BofA CLI question

Anonymous · ‎01-02-2017

Hello and Happy New Year!

I had a question about the timeline for asking for CLI's with BofA. I opened a secured card with a $500 limit back on 4/2016. It became unsecured 9/2016 and at that time I got an increase to $2200. The credit line increase option showed up again and am not sure if it's too early to ask for an increase or should I wait? And if I wait, how long? I have lurked on the forums and read folks who have rec'd increases 90 days apart and others 6 months apart. So just wanted to get some others thoughts on this.

For data points...my current uti is <1% with one card with an $800/$6200 balance (promo period) however I just paid off all but one of my cc's. I did have one card reporting 76% uti (5500/7200) and another card at 40% (800/2000). But both are now $0 balance. My reports should update mid January. My current TU score is 741 which is a few points lower from the when the card became unsecured and rec'd the first CLI.

So I guess the question is, should go for the CLI now, after my credit reports update with the lower UTI, or should I wait a few more months?

This forum has been a wealth of knowledge for me so I can't thank everyone enough!!!

CreditCuriosity · ‎01-02-2017

Typically it is a good idea even though button shows up after 3 months between them (CLI's) usually is to wait 6 months between CLI's with BofA for best success.

Your scores being TU are good and make sure before at the 6 months that your credit report reflects lower utilization before pulling the trigger on a CLI for best results. Shoot for the sky and ask for 15-20k and they will counter if they arent comfortable giving you the full amount.

Hope this helps

Anonymous · ‎01-04-2017

@CreditCuriousity wrote:
Typically it is a good idea even though button shows up after 3 months between them (CLI's) usually is to wait 6 months between CLI's with BofA for best success.

Your scores being TU are good and make sure before at the 6 months that your credit report reflects lower utilization before pulling the trigger on a CLI for best results. Shoot for the sky and ask for 15-20k and they will counter if they arent comfortable giving you the full amount.

Hope this helps

+1 Solid advice.