aim for the moon and hope for the best. So, regardless if approved or declined, it'll still be SP @eddygee.

Thanks for the info! I was shocked the luv button was there already its been there for the past week or so before I even hit the 60 day mark. I'll probable ask for 15k CLI. I wonder what their max limit is to income or before the request the tax form for proof of income?

Re: Interesting Letter regarding my BoA CLI approval

FinStar — Fri, 05 Nov 2021 02:18:08 GMT

@eddygee wrote:
@FinStar wrote:
@eddygee wrote:
So I was wondering how much of a increase did you request I was wondering if I should also do my intial CLI I have had the my Alaska Airline BoA since 9/1 and already have the love button showing. I just want to make sure it is in fact still a (SP)soft pull and not a (HP)Hard Pull. I've attached the verbiage I have on my account did yours look similar? I often hear to pay attention to the verbiage. Hopefully it's still a SP.
Any customer-initiated CLI requests are SP. The language is there as part of regulatory compliance since BoA used to HP for any CLIs. I would aim for the moon and hope for the best. So, regardless if approved or declined, it'll still be SP @eddygee.
Thanks for the info! I was shocked the luv button was there already its been there for the past week or so before I even hit the 60 day mark. I'll probable ask for 15k CLI. I wonder what their max limit is to income or before the request the tax form for proof of income?

Request whatever is a comfortable limit for your needs. BoA will counter, if anything. They will inform you if the limit you request is unable to be processed or approved based on your reported income and/or other factors. So, while there may be some general DPs floating around about a potential CL to income ratio, it's all profile-dependent.

Re: Interesting Letter regarding my BoA CLI approval

eddygee — Fri, 05 Nov 2021 02:32:44 GMT

@FinStar wrote:
@eddygee wrote:
@FinStar wrote:
@eddygee wrote:
So I was wondering how much of a increase did you request I was wondering if I should also do my intial CLI I have had the my Alaska Airline BoA since 9/1 and already have the love button showing. I just want to make sure it is in fact still a (SP)soft pull and not a (HP)Hard Pull. I've attached the verbiage I have on my account did yours look similar? I often hear to pay attention to the verbiage. Hopefully it's still a SP.
Any customer-initiated CLI requests are SP. The language is there as part of regulatory compliance since BoA used to HP for any CLIs. I would aim for the moon and hope for the best. So, regardless if approved or declined, it'll still be SP @eddygee.
Thanks for the info! I was shocked the luv button was there already its been there for the past week or so before I even hit the 60 day mark. I'll probable ask for 15k CLI. I wonder what their max limit is to income or before the request the tax form for proof of income?
Request whatever is a comfortable limit for your needs. BoA will counter, if anything. They will inform you if the limit you request is unable to be processed or approved based on your reported income and/or other factors. So, while there may be some general DPs floating around about a potential CL to income ratio, it's all profile-dependent.

You're a big help one last thing I asked in my prior message does BoA request a 4506T form or anything after a certain limit?