topic Re: Bank of America CLI tips in Credit Cards

Bank of America CLI tips

John95 — Sun, 10 Nov 2019 05:26:19 GMT

Hi!
I have been my Bank of America Cash Rewards visa card for over 2 years and i always pay in full on time.
My current limit is $11k and i want to increase it to $25k.
It’s been around 7 months since I requested a CLI.Now everytime I request a CLI they say my current limit is enough based on my balance.
What should I do now to get the CLI?
Fico Score 770
Income $76k

Re: Bank of America CLI tips

Anonymous — Sun, 10 Nov 2019 06:37:31 GMT

How much per month do you spend on the card on average? If it's not a significant amount of your $11k limit, they may feel your CL is sufficient for your spending.

If they raise your CL they have to allocate cash reserves equal to a percentage of that new limit to a reserve per the lending laws, and that's money they can't extend to other customers who may be spending far more and therefore have a greater need for higher limits.

if you're running $8-9k through the card each month, then your odds of an increase would probably be really good. If you only use a small portion, then raising it isn't really necessary as you aren't even approaching the limit you already have.

Re: Bank of America CLI tips

coldfusion — Sun, 10 Nov 2019 08:27:54 GMT

a) put significant spend on the card monthly, or

b) deposit enough assets in either a BoA or Merrill account to qualify as a Preferred Rewards client.