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You...REALLY, REALLY...
CONGRATS @Aim_High on your LEGENDARY BofA CLI and Thanks for the DPs!!!
"... Yikes. What is the DEAL, BofA??? They probably wouldn’t give me even a secured card but they shower you with money and you don’t even use the card??
If there are lessons here, this is my best guess.
I think the keys here for the approval of the high line were ....
(1) My 19-year history with them, which including checking for at least 12 years.
As I've said before, relationship and age matters! Banks like long-term customers.
(2) My payment history with them had been flawless.
(3) A few years ago, I carried a large balance with them on BT and paid if off.
(4) I had used the card in recent years (although not heavily or often.) It wasn't sock-drawered.
(5) My credit scores right now are very high, higher in the past couple of years than ever.
(6) I had two other credit lines in that range already so they weren't the first one to stick their neck out.
Lol
Congratulations on your CLI approval!
@Aim_High wrote:I have a Visa card with Bank of America that is almost 19 years old. I converted it several years ago from a regular visa to the Cash Rewards. (I don't even think they offered this card in 2000.) I banked with BoA several years ago but no longer have active accounts with them.
I haven't even used this card very much in last few years but just enough to keep it active. This is one of my oldest accounts, however, so I want to keep it open. The last big use for it was about 5-10 years ago when I had a big balance transfer offer that I took advantage of for most of my existing credit line at that time.
My credit line for past couple of years was sitting at $32.6K and that was after a hard pull, back when they used to require that. My credit score and my income have substantially improved in recent years, and I also read that they now do soft pulls. I decided to try my luck. Reading about others' successes with initiating credit line increases gave me more confidence to request it myself. As I've learned, the squeaky wheel definitely gets the grease.
Imagine my surprise when they notified me by email a few hours later that I had been approved for a 53% increase on my credit line from $32.6 to $50.0K !!!
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Data Points:
FICO Bankcard Score 8:
(TU) 843 (04/19/19)
(EQ) 840 (04/23/19)
(EX) 803 (05/09/19) > *more HPs from recent Chase apps
AAoA: 10 years +
AoOA: 25+ years
Income: High (well into six figures)
Total Credit Card lines: $374.9K after recent increases on 3 accounts
Credit Card debt: PIF mostly before due dates
Utilization rate: 01%
*My highest three Credit lines are now $50K, 50K, and 49.5K.
*My lowest CL is $21.9K. I closed all my smaller store accounts.
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Note: I am definitely seeing how leveraging credit lines between accounts
over time helps to raise your overall limits. It appears when banks see
other high limits, they are more willing to raise your account to stay competitive!
BOA is on a roll. This makes the second $50K approval Ive read in the last 5 minutes.
Congratulations to you on this outstanding CLI. And in your case, it’s not the squeaky wheel that gets the grease. lt’s the impressive credit profile that gets the dough. And so well deserved too.
Congrats OP. I also tried the love button on my BOFA Cash Rewards and got up to 18,800 the other day. I was sitting at 10k for the past few years because I didn't know it would be a SP.
Wow !!! Thats Bofa for ya congrats
Wow !!! you just have to lov3 bofa Congrats !!!!