BofA CLI chances

[lonno925]

Ok its been 5 or 6 months since I have been here but you guys helped me out before so now I want to try again. 

In August I got a bank of america travel rewards card. I believe it is the student edition (not sure how much that matters). Anyway I initially got 1000 dollar limit but called in and they upped it to 3500 for me since I was studying abroad and wanted to use it to pay for my housing ($2800+). Now I have a 2400 balance on it and I have a few other cards which I had when I got it and I will show the info below. But I want to apply for a loan in June or July to consolidate about 40-50k in student loans and want to try to get my cards in order before that. i was hoping to get a CLI to help get my utilization down which is unfortunately 50%. Also I would love to get a better card like the saphire prefered. Does anyone think I have a chance at it. I want to 45000 bonus miles really bad. 

I also think I will be putting about 2k towards my card debt in next 3 months. (I need to get a small emergency fund going or I would put more.)

name:limit: balance

Balance when I got my card:

income: 25000

local bank card: 5000 : 4500

bofa: 0 : 0--didnt have of course

ae credit card : 3400 : 1100

Balance Now

income: 42000

local bank card: 5000 : 3950

bofa: 3500 : 2400

ae credit card : 3400 : 450

 Edit:

FOrgot kredit karm says I got 650.

[myjourney]

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@lonno925 wrote:

Ok its been 5 or 6 months since I have been here but you guys helped me out before so now I want to try again. 

In August I got a bank of america travel rewards card. I believe it is the student edition (not sure how much that matters). Anyway I initially got 1000 dollar limit but called in and they upped it to 3500 for me since I was studying abroad and wanted to use it to pay for my housing ($2800+). Now I have a 2400 balance on it and I have a few other cards which I had when I got it and I will show the info below. But I want to apply for a loan in June or July to consolidate about 40-50k in student loans and want to try to get my cards in order before that. i was hoping to get a CLI to help get my utilization down which is unfortunately 50%. Also I would love to get a better card like the saphire prefered. Does anyone think I have a chance at it. I want to 45000 bonus miles really bad. 

I also think I will be putting about 2k towards my card debt in next 3 months. (I need to get a small emergency fund going or I would put more.)

name:limit: balance

Balance when I got my card:

income: 25000

local bank card: 5000 : 4500

bofa: 0 : 0--didnt have of course

ae credit card : 3400 : 1100

Balance Now

income: 42000

local bank card: 5000 : 3950 Balance to high 

bofa: 3500 : 2400 Balance to high 

ae credit card : 3400 : 450

 Edit:

FOrgot kredit karm says I got 650.

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In terms of scoring those 2 cards have a negative affect on scores.....X2 

Once for high balances and again for maxed out cards 

Questions 

INQ's in the last year?

Baddies?

How long have you had your oldest card and I'll tell you why. Chase likes to see 2 things cards with 5K TL's and CC history of a year YMMV

CK can be +/- 50 points not a good indicator

What you need is a good BT card 

[lonno925]

Not positive on all the details but. 

Inq 4-6. Mostly student loans 

no baddies. 

Oldest card is 4ish years. 

My bofa card is 0 interest until august and will be paid off by then. The local is 10% int so a bt card while nice would not be stupendous. 

Im looking at first of all bettering my score to get lower int rate on the loan but also want to get a good mile card as the travel card I have from bofa is lack luster In my opinion. but wprked when I had worse credit. 

[myjourney]

Questions 

INQ's in the last year?

Baddies?

How long have you had your oldest card and I'll tell you why. Chase likes to see 2 things cards with 5K TL's and CC history of a year YMMV

CK can be +/- 50 points not a good indicator

What you need is a good BT card 

@lonno925 wrote:

Not positive on all the details but. 

Inq 4-6. Mostly student loans 

no baddies. 

Oldest card is 4ish years. 

My bofa card is 0 interest until august and will be paid off by then. The local is 10% int so a bt card while nice would not be stupendous. 

Im looking at first of all bettering my score to get lower int rate on the loan but also want to get a good mile card as the travel card I have from bofa is lack luster In my opinion. but wprked when I had worse credit. 

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The only way to better scores is pay off the balances or get total UTL down under 20% minimum 

Like stated before the only reason scores are low now are the balances 

Ony reason I mentioned a BT is even tho you have a 10% card being able to have a year or more at $0% is much better and would free up cards for possible CLI's to lower UTL

Then you may stand a good chance of CSP...Arrival...

But at current state I doubt you would be approved ..Sorry IMHO 

Good luck should you app 

[lonno925]

So what do you think I would need to be at for csp. Until wise? <20% max?

[myjourney]

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@lonno925 wrote:

So what do you think I would need to be at for csp. Until wise? <20% max?

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Yes 

[lonno925]

Ended up taking your advice. Got the discover it card with 14 months 0%. Also called BofA and got a cli from 3500 to 5000. Will get everything down. Maybe in a few months Ill try for the csp. Thanks guys. anyone know how long to wait to to call to ask about my account? I wasn't told a cl online so I would like to call. 

Edit: I wanted the discover it card for a while for the fico scores.

[myjourney]

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@lonno925 wrote:

Ended up taking your advice. Got the discover it card with 14 months 0%. Also called BofA and got a cli from 3500 to 5000. Will get everything down. Maybe in a few months Ill try for the csp. Thanks guys. anyone know how long to wait to to call to ask about my account? I wasn't told a cl online so I would like to call. 

Edit: I wanted the discover it card for a while for the fico scores.

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Congrats I think you made the right choice

You should have been given you limit but feel free to call very customer friendly 

[TravellingNomad]

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@lonno925 wrote:

Ended up taking your advice. Got the discover it card with 14 months 0%. Also called BofA and got a cli from 3500 to 5000. Will get everything down. Maybe in a few months Ill try for the csp. Thanks guys. anyone know how long to wait to to call to ask about my account? I wasn't told a cl online so I would like to call. 

Edit: I wanted the discover it card for a while for the fico scores.

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congrats on the cli and approval. welcome to discover. i have the Miles and IT cards. they have great customer service from my experience. 

[lonno925]

Thanks for the welcome and Ideas. No it never told me and I don't have online access yet. But I called in to ask and was pleasently surprised. They gave me a CL of 8000. Officially my biggest card which is good and took my total util to 31%. Very happy. Means I can put more money back into my emergency fund and pay off all my cards with 0% int over the next year.