Us bank vs Bank of America

[Jccflat]

Asking for a family member with a 730fico score and 5 inquiries and $250,000 available credit 6% utilization 

Which of the two is there a chance to get a higher credit line Bofa or us bank ?

[TheFIGuy]

If you're specifically talking credit limit, it will be Bank of the Dread (BofA). US Bank is known to be conservative with initial credit limits.

[Anonymous]

@Jccflat Can you provide a few more details? For instance, how many credit cards do they have open, average age of accounts, X/12 status for inquiries and new accounts?

Which cards are under consideration? 

US Bank is known to be more conservative in terms of approval. You can be denied at 2 new accounts or more over the last 12 months for too many recent accounts. This is a YMMV situation though.

Starting limits are really hard to guage unfortunately, even with all the data.

[FinStar]

It depends @Jccflat.  If BoA feels that your family member has sufficient available credit (all things considered), they may not go as high.  We're under a different lending environment these days so it could be a toss-up, plus we really don't know what your family member's overall profile is like, besides a couple of items that you've shared.  

Has your family member opened >3 accounts in the past 12 months?  Do they have any banking relationship with either bank?  Which particular cards is your family member interested in for BoA and US Bank?

I'd say, why not go for both? 😜

[ccquest]

Probably BoA, plus they have SP CLIs available compared to US Bank where you never know if it'll be HP or SP.

[barca]

I would recommend Bank of America Cash Rewards Card -

known for initial high limits + very good  credit line increases over time

[K-in-Boston]

For initial approvals, there are lots of data points for both banks.  If one has the income/assets to support it, the BoA cards can grow fairly easily given a little time with repeated CLI requests as evidenced by the number of us here with $99,900 BoA cards.

[AverageJoesCredit]

Cant wait to see the movie on Netflix!😄

[Anonymous]

My vote would be that BoA would offer the superior SL to whatever USB would offer.

[Aim_High]

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@Jccflat wrote:

Asking for a family member with a 730fico score and 5 inquiries and $250,000 available credit 6% utilization 

Which of the two is there a chance to get a higher credit line Bofa or us bank ?

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I don't even think this one is close from observing the approvals and limits on My Fico.  Hands down, I think Bank of America will normally give both higher starting limits and more generous credit limit increases to the same profile.   Now if you asked about Wells Fargo versus US Bank, that one would be much closer.  

US Bank in general just has more conservative underwriting, including the well-known 1/12 policy on new accounts.  (Bank of America's policy is a more lenient 3/12 or 7/12 if you have deposit accounts.)  Subjectively, I would estimate if you did an analysis of our approvals, their SLs probably average $5K to $10K lower for similar profiles.  On the upper ends, we've have several members on My Fico with Bank of America credit limits of $50K to $100K and even higher.  It's rare to see US Bank exceed $50K.   One member recently CLI'd an Altitude Reserve up to $60K with heavy spend and I think that is the highest I've seen reported.