Yet Another Example of BOA's Generosity!

[Uncle_Money]

Hey Gang,

Just thought I would share another example of the generosity of Bank of America. A few weeks ago, I converted my BOA Visa Platinum card to their Amex Accelerated Rewards card. For some reason, they didn't convert it but instead opened a new account. I had a CL of $15,500 on this card. They simply transferred $15,000 to their Amex card, which left $500 on my Visa.

Finally, the Amex showed up in my internet banking today, which is an indicator that the card is on the way. I figured I would take a shot and ask for a CLI on the $500 Visa Platinum. I called in, answered a couple of questions and BAMM! They gave me $5,000.

My advice to increase your chances of a CLI with BOA:

1) Pay your bill in full for at least 2-3 months prior to asking for the increase.

2) Ask for a CLI when you have a ZERO balance.

3) Don't use the LUV button but instead call up and speak with an analyst. They give higher increases than the LUV button.

The above has worked for me each time. Do the right thing with their card and they will do right by you.

BOA gets a thumbs up from Uncle Money!

[tonsers]

Way to go - two great limits with BofA!

When I got my second BofA card, it had a much lower limit than my first. They didn't want to give me a CLI off the bat - so I asked for one on my older card which they granted immediately. I then reallocated my limits so I now have two cards with equal limits.

BofA is awesome - if you treat them well, they will reciprocate!

[Anonymous]

Congrats. That's awesome.

I've been doing everything you say for over 2 years and can't get love from them at all.

[Tons_of_Debt]

Good to know! Once I get my secured card unsecured, I'll have to try this. :-)

[Geordi]

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@Uncle_Money wrote:

Hey Gang,

A few weeks ago, I converted my BOA Visa Platinum card to their Amex Accelerated Rewards card. For some reason, they didn't convert it but instead opened a new account. I had a CL of $15,500 on this card. They simply transferred $15,000 to their Amex card, which left $500 on my Visa.

Finally, the Amex showed up in my internet banking today, which is an indicator that the card is on the way.

A couple questions for you:
How long from the time you requested the conversion until the Amex card showed up in your internet banking?

Did BoA do a hard pull for the conversion?

I ask these question because I called an analyst and requested the very same conversion during the first week of August. When the phone call ended, the analyst said that I should receive my new card within 3 weeks.

Then 10 days later I get a letter from BoA saying they could not approve my NEW APPLICATION for their Amex Accelerated Rewards card because my Experian report is frozen. Again I called a credit analyst and told them I wanted to CONVERT my Platinum Plus Visa to their Amex Accelerated Rewards card and I didn't want another NEW credit card account.

This time the credit analyst same she had submitted for my account to be CONVERTED and that I should receive my card in about 3 weeks. It has been a little over a week and I am trying to wait patiently.

[Anonymous]

That's very cool...

I have to say though that I don't really agree that having no balance will increase your chance of CLI. I opened my BAC Visa in 11/07 with initial CL of 5k. I BT'd about 4k and paid down to 2500 by April, when I hit the LUV button for 10k and got it. I BT'd to 8k and paid down to 4800 by July, when I hit the LUV button again for 15k and got it.

Bottom line - I think good payment history (and maybe paying way more than the minimum) will do for a decent CLI. And I'm sure not being maxed out helps.

*edited for wrong month

Message Edited by desifink on 09-04-2008 07:34 AM

[ficonovice]

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That's very cool...

I have to say though that I don't really agree that having no balance will increase your chance of CLI. I opened my BAC Visa in 11/07 with initial CL of 5k. I BT'd about 4k and paid down to 2500 by April, when I hit the LUV button for 10k and got it. I BT'd to 8k and paid down to 4800 by July, when I hit the LUV button again for 15k and got it.

Bottom line - I think good payment history (and maybe paying way more than the minimum) will do for a decent CLI. And I'm sure not being maxed out helps.

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Agree with desi...

I started out in December/January with a $3,500 credit line. Now I'm at $19,000. I've received 3 CLI's, 2 via the Web and 1 via phone. My first two increases were when I had 0 balances. Then I got denied once when I had a 0 balance. My 3rd CLI approval came when I had a significant balance last month... 

[Uncle_Money]

1) It didn't show up in my internet banking until three weeks later. When it finally does show, this is an indicator the card has been mailed.

2) Yes, they pulled Experian. I also requested a conversion, but instead they just opened a new account, which is why they pulled my credit report.

3) A week is WAY too soon so be prepared to wait longer. For me, the entire process has taken about one month, perhaps a little longer to complete.

Message Edited by Uncle_Money on 09-04-2008 06:13 PM

[Uncle_Money]

Hi Desi,

This is just the process I use prior to requesting a CLI. It definitely doesn't mean this is the only way to do it. I found that it works for me so I just repeat the process when I want a higher CL

[Uncle_Money]

Hi UpUpUp,

Thanks.

Really? Which card do you have with them? How's your utilization on other accounts?

- UM