@2ski wrote:
@CBrow wrote:
Well here we go again. 3 months after my last increase with Bank of America, they decide to keep going. Same financial details as the last request, but only a 8.7k bump this time (asked for $60k). I'll take it. Anyone have any idea what their threshold is regarding credit limit as a ratio of total yearly income?
This has been my go to online card, so it doesn't see a huge amount of charges on it, but apparently enough.
Since 3/2020: 3k > 6k > 18k > 34.3k > 43k
Congradulations on the CLI ! It looks like it's been a great year with BOFA for you.
I am just days away from pushing for a large CLI.
One of the best members for BOFA knowledge is @FinStar, and he might be able to shed some light on the maximum CL vs. yearly Income ratio for BOFA.
I could have sworn in the BOFA 99k thread someone had said they thought it was 50% of yearly income was the max CLI they would give you. Please don't quote me on that. I tried to find it but was unable to locate it in the thread. That's an impressive CL congradulations again!
Thanks for the tag @2ski 😁 There's a few members who have reached the infamous $99.9K threshold (whether on a single or multiple CCs). @K-in-Boston and @coldfusion are also very familiar with BoA and @simplynoir was just recently approved for a CLI in November that took his Premium Rewards to $120K. My personal CC exposure with BoA is north of $200K (excluding biz CCs). There's @Mahraja who also has pretty high BoA exposure as well, IIRC.
I'm not sure there's a specific income ratio per se, and I know there's some information floating around with a figure of ~50%, but that's just a theory because I've seen higher limits on ML Wealth Management CCs that dwarf most of what we see. They do take into consideration quite a few things once you reach >$100K.
@Anonymous wrote:Man, from $3k to $43k in 10 months time? Very impressive growth!
Has your profile changed much over those 10 months? I guess what I find most surprising is the $3k SL on a profile capable of $43k inside of a year, unless your profile has dramatically improved. Awesome results nonetheless!
I'll be curious to see what sort of CLI you get next time around in (say) 3 months or so if you request $60k again. With your income being near 6 figures, it sounds like the $43k limit you're at now is approaching on 50% of that and there might be only enough left for a smaller CLI next time around to bring you to your exposure ceiling.
@Anonymous that $3k starting limit was back from 2016. The only reason I started the heavy CLIs was because I finally found out BoA was doing soft pull CLIs. So I don't know if the previous spend I've done on the card (it was anywhere from $1-2k a month in college) that influenced the decisions.
I am so glad to have found this message thread. I have a question for all of you. I truly want to ask for a CLI from BoA, for my Cash Rewards card. But everytime I click on the link that pops up to ask for a CLI, a screen pops up that I need to fill in some questions plus a statement that by submitting the info, I am authorizing the to pull my credit report. I have always exited the screen, simply because I don't want an another HP. So my question is, even with the language, is BoA granting increased based on a SP? TIA. And, if I have posted this in the worng place, please advise me where I should post the inquiry.
@IncrsCreditScore wrote:I am so glad to have found this message thread. I have a question for all of you. I truly want to ask for a CLI from BoA, for my Cash Rewards card. But everytime I click on the link that pops up to ask for a CLI, a screen pops up that I need to fill in some questions plus a statement that by submitting the info, I am authorizing the to pull my credit report. I have always exited the screen, simply because I don't want an another HP. So my question is, even with the language, is BoA granting increased based on a SP? TIA. And, if I have posted this in the worng place, please advise me where I should post the inquiry.
@IncrsCreditScore They've been SP. Feel free to freeze your 3B reports if unsure. Then give it a shot.
For your reading pleasure BoA to stop HPs for CLI’s
All my CLI in the past has been SP.
However, @IncrsCreditScore might have a point. I am a bit nervous myself..
becuase thier language and placement of this disclosure is quite explicit and strong.
I don't think they had a language like that before or maybe I am just imagining things.
