Hol-eee $@#*. BofA CashRewards. CLI to $59,000!!!!

[Anonymous]

Wow! 

Bank Of America really likes my profile for whatever reason. They approve auto loans with no issues, constantly bug me for mortgages, etc.

Scores are 750 across the board. 2% util, about 15 accounts opened within the past 4 years. All credit lines are over $10k.

I upped by BofA card when the "Request credit limit increase" button became available a few months ago. This got me to $42,500 (which I thought was pretty neat).

Today, the "Request credit limit increase" button popped up again. I said, eh, what the heck.

It asked for desired limit. I put in $65k.

Wheel spun for a few, came back as approved. Counter offer of $59,000!

What a freaking mega limit! Never thought I would get to this point in my credit journey.

Will I ever use the high limit? Never. I figure it will help build my file, show other creditors that I can manage my credit quite well, be responsible, etc.

[Anonymous]

Awesome approval!

Now for the bad news... Unless I am mistaken (possible), FICO scoring generally does not consider credit lines above $45k...which means you've actually lost $42,500 of available credit for utilization padding.  Watch your score carefully over the next few weeks.

[austinguy907]

Looks like someone has some CL's to update in their signature  You still have BOA listed at 20K and if your others have followed suit you should have a massive signature!

[dbw79]

Wow. That's one heck of a credit line. Congrats! Out of curiousity, did they ever ask for POI on your climb up to $59k?

[AverageJoesCredit]

Welcome to Fico Legend status

[kevinjjc]

I believe there are some version of FICO that does not factor balances or limits into revolving utilization for any credit card limit of $50k and above.

[mdd0214]

That's awesome! BOA has been giving out massive CLIs for me too. I constantly get long term 0% BT offers too so I've used that card to defer some balances without using up much of the util. 

[Anonymous]

Is that a fact on the FICO scoring? If so, that sucks!

Unless maybe this turns into a hidden tradeline?

[enerey]

Congratulations! That is an awesome limit! When you asked for an increase is that a hp or a sp? I received my BOA card 3 months ago and would like to ask for an increase.  Thanks

[Ysettle4]

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@Anonymous wrote:

Awesome approval!

Now for the bad news... Unless I am mistaken (possible), FICO scoring generally does not consider credit lines above $45k...which means you've actually lost $42,500 of available credit for utilization padding.  Watch your score carefully over the next few weeks.

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Not quite. FICO 8 and above include in it's calculations credit lines that high. It is only the older models like FICO 98 that can't account for anything above $34K in which it would exclude and therefore, might lose points - depending on the overall util.

The breakdown is:

FICO 98 - nothing higher than $34K~

FICO 4 - nothing higher than $49K~