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My Better balance card hit 7 months today. Logged into BofA site and got the CLI button. Thanks to Myfico, learnt it was TU HP which I was OK with (my EX is frozen).
Existing limit was 6.5K and for the heck of it, asked 15K (what can go wrong, they'll counter, right?)...to my surprise I was approved for full 15K
"Congratulations! Your credit line has been approved.
Your new total credit line is $15,000.00 with a cash credit line of $1,500.00 and is available for immediate use.
Use your available credit to transfer balances from other creditors online today."
Thanks BofA !
Congrats on your CLI
BofA is weird with the cash advance limits.. My CL is $2800, with a $1400 Cash line...
congrats on the CLI! Seems like BofA has been a roll lately with the generous limits!
@fltireguy wrote:Congrats on your CLI
BofA is weird with the cash advance limits.. My CL is $2800, with a $1400 Cash line...
I have noticed that their Cash line doesnt seem to correlate with the limit, and everyone seems to have different cash lines. Do you think it has anything to do with BofA cash line ability/and options? Seems like you can do direct deposits and transfers from CC to checking account, and other stuff with their cash line.
I believe you have access to your entire credit line in cash if you do a transfer to your bank account. If withdrawing from an ATM, the amount is drastically lower.
I just opened mine at 10K and have a 3K cash side to it.
There's 2-3 options to use the cash side:
CA - take money at an ATM
CA - take money to your checking account
CA - check to cash
And when you look at your statement there's 4 catagories for which they'll charge interest depending on how you use the card.
@Gmood1 wrote:
I believe you have access to your entire credit line in cash if you do a transfer to your bank account. If drawing from an ATM, the amount is drastically lower.
I recall seeing this here as well. I know I can do it with my Disco to my checking account if I wanted to pay the fee to do it. For some this cash option can be helpful but, those 3% fees have to have an impact if you're constantly doing this month after month.
@austinguy907 wrote:
@Gmood1 wrote:
I believe you have access to your entire credit line in cash if you do a transfer to your bank account. If drawing from an ATM, the amount is drastically lower.I recall seeing this here as well. I know I can do it with my Disco to my checking account if I wanted to pay the fee to do it. For some this cash option can be helpful but, those 3% fees have to have an impact if you're constantly doing this month after month.
Oh for sure, not something I'd want to do unless it were a life or death situation.