topic Re: BofA Cash line in Credit Cards

BofA Cash line

Anonymous — Fri, 01 Jul 2011 17:30:42 GMT

I started out with the BoA secured card 3 yrs ago, and after faithfully paying all of my bills on time, along with a few CLI's Im now enjoying a 15k limit with ther worlds points card. I always PIF and never carry a balance, but I do run a lot of volume through them. So last month, i pushed the envelope and went for an increase of 5k. It was a soft pull, and they declined. It didnt bother me at all, hell, Ive gotten 3 CLI's in the last 9 months alone.

So .. today I log in and check my balance, and I see something new... CL is still 15k. Available credit is still 15K, but below that.. it says available cash line $4500,

My question is, does anyone know how or if , that available cash line will show on my credit report? I called BofA, but I was on hold too long, and couldnt wait.

Its odd, because its something Ive never seen before on my statements.

Thanks for any info..

Re: BofA Cash line

Anonymous — Fri, 01 Jul 2011 19:02:27 GMT

Same Here. I'm also confused with the new thing of cash on left side. Also how did you get 3 CLI in 9 months. I have BoA started as student card in Sep 2006 PIF every time carried balance come times but ma never late in my entire credit history of 6 years. at the end of 12 months i got my dep back of $300 and the card gotr converted to reg CC from sec card. I want to reach to 5 fig with BoA, how do i do that

Re: BofA Cash line

Anonymous — Fri, 01 Jul 2011 19:14:29 GMT

Perhaps I just got lucky. In fact, the firs time i tried to get an unsecured cardf rom them, I was denied, because I had been late once in the last 12 months (during that time)while it was secured. I remember the guy telling me, that I needed 12 consecutive months of no lates, so I achieved that..got my 1k back, and started with a $1500 cl.

It was after reading the forums and following the advice of some of the people here, that I went for my CLIs, nd eventually got them.

Its funny now looking back on it, so be patient, you will get there. Remeber, the journey of 1000 miles begins with the first step..(or something like that)

but yes, Im still confused about the cash thing.. maybe I will try calling again if no one answers.

Re: BofA Cash line

Datx — Fri, 01 Jul 2011 19:20:03 GMT

Its actually been reported in another credit forum that I joined as well. Lots of BOA credit card holders have reported that the Cash advance limit has been slahsed down to about 30% of the CL. Don't worry, you are not alone or did nothing yourself to trigger it.

Re: BofA Cash line

scottwagnon — Fri, 01 Jul 2011 19:23:55 GMT

bank of america must love me then, because my visa signature cash limit shows 5k which is my current revolving purchase limit.

Re: BofA Cash line

ficonightmare — Fri, 01 Jul 2011 23:36:01 GMT

@Anonymous wrote:
I started out with the BoA secured card 3 yrs ago, and after faithfully paying all of my bills on time, along with a few CLI's Im now enjoying a 15k limit with ther worlds points card. I always PIF and never carry a balance, but I do run a lot of volume through them. So last month, i pushed the envelope and went for an increase of 5k. It was a soft pull, and they declined. It didnt bother me at all, hell, Ive gotten 3 CLI's in the last 9 months alone.

So .. today I log in and check my balance, and I see something new... CL is still 15k. Available credit is still 15K, but below that.. it says available cash line $4500,

My question is, does anyone know how or if , that available cash line will show on my credit report? I called BofA, but I was on hold too long, and couldnt wait.

Its odd, because its something Ive never seen before on my statements.

Thanks for any info..

It won't as far as I know. Your total credit line is what's reported.

I have the BOA Amex Cash. Got the card 6 months ago. My CL is 7,500. cash advance was always 2,200. Nothing's changed.

Re: BofA Cash line

scottwagnon — Sat, 27 Aug 2011 03:56:58 GMT

i need to update. i just received a letter from bank of america stating that on oct. 4th, they will cut my cash line to 30% of my purchase credit line. so this confirms i was WRONG about them lovin me.. They will do the same with everyone that has a credit card with them. i suspect they can't or wont do it to new cardmembers; only after six months will they do this.

Re: BofA Cash line

Red1Blue — Sat, 27 Aug 2011 06:32:20 GMT

My card also has the cash limit on my card. It does not report on the credit report. Only total credit limit reports on the credit report.

Re: BofA Cash line

flyingmd — Sat, 27 Aug 2011 11:25:40 GMT

Cash line is just that. That amount of your credit line that you have available as a cash advance. It is almost never more that 30% of anybodys' credit line. and that number does NOT report to the credit reporting agencies. Just our credit limit.

Re: BofA Cash line

bobebob — Sat, 27 Aug 2011 13:55:38 GMT

They will report the full CL UNLESS it is a signature Visa. Then they won't report any credit limit. It plays havoc with your util.

Re: BofA Cash line

minimock — Sat, 27 Aug 2011 14:46:54 GMT

I have 10k CL and 10k Cash limit on my siggy card.

One difference might be the banking relationship. I have Checking/Savings and a Merril Stock account. The CC is also tied into my checking for overdraft.

Re: BofA Cash line

scottwagnon — Sun, 28 Aug 2011 02:39:56 GMT

my cash line still equals my credit line until oct. 4th.

Re: BofA Cash line

minimock — Sun, 28 Aug 2011 03:25:51 GMT

Dont know why they are cutting back, the have 5 Billion New Buffet Dollars

Re: BofA Cash line

Anonymous — Sun, 28 Aug 2011 14:26:31 GMT

@scottwagnon wrote:
my cash line still equals my credit line until oct. 4th.

Same here, I called and asked if it's something I did?

I was told "No" its across the board, everyone's cash advances will be cut to 30% of their CL starting Oct 4th.

What's funny is I initially had the BankAmericard Cash Rewards Visa Siggy and it reported no CL, so I PC'd it over to the Bank of America World MasterCard Cash Rewards (there is two ways they can set it up)

1. As a Visa Siggy (Should show no CL)

2. As a Platinum (Will show a CL)

I was going to have it set up as a Platinum until the rep explained all of the benefits of having it as a Visa Siggy so I said oh OK keep it as a Visa Siggy but it now shows a CL on my reports, in all the Emails I get from BoA it refers to my World MasterCard Visa Siggy and also on my Online acct it says World MasterCard Visa Siggy.

I'm just glad it shows the CL, I hope BoA does not catch their mistake.

As far as the Cash Advances being cut to 30%, I personally could care less, I have never taken a cash advance on a CC and I do not plan on doing so anytime soon.

Re: BofA Cash line

haulingthescoreup — Sun, 28 Aug 2011 16:08:57 GMT

@Anonymous wrote:
@scottwagnon wrote:
my cash line still equals my credit line until oct. 4th.
Same here, I called and asked if it's something I did?

I was told "No" its across the board, everyone's cash advances will be cut to 30% of their CL starting Oct 4th.

What's funny is I initially had the BankAmericard Cash Rewards Visa Siggy and it reported no CL, so I PC'd it over to the Bank of America World MasterCard Cash Rewards (there is two ways they can set it up)
1. As a Visa Siggy (Should show no CL)
2. As a Platinum (Will show a CL)

I was going to have it set up as a Platinum until the rep explained all of the benefits of having it as a Visa Siggy so I said oh OK keep it as a Visa Siggy but it now shows a CL on my reports, in all the Emails I get from BoA it refers to my World MasterCard Visa Siggy and also on my Online acct it says World MasterCard Visa Siggy.

I'm just glad it shows the CL, I hope BoA does not catch their mistake.

As far as the Cash Advances being cut to 30%, I personally could care less, I have never taken a cash advance on a CC and I do not plan on doing so anytime soon.

Well, that's different!

I have a BofA World MasterCard, and it does report the limit, and it does not suffer from transcardnetwork confusion.

DD#2 has a BofA Platinum Visa, and her both her card and her online account say that it's a Siggy, but it's not.

My cash limit has been at 1/3 of my $18K CL for as long as I can remember, although as I've never used it (and don't ever plan to), that's a hard memory to pin down. As are so many others.