Got my third "luv button" and third consecutve CLI today. My history now looks like:
$1500 SL early May 2018
> $6600 mid-August 2018
> $13700 mid-Nov 2018 (asked for 3x or 20k)
> $23700 end-Feb 2019 (asked for 25k)
That's a pretty incredible increase for someone who didn't even have a credit history in May 2018 (now at around 726 FICO). I reckon the pace will slow down from now on though. Does anyone know if there is a common "ceiling" to the BoA Cash Rewards card?
Thanks to BoA for treating me so well!
Update: Asked for another $11200 today to take me to $34900 and was auto-approved for the full amount, so I guess that means I left money on the table. Thanks BoA! (FICO8 at 741)
Hey Viking, so even if the luv button shows all that HP language as long as it has been 91 days someone should be eligible for SP CLI?
The luv button showing (only) means that they consider you eligible to be considered for a CLI, not necessarily that you're eligible to be granted one.
The vast majority of data points confirm a SP, even with the HP language displayed, but there have been a couple of sporadic reports of an HP being made. Anyone in a position where a HP would be contraindicated (expected upcoming mortage application, for example) needs to weigh the risk vs. reward.
Just wanted to update that I had gotten approved for a lower amount than requested on my 1st attempt.
Tried again right after and got the 7-10 days notification. Received a letter and they denied the 2nd attempt (as was expected).
Finally got my first CLI at 368 days from opening. SL was $7,000 and when I tried at 91 days, I was denied with verbiage mentioning lack of relationship with them/affiliates and less than a year since card opening. Asked for $20,000 and was countered at $14,100. Not bad! Last TU score from them was 823. I did unlock my TU based on others’ previous experiences. No HP alert yet...
Wow long wait DCnDC! I'm glad you got it. I'm on the same year wait myself. Not what I expected but still worth it.
Good reading your adivce.
I am thinking about going for my FIRST ever CLI on both my BOA Cash Rewards ( current CL $5500 ), and my BOA Premimum Rewards ( current CL $7500 ).
* I have had both these cards for 6 months
* I've had a lot of useage, but I've never been above about 30% Utilization on either.
* Always pay my balances off within 30 days.
* I'm a Platinum Rewards level Bank of America customer with my investment and deposit accounts.
* My FICO scores have gone up about 30 points since was approved for these cards 6 months ago.
Right now am at EQ: 715 / TU: 711 / EX: 690
Only thing is that since I applied for these two cards, I have added 4 other cards -- also 6 months ago. So, not sure if BOA will think I have opened to many cards 6 month ago.. My potential liablity across all my cards ( 60.5 K credit line combined over 8 cards ) is much higher now than when I was approved for the two BOA cards.
Then again, the "apply for credit limit increase" button on active on the BOA website for both my cards, so maybe that means that aren't that concerned over these things... It's not a pre-aprroval, but it's is encouraging and tempting to take a shoot at getting the increases on both - especially if as you indicate, they won't be Hard Pulls.
I last requested a CLI in Jan, the blue link started to appear sometime around Apr (3 months)
I requested a CLI today (after 6 months) got a 14k increase.
what was your SL? i started at 3200 back in May. will finish the 1k spend to get the sub. would like to get CLI to bring down my utility and have a somewhat more useful CL.
Update: had a credit line increase on June 22, 2018 from $30k, where it had been for several years, to $48k. Was a soft pull. Just requested credit line increase from $48k to $76k, B of A allowed an increase to $60,800. No indication yet of a hard pull but only been a few minutes. Thanks to the OP and all the contributors for helping me double this credit line in just three months!
Another update. Feb 15 2019 CLI from $60k to $80. June 25 2019 from $80 to $99.9. Very little usage less than $1k per month. FICO scores 836, 850, 850. Had card 12 years. Never asked for tax returns. No banking relationship with B of A.