BofA CLI Denial

[CarbonCard]

Long story short, I was denied of CLI. Current CS with them is 821. I actually don't need any more CL ($45k) with them. I just thought to push my luck, and want to reach that 6 figure limit lol. The reason they denied me:

• "economic and loss trends" (COVID for sure)
• "Trend in balance compared to credit line on one or more of your accounts with us and/or our affiliates"
• "Balance relative to your credit line on one or more of your accounts on your credit file"

Basically I should use my credit line, which I'm not lol. My overall credit util is 3%. Anyways, I'll try again in 6 months or so.

[Loquat]

Maybe after some use you'll get them to extend a little more credit. I hit a wall with BoA on my Alaska card some time ago. It got to $45.1k and has been stuck there. But I will say that I hardly ever use the card so they're right in not giving me anymore I guess.

[blindambition]

Those are some interesting new reason codes. The 6 month plan, along with more spend might help. COVID certainly has changed banks lending practices and strategies.

[ccquest]

At least you're not getting some BS codes like some people do!

I think I'm going to try and get mine to the $25k mark and be happy with it. That's definitely below the 50% of income cap and leaves room for another card from them down the line too.

[CarbonCard]

They do have legitimate reasons for not giving in for sure. I also forgot to mention that the card has a balance from a 0% APR BT offer, which will be paid off this month (last payment of 12). I should definitely use it more if I want them to increase my CL, maybe another BT offer when it comes up.

[cashorcharge]

I've seen the second 2 reasons before...essentially..."You're not using the card enough for us to warrant more credit to you" and I made an effort to put more on them PIF before the statement earlier this year.  I was successfully is getting a great CLI but only have I had called to recon.  Initially got denied, told I could call and speak to someone, I did....they didn't have anything negative say other than "you haven't used this card very much" and in the end, I got the increase.  I think it'll take me a while to get to a $99,000 CL on my card

[Curious_George2]

If OP is getting letters based on the same template as the ones I'm getting these days, the reference to the economy isn't presented as a reason in quite the same way as the individualized bits.  My letters read as follows:

"We're sorry - we can't approve your recent credit request.

"We carefully reviewed your request along with economic and loss trends and credit report(s) provided by the credit reporting agency(ies) listed below. We also considered your relationship with us and, unfortunately, we weren't able to approve your request because:"

[insert individual reasons here] 

I'm not criticizing or disagreeing with OP or anyone else. Just wanted to provide the full context of what BofA is saying in their letters.