Bank of America credit increase no go at this time very nice recon.

[firefox100]

I have a BOA mastercard with 25K limit with balance at this of 140 dollars, I have been paying about 140 dollars per month for last 12 months on a 1,500 dollar balance transfer offer from last year. This card has no rewards so I only use this card for balance transfer offers when it make sense to do so. First I called Customer service and ask for a credit line increase from 25K to 27K on income of 85K, the answer I got is you will get a letter in 4to 5 days. I BOA recon line hour later 877 721 0401 and talk to very nice lady. She said let me pull up and see what is going on, Your not using enough of credit line I said could you take another look to see if you can do any thing for. She said let me take another look, I ask is go to be soft pull not a hard pull, she said yes only soft pull. When she came back on line she said I am sorry but I can't do any thing then she said you have great credit but you should be happy you have great credit line and what is going on your lucky not to have line cut. I said thank you but I only use the card for balance transfers this card has no rewards and I don't put any charges on the account while I have offer on the card. Then she said if I where you you should open and apply for one our  reward credit cards. I said thank you, I am not unhappy BOA handle this call correctly and told me up front why I was denied and did not say you will need to wate for letter to come. This bank knows how to handle customers not like some others. My take away is there is a change how banks are dealing with lines of credit at this time. My experian fico score is 814 at this time.

[AllZero]

That is unfortunate about your denial. Have you tried product changing it to the Cash or Travel Rewards?

[cashorcharge]

Thanks for sharing the details @firefox100   

I had a similar experience over the summer.  I too, rarely use the card as I get better rewards elsewhere.  Requested the CLI and was initially told it was declined.  Without waiting for the letter, I found the number for Underwriting Recon on here and called.  Spoke to a really helpful guy who said he'd do a manual review and call me back in 2 days.  Sure enough, he did and my CLI was approved.   

I then waited about 60 days and called to ask for a PC to one of their other rewards cards and was told a PC was not available at this time and I could apply for another and then adjust my limits around if I wanted.  I didn't apply for the 2nd card but appreciated how helpful they were and also appreciated the SP CLI.  The button hasn't come back...and like you, I don't use the card all that much.  We'll have to see how things progress.  

[AverageJoesCredit]

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@firefox100 wrote:

I have a BOA mastercard with 25K limit with balance at this of 140 dollars, I have been paying about 140 dollars per month for last 12 months on a 1,500 dollar balance transfer offer from last year. This card has no rewards so I only use this card for balance transfer offers when it make sense to do so. First I called Customer service and ask for a credit line increase from 25K to 27K on income of 85K, the answer I got is you will get a letter in 4to 5 days. I BOA recon line hour later 877 721 0401 and talk to very nice lady. She said let me pull up and see what is going on, Your not using enough of credit line I said could you take another look to see if you can do any thing for. She said let me take another look, I ask is go to be soft pull not a hard pull, she said yes only soft pull. When she came back on line she said I am sorry but I can't do any thing then she said you have great credit but you should be happy you have great credit line and what is going on your lucky not to have line cut. I said thank you but I only use the card for balance transfers this card has no rewards and I don't put any charges on the account while I have offer on the card. Then she said if I where you you should open and apply for one our  reward credit cards. I said thank you, I am not unhappy BOA handle this call correctly and told me up front why I was denied and did not say you will need to wate for letter to come. This bank knows how to handle customers not like some others. My take away is there is a change how banks are dealing with lines of credit at this time. My experian fico score is 814 at this time.

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I dont know, seems like you are playing with fire. Asking for a cli on a 25k line that has $1500 usage is not unheard of being we are on myFico but actually reconning with a live csr then telling them you only use card for bts is dangerous in this current environment.  She even said you are lucky they dont reduce your line. You may have put eyes on your profile that didnt need be. My advice for now, though unsolicited,  is lay low on those high limit cards you have that arent getting high spend. 

[kdm31091]

It's clear to the bank you are not using the limit you've been extended. With an actual human on the phone reviewing your file, it only becomes more clear. What's their incentive or rationale to extend you more credit if you seldom use what you have, and only for BTs at that? Like another poster said I think in this climate I'd leave well enough alone and not ask for additional credit on that account.

[Curious_George2]

@firefox100: Thank you for sharing this. It's helpful to hear others' experiences. I share your view that BofA handles CLI requests very fairly and professionally. 

@AverageJoesCredit: I always respect your advice. I'm curious: have we seen BofA do CLDs for lack of use? Or are you just saying they might start doing them, like CapOne did?

[blindambition]

What @AverageJoesCredit said! This is your answer. A million times over. The reps also notate what was said on call. 🤦‍♂️ 

[firefox100]

Yes the bank could cut my credit line, the bank is makmaking money on my account they are paying near zero and lending out the money with 3 percent transaction fee with my profile at lilittle risk. If the bank takes notes on what I said I only use this card when it makes sense, not because I am desperate or need the cash. What I did last year with, this card deposit to my checking account to pay off my discover card which had 1500 dollar balance which was from 5 percent category so my net profit was 2 percent. I am not going to ask for any more credit line increase on the BOA mastercard for next year or so. I don't think BOA is going to cut lines if you have strong profile and your other credit cards stay low, if they see your balances going up then you may have problem. She did say your credit file is great shape. The botton line the lady was saying you will be approved for a rewards credit card in not so many words.

[firefox100]

Ok, I think BOA makes more money when I do a balance transfer on this type of an account then if I open cash rewards type of account. I don't carrie balance only when I have BT offer. BOA will give 200 dollar bonus and also pay me 2 and 3 percent cash back on some categories and I won't pay any intrest for the first year, how are they going to make any money with me on the new account. I am not going to apply for cash back card because if the computer programs at BOA are smart enough they may be able to see that I won't pay any intrest so they may turn me down. I am going to put lot of spend on my US altitude go visa and next year will ask for credit line increse, also next month will see if Wells fargo Propel will grant me an increase, I have been spending about 700 per month and paying it off before statement cuts.

[chiefone4u]

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@firefox100 wrote:

Ok, I think BOA makes more money when I do a balance transfer on this type of an account then if I open cash rewards type of account. I don't carrie balance only when I have BT offer. BOA will give 200 dollar bonus and also pay me 2 and 3 percent cash back on some categories and I won't pay any intrest for the first year, how are they going to make any money with me on the new account. I am not going to apply for cash back card because if the computer programs at BOA are smart enough they may be able to see that I won't pay any intrest so they may turn me down. I am going to put lot of spend on my US altitude go visa and next year will ask for credit line increse, also next month will see if Wells fargo Propel will grant me an increase, I have been spending about 700 per month and paying it off before statement cuts.

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They will make money from merchants with you swiping your card. Creditor's go after people for different reasons; if they think you'll swipe your card 100 time's a month they'll often charge less in interest (US Bank straight up told me they were raising my interest rate because I wasn't using it enough).

If you rarely swipe the card but carry a balance (which you don't), they make money off interest.