Any recommendations on how long to wait before requesting a CLI? I just opened my BOA AGR card about two weeks ago. I've put all my bills for this month on there (will be paying off in the next day or two.) Originally noticed about a week ago no CLI link had appeared. Logged in last night and see the link is there. Don't wanna be premature in clicking the link so was curious how long one should typically wait after initially opening?
@YoungMoney06 A minimum of ninety-one days after the approval of your account, or ninety-one days after the last credit limit increase. You will be rejected if you make a CLI request before that period has elapsed.
I've posted this info before, but I was able to grow my BofA Cash Rewards card from $2,000 to $85,000 in less than two years by pursuing CLIs roughly every three months:
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
@SoCalGardener Congratulations on your CLI; a very useful card to have.
Congrats on the healthy CLI!
So, question: I haven't had an increase on my card at all since my SL....and it's next on my CLI target list. You're saying that on the online CLI form, you enter the requested amount you want? Do they typically counter-offer if your request isn't to their liking? Or does it straight out deny?
From my experience, online request is a SP and they'll counter offer. Shoot for the moon.
I just went from $25k to $40k on an instant approval. I shoulda asked for more
Most lenders will not approve more than three times the current limit on an account, so the advice to "shoot for the moon" is a bit misguided. While it is true that BofA might counteroffer a lesser amount than originally requested, you're also opening yourself up to scrutiny, income verification, document requests, or even adverse action if BofA determines the CLI request is not supported by your credit profile, income, etc.