I have 4 credit cards with BOA and each card has a CL of ~2-12k (total CL~31k). Since CLI request typically does not end to a HP, I would like to know whether there are some rooms to request a CLI on some of my cards. I carry almost no balance, Fico8~810+. I routinely use those cards and I do PIF in each month. Here are some questions:
- Is there a maximum limit on a CLI request for each card? Is there a limit on the total CL that I can have, without a financial review?
- How frequently may one person request CLI (e.g. once per 6 months?)?
- Does it require unlocking the credit report across three credit bureaus?
Fico8: EX~EQ~TU~840 (12 month goal~850).
@xenon3030 wrote:I have 4 credit cards with BOA and each card has a CL of ~2-12k (total CL~31k). Since CLI request typically does not end to a HP, I would like to know whether there are some rooms to request a CLI on some of my cards. I carry almost no balance, Fico8~810+. I routinely use those cards and I do PIF in each month. Here are some questions:
- Is there a maximum limit on a CLI request for each card? Is there a limit on the total CL that I can have, without a financial review?
- How frequently may one person request CLI (e.g. once per 6 months?)?
- Does it require unlocking the credit report across three credit bureaus?
- I'm unaware of a max# of CLI requests. I do know that I've only received another CLI on a card 91 days or more after the last one
- I've been successful every 91days
- I've got a freeze on my reports and have been able to get a CLI with the freeze in place
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(+151)Tnx. I requested 22k to almost match the CL to one of my best cards from another lender. I will receive a written decision within 10 biz days. Fingers crossed 
@xenon3030 wrote:I have 4 credit cards with BOA and each card has a CL of ~2-12k (total CL~31k). Since CLI request typically does not end to a HP, I would like to know whether there are some rooms to request a CLI on some of my cards. I carry almost no balance, Fico8~810+. I routinely use those cards and I do PIF in each month. Here are some questions:
- Is there a maximum limit on a CLI request for each card? Is there a limit on the total CL that I can have, without a financial review?
- How frequently may one person request CLI (e.g. once per 6 months?)?
- Does it require unlocking the credit report across three credit bureaus?
For most, $99,900 is the most you can have with BoA across all cards. With enough income, wealth, and investments some have broken that barrier, but I think that's done on a case by case basis with a manual review.
You can request a CLI anytime, but I think 91 days since the last CLI is the minimum before they'll approve another. This may also vary depending on profile. It might be 6 months.
In the past some have said they had to unlock/unfreeze TU, but I got a CLI from them last August with my reports frozen.
Also, though you didn't ask, I'll mention that the amount you ask for has no bearing on whether you're approved or not. If they don't want to give you what you asked for, they'll give you a lesser amount.
@xenon3030 - the 10D message his meant a denial for me.
Another interesting DP about BoA CLI requests - you can and should request MORE than what you want. If they don't want to give you that amount, they'll counter with a lower amount.
Based on DPs I've read on the boards (Credit Card Applications & Credit Card Approvals), I typically request 99K. They grant me the max that they're willing to part with at that time...but at least I have the assurance that I haven't "left money on the table" so to speak.
Best wishes!
Yesterday, I received an email and surprisingly, it was denial. I should receive a letter, describing the reasons within 10 biz days.
My credit profiles were locked and it might be one of the reasons. Let's see what the letter says...
@xenon3030 wrote:Yesterday, I received an email and surprisingly, it was denial. I should receive a letter, describing the reasons within 10 biz days.
My credit profiles were locked and it might be one of the reasons. Let's see what the letter says...
You mentioned you already have a total of $31K in CL with them between your cards? Could be you've received the maximum they are willing to give for now. It would be interesting to see what the reaon is in the letter. Usually if all other factors are good; they would counter and offer you a lessor amount.
I wanted to add this DP as well - I just received a CLI which was a counter-offer. They mailed me the advere action notice as to why they didn't grant my full request, and it was because they amount requested exceeds or meets the maximum allowed, for me. It was right about half my income so based on other posts I've seen, seems to track.
When I requested my CLI 6 months ago, I entered 50,000 (knowing I wouldn't get it) and got 6,800. And the letter saying the amount "exceeded the maximum allowed" or whatever they say. Basically, they just gave you what they wanted to give you at the time.
50% of your annual income is a commonly reported cap with BoA, though there are exceptions. In my case, it was probably my past spending history and not having had a high limit card with them for years that constricted my particular CLI maximum.
Now that it's been 6 months, I should ask to bump it up to $7,000 to make it even. Or $8,000 but I don't even need $7k on this card.
I received the denial letter, citing that the decision was based on recent balance/credit trends and the relationship to BOA and affiliates. It seems that they used the prior SP data from TU and the credit lock was not an issue.
I guess, to get a CLI, it is better to have a premium tier with them (I lost my preimium tier status some months ago). Also, I am not sure their comments on recent balances and credits. Doing PIF or spending ~1k/month while having ~12k credit line might not be an optimum plan from their view. Anyway, these are my guesses. Please inform if you have recommendations on the ways to get CLI.
PS: I see whether I can move some of my stocks from Etrade or the other brokerage accounts to ML to hit the minimum asset of 20k to gain the Gold tier.