@NichelleN wrote:I applied for a BofA CLI a few days ago and was declined. My reports are locked and I can't remember if I went in and unlocked them before requesting the CLI. (I'd locked and unlocked them a few times for soft pulls while doing some loan shopping). Anyway, I saw the letter online for the decline and it referenced a credit score and report from 4/21, with the decline reason being high balances. My score has increased 57 points since then as I've paid much of it down . Even the score I can see on the BofA site is from 5/21. I did think it was odd that a score from almost two months ago was referenced.
I'll wait until more payments post across the board and give it another shot later. And I'll make sure to unlock the reports before then.
My denial letter referenced an updated June 9, 2020 TU score of 815. Odd that they would use such an old report for you.
@NichelleN wrote:Thanks for that info. I thought the reference to an April report was really odd as well. Now I'm thinking the reports were locked and it simply referenced the last report they have in their system? Then again, I'm not sure why they didn't reference the May report.
My reports were locked as well.
@Meanmchine wrote:BoA has a CL ceiling of 50% of your stated income. Is your income > $60k ?
@Meanmchine is this per card or across all of them? Some time last year I requested a limit of $50k on my BoA PR from its starting limit of $17k, and they gave me a limit of $37.5k with the same message as the OP that I have met my maximum. I'm wondering if I request a $10k limit on my BoA CR if they will deny it and mail me that same reasoning. I'm not yet at 50% of my stated income.
@TSlop wrote:
@Meanmchine wrote:BoA has a CL ceiling of 50% of your stated income. Is your income > $60k ?
@Meanmchine is this per card or across all of them? Some time last year I requested a limit of $50k on my BoA PR from its starting limit of $17k, and they gave me a limit of $37.5k with the same message as the OP that I have met my maximum. I'm wondering if I request a $10k limit on my BoA CR if they will deny it and mail me that same reasoning. I'm not yet at 50% of my stated income.
In my experience when BOA said "sufficient credit extended by Bank of America and/or its affiliates" or whatever the exact wording was, that was only temporary and then 3-6 months later I'd get a counter-offer CLI and the same letter. Rinse and repeat until I hit the infamous $99.9k cap. When I got a "no" with that same reason twice in a row, I stopped asking. I'd love 50% of income as revolving limits with BOA, and I'd be very happy with just $100 more.
@growthadvocate wrote:Hi @K-in-Boston
I have a couple of quick questions. You mentioned a BofA cap of $99.9k--that's overall cap, not per card, correct? Also, was there a specific strategy you used while building your limits with BofA? When you requested CLI's, did you request double your current limit, or more? I currently have the CR and BankAmericard, doing my best to grow both. Any insight is greatly appreciated!
I've never seen anything official from BOA about a cap but a number of here were unable to grow total BOA limits across all cards past $99,900. For most of my requests I shot for the moon, with many of them being $100,000 on one card. Do note that they will reallocate lines automatically at times if you have more than one. That's why my Premium Rewards card is only $9900 (I think starting line was $21k), because the last time I asked for $100k on Travel Rewards, they made it $90k by moving the limit from Premium Rewards.
