Bank of America Cash Rewards CLI to $78,900

[Anonymous]

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@RickNATL wrote:
Dang!!!! Amzaing work!!! Not sure u shared any DPs, bank relationship, etc. Can you share?

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@RickNATL I'm not certain exactly what datapoints you're after but here goes...

Current 5/24 status:  11 revolving accounts in the past 24 months but only 2 revolving accounts in the past 12 months

Total Inquiries in the last 12 months: 3

Income:  Adequate

BofA Relationship:  I opened Advantage Plus Banking and MerrillEdge Cash Management accounts in August 2019 and deposited enough assets to qualify for the Platinum rewards tier.  This was done in order to improve my chances of approval for the Premium Rewards card and does not seem to have had any influence on the Cash Rewards card limit since it was at $85,000 before I started a banking relationship with BofA.

Here's how the Cash Rewards credit limits grew in just over two years:

8/23/17 - $2,000 SL - Visa Platinum approved

11/25/17 - $5,900

3/26/18 - $13,000

3/29/18 - Requested conversion to Visa Signature

7/3/18 - $23,100

10/6/18 - $37,000

1/5/19 - $50,000

4/29/19 - $70,000

7/29/19 - $85,000

9/23/19 - $70,000  - Limit reduced as a portion was taken by BofA to fund newly approved Premium Rewards card

12/23/19 - $78,900

[Aim_High]

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@Anonymous wrote:

Here's how the Cash Rewards credit limits grew in just over two years:

8/23/17 - $2,000 SL - Visa Platinum approved

11/25/17 - $5,900

3/26/18 - $13,000

3/29/18 - Requested conversion to Visa Signature

7/3/18 - $23,100

10/6/18 - $37,000

1/5/19 - $50,000

4/29/19 - $70,000

7/29/19 - $85,000

9/23/19 - $70,000  - Limit reduced as a portion was taken by BofA to fund newly approved Premium Rewards card

12/23/19 - $78,90

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Excellent,  @Anonymous !  

For comparative purposes, what proportion of your credit line were you spending to grow it so high and so quickly?  I'm guessing it was very regular and a healthy use of the limit you had at the time?  Mine grew to $70K but that was very slowly over about 20 years.  I didn't use a high portion of it except for some BT offers I had under $20K at one point.  I also didn't push for higher limits on it for a long time.  It mainly grew over $35K after my FICO scores were way over 800, income was very high, and I asked for more increases.  Ironically, compared to some lenders, I was using very little of my Cash Rewards credit line when they expanded the limit to $70K.  Some lenders would not have done that. 

[Anonymous]

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@Aim_High wrote:

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@Anonymous wrote:

Here's how the Cash Rewards credit limits grew in just over two years:

8/23/17 - $2,000 SL - Visa Platinum approved

11/25/17 - $5,900

3/26/18 - $13,000

3/29/18 - Requested conversion to Visa Signature

7/3/18 - $23,100

10/6/18 - $37,000

1/5/19 - $50,000

4/29/19 - $70,000

7/29/19 - $85,000

9/23/19 - $70,000  - Limit reduced as a portion was taken by BofA to fund newly approved Premium Rewards card

12/23/19 - $78,90

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Excellent,  @Anonymous !  

For comparative purposes, what proportion of your credit line were you spending to grow it so high and so quickly?  I'm guessing it was very regular and a healthy use of the limit you had at the time?  Mine grew to $70K but that was very slowly over about 20 years.  I didn't use a high portion of it except for some BT offers I had under $20K at one point.  I also didn't push for higher limits on it for a long time.  It mainly grew over $35K after my FICO scores were way over 800, income was very high, and I asked for more increases.  Ironically, compared to some lenders, I was using very little of my Cash Rewards credit line when they expanded the limit to $70K.  Some lenders would not have done that. 

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Not as much as you would think.  Looking back at an earlier thread, when the limit reached $37,000, the highest balance ever reported to the credit bureaus was $740.  I was using the card as a daily driver for a while so spending wasn't huge but I was generating swipe fees constantly.  

[ChargedUp]

Congrats @MaizeandBlue !

I'm right behind you with BoA.. My SL and credit increases are pretty close to what you have been given. I haven't split mine into another card (yet), but I'm hoping to keep in your footsteps! Awesome job you've done there!

[Anonymous]

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@ChargedUp wrote:

Congrats @MaizeandBlue !

I'm right behind you with BoA.. My SL and credit increases are pretty close to what you have been given. I haven't split mine into another card (yet), but I'm hoping to keep in your footsteps! Awesome job you've done there!

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Congrats on your growth.  In hindsight I would not have split the credit limit and I'm reasonably sure I could have maxed out the Cash Rewards card at $99.9K.  The Premium Rewards card is nice but it really doesn't offer anything that I couldn't get from the Chase Sapphire or Amex Gold cards.  Plus its an additional rewards system to monitor.  The PR card was the only one I applied for last year so if I'd had a bit more patience my AoYA would be over a year and I would have seen a nice scoring bump for that.