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Credit limit above 100k is it possible?

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MyDataMyChoice
Valued Contributor

Re: Credit limit above 100k is it possible?

I would first contact Merrill and see if it is a good fit for you


Message 31 of 69
coldfusion
Community Leader
Mega Contributor

Re: Credit limit above 100k is it possible?


@Remedios wrote:

@Anonymous wrote:

Ok. I will try to transfer E-trade stocks to ML.


 

Without getting into validity of suggestion, I would not make any important financial decision based on a single suggestion on a message board. 


This.  I wouldn't recommend a change in brokerage firms either solely based upon a few postings I read on a message board.

 

If you're interested in going down this path you might want to see if there is a local BoA branch that either has a full time on-prem Merrill Financial Advisor or can schedule an in-branch appointment with a roaming FA.

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 32 of 69
simplynoir
Community Leader
Mega Contributor

Re: Credit limit above 100k is it possible?


@coldfusion wrote:

@Remedios wrote:

@Anonymous wrote:

Ok. I will try to transfer E-trade stocks to ML.


 

Without getting into validity of suggestion, I would not make any important financial decision based on a single suggestion on a message board. 


This.  I wouldn't recommend a change in brokerage firms either solely based upon a few postings I read on a message board.

 

If you're interested in going down this path you might want to see if there is a local BoA branch that either has a full time on-prem Merrill Financial Advisor or can schedule an in-branch appointment with a roaming FA.


Honestly, take this a step further/back depending on how you look at it and talk to your own accountant/FA on this with the kind of wealth being talked about here. I cannot even imagine them supporting a decision like this without talking to them first about it.

Message 33 of 69
NRB525
Super Contributor

Re: Credit limit above 100k is it possible?


@Saleen099 wrote:

Why? 


Why not?

 

We don't judge those who come here, asking what is possible after they have a BK or a list of Lates and Collections as long as your arm. We provide / share / discuss answers as to what is possible.

 

Same situation here. Some of us are wondering what the upper bound is for credit limits. Understanding some of the possibilities is part of our growth in understanding the credit world.

 

I know I am learning from this thread.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 34 of 69
Trikoret
Contributor

Re: Credit limit above 100k is it possible?

My BofA Premium card has 120k limit and my BofA travel Rewards business is 58k. I do use both cards heavily each month. I spend anywhere between 130k-180k on both cards which include personal and business expenses. Always pay in full. I also have request limit increase for my premium card. I was worried to press the button and don't want to poke around. I see your statement closed at 71k balance and here I'm worried about leaving a high balance. I pay most of it off before closing statement. I usually leave 6k on my premium card and 20k on my business card. You never had any problems with BofA keeping those high balances?
Message 35 of 69
AverageJoesCredit
Legendary Contributor

Re: Credit limit above 100k is it possible?

C'mon Simply, if its written on myFico its golden😎......

M8😏😆
Message 36 of 69
NRB525
Super Contributor

Re: Credit limit above 100k is it possible?


@simplynoir wrote:

@coldfusion wrote:

@Remedios wrote:

@Anonymous wrote:

Ok. I will try to transfer E-trade stocks to ML.


 

Without getting into validity of suggestion, I would not make any important financial decision based on a single suggestion on a message board. 


This.  I wouldn't recommend a change in brokerage firms either solely based upon a few postings I read on a message board.

 

If you're interested in going down this path you might want to see if there is a local BoA branch that either has a full time on-prem Merrill Financial Advisor or can schedule an in-branch appointment with a roaming FA.


Honestly, take this a step further/back depending on how you look at it and talk to your own accountant/FA on this with the kind of wealth being talked about here. I cannot even imagine them supporting a decision like this without talking to them first about it.


It is possible for an investor to have a good enough understanding of the markets to be self-directed in investments. I count myself as one of those. The location where the stocks / investments are held, in a self-directed situation, does not depend on an accountant or finanicial advisor. Most people do need that, but if OP feels that a change of some stocks / funds from one broker to another is appropriate, we aren't here to judge that.

 

Given the implied value of those investments, I'd not worry too much about the OP's ability to make financial choices.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 37 of 69
Remedios
Credit Mentor

Re: Credit limit above 100k is it possible?


@NRB525 wrote:

@simplynoir wrote:

@coldfusion wrote:

@Remedios wrote:

@Anonymous wrote:

Ok. I will try to transfer E-trade stocks to ML.


 

Without getting into validity of suggestion, I would not make any important financial decision based on a single suggestion on a message board. 


This.  I wouldn't recommend a change in brokerage firms either solely based upon a few postings I read on a message board.

 

If you're interested in going down this path you might want to see if there is a local BoA branch that either has a full time on-prem Merrill Financial Advisor or can schedule an in-branch appointment with a roaming FA.


Honestly, take this a step further/back depending on how you look at it and talk to your own accountant/FA on this with the kind of wealth being talked about here. I cannot even imagine them supporting a decision like this without talking to them first about it.


It is possible for an investor to have a good enough understanding of the markets to be self-directed in investments. I count myself as one of those. The location where the stocks / investments are held, in a self-directed situation, does not depend on an accountant or finanicial advisor. Most people do need that, but if OP feels that a change of some stocks / funds from one broker to another is appropriate, we aren't here to judge that.

 

Given the implied value of those investments, I'd not worry too much about the OP's ability to make financial choices.


 

 

 

OP literally typed  Ok. I will try to transfer E-trade stocks to ML.  50 min after suggestion was made.  Takes me longer to decide what to eat for breakfast. 

 

That's not self directed, that's taking one opinion and running with it.  

I am fairly certain your decision process would not be that lax. 

 

 

 

Message 38 of 69
simplynoir
Community Leader
Mega Contributor

Re: Credit limit above 100k is it possible?


@NRB525 wrote:

@Saleen099 wrote:

Why? 


Why not?

 

We don't judge those who come here, asking what is possible after they have a BK or a list of Lates and Collections as long as your arm. We provide / share / discuss answers as to what is possible.

 

Same situation here. Some of us are wondering what the upper bound is for credit limits. Understanding some of the possibilities is part of our growth in understanding the credit world.

 

I know I am learning from this thread.


You are probably one of the few that is learning from this. Most won't be able to apply this for themselves at all with the type of money being thrown around here. I agree sharing information is great but this won't help a lot of people except the true 1%.

Message 39 of 69
simplynoir
Community Leader
Mega Contributor

Re: Credit limit above 100k is it possible?


@Trikoret wrote:
You never had any problems with BofA keeping those high balances?

There's nothing wrong with reporting a high balance as long as they show they can pay it off and based on the $78k payment on the second card I do not believe that to be an issue here.

Message 40 of 69
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