topic Re: BofA in Credit Cards

BofA

eaglesilas — Tue, 15 Aug 2017 02:37:32 GMT

had a HP on my BofA card for CL ,can I us the same HP to apply for a other BofA card or will that a new HP.

My CL was denied because to much inq on my TU.

Re: BofA

Anonymous — Tue, 15 Aug 2017 02:57:09 GMT

@eaglesilas wrote:
had a HP on my BofA card for CL ,can I us the same HP to apply for a other BofA card or will that a new HP.
My CL was denied because to much inq on my TU.

If they turned you down for a credit limit increase for too many inquiries why do you think they would approve you for another card?

Re: BofA

AverageJoesCredit — Tue, 15 Aug 2017 03:09:15 GMT

Good point froggie

Though it is a possibilty to use a hp from a cli request to grab another, if you got denied the cli, could be you are at their nternal limit right now. Happened to me, looks like im a 1 card only from Boa due to my income but its ok, ive got other eggs in my basket

Re: BofA

K-in-Boston — Tue, 15 Aug 2017 03:28:30 GMT

Because I have seen triple-digits here before, I have to ask... how many is "too many" inquiries on TU? As AboveAverageJoe said, you may just be at your internal limit and they just needed to give you any reason to decline you. What's your current line of credit? And following up on frogman1's reply, are there other reasons why they may have declined you in addition to the INQs? If so, an additional approval may be unfounded.

Re: BofA

eaglesilas — Tue, 15 Aug 2017 03:38:35 GMT

14 inq at TU ,10000,- CL on card , total crl 122000.- income 85.000 Fico 8 739

Re: BofA

K-in-Boston — Tue, 15 Aug 2017 03:41:58 GMT

Wonderful data points; that helps a ton! Sounds like you may have just hit your internal limit with BOA for the time being. Every profile is different of course, but generally they're not scared off by inquiries. How long have you had the card and when was your last increase, if any?

Re: BofA

medicgrrl — Tue, 15 Aug 2017 04:04:03 GMT

I'm not familiar with BOA's policies, but I think it's a valid question. I've seen plenty of people get denied a CLI from lenders only to be approved a second card. Heck, Amex just approved a third card for me but won't give me a CLI. Penfed and NFCU have done the same for other's.

Re: BofA

K-in-Boston — Tue, 15 Aug 2017 04:07:49 GMT

Valid question and valid medicgrrl answer; Chase turned me down for a CLI on Freedom then minutes later approved me for a CSP with more than 3x the limit. I don't recall hearing of BOA doing that (with them it's usually a case of reallocating credit lines automatically), but I am sure there are probably numerous examples on this very forum.

Re: BofA

eaglesilas — Tue, 15 Aug 2017 04:14:30 GMT

got the card in July 16 with 5000.- and than a CLI to 10000 in Jan 17

Re: BofA

eaglesilas — Thu, 17 Aug 2017 20:27:00 GMT

denied CLI for my reward card but approved me for Bank Americard with 10.000 cl

Re: BofA

Anonymous — Sat, 19 Aug 2017 13:01:07 GMT

@Anonymous wrote:
@eaglesilas wrote:
had a HP on my BofA card for CL ,can I us the same HP to apply for a other BofA card or will that a new HP.
My CL was denied because to much inq on my TU.
If they turned you down for a credit limit increase for too many inquiries why do you think they would approve you for another card?

Well, last fall, I was on a spree, and decided I would take a hit (Inq) and try for a CLI on my oldest card, the BOA 123. I have had the card for 16yrs, never been late and had moderate usage. had a $6,600 limit. Hit the LUV button and got denied. at this point my scores were all above 780, and I have maybe 5% util on all my cards, and 60days prior had been approved for the CSP for a limit more than 4x of the BOA. Called the recon and was told they could offer me a $1100 increase to 7700. so I took it, to not waste the INQ. He said that my card usage was too low to support a higher limit.

The rep did tell me that I was pre-approved for a new card product and he saw that it would likely get a $20k starting limit. I did not go for the new card since I didnt want another NEW account on my file then. I use card minimally to keep it active since its one of my oldest accounts, but otherwise I have little use for BOA's credit card products.

Its a long answer, but BOA is weird, and that is why the OP could have gotten a new card even though he was denied for a CLI.

Re: BofA

Anonymous — Sat, 19 Aug 2017 19:57:19 GMT

BofA turned me down flat for too many inquiries (7). Called recon line and was still denied but the rep informed me that it was too many inquiries in a short time (6 in two months) and stated BofA was looking forward to having me as a customer in a year or so. I took the subtle hint and will try again later. Hope this helps.