topic Re: BOA New CLI Policy in Credit Cards

BOA New CLI Policy

MrCredit — Sat, 19 Nov 2011 01:32:58 GMT

I talked to three different analysts on the phone number in the forum for

the credit dept. They state they will do a hard pull on EX for all new CLI

requests. This apparently is a new policy they have instituted. I cancelled

my request. The site does a soft and they follow up with a hard. From

another poster in the forum just a couple of weeks ago they did the same thing

to him.

That sucks!

Re: BOA New CLI Policy

fused — Sat, 19 Nov 2011 01:49:24 GMT

My wife is not going to like this change. For years, she always received CLIs without a hard pull.

Re: BOA New CLI Policy

KIPPIE12 — Sat, 19 Nov 2011 02:41:16 GMT

Sounds like Barclays and Chase. Maybe some tightening up is on the way? Wonder if Citi will follow suit.

Re: BOA New CLI Policy

jason86423 — Sat, 19 Nov 2011 02:44:11 GMT

My latest Citi CLI was indeed a hard inquiry. Citi seems hit and miss on theirs though. For me it has been every other CLI request has been a hard pull.

Re: BOA New CLI Policy

Anonymous — Sat, 19 Nov 2011 05:37:45 GMT

This is indeed very new. I just got a CLI a few days ago with no HP. I think it's a good idea to freeze the reports.

Re: BOA New CLI Policy

Anonymous — Sun, 20 Nov 2011 00:14:38 GMT

@Anonymous wrote:
This is indeed very new. I just got a CLI a few days ago with no HP. I think it's a good idea to freeze the reports.

unless i'm mistaking, freeze would not prevent a hard pull in this scenarion. exhisting accounts still have access to your reports, even if frozen. i could be wrong though.

Re: BOA New CLI Policy

FinanceGuy007 — Sun, 20 Nov 2011 00:39:22 GMT

@Imducky I think that they (existing creditors) can only do a soft when they are reviewing accounts if the profile is frozen. To have permission to do a HP the consumer would have to unfreeze the report to allow the hard pull.

Re: BOA New CLI Policy

Anonymous — Sun, 20 Nov 2011 07:26:27 GMT

Well, I just put in a request online for a CLI, it pulled soft for me so far. We will see if I get a hard down the road.

Re: BOA New CLI Policy

Anonymous — Sun, 20 Nov 2011 13:32:48 GMT

@Anonymous wrote:
Well, I just put in a request online for a CLI, it pulled soft for me so far. We will see if I get a hard down the road.

Please do report back the results, I was going to put in for a CLI Dec 5th.

FWIW, I also spoke to two different reps before my last CLI and they both told me it would be a hard (they both said 100% guaranteed a hard) I clicked the luv button Sept 4th, Sep 6th logged into my online account and it reflected a 10K limit, soft pull only EX.

Re: BOA New CLI Policy

Anonymous — Mon, 21 Nov 2011 19:25:17 GMT

Just got mine. No follow-up hard pull. Last CLI from in June for $1000 to $1500, this time $1500 to $4000.

Factors for success(I think):

1. Don't call - they worst they can do is to deny you.

2. Do it s moderately long intervals, my last three were 5 to 6 months apart.

3. Ask for a limit close to the highest you have reporting on your report, should go through fairly easily.

4. Having no balance probably helps - the case for me for the last two times.

Also, I think BOA reports new limit in a few days after approval - a plus if you want to reduce your util in a bind.

Re: BOA New CLI Policy

Anonymous — Tue, 22 Nov 2011 02:28:11 GMT

I must be the only one who got HP for CLI for both times. First on TU and Second on EX,EQ.

Re: BOA New CLI Policy

AndySoCal — Tue, 22 Nov 2011 03:32:12 GMT

A CLI request by the books is considered the pursuit of new credit and shoul be hard pull. The fact that some lenders do not follow what should be done is different story. A lender can give a CLI as a part of an account review (which is a soft pull) yes. In almost 30 years have had credit I can only remember four or five times I have asked for a CLI. of the four times 50% sucess rate in getting the CLI.

Re: BOA New CLI Policy

Anonymous — Wed, 23 Nov 2011 20:33:39 GMT

Got my CLI on Monday, it's already reporting on Experian by Tuesday. Now I have just applied for three credit cards in the past six months and applied for CLI a total of three times (different CCCs), I am gonna lay low for a while.

Re: BOA New CLI Policy

Anonymous — Wed, 23 Nov 2011 21:06:53 GMT

@Anonymous wrote:
@Anonymous wrote:
This is indeed very new. I just got a CLI a few days ago with no HP. I think it's a good idea to freeze the reports.
unless i'm mistaking, freeze would not prevent a hard pull in this scenarion. exhisting accounts still have access to your reports, even if frozen. i could be wrong though.

If YOU, as a consumer, are REQUESTING your creditor to put in an inquiry for a CLI or anything else that might need a check on creditworthiness, you are ALLOWING them to hard pull you even IF your credit reports are frozen.

Re: BOA New CLI Policy

lithium78 — Wed, 23 Nov 2011 21:15:37 GMT

I requested a CLI online and they gave me a hard pull without warning. I didn't get the increase either so I have nothing to show for it and now I have four hard inquiries on EX. Wonderful.

Re: BOA New CLI Policy

Anonymous — Thu, 24 Nov 2011 04:26:57 GMT

You mind sharing your circumstances please? It will add to our knowledge pool as to how best to go about requesting a CLI from BOA. Like what card? How long do you have the card and how many times of the current limit you are asking.

@lithium78 wrote:
I requested a CLI online and they gave me a hard pull without warning. I didn't get the increase either so I have nothing to show for it and now I have four hard inquiries on EX. Wonderful.

Re: BOA New CLI Policy

scottwagnon — Thu, 24 Nov 2011 05:31:00 GMT

@MrCredit wrote:
They state they will do a hard pull on EX for all new CLI
requests.

no. there is a previous thread that has confirmed that they insist they will hard pull on all cli requests, but they are required to say this. what they will actually do however is initiate an account review and cli based on this, so in a loophole kind of way, they aren't actually offering a cli based on your request. but i wouldn't push my luck. it appears that they wont hard pull unless you request too often, which may prompt them to hard pull your credit.

Re: BOA New CLI Policy

Anonymous — Thu, 08 Dec 2011 09:54:58 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
This is indeed very new. I just got a CLI a few days ago with no HP. I think it's a good idea to freeze the reports.
unless i'm mistaking, freeze would not prevent a hard pull in this scenarion. exhisting accounts still have access to your reports, even if frozen. i could be wrong though.
If YOU, as a consumer, are REQUESTING your creditor to put in an inquiry for a CLI or anything else that might need a check on creditworthiness, you are ALLOWING them to hard pull you even IF your credit reports are frozen.

Did you get HP while your report is frozen? If so, too bad, you're out of luck.

I froze mine, a CCC couldn't HP, and I made them HP the one that isn't frozen. That proves my point.

Re: BOA New CLI Policy

Anonymous — Thu, 08 Dec 2011 21:15:39 GMT

But doesn't there have to be some sort of aknowledgement on our part for it to be a hard pull? Isn't that why we all assume that the luv button will be a soft?

I can't believe that the a request for an increase can assume a hard pull authorization. When I request a CLI from Disc over the phone, if they don't give me an auto, then I get transferred to a person. Even then, there is always the question: Is it ok for me to pull your credit? If I say "no," the process is done.

If BoA does a hard pull without verbal or written aknowledgement, can't we simply contact the CRA's and inform them to re-lable the pull?

jonmyers

Re: BOA New CLI Policy

KingAdrock — Thu, 08 Dec 2011 23:57:22 GMT

@Anonymous wrote:
But doesn't there have to be some sort of aknowledgement on our part for it to be a hard pull? Isn't that why we all assume that the luv button will be a soft?

I can't believe that the a request for an increase can assume a hard pull authorization. When I request a CLI from Disc over the phone, if they don't give me an auto, then I get transferred to a person. Even then, there is always the question: Is it ok for me to pull your credit? If I say "no," the process is done.

If BoA does a hard pull without verbal or written aknowledgement, can't we simply contact the CRA's and inform them to re-lable the pull?

jonmyers

Legally, no. As a creditor that you already do business with, they already have that approval. So legally they can pull a hard whenever they want and do not need to notifiy you.

Keep in mind, that's legally. In practicality, they don't just hard pull whenever they feel like it, because stuff like that makes people like us complain. Loudly.

So generally companies make effort to notify you before a hard pull, but that's in the interest of customer service, not keeping with the law.

topic Re: **BOA New CLI Policy** in Credit Cards

**BOA New CLI Policy**

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topic Re: BOA New CLI Policy in Credit Cards

BOA New CLI Policy

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