BoA Credit Limit Increase

[BullsEye10]

Good Morning:

My wife has a Bank of America Cash Rewards Card with a $2,500.00 limit.

How does BoA do credit limit increases?  Initiated by her?  By the bank only?

What are their criteria?  100% payments on time?  Frequently running up to the credit limit?

Any and all answers / advice are appreciated.

~BullsEye10

[Sevenfeet]

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@BullsEye10 wrote:

Good Morning:

My wife has a Bank of America Cash Rewards Card with a $2,500.00 limit.

How does BoA do credit limit increases?  Initiated by her?  By the bank only?

What are their criteria?  100% payments on time?  Frequently running up to the credit limit?

Any and all answers / advice are appreciated.

~BullsEye10

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You can ask or a CLI online on BofA's website.  If you choose the link to manage your credit card, somewhere on the page is the link to request a credit line increase.  They do a HP.  I got an increase with 95% utilization...so anything's possible (but I do pay my bills on time).

[jsickz32]

I ask for cli on my bofa cards every 6 months by using the online option. Ive never been denied a cli but 99% of the time have been TU HPs.

Every time ive asked ive made sure my balance on that card was 0.

[BullsEye10]

Thanks for the advice 

I went ahead and called over to BoA to speak with one of their reps, and made sure they included my income in the decision even though they pulled her report.

SUCCESS!

Doubled the limit from $2,500.00 to $5,000.00, which is what I requested.

Should I have asked for more?  Now that it is a $5,000.00 limit, should I have it converted to a Signature Card?

Thanks!

[pdog661]

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@BullsEye10 wrote:

Thanks for the advice 

I went ahead and called over to BoA to speak with one of their reps, and made sure they included my income in the decision even though they pulled her report.

SUCCESS!

Doubled the limit from $2,500.00 to $5,000.00, which is what I requested.

Should I have asked for more?  Now that it is a $5,000.00 limit, should I have it converted to a Signature Card?

Thanks!

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Siggy won't (most likely) report the limit..... I converted back.

[navigatethis12]

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@BullsEye10 wrote:

Thanks for the advice 

I went ahead and called over to BoA to speak with one of their reps, and made sure they included my income in the decision even though they pulled her report.

SUCCESS!

Doubled the limit from $2,500.00 to $5,000.00, which is what I requested.

Should I have asked for more?  Now that it is a $5,000.00 limit, should I have it converted to a Signature Card?

Thanks!

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Yes you should have asked for more. They will counter if they cannot give you what you ask, but they will give higher limits pretty quickly. I see no real benefit to converting to the signature card, but there is no harm.

[Anonymous]

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@pdog661 wrote:

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@BullsEye10 wrote:

Thanks for the advice 

I went ahead and called over to BoA to speak with one of their reps, and made sure they included my income in the decision even though they pulled her report.

SUCCESS!

Doubled the limit from $2,500.00 to $5,000.00, which is what I requested.

Should I have asked for more?  Now that it is a $5,000.00 limit, should I have it converted to a Signature Card?

Thanks!

---

Siggy won't (most likely) report the limit..... I converted back.

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FWIW, My BoA Alaska Signature reports the CLI to all three CRAs. 

[lg8302ch]

Congrats!  I recently converted mine to a Siggy..took 3 weeks to get PC over and the CL is no longer reporting. So if you did the CLI for util purpose I would suggest to keep Platinum Plus instead of  asking for the Siggy. I went ahead as it does not matter for me in terms of util and my scores will not suffer from losing 5K. 

My CapOne Siggy does report  the CL and from what I read here  BofA it is pretty much the only one not reporting CL on the Siggy.

Hope this help with making your decision.

Cheers

Liliane