I have a BoA card with $2,500 limit and spend around $6K on average per month on expense (personal and business sometimes). Never been late with them. I saw their blue link button pop up on the 89 day since my last CLI. I thought it has been 90 days so I waited the next day to apply for an increase. I asked for $10K thinking they'd give me about 7500 which was more than enough. I got a 7-10 day message and thought it was a decline. Later that night i saw the blue link still up and thought "maybe what I asked was too high" and applied again. (stupid, i know). The same message popped up "7-10 days etc. ". I realized this morning that my calendar was off by a day on the last time i asked and was approved for a CLI. Should I try the button again or leave it alone? If I should leave it alone how long should i let it be?
UPDATE:
Well I asked again on the 92nd day and got the same message. I'll ask again after another 91 day. Dont want to get AA haha
Usually they need at least 90 days and sometimes the link comes back a little sooner even if you are not eligible yet.
Nothing to really lose by asking again other than another possible letter. Don't worry about asking for too much. Bank of America always counteroffers when you are eligible for a credit line increase but not the full amount. If no increase or counteroffer is given, you are likely not eligible at the time you asked.
If memory serves me, I only recall reading one success story on a double dip CLI. The majority of the time, it will be a denial with the 7-10 letter.
Perhaps, leave it alone, then try again in 90-91 days if the hyperlink appears again.
@Curious_George2 wrote:
@K-in-Boston wrote:Usually they need at least 90 days and sometimes the link comes back a little sooner even if you are not eligible yet.
Nothing to really lose by asking again other than another possible letter. Don't worry about asking for too much. Bank of America always counteroffers when you are eligible for a credit line increase but not the full amount. If no increase or counteroffer is given, you are likely not eligible at the time you asked.
Counterpoint: https://ficoforums.myfico.com/t5/Credit-Card-Applications/BofA-says-I-request-CLI-too-often/td-p/615...
Oh wow that response sounds scary. I did not expect that type of letter to be sent.
@AllZero wrote:If memory serves me, I only recall reading one success story on a double dip CLI. The majority of the time, it will be a denial with the 7-10 letter.
Perhaps, leave it alone, then try again in 90-91 days if the hyperlink appears again.
Do you mean double dip as in they pressed the button more than once and got approved for each request on the same day? I'm guessing BoA updates their systems after midnight?
@JohnSnow wrote:
@AllZero wrote:If memory serves me, I only recall reading one success story on a double dip CLI. The majority of the time, it will be a denial with the 7-10 letter.
Perhaps, leave it alone, then try again in 90-91 days if the hyperlink appears again.
Do you mean double dip as in they pressed the button more than once and got approved for each request on the same day? I'm guessing BoA updates their systems after midnight?
I don't recall the exact specifics. It could have been the same day or next day 🙍. I believe it to be an outlier.
@Anonymous wrote:
@JohnSnow wrote:... Should I ...
You know nothing, John Snow.
LOL! When I ask for CLI from the Iron Bank