Requesting a large credit limit increase - what is reasonable?

[Anonymous]

I have a Bank of America card with a very low APR that is currently paid off.  I have some home improvement projects starting next month that I need to bridge finance for a few months and need more capicity on my card.  Currently I have a $17K limit on this card and I would like to double it.  This is my only exposure to BofA so no other cards from them in the mix.

My credit score is 775 and this card has been open for 13 years.  At certain times it had a high balance but it is at $0 today.

Is asking for double too much?  Should I push for more?

Is it better to call when asking for a large increase?

Do card issuers ever reject and close the account completely?

I plan to apply for the Navy Fed Platnium on the same day but will go for the limit increase first. How fast does any increase hit my report?

[Anonymous]

Just shoot for the moon. They will counter with what you can get. 

NFCU doesn't care about limits on other cards so I wouldn't be worried about having your limit update with BoA. If NFCU seems you worthy of a large limit, you'll get it, and if not, you'll get a smaller one. 

[Anonymous]

Once granted an increase, your new CL should report shortly after your next statement cut with whom you received the increase from. Good luck with your request!

[Credit_hawk]

BofA allows you to request a credit limit increase online without hard pulling your report. In your case, apply online and request $35k if that's roughly what you seek and your income supports it. The good thing about Bank of America is they will counter offer your request if they can't give all that you're asking rather than decline you. Good luck!

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@Anonymous wrote:

I have a Bank of America card with a very low APR that is currently paid off.  I have some home improvement projects starting next month that I need to bridge finance for a few months and need more capicity on my card.  Currently I have a $17K limit on this card and I would like to double it.  This is my only exposure to BofA so no other cards from them in the mix.

My credit score is 775 and this card has been open for 13 years.  At certain times it had a high balance but it is at $0 today.

Is asking for double too much?  Should I push for more?

Is it better to call when asking for a large increase?

Do card issuers ever reject and close the account completely?

I plan to apply for the Navy Fed Platnium on the same day but will go for the limit increase first. How fast does any increase hit my report?

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[Anonymous]

Go more than double, and use the website. Ask over 50K. No need to walk on egg shells. Ask for $55K or ask for 85K. Then end result will be the same.

The worst that can happen is a No. You are very likely to get an increase, and likely to get a big increase if you haven't had one in 13 years.

[M_Smart007]

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@Anonymous wrote:

Just shoot for the moon. They will counter with what you can get. 

NFCU doesn't care about limits on other cards so I wouldn't be worried about having your limit update with BoA. If NFCU seems you worthy of a large limit, you'll get it, and if not, you'll get a smaller one. 

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+1

Saeren is spot on!!!  .. "Shoot for the Moon" .. they will counter you if your high request is not granted.

[AllZero]

Good luck. Report back with your success.

[Anonymous]

Best of luck!

[TekkenQQ7]

Best of luck and don't be shy. 

[seattletravels]

Good luck! Let us know how it goes!