BOA CLI Cash Rewards

Anonymous · ‎07-29-2019

Hello all, first time poster LONNNGGG time reader.

When I first started gardening the disaster of a credit score of mine my scores were ranging from 480-505 between the three bureaus back in 2016. Yikes! I know, FEDLOAN hit me with 108 late payments within 6 months to my credit report. I have since fixed most of THEIR error. The first card I got was a secured discoverIT for $300 SL and then a BOA secured 321 cash rewards with $300 SL. Since then both DS (Nov 2017) and BOA (Jan 2018) have unsecured (Discover now at 1,000 and BOA at 300 STILL). I have had BOA now for 2.5 years, always PIF and I ran any where from $100-500 a month making multiple payments and NEVER carrying a balance. I also have both checkings and savings account through BOA. I have requested CLI's from them probably 5-6 times and been declined each time with different reasons why such as "recent deliquency" which the only 'recent' deliquency on my report is from 2015 and it's a $0 balance. (like i said, FEDLOAN has been fixed).

I've tried backdoor numbers and all kinds of different things to try and get someone in charge that is willing to look at my account and each time I am denied saying there is no such thing as a manual review. Does anyone have any tips on what i should try next? a $300 limit is a SLAP in the face when I've been banking with them exclusively for 6 years.

About my CR:

Income: $70,000

Baddies: 1 with a $0 balance, and 1 with a $244 balance from 2013 (capital one).

Revolving credit: DiscoverIT ($1000 CL) AmexGold Delta ($1000) CapitalOne Quicksilver ($4100) Comenity Overstock ($3800) Amazon Synchrony ($2000) CFNA ($2,800) utilization for this month is under 20% due to a finance promotion with overstock.

My total credit limits total $15,800 (also have two other store cards I don't use)

TU: 715 EX: 679 EQ: 680

I was recently offered a Chase Sapphire Prefered with a SL of $8000 and have not accepted due to still wanting to garden a bit more, not sure that the travel points are the best for me at this time. The reason I even mention that offer is because obviously someone sees my worthiness. I really want to focus on growing both BOA and Discover and neither will move so I will actually love to take any input on either of these.

mikesonthemend · ‎07-29-2019

Have you considered starting a new banking replationship with another institution? Perhaps a smaller or regional bank. If you really want a big bank, perhaps give Chase a try. If they will approve you for Saphire they will approve for Freedom.

When they turn you down, you always have the ability to turn them down too.

Living through Darwinism is so much worse than learning about about it in school.

M_Smart007 · ‎07-29-2019

Welcome To myFICO Forums!!!

"I've tried backdoor numbers and all kinds of different things to try and get someone in charge that is willing to look at my account and each time I am denied saying there is no such thing as a manual review. Does anyone have any tips on what i should try next? a $300 limit is a SLAP in the face when I've been banking with them exclusively for 6 years."

You have more patience than I. I personally would find another Bank to give my Bus.

as mentioned upthread.

Anonymous · ‎07-29-2019

Congrats on the work you've put in so far!

$300 w/ BOA? Started as a secured card. Ok.... so it may or may not grow. Depends on how it's coded in their systems.

If you're pre-approved for Chase $5K+ then go for that NOW and then come back to BOA when you have a fighting chance with a higher limit reporting.

Once it's reporting then start fighting with BOA... pull your deposit accounts and move it to a CU where you can easily get 2.5% APY on checking/savings vs 0.01%.

Call the SR UW # in the backdoor thread in "applications" and see if they'll budge on the CL... if not, close it out. Wait a little bit and then go back to the trough and score an unsecured card with them that will grow.

Anonymous · ‎07-30-2019

That card is bucketed. Same thing happen to me... if you want a higher limit you have to apply for another card with them. Now that your score is better you will have a better limit...bucketed cards almost never grow... only reason mines not closed right now is because it’s my oldest card

AverageJoesCredit · ‎07-30-2019

$300 secured card when you needed it but wont grow means its bucketed. Dont feel insulted, it is what is is. With your scores snd income, just spply for a new Boa cc. You might be suprised. Question, how were you " offered " a Chase CSR at 8k? Those cards are minimum $10k and how would you know your limit beforehand? Thanks.

Anonymous · ‎07-30-2019

@AverageJoesCredit wrote:
$300 secured card when you needed it but wont grow means its bucketed. Dont feel insulted, it is what is is. With your scores snd income, just spply for a new Boa cc. You might be suprised. Question, how were you " offered " a Chase CSR at 8k? Those cards are minimum $10k and how would you know your limit beforehand? Thanks.

Sorry, I changed my post.. I meant to say Chase Sapphire Preferred! I logged into my Chase Credit Journey (their free credit monitoring) and saw the offer. i read through the terms and had a single interest rate (24.9 - yuck) so I continued through the application and as I typed in my full social and confirmed my information I read the "updated" terms and it said $8,000. I tried this again to screen shot because someone else mentioned this happen to them but it didn't give me any $ amount. Could have been a fluke but I'll take the sneak peak !

I have zero inquiries so they didn't even run a HP yet.

AverageJoesCredit · ‎07-30-2019

Ok cool. It seems your current profile is ripe for some great approvals so dont sweat cards that dont grow. They helped establish your current profile so they served their purpose. One thing to add, dont put too much stock in a Chase Apr, they arent known for good apr and becsuse they are reward cards should be pif anyway

Anonymous · ‎07-30-2019

@AverageJoesCredit wrote:
Ok cool. It seems your current profile is ripe for some great approvals so dont sweat cards that dont grow. They helped establish your current profile so they served their purpose. One thing to add, dont put too much stock in a Chase Apr, they arent known for good apr and becsuse they are reward cards should be pif anyway

Oh yes, thank you! I am very aware to not even be concerned with interest rates. Learned my lesson long ago (hence the sub 500 scores I was surprised with!) However, one thing i have seen over and over on my adventure of exploring credit hacks - if your card offer is on the maximum of a creditors “range” .. for instance if a credit card APR range Is 17-26% and you’re given 26% APR .... that is a red flag that the applicant (you) is viewed by the creditor as low-risk but still sub-prime. Meaning CLIs and other perks may be harder to achieve.

Anonymous · ‎07-31-2019

BoA is doing something similar to me. I have been banking with them for years (since high school)! No issues. I started my rebuilding with them when they offered me a BoA “Platinum” BankAmericaCard secured at $300. I used it then Would let 5% util report then paid in full. After about 8mths or so, I got an auto CLI to $2k. Now it seems like I am bucketed then again I was using it heavily for mths since it was my only cc. I got denied for a CLI. And I was charged an AF of $39. I called CSR and was told they couldn’t waive the fee because it’s in my T/Cs. The exact same card is on their website with no annual fee. And I cannot PC it into anything else! I would close it if I could but its oldest acct and there’s a 2 yr gap btwn it and the 2 new cards I just got. I’m going to put it away and not use it. Maybe only have a Netflix charge show up.