Is asking for a credit limit increase at BoA a good idea for me?

[Anonymous]

I've had a Bank of America BankAmericard Visa for over a year now, and since it was my first CC, the CL I was given was only a paltry $600. I just got an AmEx PRG, so I am set with new cards for a while, but I was wondering if now would be a good time to apply for a CLI now that I don't have to worry about getting too many inquiries for a while. It's hard for me to get a decent revolving credit line because my file is so thin, so part of me thinks it's better to just save the inquiry for another time. Here's my file as it sits currently: 

• 19 y/o
• Income is 60k
• AAoA was around a year until I opened the AmEx
• 1 inq for BankAmericard 3/13, 1 inq for AmEx (declined) 6/13, 1 inq for AmEx (approved) 3/14
• No derogs, lates, charge offs, etc,
• Student loans of 2750 or so
• Perfect payment history at BoA with an average util rate of ~5% or so

So, is it worth the inquiry at BoA, or would it be better used to get a different/better product down the line once I've built my credit some more. Also, BoA has you fill out what you want your CL to be increased to, but is this just a starting point for negociation, or will I just get or not get whatever I enter into the box? If it's up for negociation, I'd rather ask for something in the $5000 range, but I don't want to be that aggressive if it means I won't get the increase. Based on my file, what would you guys reccomend that I do? And what should I ask for my CL to be increase to? Thanks!

[myjourney]

If you have no plans for additional cards at the moment I see no reason not to take the chance for a CLI

Just be aware that even with the HP the CLI is not guaranteed 

Good luck 

[DrZoidberg]

They have been pretty generous lately. If you have had it over a year and you haven't requested a CLI, you could probably get one. Aim a little higher than what you would really settle for. 

[JoshuaHolySpirit]

It looks like Bankamericard-3/13 was ''EX pull''.

Going by this rate, your TU must have been 1 or 2. Your income is pretty decent......

This means, I would pull the trigger with $7700CL asking. Okay, you can do $5000 if you want.

''They will counter offer you if NOT.''

Go for it-!!

[Creditaddict]

They pull TU for CLI and I would ask for $10k and let them counter.

Just do it online and if it's not instant, check back in a couple hours.

[smittyboy020]

I did a PC and two CLI's with BofA all within 30min resulting in 1 HP on the same card. I was sitting on $1000 for 3 years. I requested $5000 and was approved 10 minutes later. Immediately I PC'd from a Platinum Plus to a Cash Rewards Siggy via chat. Minutes later I requested $10,000 online, then $7500 showed up on my account 15 minutes after. In your case, I think it's well worth the HP.

[PrimeRate]

1. Ask for 10k.

2. If you don't receive a counter offer on the spot call the backdoor credit analyst #: 866-811-4108 or 800-718-6072

Good Luck  and keep us posted!

[Anonymous]

I took your guys' advice and went ahead and applied for a CLI to $10,000. I didn't get it immediatately since I have a fraud alert, but I called the backdoor number and once I confirmed my identity, they went ahead and bumped it to $2500, which I'm not thrilled with, but I guess it's better than $600. The woman on the phone informed me that since I didn't have any other tradelines or mortgages, $2500 was the best she could do. 

[Creditaddict]

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@Anonymous wrote:

I took your guys' advice and went ahead and applied for a CLI to $10,000. I didn't get it immediatately since I have a fraud alert, but I called the backdoor number and once I confirmed my identity, they went ahead and bumped it to $2500, which I'm not thrilled with, but I guess it's better than $600. The woman on the phone informed me that since I didn't have any other tradelines or mortgages, $2500 was the best she could do. 

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that says to me: GO APPLY FOR AT LEAST 2 MORE CREDIT CARDS!

Id pick an Amex Credit card since you have the PRG and perhaps Chase Freedom or Discover it depending what rewards might be useful.

[myjourney]

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@Anonymous wrote:

I took your guys' advice and went ahead and applied for a CLI to $10,000. I didn't get it immediatately since I have a fraud alert, but I called the backdoor number and once I confirmed my identity, they went ahead and bumped it to $2500, which I'm not thrilled with, but I guess it's better than $600. The woman on the phone informed me that since I didn't have any other tradelines or mortgages, $2500 was the best she could do. 

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Congrats WTG