BoA Cash Rewards CLI Approval

Anonymous · ‎09-23-2019

Got the card a few months ago with no credit score, had a very low limit of $500. Wanted to be modest and request only $1500. Got approved instantly. I know $1500 isnt that much, but you have to start somewhere right? Hopefully now that I have a score, the next credit card that I apply for, maybe I'll get a $2000+ limit.

CramEiko · ‎09-23-2019

@Anonymous wrote:
Got the card a few months ago with no credit score, had a very low limit of $500. Wanted to be modest and request only $1500. Got approved instantly. I know $1500 isnt that much, but you have to start somewhere right? Hopefully now that I have a score, the next credit card that I apply for, maybe I'll get a $2000+ limit.

Welcome to MyFico.

Now the hard part!

With little to no score and a new card i'd wait 1 year (IMHO) for the next CC application. Yes, you may now have a score but you won't have any depth behind that card. You will need to let this card age. Patients is a virtue.

Updated Feb 2023:
Citi Double Cash: $26,300
Citi Costco: $33,800
PenFed Power Cash: $50,000
Chase Freedom Unlimited: $33,400
NFCU Cash Rewards: $29,000
BoA Unlimited Cash: $99,900
Wells Fargo Active Cash: $50,000
Citi AAdvantage Executive: $30,500
Wells Fargo Mortgage 30yr fixed 3.625%

Business Cards:
BoA Business Advantage Unlimited Cash: $8,000
Chase Ink Business Unlimited: $75,000
Chase Ink Business Unlimited: $75,000

RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel | Cap1 QS | AMEX Gold | BoA Custom Cash | Lowes | Barclays Aviator Red

Anonymous · ‎09-23-2019

Thanks for the greetings!

Yeah, I'm just waiting at this point. Probably will try and apply for a Amex BC or Chase FU in a few months from now. Just counting down the time and making on time payments with 1%-5% utilization. I dont think its worth me applying for another credit card right now as you said, because I'd probably just another low CL.

AllZero · ‎09-23-2019

Congratulations on your CLI! Soft pull CLI intervals are 91 days. Try 3x current limit again or higher. Once some history is established, BoA is also known to counter if request is too high.

Anonymous · ‎09-23-2019

Thanks for letting me know what the CLI intervals are. Do other banks have lower intervals for inquiries or are they all around 70+ days? And yeah I should have requested at least 3,000... next time I'm going to ask for 4500...

SEAlifer · ‎09-23-2019

AU

AllZero · ‎09-23-2019

@Anonymous wrote:
Thanks for letting me know what the CLI intervals are. Do other banks have lower intervals for inquiries or are they all around 70+ days? And yeah I should have requested at least 3,000... next time I'm going to ask for 4500...

Each lender has a different policy.

With BoA if you didn't get a counter offer, it usually means you left money 💰 on the table.

ETA $4500 sounds reasonable. $5000 to make it an even number.

M_Smart007 · ‎09-24-2019

Congrats!!

gdale6 · ‎09-24-2019

Grats on the CLI and welcome to myFico

If you still have the CLI button showing you can request another right now and when you get maxed out on current CLI the request credit line increase goes away until they are ready to take another request from you and it reappears.

Anonymous · ‎09-24-2019

@gdale6 wrote:
If you still have the CLI button showing you can request another right now and when you get maxed out on current CLI the request credit line increase goes away until they are ready to take another request from you and it reappears.

Is that true? I got an increase maybe 45 days ago and I don''t think the CLI button ever dissapeared despite not getting the full amount I asked for. Should I go for it or is the fact that it is still there not indicative of my chances of success?