BofA Cash Rewards CLI 7-10 day message

Anonymous · ‎01-27-2019

So poked around my BofA Cash Rewards this evening only to find, to my surprise, the request credit limit increase button. It's surprising since I was just granted a CLI from $1,000 to $4,000 in November when I hit my first 6-months. Is it normal to get another option to do so two months later? And, does anyone have experience with getting the 7-10 day message? I'm guessing it is a denial, I asked for $10,000, so not even 3x. Just holding out hope from anyone .

coldfusion · ‎01-27-2019

There is no set pattern for how long one has to wait until the link to request an increase will appear. Roughly 3 months appears to be common but YMMV. I've had it reappear on the same card 2 weeks after a successful request.

A 7-10 day notice for a BoA CLI request does not mean an automatic denial either. It can still be approved upon manual review, typically 1-3 business days after the request.

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

Anonymous · ‎01-28-2019

@Anonymous wrote:
So poked around my BofA Cash Rewards this evening only to find, to my surprise, the request credit limit increase button. It's surprising since I was just granted a CLI from $1,000 to $4,000 in November when I hit my first 6-months. Is it normal to get another option to do so two months later? And, does anyone have experience with getting the 7-10 day message? I'm guessing it is a denial, I asked for $10,000, so not even 3x. Just holding out hope from anyone .

You are allowed to request a CLI on your BofA Cash Rewards card every 90 days. The "luv button" usually shows up several weeks before 90 days have elapsed, but if you ask for an CLI you will be denied for requesting it too early; which is what happened to you here.

Since you were granted a CLI in November you are not eligible for another one until some time in February. Your best bet is to keep track of the date you were last approved for a CLI and only make another request until after 90 days. The good news is that even while you were denied now, you can make another request in February after the 90 day period has elapsed.

Anonymous · ‎01-28-2019

Called the senior credit analyst, was a denial because of too many INQs according to him (SP), but you are probably right. I'll just wait until next month, button is still there .

Anonymous · ‎01-28-2019

@Anonymous wrote:
Called the senior credit analyst, was a denial because of too many INQs according to him (SP), but you are probably right. I'll just wait until next month, button is still there .

I'm not "probably" right; I am absolutely correct. The analyst is simply reading back the text of the adverse action notice they are mailing to you. The notice will say you were denied due to "too many recent inquiries on this account." In this particular context it means that you requested a CLI before you were due one, so there's an inquiry in the account where they shouldn't be any. Just make the request again once 90 days have elapsed since the last increase.