topic Re: BOA CLI??? in Credit Cards

BOA CLI???

shaybe — Sun, 30 Nov 2008 20:55:40 GMT

I checked my BOA account today and saw that they have raised my CL from $1500 to $2000. I am completely shocked because I really don't deserve it at all! I'm at over 50% util right now due to auto repairs and other unexpected expenses. My credit score is just about the lowest it has ever been! (626 today on Experitan.) I do try to baby my BOA card a little compared to the others, but I have still averaged a $500 balance for the past few months. I just make sure to put my largest payments towards that card.

Would BOA give me an auto CLI because I have had such heavy usage lately, or what? Not that I'm complaining!

Re: BOA CLI???

jmbfl — Sun, 30 Nov 2008 21:01:03 GMT

They want your holiday business and they felt like it. How old is your account?

Re: BOA CLI???

Anonymous — Sun, 30 Nov 2008 21:06:33 GMT

"Give 'em enough rope and watch 'em hang themselves with it"

With your heavy usage, BofA may have seen an opportunity to make money off you. The higher your balance, the more money BofA is collecting in interest. No matter the reason for your CLI, don't fall into the trap. Ignore the CLI and continue making large payments toward that balance. The CLI helps to lower your utilization from 33% to 25% and this can only help your FICO score. So, look at your CLI as a blessing in disguise.

Re: BOA CLI???

shaybe — Sun, 30 Nov 2008 22:49:44 GMT

My account is just under 2 years old. I started with a CL of $500. I have never asked for a CLI, but have gotten them somewhat regularly. My credit scores have usually been low to mid 600's with a 5-6 month period of high 600's.

Re: BOA CLI???

Anonymous — Mon, 01 Dec 2008 14:25:38 GMT

BofA is a generous lender. I have 2 CC with them and I am awarded CLI on an annual basis. My initial CL was $2500 limit. After the 1st year, I got an automatic increase to $5000. The 2nd year, I got another automatic increase to $10,500. I'm looking forward to my next CLI.