Bank Of America Secured CLI??

[andersk08]

Just logged into my Bank Of America account to pay my credit card bill and for the first time I see a "Request CLI " option. Thoughts? Anyone have experience getting a CLI on their secured card? Looked in my checking and my deposit has not been refunded unfortunately. 

[Anonymous]

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@andersk08 wrote:

Just logged into my Bank Of America account to pay my credit card bill and for the first time I see a "Request CLI " option. Thoughts? Anyone have experience getting a CLI on their secured card? Looked in my checking and my deposit has not been refunded unfortunately. 

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Apply for CLI if they give it to you your deposit should be refunded and your credit line increased. How long have you had the card?  When I had BOA 99/500 card my Request CLI came up at 5 months. It went under review and at the end of the day I had my 99 dollars back my limit had increased to 1000 dollars. 

[andersk08]

I’ve had it for 3 statements. I went ahead and requested it. I have a 500 limit now. In the area where it asked what I wanted to increase my limit to I put in 1000. Then under that was a section that said “additional security deposit”. When I entered 1000 into the requested credit limit box it showed 500 in the additional security deposit box. So essentially I would be raising my credit limit 500 by depositing an additional 500. Doesn’t seem like much of a credit limit increase to me if I have to find the entire thing lol. Got my darn hopes up for a second there.

[Anonymous]

Whether it unsecures or not though the problem with BOA is they will HP for CLI.

My mother had it as a starter card. It unsecured around 1 year and they gave her the $99 back but they get you with the yearly fee still attached to the card and try and get you to apply for Cash Awards or something instead so it depends where you want to waste a HP...in her case, she chose a new bank to apply with and got in.

[Anonymous]

If you're willing to do another $100 or so on a secured then look into Discover Secured and Cap1 Secured...or some banks will offer the secured if you're denied unsecured. I did $49 with Cap1 which most people get stuck at $500 with. Discover seems to give better CLs though.

[andersk08]

I have a capital one secured. I put 600 down. It’s at 900 now after the credit steps increase. It’s around 15 months old. Was hoping it would have graduated at a year but it never did. I also have a capital one unsecured card that’s 4 months old. Last night product changed it to a quicksilver. That one will get a credit steps increase in June. Discover continues to decline my applications unfortunately.