Bank Of America Credit Line Increase on Crack

I received an email upgrading one of my cards from a 15k limit to a 30k limit. I logged into my account and clicked on my other two BOA accounts to increase them to 30k and it accepted. I'm not sure if it will be on crack for everyone but it is worth a try as there is no inquiry made.

*** Update ***

I just logged back into my account and looked at the limits and the one that I got the initial email for stating my line had been increased to 30,000 is now at 22,600 (the other accounts remain at 30k now) for no apparent reason. I'm confused and I sent an email asking BOA why they sent me an email false advertising a higher credit limit than what I really had so we shall see what they say.

From the CLI request page (emphasis mine):

____
In factoring our decision for a credit line increase on a personal account, your account performance and credit status will be reviewed. This request will not result in an inquiry to your credit report unless you are notified that it is required, and the decision will not have any impact on your credit history.

To request an increased line of credit, complete the form and click the "Request Credit Line Increase" button. By clicking the "Request Credit Line Increase" button, you authorize Bank of America to review your credit and employment histories and any other information in order to process this application, service your account and manage our relationship with you.
___

I have a line of ~$70K created by consolidating three cards. Card is the Accolades AMEX. I requested an increase to $75K just to see what would happen and got a "we'll let you know later" message.

Have current CL of 55K, requested 75K and rec'd the following message:

"Your request has been submitted. A decision will be made within the next business day. If approved, your new credit line will be presented on the Account Details page and be available for immediate use. If we are unable to approve your request, you will receive notification in writing within 5 to 7 business days."

We'll see what happens. At least no inquiry req'd, so worth a shot. Thanks OP.

Currently: 12,300 on U of Iowa card (just consolidated 2 cards)
Requested: 20,000

"Wait 5-7 days," but no inquiry. We'll see what happens. This would be nice right before my approaching 2nd AOR...

(update) Just rec'd call from BOA. In order to increase my CL from 55K to 75K, they need me to fax over proof of savings, CD's and liquid investments that total 400K or more (that seems to be their minimum req).

I've requested a CL increase a few times from BOA and never gotten anything. No denial, no increase, nothing. It's just like nothing ever happened. I've also sent in the online request to get set up with a premier rep a couple times and haven't heard a single thing. Anyone else have this happen? I'm using firefox with NoScript. I don't see why that would make any difference, but maybe it is mangling the form submission or something.

Congratulations! Your credit line increase request has been approved. Your new credit line of $800.00 is now available for purchases, cash, access checks, and balance transfers.

yay!

I got a 1 day review, 5-7 days to be mailed the rejection letter if they can't approve it.

BoA/FIA aren't the clueless "crack" dealers like Am.Ex. One time I hit the CLI pretty hard over a few months.

FIA called me up, asked how I was doing, what I wanted to do with the credit, and why my income had changed in only three weeks (put new promotion on the income line). They knew every single request I had made.

I don't think they're going to let most people jump 5 cards at once like Am.Ex and I think they are too smart to let you get a CLI, transfer it to another card, and CLI again.

That being said, they just refused my last CLIs, they didn't take adverse action.

SUCKISSTAPLES said: it seems 30-40% CLI increases are being approved, 100% or more CLI increases either not fully granted or get the "wait" message

I requested a $50,000 increase on a line that had a $500 limit. They increased it to $800. It's a card I reallocated credit away from so I thought I'd try increasing the CL on it and then reallocating to the card I use again. It's not a strategy I'd suggest anyone else try based on my results.

My apologies if it's not quite on crack like AMEX. They both appeared instantly on the site for me. The one great thing is that they don't do an inquiry so there is no downside!

got the 1 day review, but in the past hour its been approved

25-> 49k.

Havent checked the cards on the FIA system. Im not touching those , this one has a 0% offer.

Ive started posting results in the quicksummary...please post your original credit line, the decision notice (instant, 1 day, 5-7 etc) the requested CL and the CL granted

SUCKISSTAPLES said: got the 1 day review, but in the past hour its been approved

25-> 49k.

Havent checked the cards on the FIA system. Im not touching those , this one has a 0% offer.

Ive started posting results in the quicksummary...please post your original credit line, the decision notice (instant, 1 day, 5-7 etc) the requested CL and the CL granted

I as well was told I would receive notice in a day. Clearly you received notice quicker than that. How did they notify you?

scotto777 said: I as well was told I would receive notice in a day. Clearly you received notice quicker than that. How did they notify you?

just logged in an hour later and saw the new CL

$15,000 / Instant! / $24,000 / $24,000

Congratulations! Your credit line increase request has been approved. Your new credit line of $24,000.00 is now available for purchases, cash, access checks, and balance transfers.

I have two largely identical cards with $2500 limits (two free ipod offers last year with 2k BT) and currently both have ~$1800 on them.

My results, posting a 50k income and 30k additional income. Home-owner, Teacher/Admin.

Worldpoints card:
$2,500 / 5-7 days / $5,000 / (not yet returned)

MLB card, reporting 50k income and 60k additional income:
$2,500 / 5-7 days / $4,000 / (not yet returned)

While I may have hosed myself by putting different added incomes, if asked I'll just say that I failed to include my parents in the first request. It was for the sake of science. I figured a controlled experiment in the second case, telling them what they wanted to hear, would have a more favorable outcome. No dice.

Judging by the small second request and continued delayed response, it probably makes a significant difference if you actually owe a significant amount on your BoA cards.

Thank you OP for the wonderful thread. My question is that did anyone get instant CLI approval while the card has a balance on it? I currently have a BoA world point with $10800 balance over CL $12500. Any response will be much appreciated.

$3,100 / instant / $15,000 / $6,200

I have done this in the past, and after a couple of successful increases, I have never been successful.

In unsuccessful cases, the response has been "you will get a letter in 5-7 days", and the ensuing letter stated that relative to my income, I already have enough credit across all BofA credit lines.

So that has led me to believe that whether or not you can get an increase is tied to your income and current aggregate credit held across all BofA lines. On the other hand, before I reached that ceiling, I remember being successful several times. Usually, either the approval was either instant, or very prompt.

So may I ask all the posters who had success with the CLI to also post the aggregate income they provided in the form? Perhaps this can help us figure something out about the rules used in approving / denying the CLI.

In my case, the glass ceiling was reached at $37.7K aggregate credit, and my individual ann. income is $74K.

reminice said: For those that have already requested CLI, can you also clarify a few points?

1. What is your utilization for BofA currently?
2. Do you have any BT or amount owed at the moment?

I'd like to gather more info before attempting this. Thanks.

My request was approved instantly. My CL went from 15k to 24k (I requested 24k).

I currently have a 8k balance (BT at 0% for 12 months, 3 months left until the 0% expires). I have never used the card, and only have used the account for the 0% arbitrage.

Hope this helps.

I added a BALANCE column to the QS. For those who have already contributed, it would be very helpful to know what your current balance was when you requested the CLI.

wish i had read this thread before using the magic 'blow up your BofA cards' button. Have a 0% deal from a few months ago going on and wanted to increase the limit a bit to get some more out of it. Today got a bunch of letters, no CLI on the requested card, and they closed an inactive BofA plat card, and also closed my two 1% Schwab cards!! The Schwab cards were both active each month. All 3 closed accounts had small limits of a few thousand each since I had moved the lines to the 0% card a few months ago.

oh well...now if i can just get the last $25 reward check out of the one Schwab card i won't be so annoyed