Possible to get a CLI with BofA right after opening a new CC?

[800Hopeful]

Hey guys, it's been about a year since I've applied for a new CC. Got approved for the Bank of America Unlimited Cash Rewards credit card with a $14k SL. Honestly was hoping for at least a $20k limit. I have the income to support it. It's my first card with BofA. My question is: Does anyone know if it's possible to get BofA to give a higher SL if you explain you were hoping for higher when you applied? Or do you have to wait 6 months?

Thanks in advance!

[K-in-Boston]

You could call and ask to speak with a "senior credit analyst," which is their internal term for underwriters, for a reconsideration.  But BoA cards can grow quickly with a little patience, and with the right profile and income can grow quite large.  Watch for the request credit line increase link to appear in your account and ask for the moon as they will always counter-offer; despite the hard pull language they have been soft pull requests for a few years now.

[800Hopeful]

Thanks @K-in-Boston ! I just tried that. I was told by a supervisor that they don't have a senior credit analyst I can talk to on the phone and the only thing they have is a mailing address to send a letter for a reconsideration, which takes 30 days to get a reply. I was told if I don't want to send a letter the only other thing I can do is just wait until the new credit card arrives in the mail, then setup the online banking for it, then request a CLI with the button when logged in. Any advice?? 

[coldfusion]

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@800Hopeful wrote:

Thanks @K-in-Boston ! I just tried that. I was told by a supervisor that they don't have a senior credit analyst I can talk to on the phone and the only thing they have is a mailing address to send a letter for a reconsideration, which takes 30 days to get a reply. I was told if I don't want to send a letter the only other thing I can do is just wait until the new credit card arrives in the mail, then setup the online banking for it, then request a CLI with the button when logged in. Any advice?? 

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I'd plan on sending the letter (CMRR). 

Exposure of the  "request a credit limit increase" hyperlink for any given account is evaluated and determined nightly by an autobot using criteria that can vary but which is not known to the publc.  There's no guarantee whatsoever that it will be enabled for you when your account is first provisioned. 

Even after an account has been established not everybody has the hyperlink available at any given time, an account holder with multiple cards can have the link exposed for some cards but not others, and an account can have the hyperlink exposed today and not exposed tomorrow. 

[800Hopeful]

Roger that. Appreciate the suggestion. Any advice as to what I should include in the letter? Or better yet, do you happen to have a template? The truth is, the SL they gave me is the lowest limit I have and I was planning to drop 15k on the card and leave it there for a few months (0% intro APR). So I would have been a lot happier with a 30k limit than the 14k limit that was provided. My income is over 500k and FICO is 740+ across the board.

[800Hopeful]

Bump

[1GaDawg85]

I don't know how much BOA will wiggle on the credit limit unless you have massive amounts of money with them. I have had their card for over a year and have not been able to request a credit limit increase. I would check the backdoor number thread and if you can try one of the other numbers that are out there and see if you can get another human on the phone. 

[coldfusion]

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@800Hopeful wrote:

Roger that. Appreciate the suggestion. Any advice as to what I should include in the letter? Or better yet, do you happen to have a template? The truth is, the SL they gave me is the lowest limit I have and I was planning to drop 15k on the card and leave it there for a few months (0% intro APR). So I would have been a lot happier with a 30k limit than the 14k limit that was provided. My income is over 500k and FICO is 740+ across the board.

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No template, but comment maybe should be along the line of that you're a relatively high spender in line with your high income and $14K isn't consistent with your other credit lines and doesn't really meet your needs.

$14K is actually a pretty good starting limit from BoA - there aren't many reported that are higher than $17K - and emperically their business model is to assign a moderate starting limit and later reciprocate with comparatively generous CLIs in response to consistent high spend or growing a significant portfolio with BoA and/or Merrill Lynch.

Calling in is more likely to just trigger a CSR to reprocess another standard application whereas what you really want is to have a senior analyst review your application and account in order to revise your limit upward.   I don't know if you would be successful in accomplishing a transfer if you tried calling them during EDT weekday business hours.

[800Hopeful]

Thank you! The advice is appreciated!