Time to ask BofA for a CLI?

[smc733]

Hi everyone,

I have only 3 recent inquiries on EX (last 6 mos), 1 on EQ, and 1 on TU.

I've been wanting to get this BofA, my primary Visa, to a $5,000 limit, since they last bumped me to $3,500 in February.

Does anyone think now is a good time to do so?  I have other CLs nearly double this, yet I use it the most.

My "reasons" would be:

-I'm consolidating to 2 cards

-Running a lot more through it

-$5k would be a comfortable level

-I may upgrade to the siggy

-I have my deposits with them.

Any thoughts?

[Ron1]

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@smc733 wrote:

Hi everyone,

I have only 3 recent inquiries on EX (last 6 mos), 1 on EQ, and 1 on TU.

I've been wanting to get this BofA, my primary Visa, to a $5,000 limit, since they last bumped me to $3,500 in February.

Does anyone think now is a good time to do so?  I have other CLs nearly double this, yet I use it the most.

My "reasons" would be:

-I'm consolidating to 2 cards

-Running a lot more through it

-$5k would be a comfortable level

-I may upgrade to the siggy

-I have my deposits with them.

Any thoughts?

---

Hi,

Two months ago, I asked for CLI for my BankAmericard Visa Signature and they pulled hard on TU and EQ and soft on EXP.  They increased CL from 10K to 15K.  Six months ago, they moved CL from other account to get increase.  I would say to wait another six months to ask for CLI. I don't think it would matter your deposit with them.

They also look at your other account payment history and credit utilization.

Ron.

[smc733]

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@Ron1 wrote:

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@smc733 wrote:

Hi everyone,

I have only 3 recent inquiries on EX (last 6 mos), 1 on EQ, and 1 on TU.

I've been wanting to get this BofA, my primary Visa, to a $5,000 limit, since they last bumped me to $3,500 in February.

Does anyone think now is a good time to do so?  I have other CLs nearly double this, yet I use it the most.

My "reasons" would be:

-I'm consolidating to 2 cards

-Running a lot more through it

-$5k would be a comfortable level

-I may upgrade to the siggy

-I have my deposits with them.

Any thoughts?

---

Hi,

Two months ago, I asked for CLI for my BankAmericard Visa Signature and they pulled hard on TU and EQ and soft on EXP.  They increased CL from 10K to 15K.  Six months ago, they moved CL from other account to get increase.  I would say to wait another six months to ask for CLI. I don't think it would matter your deposit with them.

They also look at your other account payment history and credit utilization.

Ron.

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Hmm,

Definitely not looking to have more than one CRA pulled right now.  Perhaps I should wait until I'm:

<3 on each for the last year

0 or 1 on each for the last 6 months (no intent of any other applying with the exception of student loans)

Maybe around Christmas time would be the best time to ask?

[Ron1]

By the way, most of the time they called you at home. They leave you a message on your answering machine if you're not here.  I never called them back. Within a day, they decided whether they give it to you or not.  I don't think the Christmas would matter for their decision. They looked at your credit report, payment history and utilization. They're are not easy to deal with. Avoid them if you can. Their cards are not one of my favorites.  They sent me 5% cash back on certain things.

Ron.

[smc733]

Interesting, they've been the best to me out of all companies, including Amex and Discover.

My payment history has been flawless.  PIF every month, I used to pay several times a month, but now that I've decided to stay at just using two cards actively (other being Amex), I'm only paying them once a month, a day after the statement cuts and reports a balance.

I think that looks more normal and less risky than paying multiple times a month.

[Ron1]

I'm glad to hear. They are nice to you because you are paying on time and paying in full. You're profitable for them. It can be changed if you carry high balance or miss a few payment.  It's business. Nothing personal. They CLD and then closed 7 accounts within a day a couple of years ago because carrying a high balances on their accounts. Now they keep sending me BT checks and 5% cash back on certain purchases because I don't owe them any money.  I don't really to use their cards. Their credit analyst are not easy to deal with. So I went with credit unions.

Ron.

[Cory]

Hi SMC733,

I too, have not had any bad experiences with BofA with my card, yet at least. I've only had the BofA Cash Visa Signatures since February of this year. So last week I went online, selected the request credit line increase options. I wanted to increase my limit by $3,500.00.

I had to update my employment and type in an amount to be increased too. I got the "call for the credit limit increase message" So I did the same day and spoke with a nice gentlemen who ask me some additional questions, and increase my limit from $5K to $8.5K I only ask for it to be increased to that amount. So what I am trying to say is that , it all depends on your own individual position, and who you talk to at BofA.

I was happy at the end of my call with BofA.

Cory