topic BofA cash rewards cli in Credit Cards

BofA cash rewards cli

Anonymous — Fri, 25 May 2018 18:19:59 GMT

Sometime last month I requested a CLI for BofA and was denied due to my account not being six months old and I was told to apply after July 2nd.
I’ve spent over 20k within my last five statements and made payments of about $21,000. I know with my high spending i should be due a cl of at least 15k.

The concern is i just became a member of NFCU 😁 and was approved for this cash rewards card which is 1.5% back on EVERYTHING. A better reward structure than my BofA card. I was approved for a $700 limit which i was successful in reconning to $19k after sending them a secured message regarding why my credit reports show a thirty day late (12 months ago) and why my BofA card is currently maxed (i never care about my balance when my statement closes since its no interest (promo) and i make large payments every other day. I sent my credit card statements along with my secured message.

NOW HERE’S THE QUESTION

Do you think BofA would still give me an large increase if i don’t make ANY purchases for my last statement leading up to my ask for a cli? I much rather use my NFCU card and grow even more with them.

Re: BofA cash rewards cli

FinStar — Fri, 25 May 2018 18:38:12 GMT

You can submit a request after the account is 6+ months in age, but since we're not the BoA UW team we can't say for sure what (if any) CLI you'd receive.

Not using the CC for a couple months is not going to hinder your chances since it's pretty clear they have a record of your spending and payment patterns.

You can definitely give it a try and see what outcome that yields. Currently, BoA CLI requests are SP, so hopefully that trend continues.

Re: BofA cash rewards cli

pipeguy — Fri, 25 May 2018 18:39:21 GMT

I seriously doubt that one credit cycle will affect anything as far as how any lender views your account - assuming that you don't continue to post a maxed out card or miss any payments.

Re: BofA cash rewards cli

K-in-Boston — Fri, 25 May 2018 19:39:59 GMT

Absolutely no need for concern if you stop using the card for new purchases. Hover over the BoA cards in my signature - the two really big ones haven't seen a swipe in over a decade and those lines have grown just in the past few years. That was one heck of a recon with NFCU, by the way. Nice job! I haven't heard of a BoA CLI being denied solely due to being under 6 months old. I've received them as recently as the past 18 months as early as 3-4 months after opening. The request you made last month... any chance you made it at the very end of the month (past 30 days)? If so, I'd call ASAP to speak with a senior analyst. It actually could be more the late showing on your report.