BofA CLI if last 1 was <6 months

[score_building]

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@damierFICO wrote:

Saw your reply before I head to bed. Here is that info:

BofA opened July 2012. Util 0/2500
Gec RB/Banana Rep opened Oct 2012. Util 0/600
CSP opened Feb 2014. Util 1000/12000
Total Util is 6.6%
AAoA - 13 months

Experian Fico right before CSP approval - 743
No installed loans

No baddies. I know BofA pulls equifax but I don't have that report handy to list the # of hard inquiries in the last 12 months but it should only be 2 (I forgot what chase pulls but if they pulled equifax for her csp then 3 inquiries)

I agree that the routine requests are a bad idea. Definitely have learned a lot from this forum, thanks guys. Given this information, would a four-month CLI be out of line to ask? I wonder what they would counter at if she requested 10-12k now as oppose to when 6 months comes.

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She's a relatively 'new credit' thin file with G-VG scores and low UTI.

BOA may bite but IMO CLI outcome could be better at least 6 months after previous request with more payment history under her belt.

Some heavy spend and PIF history on the account may help support a request in any case. GL!

[Creditaddict]

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@damierFICO wrote:

Thanks for the advice. From the sticky, which number is better to call in that case?

BofA:  866-811-4108  (Credit analyst - existing cardholders) by myjourney

BofA:  800-718-6072 (Credit analyst - for existing cardholders only)

BOFA:  866-865-7839 (Recon Department)

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I called this the other day.

[broseph23]

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@damierFICO wrote:
Sorry for the misinformation about the discover sp. The Experian report I'm looking at has a sp the same month that she was denied for the IT card. After reading your post I realize this was just a coincidence and one her 2 other reports should have the hp. Also thanks for clearing up which bureaus are for the app and CLI. Looks like I still have a lot more to learn!

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Have you looked at your TU or EQ? Discover usually pulls either of those, so there may be a HP from discover on one of them. 

[damierFICO]

Posting from phone, it's not letting me quote posts. @score_building thanks for the reply and keeping it in perspective that her file is still pretty new. @creditaddict thanks just saved that number for myself when my cli comes up haha. @broseph23 myfico has been kinda weird with her account. everytime she tries to buy a report it always makes her call in to verify her identity but after the csr clears it the purchase still won't work. She's waiting for an email back currently.

[damierFICO]

Update: She applied for Freedom last Wed and was approved for $7,000. Today she clicked the luv button for bofa and requested from $2500 to a total of $15,000. Immediately called the backdoor number and the first rep countered to $5,000. Thanked her, hung up and immediately called back to speak to another rep that was more friendly. It turns out the initial report they pulled (transunion) did not reflect her new higher limit CSP which is at $12,000. The new rep pulled another report and countered at $7500.

The rationale given was that even though a higher limit on another card is present and she has a good bofa payment history, they want her history with their particular card > 2 years before a limit > $10,000 is granted. Thank you for all for comments, looking back the additional $5k in credit might not have justified the extra hp but thankfully for the 2nd they pulled her equifax which shouldn't have more than 1 or 2. 

[coldnmn]

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@damierFICO wrote:

Update: She applied for Freedom last Wed and was approved for $7,000. Today she clicked the luv button for bofa and requested from $2500 to a total of $15,000. Immediately called the backdoor number and the first rep countered to $5,000. Thanked her, hung up and immediately called back to speak to another rep that was more friendly. It turns out the initial report they pulled (transunion) did not reflect her new higher limit CSP which is at $12,000. The new rep pulled another report and countered at $7500.

The rationale given was that even though a higher limit on another card is present and she has a good bofa payment history, they want her history with their particular card > 2 years before a limit > $10,000 is granted. Thank you for all for comments, looking back the additional $5k in credit might not have justified the extra hp but thankfully for the 2nd they pulled her equifax which shouldn't have more than 1 or 2. 

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Congrats! Thanks for the update.

[damierFICO]

No problem, I definitely value the advise given in this thread. It does make more sense/gives better results if someone spaces their hps to build a longer history in between nstead of just being trigger happy every 6 months like clockwork and racking up hps. Will take this to heart when my 6 months creeps up and I try hard to fight the urge to click that luv button! 

[Creditaddict]

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@damierFICO wrote:

No problem, I definitely value the advise given in this thread. It does make more sense/gives better results if someone spaces their hps to build a longer history in between nstead of just being trigger happy every 6 months like clockwork and racking up hps. Will take this to heart when my 6 months creeps up and I try hard to fight the urge to click that luv button! 

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that's an odd statement of 2 year history from BofA... my partner has no  year history and has $25k on fidelity and $11,900 on 321 visa after an instant counter cli online from $5k... I would for sure CLI in 6 months!

HP's only effect you for 12 months anway.

[damierFICO]

Thanks for providing your example. I read that in another thread that your fico score that after 1 year it doesn't effect it but I'm confused if for another lender's algorithym would it have any impact for inquiries between 1 and 2 years old?

I think I might be confused between all the different fico models there are. I know that you can't infer yiour fico from a FAKO score but beyond that I don't know much about the differences between how this site calculates certain things versus how a lender will do it. Obviously some info is proprietary or else we'fd all have a roadmap to 850 but if you can point me to any additoinal threads to read that would be helpful.

[Creditaddict]

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@damierFICO wrote:

Thanks for providing your example. I read that in another thread that your fico score that after 1 year it doesn't effect it but I'm confused if for another lender's algorithym would it have any impact for inquiries between 1 and 2 years old?

I think I might be confused between all the different fico models there are. I know that you can't infer yiour fico from a FAKO score but beyond that I don't know much about the differences between how this site calculates certain things versus how a lender will do it. Obviously some info is proprietary or else we'fd all have a roadmap to 850 but if you can point me to any additoinal threads to read that would be helpful.

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If I EVER had a lender mention INQ's after 12 months I will give them 1 oppurtunity to tell them they are not counted on Fico because of being old and if they said something further about them Id probaby call them stupid... literally I get very grouchy about someone trying to pull things from places they shouldn't be an INQ's over 12 months is one of them.... I think only 1 person EVER has mentioned and like I said I made the comment about no fico effect after 12 and they agreed and moved out!