topic Re: BoA CLI in Credit Cards

BoA CLI

tengtengvn — Tue, 11 May 2010 20:36:00 GMT

It has been a year since BoA increased my credit limit. I called the number on the back of the card last Sunday and didn’t get approved. But BoA rep gave me a number to another department to review my request again.

So when I called this morning, the rep that I spoke to said she saw my CLI request last week and asked me the reason for CLI. I went from $2k to $5k. WOOT.

Re: BoA CLI

bakalao2k — Wed, 12 May 2010 06:11:17 GMT

That's a very nice increase. I'm too afraid to poke the BoA beast.

Re: BoA CLI

Anonymous — Wed, 12 May 2010 15:31:07 GMT

I got an increase some months ago and they even lowered my apr from 14% to 9.99%.

Re: BoA CLI

Anonymous — Thu, 13 May 2010 15:54:06 GMT

The last time i called for an increase... i was denied.. The person i spoke on the phone with told me that as long as i had collections on my reports i would never get an increase.. but the collections were there when i got the card. I have the BOA World Points. Should i try again? it has been a year?

Re: BoA CLI

Anonymous — Thu, 13 May 2010 16:14:59 GMT

@Anonymous wrote:
The last time i called for an increase... i was denied.. The person i spoke on the phone with told me that as long as i had collections on my reports i would never get an increase.. but the collections were there when i got the card. I have the BOA World Points. Should i try again? it has been a year?

Yes that is true.

Re: BoA CLI

Anonymous — Thu, 13 May 2010 17:19:20 GMT

I wonder how many people have received CLI with a collection on their account... This is crappy... but it is my highest limit (1000) and has the longest history. Darn it.

Re: BoA CLI

Anonymous — Thu, 13 May 2010 19:02:00 GMT

@Anonymous wrote:
The last time i called for an increase... i was denied.. The person i spoke on the phone with told me that as long as i had collections on my reports i would never get an increase.. but the collections were there when i got the card. I have the BOA World Points. Should i try again? it has been a year?

BofA was the first "major" credit card i received when I started rebuilding. I was originally declined, but spoke to an account analyst and was approved for the Accelrated AMEX with $1000. I appreciate them extending me credit, however am confused by that policy. if I had a collection when they extended me credit, why does it present a problem when I want a CLI? If collections are issue for them, why would they even extend credit to someone with collection activiity on their report?

Re: BoA CLI

Anonymous — Thu, 13 May 2010 19:02:42 GMT

@Anonymous wrote:
I wonder how many people have received CLI with a collection on their account... This is crappy... but it is my highest limit (1000) and has the longest history. Darn it.

Not sure but i requested a CLI earlier this year was denied cause i had a paid collection on my CR. Funny thing the collection was removed form my CR the next month so i tried again an they gave me a $1200 CLI.

Re: BoA CLI

Anonymous — Thu, 13 May 2010 19:04:42 GMT

PurpleHaze wrote
BofA was the first "major" credit card i received when I started rebuilding. I was originally declined, but spoke to an account analyst and was approved for the Accelrated AMEX with $1000. I appreciate them extending me credit, however am confused by that policy. if I had a collection when they extended me credit, why does it present a problem when I want a CLI? If collections are issue for them, why would they even extend credit to someone with collection activiity on their report?

I feel the same way but i think they look it at as a risk.

Re: BoA CLI

Anonymous — Thu, 13 May 2010 19:09:13 GMT

@Anonymous wrote:
PurpleHaze wrote
BofA was the first "major" credit card i received when I started rebuilding. I was originally declined, but spoke to an account analyst and was approved for the Accelrated AMEX with $1000. I appreciate them extending me credit, however am confused by that policy. if I had a collection when they extended me credit, why does it present a problem when I want a CLI? If collections are issue for them, why would they even extend credit to someone with collection activiity on their report?

I feel the same way but i think they look it at as a risk.

Oh I understand and completely agree that it poses a risk (In my situation I think i had an unpaid tax lien from 2003 and all other debts were paid current for 5 yrs or more). But if the viewpoint is that collections pose a risk, then why approve people with collections in the first place? That doesnt make sense to me.

Re: BoA CLI

nicemann — Fri, 14 May 2010 06:55:04 GMT

@Anonymous wrote:
I wonder how many people have received CLI with a collection on their account... This is crappy... but it is my highest limit (1000) and has the longest history. Darn it.

I went from a $350 parital-secured card back in 2004 to now $15,000 on the same card. That is with two collections on my account for medical and quite a few charge offs back when I first applied. The charge offs dropped off back in 2008 but I got serveral CLs while they were stil on. The medicals are still on my report for a couple more months.

Currently I have 5 CCs with them for a total of $25,000 in CL. The $15,000 BoA AmeriCard Visa was my highest till I recently got a $17,500 from PenFed.

BoA has always been really good with me. I haven't asked for a CLI in about a year because they told me 25k was the max CL for my salary at the time. I can transfer between cards but that was all I was able to do. Guess I could try again since it's been a year. BTW they were the first bank to approve me for a CC after my credit screw up back in 2001.

Re: BoA CLI

Anonymous — Fri, 14 May 2010 15:45:01 GMT

Thanks for the info nicemann.

Should I call or should I hit the cli button on my account? Maybe I should call. I want the increase for expenses. I will be finalizing an adoption next week and could use the extra cushion for travel expenses.

Thanks

gg-bc

Re: BoA CLI

Anonymous — Sat, 15 May 2010 01:51:43 GMT

@Anonymous wrote:
Thanks for the info nicemann.

Should I call or should I hit the cli button on my account? Maybe I should call. I want the increase for expenses. I will be finalizing an adoption next week and could use the extra cushion for travel expenses.

Thanks
gg-bc

gg-bc,

Congrats on the adoption! I hope you get the extra cushion and especially that everything goes perfectly for you!! Very exciting!

Re: BoA CLI

nicemann — Sat, 15 May 2010 15:53:14 GMT

@Anonymous wrote:
Thanks for the info nicemann.

Should I call or should I hit the cli button on my account? Maybe I should call. I want the increase for expenses. I will be finalizing an adoption next week and could use the extra cushion for travel expenses.

Thanks
gg-bc

I always got declined when I hit the CLI button, so I just called and asked for a recon and usually got it. Guess it's up to you. I perfer the over the phone now. They are usually willing to work with you.

Good luck!