topic BofA didn’t warn of HP for CLI in Credit Cards

BofA didn’t warn of HP for CLI

marmaladepie — Tue, 03 Apr 2018 17:50:27 GMT

So yesterday I did CLI online. It only asked me to confirm income it didn’t mention any HP (only if I wanted more than what they gave offer). Went from 29,5k to 34k.
So after the auto approval, I closed the window that said if I wanted more to confirm so I ignored it.
Today got a TU alert that they indeed do a HP. Can I dispute? Had I known, I wouldn’t have requested.

Re: BofA didn’t warn of HP for CLI

Anonymous — Tue, 03 Apr 2018 18:10:41 GMT

You can ask, but I doubt they'll re-code as a SP. There are several available threads in this forum that give a good idea of which lenders are HP versus SP for CLI. Best way to know is to call and ask the lender. If I'm unsure, regardless of what it says on the website, I consider it'll be a HP. Sorry about the HP, but it'll only be a very small, temporary ding. Congrats on the CLI though!

Re: BofA didn’t warn of HP for CLI

AverageJoesCredit — Tue, 03 Apr 2018 18:36:09 GMT

5k seems like a good increase to me for a hp but thats relative. Im suprised someone with your credit limit with Boa isnt familiar with how their cli process works. Normally the only sp increases they give is if they invite you to an increase otherwise, usually hp.

Re: BofA didn’t warn of HP for CLI

Anonymous — Tue, 03 Apr 2018 18:41:50 GMT

When I click the CLI button I see some paragraphs above the form that is filled out. The first 2 paragraphs read:

"To request an increased line of credit, complete the form and click "Submit" button.

By clicking the "Submit" button, you authorize us to obtain a copy of your credit report and review your credit and employment histories and any other information that allows us to process your request, service your account and manage our relationship with you. Upon request, we will inform you of the name and address of any consumer reporting agency that provided reports to us."

I bolded the section that shows that requesting a CLI authorizes them to pull your credit.

It's pretty common knowledge that BoA HPs for CLI requests, unless you get an offer for one, in which case it's SP.

Re: BofA didn’t warn of HP for CLI

fltireguy — Tue, 03 Apr 2018 20:06:27 GMT

When you open the account, you gave them permission to run a HP at any time for any reason. You can't dispute it, you have already authorized it previously.

And it 5K, it really wasn't a waste of an HP either.

Re: BofA didn’t warn of HP for CLI

Anonymous — Tue, 03 Apr 2018 20:09:18 GMT

It is known

Re: BofA didn’t warn of HP for CLI

marmaladepie — Tue, 03 Apr 2018 20:56:26 GMT

I understand now. It had been an account that was very active years ago. I'm more of an Amex and Chase user now so I wasn't fully aware of BofA's rules. Thanks all for clarifying.
Bonus - Fico jumped from 797 to 805.