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BoA to stop HPs for CLI’s

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Re: BoA to stop HPs for CLI’s


@MaizeandBlue wrote:

@Ktspicks wrote:

Soft pull? Did they require income verification forms? 


BoA stopped doing hard pulls for CLIs sometime in the middle of 2018.

 

I've never been asked for income verification by any of the major lenders like Amex, BOA, or Chase and I have multiple credit lines and substantial exposure with Amex and Chase.  The only lender that has ever asked for paystubs was Baxter Credit Union (BCU) and I ignored them and they still approved me for $25K.  BCU was also the toughest app I've ever made; it was a manual approval and I spent over 30 minutes on the phone with an underwriter as she went over every line of my credit report.


Monday the 21st of May to be exact.  My only scoreable inquiry on TransUnion is from just a few weeks prior, which was of course from a BoA CLI request which I likely complained about early on in this thread.  Smiley Wink

 

PenFed asked me for IV when we refinanced DW's auto, which was odd since the value was about twice what we owed and they had already given me a credit card without asking.  NFCU asked me for IV when I applied for my Flagship Rewards card "due to unusually high reported income."  I was flattered but it's not that much, and I've seen people with a fraction of that income automatically approved for the same $24k starting line.  <shrugs>  Amex asked me for a 4506-T when I tried for something nearing $100k on my Starwood card last year.

 

I wouldn't expect BoA to ever ask since they are our primary checking account and obviously the computer sees direct deposits supporting our reported income.  That BCU app sounds fun, @MaizeandBlue!  LOL  I've had interrogations conversations with Chase analysts like that.


Message 771 of 955
Valued Contributor

Re: BoA to stop HPs for CLI’s

B of A just gave me a bit more love on my Rewards card.  Smiley Happy   I was at a tiny $700 CL with them for about 6 years, because when going through very ugly financial times in 2011/2012, I had to settle with them on another account (they lost about $10K in that settlement).  Through that issue, they lowered this account to $700.  I know I was lucky they didn't close the account.  

 

When I read about them going to SP's, I put in a request for $5K and it was approved.  About 90 days later I request $12K and got it.  Today, I put in a request for $24,000, but was only approved for $21,600.  I am still extremely satisfied with this CL, since I did the settlement with them years ago.   It seems that they are fairly forgiving with good behavior.  Smiley Happy

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Sept 2019: EX8: 850; EQ8: 850; TU8: 850 -- Middle Mortgage Score: 821
In My Wallet: Discover $73.7K; Cap1 Venture $39.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $16.5K; Cap1 Plat $8.4K; Barclay $7K; BoA Plat $21.6K; Citi TY Pref $19K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $270K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 772 of 955
Regular Contributor

Re: BoA to stop HPs for CLI’s

Wow major props! 🤗

805 Equifax, 815 TransUnion, 792 Experian

$30,000 Savor Capital One
$29,000 Boeing Employees MasterCard
$18,000 Synchrony Care Credit
$17,000 Boeing Employees CU Visa
$15,000 US Bank Cash Plus Visa
$14,000 Bank Of America World Cash Rewards MasterCard
$14,000 Platinum Visa Columbia Bank Auth User
$14,000 Best Buy Citi Card
$13,500 American Express Blue Cash Everyday
$10,000 Propel Wells Fargo Amex
$9,500 Bank of America Visa
$1,000 Maurice’s Capital One

Total personal CL’s $155,500
Message 773 of 955
Highlighted
Regular Contributor

Re: BoA to stop HPs for CLI’s

My 99/500 can't get any love. Tried to get it unsecured and CLI and get dinged for inquiries too many and short credit history. Discovery just unsecured me so will use that more. Bank with bofa but get no love there
Fico 8 Exp 598 Transunion 598 Equifax 596 (7/18/18)
FICO 8 Exp 609 TransUnion 622 Equifax 617 (8/10/18)
FICO 8 Exp 643 Equifax 641 Transunion 655 (9-10-18)
FICO 8 exp 630 Transunion 646 Equifax 627
Fico 8 Exp 646 Transunion 639 Equifax 640 (11/1/18)
Fico 8 Exp 698 Transunion 716 Equifax 690 (1/8/19)
Message 774 of 955
Regular Contributor

Re: BoA to stop HPs for CLI’s


@Bostonito wrote:

Just used the "request CLI" link in online banking and got the message "You will receive a written decision in 7 to 10 business days." Smiley Sad From what I read on the forum this is most likely a denial.

Had an existing CL of $400, asked for $5,000, figuring I would get a counter-offer anyway. Maybe it has to do with not being an US citizen and only having limited credit history. Income and savings in my BoA accounts speak for me.


How much history you have with this card? Sorry about that denial :/

Data points you would like to share so others can help you out why they denied you?

That part where you said not being a US citizen can'y be true because that is discrimination.


Message 775 of 955
Regular Contributor

Re: BoA to stop HPs for CLI’s

Just bit the bullet and requested $25,000 on my $12,500 3-2-1 card.  They countered with $21,300 (+$8,800) and no HP yet...let's hope it remains that way.

 

 

 

Garden Until Jan 2021


Total Credit Line: 135K Inquires: TU 3 | EX 3 | EQ 2
Starting Score: TU 690 | EX 694 | EQ 694 [01/20/12]
Current Score: TU 797 Fico 8 | EX 805 Fico 8 | EQ 778 Fico 8 [4/26/19]
Goal Score: 790 across all 3


Take the myFICO Fitness Challenge
Message 776 of 955
Established Member

Re: BoA to stop HPs for CLI’s


@Bostonito wrote:

Just used the "request CLI" link in online banking and got the message "You will receive a written decision in 7 to 10 business days." Smiley Sad From what I read on the forum this is most likely a denial.

Had an existing CL of $400, asked for $5,000, figuring I would get a counter-offer anyway. Maybe it has to do with not being an US citizen and only having limited credit history. Income and savings in my BoA accounts speak for me.


To follow-up, the letter BoA sent me said:

"We are unable to approve your recent credit request on the above referenced account for the following reason or reasons:

The amount of credit extended to you by us and/or our affiliates is sufficient."

Well, personally I don't think that $400 is sufficient to buy much more than groceries and fill up gas but it's BoA's loss that my regular airfare and the bigger purchase from time to time go to my AmEx Gold (where I have a SL of $10,000).

Nevertheless I have to admit I have not been using the BoA CC a lot anyway since I got the AmEx end of November. Before I had put more than $400 on the card in certain months and paid the balance before the statemend closed.

Message 777 of 955
Established Member

Re: BoA to stop HPs for CLI’s


@TheBrownDaredevil wrote:

@Bostonito wrote:

Just used the "request CLI" link in online banking and got the message "You will receive a written decision in 7 to 10 business days." Smiley Sad From what I read on the forum this is most likely a denial.

Had an existing CL of $400, asked for $5,000, figuring I would get a counter-offer anyway. Maybe it has to do with not being an US citizen and only having limited credit history. Income and savings in my BoA accounts speak for me.


How much history you have with this card? Sorry about that denial :/

Data points you would like to share so others can help you out why they denied you?

That part where you said not being a US citizen can'y be true because that is discrimination.


The BoA (secured) CC was my first CC when I moved to the US around 9 months ago. No former credit history, start from scratch, hence also no negative entries. Deposit $300 for the secured card.

Got an auto-CLI from $300 to $400 end of October.
Called and asked it to be unsecured end of November and they did at the beginning of December, got my $300 back.
At the time I had used it as my sole deposit account for my pay and had around $15k combined in checking and savings. I currently still have roughly that money in the accounts and get my pay there, but deposit is at a lower amount since I split the pay with a Chase checking account.

Current scores: 726 TU FICO8, 714 EX FICO8, 736 EX FICO9. No clue about EQ.

Message 778 of 955
Moderator

Re: BoA to stop HPs for CLI’s


@EW800 wrote:

B of A just gave me a bit more love on my Rewards card.  Smiley Happy   I was at a tiny $700 CL with them for about 6 years, because when going through very ugly financial times in 2011/2012, I had to settle with them on another account (they lost about $10K in that settlement).  Through that issue, they lowered this account to $700.  I know I was lucky they didn't close the account.  

 

When I read about them going to SP's, I put in a request for $5K and it was approved.  About 90 days later I request $12K and got it.  Today, I put in a request for $24,000, but was only approved for $21,600.  I am still extremely satisfied with this CL, since I did the settlement with them years ago.   It seems that they are fairly forgiving with good behavior.  Smiley Happy

 


That's awesome.  My (now closed) BankAmericard also went from $12,000 to $21,600 - it's unlikely that you're actually capped out for good.  Congratulations on the great comeback!


Message 779 of 955
New Contributor

Re: BoA to stop HPs for CLI’s


@MaizeandBlue wrote:

Increased to an even $50K this morning.  Hopefully now I'll start getting those @K-in-Boston benefits Smiley Happy

 

2019-01-05_07-32-06.png


Congrats on the $50k. That's exactly what I intend to go for in a couple month's time with both my BofA cards. They're both at $40k each per the screenshot below. Something I noticed is that it looks likes the cash credit line is not standard based on a person's total credit line (i.e. your $50k CL and $5.6k CA vs my $40k CL and $12k CA). I'd never used a CA unless it was a last resort of desperation anyways, but interesting to know.

 

Capture.PNG

Chase Sapphire Reserve 34K | Chase Freedom Unlimited 28K | Chase Amazon 25K
Chase IHG 8.5K | Chase Freedom 5K | Chase Sapphire 3K
Bank of America Cash 40K | Bank of America Travel 40K
AMEX Everyday 25K | AMEX Delta 13K | AMEX Blue Cash Everyday 2.62K
Citi Rewards Plus 27K | Citi ThankYou Premier 18.7K
PenFed Pathfinder 5K | PenFed Platinum 5K
City National Bank Crystal Visa 15k
TD Cash 14K | Uber Visa 13K | USBank Cash+ 10K
Wells Fargo Cash Wise 6.5K | Discover IT 5.2K
Overstock 13K | Target RedCard 2.5K | Victoria Secret Angel 1K | LOVE LOFT .25K
BP Visa 5K | Walmart MC 3.3K

08/18: TCL 246.95K | AoOA: 18Y | AAoA: 5.0Y || TU: 820 | EQ: 823 | EX: 815 || INQ - TU: 3 | EQ: 3 | EX: 7
09/18: TCL 316.57K | AoOA: 18Y | AAoA: 3.4Y || TU: 808 | EQ: 812 | EX: 786 || INQ - TU: 6 | EQ: 5 | EX: 10
10/18: TCL 347.45K | AoOA: 18Y | AAoA: 3.2Y || TU: 802 | EQ: 803 | EX: 773 || INQ - TU: 5 | EQ: 5 | EX: 11
12/18: TCL 386.95K | AoOA: 18Y | AAoA: 3.1Y || TU: 805 | EQ: 813 | EX: 769 || INQ - TU: 5 | EQ: 4 | EX: 10
03/19: TCL 389.45K | AoOA: 18Y | AAoA: 3.3Y || TU: 811 | EQ: 809 | EX: 799 || INQ - TU: 5 | EQ: 5 | EX: 10
Message 780 of 955
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