@Cory88 wrote:I know that I was asking when is not new accounts for BOA in length of time? I'm talking like 6m of time or 12m or like Chase when it's two years if over 5 accounts, that is my question.
Bank of America has no set policy on this; the weight of new accounts will vary by an individual's profile. For some of us, 5 cards in the past 3 months might not be an issue with BOA due to profile and/or relationship. For others, 2 cards in year might be a deal-breaker.
I agree that BOA doesn't have any set policies in regards to cli. i currently have the cash rewards card for 10 months. the initial limit was 5500.6 months later the luv button appears on my account so i did my thing and i got $2000 increase. 3 mts later it appears again and i did my thing.This time i got denied because the letter says my account is new and it has not been a year yet
Last week it appears again and i did my thing and this time i got 2500 increase.
The lesson that i learned is that the luv button looks very appealing when it shows up.
@Cory88 wrote:
@Anonymous wrote:
@Cory88 wrote:I applied for a CLI with BOA and they said no because of too many new accounts, I have 5 new accounts opened Mar 2020. TU FICO 783 as o the letter. What is not new accounts in BOA eyes? The account has been open since 2007.
If you have actually opened five (5) new revolving accounts since March 2020 then the reason for the CLI denial is self-explanatory.
You were not denied because you had a Bank of America account since 2007. Rather, you were denied because you've recently opened 5 new accounts; effectively you have gotten 5 CLIs from other lenders.
I know that I was asking when is not new accounts for BOA in length of time? I'm talking like 6m of time or 12m or like Chase when it's two years if over 5 accounts, that is my question.
There's no definitive number in regards to your question just as kiB said that it can be profile and relationship specific. The best way is to follow the old tested rule of 1in1, meaning 1 acct in 1 year. You almost won't get denied in any app if you go by barring any derog in your file of course.
