BOA CLI Denied

[Nayola]

I currently have a $4,000 credit limit with BOA.  I applied for a $10,000 increase and was denied.  The stated reason was that my account is too new (It is 11 months old) and that I do not have any other deposits or anything with their bank.  My TU FICO is currently at 728.  She told me to apply again after my account has passed the one-year mark.

I'm anticipating that my FICO will go up in a couple weeks with the next reporting because I paid down some stuff on a different card which should improve my currently high utilization percentage.  So maybe I will try again in November.

[Anonymous]

Wow. Usually you can apply for a CL increase sometimes as early as 30days. They should give you the increase!!! Did they do a hard credit pull from all 3 bureaus for you CLI request? Good luck in the future!!

M

[coldfusion]

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@Anonymous wrote:
Wow. Usually you can apply for a CL increase sometimes as early as 30days. They should give you the increase!!! Did they do a hard credit pull from all 3 bureaus for you CLI request? Good luck in the future!!

M

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BANA uses TU for CLI requests, nowadays usually it's a SP.  They're not in the habit of triple pulls, that's a Capital One-ism. 

Before they started using SPs for CLIs this past spring, if you had applied for a BoA card within the last 30 days they would reuse that EX hard pull to evaluate the CLI request. 

[FinStar]

OP, at least it was SP. You can definitely try again in the next few months.

[Anonymous]

I should probably know but what bank is BANA? Thanks.

M

[FinStar]

I think that was meant to read as BoA, unless it actually meant to read as Bank of America, National Association.

[AverageJoesCredit]

Lol i read Banana

Boa likes to throw out the no assets or banking relstionship on denials. While my income is insufficient for them, the no assets/ banking relationship is my nail in my coffin😏

[Anonymous]

Does Bank of America pull from all 3 bureaus? I have an "offer" when i log onto my checking account. The same when I am in my Chase Freedom acct. They say I have a few offers for certain credit cards.  Is that just a bunch of bull to get me to aplly, or is it a pre-approved card I can get? Will there be hard pulls too? Thanks.

M

[FinStar]

BoA generally HPs EX for new applications, unless a CLI is in process with a new prospective application where TU *may* be used but that's more of a YEMV thing.

For CLI requests, they pull TU. These are SP as of recent.

ETA - unless the offers specifically state that you are pre-qualified or pre-approved, then they are likely just marketing invitations to expand your banking relationship.

[Anonymous]

Yes, on all points!!  Thank you

M