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Congrats on the approval!
Before jumping to those conclusions, give them a call and see if they can raise it.
Explain to them you have a larger than 1K BT you want to perform and you also
want to keep your utility in check.
I do not think you would have to mention about your history with them, as they already approved.
Now if all else fails, check your online account and normally in red there is a link to raise your limit.
Monster thread on the BOA cli soft pull, i think it is 3 month in between, but not sure on first.
After then you may decide to try other thangs, but i dont think the 20 BT will fly by them without questioning,
since your account may be under watch....unsure on that but can only assume.
hth, good luck
I have always wondered, but OP made me even more curious. Do creditors record when their balances are paid off via a balance transfer? Might be a valuable data point to a creditor. Is it possible blanace transfers are also tracked in some qualitative way by the new creditor?
I miss the days I didn't care about this stuff.
@mikesonthemend wrote:I have always wondered, but OP made me even more curious. Do creditors record when their balances are paid off via a balance transfer? Might be a valuable data point to a creditor. Is it possible blanace transfers are also tracked in some qualitative way by the new creditor?
I miss the days I didn't care about this stuff.
I supposed if a creditor were really motivated they could take a 'deep dive' on one's credit reports and determine if a BT was likely used, but generally speaking when a BT is done the card that is paid off treats the payment just like any other.
FWIW I've done plenty of BTs over the years (for better or for worse) and I've never had a problem.
@Anonymous wrote:Congrats on the approval!
Before jumping to those conclusions, give them a call and see if they can raise it.
Explain to them you have a larger than 1K BT you want to perform and you also
want to keep your utility in check.
I do not think you would have to mention about your history with them, as they already approved.
Now if all else fails, check your online account and normally in red there is a link to raise your limit.
Monster thread on the BOA cli soft pull, i think it is 3 month in between, but not sure on first.
After then you may decide to try other thangs, but i dont think the 20 BT will fly by them without questioning,
since your account may be under watch....unsure on that but can only assume.
hth, good luck
The 'Request a credit line increase' hyperlink is blue, not red. You're correct that emperially based on DP reported it most often reappears after 3 months, although I know from personal experience that isn't always the case. I've had them reappear within 2 weeks.
One has to keep in mind that the link's appearance doesn't mean that you are eligible for a CLI, only that the bank considers you eligible to *request* a CLI.
I would call ASAP and ask for a reconsideration of the credit limit because you want to use it make a balance transfer. Be prepared to tell them the amount of the planned BT.
I would question why someone would be so cruel when you can just pay the original creditor and the debt would be wiped out. Also you will not be able to do BT's every few days as Bank of America will stage the payments. It takes about 1-3 weeks for a set of BT's to be completed. Maybe it is me but I am having a hard time understanding why you would want to be so overly complicated just to show spend to a bank that does not care about it.
@Iambecomedeath
Bank of America is a relationship bank and what you describe is close to what would take to get them to help you. You admitted that in the past you had issues with BoA. The bank also agrees but has regardless both allowed you back in and gave you an elevated SL under slow CL start. BoA usually hands out 200-800 SL's for customers that have no current relationship with higher scores given higher SL. I remember starting with them at 200, 300, or 600(long ago). If you wish to build the relationship you will need to use the card like normal over a length of time charging a little bit even at no rewards due to the card you chose. BoA is tolerant of utilization on their BT cards and really is only after the money of businesses. They want you in and spending(swiping or dipping) not holding a set of BT's.
@xaximus
Bank of America will not care how many he does as long as he does not go past his credit line. I have had 12-24 BT's on my Bankamericard all in the 60 days because of all the cards that I have at other banks. The only hiccup was that a BT specialist called to confirm that what I had requested was valid since some BT's were a second transfer to some cards. Since it was near the end of the 60 days by then they also agreed that any BT that was requested in the 60 days that was reprocessed after the period ended, like the confirmed ones, will have their fee's waved if they are charged. 2 fees were charged but without a call a credit was applied.