topic Re: BOA Secured Card CLI? in Credit Cards

BOA Secured Card CLI?

Wavester64 — Thu, 08 Oct 2020 22:10:33 GMT

Last month was 5-months and I tried to get my BOA Secured card graduated and it was denied for being open for "less" than 5-months (which it was right at 5-months, but OK )

I plan on waiting until 6 or 7 months passing before trying again.

Lately I have noticed there is a "Luv button" for CLI request on my account - I never even thought they offered that for a secured card.

Has anyone tried that for a BOA or any lender's Secured card?

I am *guessing* since CLI requests for BOA's unsecured cards are SP, hopefully the same holds true for their secured card.

I was thinking of giving it a whirl as long as there's no HP verbiage, but I wanted to check with my MF family first and get some thoughts

Re: BOA Secured Card CLI?

AzCreditGuy — Thu, 08 Oct 2020 23:08:25 GMT

When I did my credit spree on June 2019, I tried B of A and wasn’t sure as I had burned them in the past. Sure, enough I was denied, but I received a letter in the mail that I could get a Secured card with a $99 deposit. At first, I didn’t want it and then said, what the hell I took an INQ. I am so glad I took the card, within 6 months my $300 SL went to $1,500 automatically. After 7 months, I called to see if I could graduate to unsecured and was approved and deposit of $99 was released to my bank account. At 8 months hit the CLI button an approved for $3,300 CL. I just tried the CLI button again at 1 year 1 month recently and now at $6k CL. And yes they are SP for the CLI increase as I called and verified.

PS you have to use the card and use it well ....I did the 1 month heavy spend but paid it back on the next statement and than small purchases, I think it also helps if you have a banking realtionship with them.

Re: BOA Secured Card CLI?

Anonymous — Thu, 08 Oct 2020 23:24:20 GMT

I just called in today to see if I had any options and they approved my 1k secured card for 3k unsecured after I just got the secured card in june. It was a soft pull. They have to do a 48 hr review on mine but I'm glad I called. Im wondering if I will have my pick of other cards when it goes through.

Re: BOA Secured Card CLI?

Wavester64 — Fri, 09 Oct 2020 13:31:28 GMT

This sounds like HP language, so I opted not to try for CLI - agreed?

Request a credit line increase

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.

You also understand that if you have existing credit card accounts with Bank of America, we may utilize the available credit on the existing account(s) to approve your new credit request which could include moving credit from an account with a lower annual percentage rate and/or fee structure to a higher annual rate and/or fee structure without increasing your overall credit limit.

Bank of America, like all financial institutions, is required by Federal law to obtain, verify and record information that identifies each customer making a credit request. When requesting a credit line increase from us we will ask you for your name, address and other information to confirm your identity.

Re: BOA Secured Card CLI?

coldfusion — Fri, 09 Oct 2020 14:09:10 GMT

BoA includes that as boilerplate language for unsecured CC even though as a matter of practice they only perform soft pulls, or more accurately put I've never seen anyone reporting a HP on a BoA CLI request in over 2 years.

I don't recall any DP for a secured card however.

Re: BOA Secured Card CLI?

Gmood1 — Fri, 09 Oct 2020 14:40:38 GMT

@Wavester64

I have no experience with the BOA secured CC. As previously stated, the request for CLI's have been SPs for quite some time now.

No guarantee, but I'd wager it's a SP.

Re: BOA Secured Card CLI?

Wavester64 — Fri, 09 Oct 2020 15:06:02 GMT

@Gmood1 wrote:
@Wavester64
I have no experience with the BOA secured CC. As previously stated, the request for CLI's have been SPs for quite some time now.
No guarantee, but I'd wager it's a SP.

Thanks @Gmood1 and @coldfusion . I could use the space on that one and I want to take the plunge and feel it should be a SP, but I also asked a BOA CSR on Twitter since posting this and they said, I quote "These types of requests are hard inquiries"

Oh well. I can't afford any HPs right now so I cant risk it. I am thinking that Twitter BOA CSR is wrong because when I called in last month to ask about SC graduation, the nice lady asked if I wanted a CLI as well if graduated and I said yes and asked if anything would be a HP she said no, all SPs. So BOA's people give mixed answers.

Re: BOA Secured Card CLI?

Wavester64 — Fri, 09 Oct 2020 22:45:53 GMT

@AzCreditGuy wrote:
When I did my credit spree on June 2019, I tried B of A and wasn’t sure as I had burned them in the past. Sure, enough I was denied, but I received a letter in the mail that I could get a Secured card with a $99 deposit. At first, I didn’t want it and then said, what the hell I took an INQ. I am so glad I took the card, within 6 months my $300 SL went to $1,500 automatically. After 7 months, I called to see if I could graduate to unsecured and was approved and deposit of $99 was released to my bank account. At 8 months hit the CLI button an approved for $3,300 CL. I just tried the CLI button again at 1 year 1 month recently and now at $6k CL. And yes they are SP for the CLI increase as I called and verified.

PS you have to use the card and use it well ....I did the 1 month heavy spend but paid it back on the next statement and than small purchases, I think it also helps if you have a banking realtionship with them.

Maybe I should wait and go your route then. 6-months is 2 weeks away for me. And since they declined my graduation request last month, I'll wait and see what happens then, rather then try for a CLI now. I do use the card and I do have a banking relationship with them, so lets hope that comes into play. Thanks for the reply!

Re: BOA Secured Card CLI?

Wavester64 — Sat, 10 Oct 2020 03:01:00 GMT

@Wavester64 wrote:
@AzCreditGuy wrote:
When I did my credit spree on June 2019, I tried B of A and wasn’t sure as I had burned them in the past. Sure, enough I was denied, but I received a letter in the mail that I could get a Secured card with a $99 deposit. At first, I didn’t want it and then said, what the hell I took an INQ. I am so glad I took the card, within 6 months my $300 SL went to $1,500 automatically. After 7 months, I called to see if I could graduate to unsecured and was approved and deposit of $99 was released to my bank account. At 8 months hit the CLI button an approved for $3,300 CL. I just tried the CLI button again at 1 year 1 month recently and now at $6k CL. And yes they are SP for the CLI increase as I called and verified.

PS you have to use the card and use it well ....I did the 1 month heavy spend but paid it back on the next statement and than small purchases, I think it also helps if you have a banking realtionship with them.
Maybe I should wait and go your route then. 6-months is 2 weeks away for me. And since they declined my graduation request last month, I'll wait and see what happens then, rather then try for a CLI now. I do use the card and I do have a banking relationship with them, so lets hope that comes into play. Thanks for the reply!

Another update. Went to Twitter to read about my beloved Yankees getting eliminated tonight and I see I have another direct message from BOA. It said the following and I quote "I apologize, a credit line increase request is considered a soft inquiry and will not impact your credit score."

Re: BOA Secured Card CLI?

Wavester64 — Sat, 10 Oct 2020 13:10:36 GMT

@Wavester64 wrote:
@Wavester64 wrote:
@AzCreditGuy wrote:
When I did my credit spree on June 2019, I tried B of A and wasn’t sure as I had burned them in the past. Sure, enough I was denied, but I received a letter in the mail that I could get a Secured card with a $99 deposit. At first, I didn’t want it and then said, what the hell I took an INQ. I am so glad I took the card, within 6 months my $300 SL went to $1,500 automatically. After 7 months, I called to see if I could graduate to unsecured and was approved and deposit of $99 was released to my bank account. At 8 months hit the CLI button an approved for $3,300 CL. I just tried the CLI button again at 1 year 1 month recently and now at $6k CL. And yes they are SP for the CLI increase as I called and verified.

PS you have to use the card and use it well ....I did the 1 month heavy spend but paid it back on the next statement and than small purchases, I think it also helps if you have a banking realtionship with them.
Maybe I should wait and go your route then. 6-months is 2 weeks away for me. And since they declined my graduation request last month, I'll wait and see what happens then, rather then try for a CLI now. I do use the card and I do have a banking relationship with them, so lets hope that comes into play. Thanks for the reply!
Another update. Went to Twitter to read about my beloved Yankees getting eliminated tonight and I see I have another direct message from BOA. It said the following and I quote "I apologize, a credit line increase request is considered a soft inquiry and will not impact your credit score."

So with this new SP update, I decided to go for it this morning. I asked for my $500 SL be raised to $1500, I figured that would do nicely until its *eventually* graduated, but I got this (which to me sounds like DECLINED, but you tell me):

Thank you for submitting your request.

Your business is appreciated. Careful consideration is being given to your request for a credit line increase. We need to review a few more things and if we have any questions, we will call you. This review of your request typically takes 7-10 business days. However it could take up to 30 days, after which we will mail you a written response.Thank you for confirming your primary residence address. We'll make any necessary updates to this address if your credit line increase request is approved. Your mailing address for your statements and credit card communications will remain unchanged.

Can't say I am surprised, BOA for some reason finds it difficult to give me any kinda love. Oh well.

Re: BOA Secured Card CLI?

newmomnewme — Sat, 10 Oct 2020 19:49:17 GMT

@Wavester64 I feel your pain I literally still feel the sting from the game last night. I just wish they had won game 3 instead! Chapman... I don't want to watch anymore baseball. 😞

As for BoA, I am sending you ALL the good vibes!!! I may have been denied for an unsecured BoA card last weekend (all the denials are blurred together at the moment) maybe they will offer the secured version, I'd definitely go for that.

You got this!!!

Re: BOA Secured Card CLI?

coldfusion — Sat, 10 Oct 2020 22:48:20 GMT

@Wavester64 wrote:
So with this new SP update, I decided to go for it this morning. I asked for my $500 SL be raised to $1500, I figured that would do nicely until its *eventually* graduated, but I got this (which to me sounds like DECLINED, but you tell me):

Thank you for submitting your request.
Your business is appreciated. Careful consideration is being given to your request for a credit line increase. We need to review a few more things and if we have any questions, we will call you. This review of your request typically takes 7-10 business days. However it could take up to 30 days, after which we will mail you a written response.Thank you for confirming your primary residence address. We'll make any necessary updates to this address if your credit line increase request is approved. Your mailing address for your statements and credit card communications will remain unchanged.

Can't say I am surprised, BOA for some reason finds it difficult to give me any kinda love. Oh well.

That's not a decline. It's a "we need a human to take 2 minutes to eyeball this and make a decision during weekday business hours".

The potential for a widely varying timeline is accurate, a review could be completed by Tuesday afernoon or it really could take them close to 30 days.

Re: BOA Secured Card CLI?

Wavester64 — Sun, 11 Oct 2020 13:33:22 GMT

@newmomnewme wrote:
@Wavester64 I feel your pain I literally still feel the sting from the game last night. I just wish they had won game 3 instead! Chapman... I don't want to watch anymore baseball. 😞

As for BoA, I am sending you ALL the good vibes!!! I may have been denied for an unsecured BoA card last weekend (all the denials are blurred together at the moment) maybe they will offer the secured version, I'd definitely go for that.

You got this!!!

Thanks @newmomnewme

Re: BOA Secured Card CLI?

Wavester64 — Sun, 11 Oct 2020 13:40:07 GMT

@coldfusion wrote:
@Wavester64 wrote:
So with this new SP update, I decided to go for it this morning. I asked for my $500 SL be raised to $1500, I figured that would do nicely until its *eventually* graduated, but I got this (which to me sounds like DECLINED, but you tell me):

Thank you for submitting your request.
Your business is appreciated. Careful consideration is being given to your request for a credit line increase. We need to review a few more things and if we have any questions, we will call you. This review of your request typically takes 7-10 business days. However it could take up to 30 days, after which we will mail you a written response.Thank you for confirming your primary residence address. We'll make any necessary updates to this address if your credit line increase request is approved. Your mailing address for your statements and credit card communications will remain unchanged.

Can't say I am surprised, BOA for some reason finds it difficult to give me any kinda love. Oh well.
That's not a decline. It's a "we need a human to take 2 minutes to eyeball this and make a decision during weekday business hours".

The potential for a widely varying timeline is accurate, a review could be completed by Tuesday afernoon or it really could take them close to 30 days.

From your keyboard to God's screen

Here' hoping you are right (which you almost always are) 👍

Re: BOA Secured Card CLI?

Nelsoul — Sat, 12 Dec 2020 17:58:17 GMT

I looked everywhere on the app and the site and cant find CLI. Got mine in July and my next closing date is December 19 , (6 months )I'll try to see if I can graduate then.