topic Re: BoA soft pull cli invitation in Credit Cards

BoA soft pull cli invitation

Anonymous — Wed, 14 Jun 2017 23:55:30 GMT

So, I'm highly leaning toward not accepting this offer, what do you think, given these circumstances?

The offer is for 1 of 3 cards.

current total available credit about 3x yearly income

about 20% of that is BoA (across 3 cards)

total CL across the 3 cards is about 54% of yearly income

I do not want any credit limits moved between the cards.

total utilization 21%

BoA utilization (total across 3 cards) 44%

Re: BoA soft pull cli invitation

Anonymous — Thu, 15 Jun 2017 03:49:21 GMT

Too be honest if it's a SP I would probably take it cause it's rare with BOA. But in your case, if you don't need or want a possible reallocation to come in, skip it if you don't need it.

Re: BoA soft pull cli invitation

LuckyBird — Thu, 15 Jun 2017 04:07:30 GMT

That sounds weird to me, honestly. Why send you an "invite?" If it's a soft pull, why not just soft you & give you an auto-increase like many other issuers do? Or is the point of that, that they're letting you choose which one to increase?

And if it may possibly necessitate reallocation of limits, why would they bother to make the offer (if not increasing total credit line)?

Re: BoA soft pull cli invitation

Cashbackjunky — Thu, 15 Jun 2017 05:12:56 GMT

I would take the offer, if I was in your shoes.

BofA never does soft CLI's.

It's up to you tho. Keep us informed.

Cheers!

Re: BoA soft pull cli invitation

Anonymous — Thu, 15 Jun 2017 05:19:12 GMT

It's not a choice of which card, the offer is for a specific one.

My first thought was - if they wanted me to have a cli on that card, why didn't they just do an auto increase?

Yeah, I can only speculate. But it doesn't really give me a good feeling.

Re: BoA soft pull cli invitation

Anonymous — Thu, 15 Jun 2017 05:33:14 GMT

For a BOA soft pull I would take. Also have back up non BOA cards handy.

Re: BoA soft pull cli invitation

Anonymous — Thu, 15 Jun 2017 05:49:27 GMT

@Anonymous wrote:
For a BOA soft pull I would take. Also have back up non BOA cards handy.

hmm, Have you been reading my mind? I was just thinking...if I did this and it went wrong somehow ( it wouldn;t be the first time), would I have backup

Could you elaborate on what you meant by "Also have back up non BOA cards handy." ?

Re: BoA soft pull cli invitation

Anonymous — Thu, 15 Jun 2017 06:11:58 GMT

I never want to depend on any one card company. They merge, sell a line, close out a line or go out business, decide they don't like you and want to reduce your cl. You have other places to go. For example at the Backwoods we use the following regularly: Amex BCP, Capital 1 QS, Disco, (new one) Home Depot, Citi DC, for our Biz Cap 1 Spark soon to be place by either Chase Ink or Amex Simply cash. No one card co accounts for than 25% of our limits. If some thing happens we can bt to another card if we have a balance. We usually don't carry a balance however. Right now we are repairing storm damage and for the first time in years are carrying balances for another 30 or so days. DW also has about 6 or 7 cards that she only get used once every 6 months so they won't cancel out.

Re: BoA soft pull cli invitation

AverageJoesCredit — Thu, 15 Jun 2017 18:20:48 GMT

Take it

Re: BoA soft pull cli invitation

BPebbles — Thu, 15 Jun 2017 21:23:03 GMT

I agree with AJC and the others. Soft Pull CLIs are rather rare.

Re: BoA soft pull cli invitation

Anonymous — Thu, 15 Jun 2017 22:11:14 GMT

@Anonymous wrote:
My first thought was - if they wanted me to have a cli on that card, why didn't they just do an auto increase?

You have to "update" your employment and income.

I recently had one of these soft pull "invites"

I had to confirm I was employed and they wanted my income.