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BoA to stop HPs for CLI’s

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Senior Contributor

Re: BoA to stop HPs for CLI’s


@user444555 wrote:

 

 

I have heard different things about what will happen if you ask for too much of an increase.  Does anyone know what will happen if I ask for $5k more but they will only approve $3k?  Will they decline and make me ask for less or will they just approve the lower amount?

 

Thanks everyone. 


If you ask for more than they're willing to approve they will counteroffer with the amount that they are in fact willing to approve, it's not an all-or-nothing senario. 

 

 

 

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$800K+ club
Message 961 of 974
Frequent Contributor

Re: BoA to stop HPs for CLI’s


@coldfusion wrote:

@user444555 wrote:

 

 

I have heard different things about what will happen if you ask for too much of an increase.  Does anyone know what will happen if I ask for $5k more but they will only approve $3k?  Will they decline and make me ask for less or will they just approve the lower amount?

 

Thanks everyone. 


If you ask for more than they're willing to approve they will counteroffer with the amount that they are in fact willing to approve, it's not an all-or-nothing senario. 

 

 

 


ColdFusion is corret - you get as much as they were willing to give you....you also get a decline letter since they didn't give you all you asked for.....  Which is what happened when I first hit the luv button....

 

Or you can be like me on my second time around and ask for too little and get approved for what you asked for and know you left CL on the table....oooouch.

Stay Liquid My Friends...


Starting Score: F8 3xx
Current Score: F8 802
Goal Score: F8 800


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Message 962 of 974
Senior Contributor

Re: BoA to stop HPs for CLI’s

I need a bit of advice.  As some of you might recall I grew my BofA Cash Rewards card to $85K in July.  Then in late September I opened a Premium Rewards card and BofA took $15K from the Cash Rewards card to partially fund the new card which was approved for $21K.  So currently I have a CR card at $70K and PR at $21K.  Also, in August I started a banking relationship with BofA in order to qualify for Preferred Rewards, and right now I have about $70K in assets split between an Advantage Savings account and a cash management account with Merrill Lynch.  My plan is increase my assets with BofA to qualify for Platinum Honors level once I get confirmation that I'm enrolled in Preferred Rewards.

 

So that's the background.  I just checked the calendar and I'm eligible to request a CLI on the CR on 10/28.  Since my exposure with BofA is already $91K and in most cases the max exposure appears to be $99.9K, would I get better results calling in the request or hitting the luv button?  





Message 963 of 974
Regular Contributor

Re: BoA to stop HPs for CLI’s

From what I've read here, the 99 K limit applies for card holders who do not have a banking relationship other than the card. Since you now have a banking relationship maybe that doesn't apply anymore.
Yapsalot
Message 964 of 974
Established Member

Re: BoA to stop HPs for CLI’s

I have a banking relationship with BofA and my exposure is $120k premium card and $30k cash card. I think I'm maxed out cause my premium card used to be 150k but I applied for cash card and they transferred $30k to it.
Message 965 of 974
Senior Contributor

Re: BoA to stop HPs for CLI’s

@yapsalot @trikoret

Thanks for the replies; I'll hit the luv button later this morning.





Message 966 of 974
Highlighted
Senior Contributor

Re: BoA to stop HPs for CLI’s


@MaizeandBlue wrote:

@yapsalot @trikoret

Thanks for the replies; I'll hit the luv button later this morning.


So I requested a CLI on my Cash Rewards card  on 10/29 and got an immediate denial.  Received the adverse action notice on Friday and the only reason cited was "Time since most recent account opening on one or more of your accounts with us and/or our affiliates."

 

I opened the Cash Rewards card in August 2017 and grew it to a $85,000 credit limit by requesting CLIs every 3 months.  Then in late September I applied - and was approved - for a Premium Rewards card.  BofA took $15K from my CR limit to partially fund the PR's limit of $21K.

 

As usual, BofA's denial notices are inscrutable but I guess what they are saying is that opening the Premium Rewards card counts as a CLI so now I have to wait at least 91 days from its opening date to be eligible for a CLI on the Cash Rewards card.  I'll request CLIs on both cards in December just to see what happens.

 





Message 967 of 974
Established Contributor

Re: BoA to stop HPs for CLI’s

Agreed. BTW, your experience with them moving some of your big card's CL over to fund the new card is one of the reasons why I am not applying for anymore of their cards even though they keep asking me to when I log out of their site. Smiley Very Happy

FICO 8: EQ 784 / TU 777 / EX 776
BofA Cash Rewards Visa Sig $60,000 / AMEX EveryDay $30,000 / Chase CSR $23,700 / Citi Double Cash $23,600 / Discover It $20,400 / CapOne QuickSilver $9,450 / Barclaycard Rewards $8,900 / Chase Freedom $1,500 / Lowe's $35,000
Message 968 of 974
Regular Contributor

Re: BoA to stop HPs for CLI’s

I've been away for too long, really missing this forum, it's very motivating to me. Today I'm trying to catch up on reviewing some old posts and topics I missed out on. Decided to also hit up BOA for a well overdue CLI and they were pretty generous.  Still luving the soft pull effect Smiley Happy  Capture - BOA CLI.PNG

 

Work In Progress:
Current Revolving Personal CL: ~$446K


Current Revolving Business CL: ~$107K

Gardening Until Dec 2019 or Until All Scores are back above 800s

Message 969 of 974
Established Contributor

Re: BoA to stop HPs for CLI’s

Woot!!! Just went from 81.3k to 99.9k!!! 

Message 970 of 974
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