BofA 99/500 Cash Rewards Card Question

Anonymous · ‎10-20-2017

Back in May I was countered with the 99/500 Cash Rewards 1,2,3 card - and I accepted. I love this card. I'm not typically able to PIF every month, but I still pay more than my minimum payment on time. Earlier this month the fifth statement posted, and today I noticed the "Request Credit Line Increase" button appear - I clicked it and requested a modest $1500 line of credit. I received the 7-10 day message, so who knows if it'll actually happen or not. My FICO is still in the 630 range, so doubtful.

However, my main question is that I've heard that once this CLI button appears, that can sometimes mean that BofA has unsecured the 99/500 card. Is this accurate? Or is it just something that appears after the fifth statement regardless of eligibility?

Anonymous · ‎10-20-2017

Hi @JonMark

Someone recently posted that they had the same thing happen to them. They called to recon and found out that you have to first call to have a "manual" graduation from secured to unsecured and then request the cli.

I have the same card since end of July. So, my 5th statement should cut end of December. My plan is to call then to ask them to unsecure (hoping to see that request a CLI just prior)!

Good Luck!

betax · ‎10-20-2017

Same boat as you. Just made the 5 month cut. Mine shows the CLI link. I pressed it and got 7-10 as well. A TU hardpull fico@ 630. Called CS, person i got was not much help when i asked about graduation and just seen the CLI request pending. May try to call again.

Anonymous · ‎10-20-2017

I had the same thing happen to me but I asked for 5k. Got the 7-10 message. Called the back door number and they told me the analyst was looking at it. At the end of the day it was upped to 1k and my deposit was back in my savings account.

Anonymous · ‎10-20-2017

I'm on the line with a credit analyst right now - she said that they can submit both requests: my previous CLI request and the unsecured request at the same time. I'm currently on hold while she reviews the account. Fingers crossed.

Anonymous · ‎10-20-2017

Aaaand .. Denied. She said everything looked great except too many inquiries in the last 12 months. I did go app happy end of last year and beginning of this year, and have kept my apping very scarce since mid-summer, so hopefully a few more months and a lot of those inquiries will drop off. Ah well, at least I have my answer and know the reasoning (not a bad reason, just kicking myself for it lol)

For those in the same boat, here is the Credit Analyst line I called: 800-354-0401

Anonymous · ‎10-20-2017

@Anonymous wrote:
Aaaand .. Denied. She said everything looked great except too many inquiries in the last 12 months. I did go app happy end of last year and beginning of this year, and have kept my apping very scarce since mid-summer, so hopefully a few more months and a lot of those inquiries will drop off. Ah well, at least I have my answer and know the reasoning (not a bad reason, just kicking myself for it lol)

For those in the same boat, here is the Credit Analyst line I called: 800-354-0401

How many inquiries did you have?

Anonymous · ‎10-20-2017

@Anonymous wrote:
@Anonymous wrote:
Aaaand .. Denied. She said everything looked great except too many inquiries in the last 12 months. I did go app happy end of last year and beginning of this year, and have kept my apping very scarce since mid-summer, so hopefully a few more months and a lot of those inquiries will drop off. Ah well, at least I have my answer and know the reasoning (not a bad reason, just kicking myself for it lol)

For those in the same boat, here is the Credit Analyst line I called: 800-354-0401
How many inquiries did you have?

She didn't say, and I didn't ask. I know it was a lot, probably an embarrassing number. Not to mention at the beginning of the summer I was trying to trade in my Jeep for a truck and tried a few different dealerships before giving up - so I know each delearship visit resulted in a lot.

betax · ‎10-20-2017

Hello Jonmark,

I spoke to a credit anyalist. I was given two options:

Soft pull to see if card could graduate with existing 500 CL and 99 deposit returned.

Hard pull to graduate card, return deposit, and Credit limit increase request.

Well i chose the second option and i too was denied for too many inquiries in the past 12 months. This was the only thing mentioned during the call for denial.

Thought this would help others.