topic Re: BoA CLI Policy in Credit Cards

BoA CLI Policy UPDATE

Anonymous — Thu, 24 May 2012 21:21:39 GMT

So I have seen a few other people post about their luck with CLI's and which bank did it. So here's my experience:

I just got off the phone with Bank of America, I have a Cash Rewards card that has been open since August of 2011. So I called to see what a CLI would cost me, inquiry wise, and what their reviewing policy was for their credit accounts. I was told that they are currently not reviewing accounts, and basically customer's could only get a credit limit increase if they requested one themselves, which would cost a hard inquiry.

He said though, that a good rule to go by is to request one at the 6 month, to one year mark. So I asked him if my credit limit was frozen until I request one, upon which, he answed, "yes."

Ugh.

Re: BoA CLI Policy

Anonymous — Wed, 23 May 2012 00:42:07 GMT

@Anonymous wrote:
So I have seen a few other people post about their luck with CLI's and which bank did it. So here's my experience:

I just got off the phone with Bank of America, I have a Cash Rewards card that has been open since August of 2011. So I called to see what a CLI would cost me, inquiry wise, and what their reviewing policy was for their credit accounts. I was told that they are currently not reviewing accounts, and basically customer's could only get a credit limit increase if they requested one themselves, which would cost a hard inquiry.

He said though, that a good rule to go by is to request one at the 6 month, to one year mark. So I asked him if my credit limit was frozen until I request one, upon which, he answed, "yes."

Ugh.

It's probably frozen if you do request one lol... I think I'll be cutting my BofA loose next March. It makes me sad because it'll be 5 years old, but I haven't gotten a CLI since it's first birthday. At this point even my HSBC card has a higher limit and no AF - so it's not worth paying BofA's fee anymore. Probably take my bank accounts elsewhere as well when that happens.

The only good thing about them is their fancy ATMs!

Re: BoA CLI Policy

Anonymous — Wed, 23 May 2012 03:15:59 GMT

Have you guys tried the online CLI button? I have always had luck with them, w/o hard pulls. Actually, I have never gotten a hard pull from BOA using their CLI button online and I went from $500 to $4000 over the span of 2 and a half year in 3 CLIs. I am happy at what I have now though, so I am not about to try my luck.

Re: BoA CLI Policy

Anonymous — Wed, 23 May 2012 03:24:19 GMT

I have always heard that the online Luv button, more like the "hate button" is always a HP and I was also told that by the CSR. I also assumed it would be a HP based of the wording they use, "You allow us to obtain a current credit report" while entering your info.

When was your most current CLI? Did you use the button? And how do you know it wasn't a HP?

Re: BoA CLI Policy

Anonymous — Wed, 23 May 2012 11:09:46 GMT

@Anonymous wrote:
Have you guys tried the online CLI button? I have always had luck with them, w/o hard pulls. Actually, I have never gotten a hard pull from BOA using their CLI button online and I went from $500 to $4000 over the span of 2 and a half year in 3 CLIs. I am happy at what I have now though, so I am not about to try my luck.

I've tried it, but haven't seen any success although I have seen the hard pull from it lol

Re: BoA CLI Policy

Smug — Wed, 23 May 2012 11:13:35 GMT

I went from 2000 to 5000 however it was hard but worth it to me.

Re: BoA CLI Policy

Anonymous — Wed, 23 May 2012 20:58:34 GMT

So, I went ahead and asked for a CLI. I am curently at $600, and just paid off a $62 balance. I requested an increase to $1400. I got the "call a credit analyst for an instant decision" but I was at the store so I didn't call and ended up being signed out, since the session timed out. Any advice?

Re: BoA CLI Policy

Anonymous — Thu, 24 May 2012 21:24:11 GMT

As of yesterday, my request was being processed, and I would get a written response in 5-7 days, which didn't sound very promising. Today after school, I called and spoke to a very, very nice credit analyst, who just verified I was employed because something happened with the form I filled out online. She instantly approved me for an $800 increase that was available immediately. It makes me wonder if I could go higher if I called again.

I applied yesterday at about 1 pm or so, and I have yet to see an inquiry hit. Makes me wonder if they are really just soft pulls.

Re: BoA CLI Policy

Heavy-Handed — Fri, 25 May 2012 05:33:40 GMT

I submitted a CLI request online over the weekend for my BofA Amex and got the message below:

Call Us Today for an Instant Decision!

Thank you for your request! In order for your credit line increase to be processed,

please call 800-318-6649 to speak to a credit analyst

I ignored it and yesterday I noticed my limit had moved up from 5k to 15k as requested. They pulled a hard on transunion (Fico 728).

Re: BoA CLI Policy

Anonymous — Fri, 25 May 2012 05:35:20 GMT

I got the same, and it was around yesterday at 1p.m. I have yet to received an alert from ScoreWatch...

topic Re: BoA CLI Policy in Credit Cards

BoA CLI Policy ***UPDATE***

Re: BoA CLI Policy

Re: BoA CLI Policy

Re: BoA CLI Policy

Re: BoA CLI Policy

Re: BoA CLI Policy

Re: BoA CLI Policy

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Re: BoA CLI Policy

Re: BoA CLI Policy

BoA CLI Policy UPDATE