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How much CLI to Ask for on Bank of America Cash Rewards Card?

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Anonymous
Not applicable

How much CLI to Ask for on Bank of America Cash Rewards Card?

Hi,

 

I have had the BankAmericard Cash Rewards Visa card for over two years now and wanted to ask for a CLI. My initial (and current) credit line is $1,500 and I have never asked for a CLI. I always pay on time and in full and always spend several hundred dollars a month with the card. My income is about $30,000 per year. The last time I checked my FICO scores using myFICO (in March 2014), they were all in the low 700s.

 

How much should I ask for and does it matter whether I do the request over the phone or online? I'm mainly asking because I want to lower my credit utilization since it's pretty high due to the low credit limit.

 

EDIT: I was approved for the Bank Americard Better Balance Rewards Card with a $2,000 credit limit. Can I use the same HP to try to get a CLI on my first card? If not, can I transfer some of the credit from the second card to the first card without a HP?

Message 1 of 21
20 REPLIES 20
SOGGIE
Valued Contributor

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

My suggestion: Do it online and request $25,000. They will counter. BTW Good luck!

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 2 of 21
ScoreOrBeScored
Valued Contributor

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

I opened my travel rewards and BBR iMarch 20, 2015

 

travel rewards - $2k 

bbr - $10k

 

called for cli May 27, 2015

 

travel rewards - $15k

bbr - $12k

 

then I moved $5k from BBR to travel 

 

end results :

 

travel rewards - $20k

bbr - $7k

 

imsay ask for $15k 

 

whats your our highest limit card you have ? 

 

 

 

 

Message 3 of 21
Anonymous
Not applicable

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

This is my only credit card, so my total credit line is only $1,500. Also, I have several student loans and the first one is about five years old, so my total credit history is about five years old.

Message 4 of 21
SOGGIE
Valued Contributor

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

I would say to request high. They will counter with a lower figure.
Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 5 of 21
SOGGIE
Valued Contributor

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

This will be a HP so make it worth it. And them giving you a higher limit is to your advantage when apping for additional cards.
Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 6 of 21
Anonymous
Not applicable

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?


@SOGGIE wrote:

My suggestion: Do it online and request $25,000. They will counter. BTW Good luck!


You might as well, because they'll offer something lower and you may be able to negotiate a little.

 

Keep in mind that Bank of America will hard pull your credit for a CLI, no matter what.

Message 7 of 21
ScoreOrBeScored
Valued Contributor

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

You need more credit cards. If I were you, I would app another BOA card,see how that turns out.

 

call back a few days later and ask for a cli on ur current card with the same HP.

 

then I would go app discover and a chase freedom.

Message 8 of 21
SOGGIE
Valued Contributor

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?

Again, best of luck to you! Let us know how you make out.
Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben
Message 9 of 21
Anonymous
Not applicable

Re: How much CLI to Ask for on Bank of America Cash Rewards Card?


@ScoreOrBeScored wrote:

You need more credit cards. If I were you, I would app another BOA card,see how that turns out.

 

call back a few days later and ask for a cli on ur current card with the same HP.

 

then I would go app discover and a chase freedom.


This sounds like an excellent plan to me! I would probably wait on the freedom until a better promo comes.  What about  SallieMae?

Message 10 of 21
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