BOFA Credit Limit Increases/ How to avoid CLD

[Jazzytimes]

After our honey moon in 2006, we onwed bofa $3600 on a $4000 CL.@ 21%

Spent 2007 making $150 payment per months. at that time I had no knowledge on how to handle credit cards properly. they payment was not enough so i started paying $200 a months. I sold a car and mde a $1000 payment. after a few months, we went back to 3000. this is killing me. fast forward to Dec of 07. i paid off our wedding ring. Wife and i got our income tax returns + year end bonus totalling 7500 paid off bofa and two other cards. I really wanted to used the as a deposit on a house. wife said it would be best to pay off the cards and raise money for house. so I did.

anyways, after paying off bofa I went online and raised the CL to $7000 and lowered interest to 12.99% in April

then I called and requested to do a balance transfer and requested another CLI $15000 in mid May

Today I called for another CLI since we owe $6000 on the card. He raised it to $18000

I am through ask for CLI and will not use the card till I pay off the balance.

How do I keep from getting a CLD? What sort of behavior is bofa looking for. I would like  to keep our  18k?

[thrasher865]

It sounds like with a spending history with them like you just described, just keep making payments well above the minimum and you should be fine.  If they've seen you spend big amounts in the past and paid responsibly, they should be comfortable with your current balance.

[Anonymous]

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@thrasher865 wrote:

It sounds like with a spending history with them like you just described, just keep making payments well above the minimum and you should be fine.  If they've seen you spend big amounts in the past and paid responsibly, they should be comfortable with your current balance.

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I agree. Demonstrating to them that you can handle paying off large balances with them regularly should probably go a ways with BOA.

By the way, how are your balances and limits with your other creditors? BOA will soft you frequently, and will be quick to UD you if you are carrying large balances with other creditors.

[Jazzytimes]

thanks everyone. yes, we've been very responsible with the account. on time payments every time, paid more than the minimum balance due. Now I see why I was able to get 14,000 in three months. has anyone here ever had their credit line decreased by bofa and why?

[Anonymous]

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@Jazzytimes wrote:
thanks everyone. yes, we've been very responsible with the account. on time payments every time, paid more than the minimum balance due. Now I see why I was able to get 14,000 in three months. has anyone here ever had their credit line decreased by bofa and why?

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I haven't had it happen to me personally, but I've read several posts by members about being UD'd by BOA due to balances with other lenders.

[tonsers]

I've carried large balances with BofA and they've never CLD'd me. I took the good part of a year to pay off almost $20K - they still raise my limit. I'm all paid off now - and I actually got a hand written letter asking if they can do anything else to serve me - money markets, IRAs, etc... BofA rocks!