Since their own crisis--have you had experiences with getting new cc or getting CLI on existing cc? Are they generous with initial CL? Which CRA they pull for new cc? For CLI on existing cc they pull soft or hard?
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Aren't Merrill Lynch cards issued by FIA? And isn't FIA actually BofA?
inxces said:Aren't Merrill Lynch cards issued by FIA? And isn't FIA actually BofA?
Yep... it is FIA. I applied for a ML visa a few months ago and got it. CLIs are soft pull (just like BoA) At that time, they were very generous with the CL, although I don't know now, based on credit market conditions.
They hard pulled EX for application.
Thank you for responses.
I have a 27k line with them if that answers your question.
And yes, experian pull!
From recent experiences with B of A, they look at very carefully their total exposure with you. That is when you apply for a new card, they likely grant it but reduce equivalent, or close to, CL from an existing cc. So your total CL is the same, or about the same, as before---but they generated a new cc and likely a new fee.
Their new approach is copied from CrapOne where they figure that with more cards with not more total CL, they generate more fees and profits.
Bump.
They advertise lines up to 250,000 but it's BULL!
I got a 12,500 line and they combined my others to get a 46,000 card. It's just like any other BofA credit card.
win333 said:They advertise lines up to 250,000 but it's BULL!
I got a 12,500 line and they combined my others to get a 46,000 card. It's just like any other BofA credit card.
Agreed... I asked about the 250k CL but the rep seemed confused.
Suggested for friend to apply with 790 FACO: approved for initial CL for $5,000 and EX pull. Any suggestions when to apply for CLI?
I have had this card since it was first issued. The credit limits are very reasonable, but they put a heavy emphasis on current income without adequately considering what one has socked away. Hence for retirees, this might be an issue. That said, most of their customer service agents have basic knowledge of how things work. I have, however, come across a few that seem totally clueless in that they don’t understand the meaning of “payments will be allocated to lower APR transactions prior to being applied to higher APR transactions.” They had the line memorized very well, but could not put it into practice, making me assurances that I indicated to them were incorrect. Needless to say, I called shenanigans and ended up having to speak with a supervisor or two prior to getting things straightened out. They used to be much better. On the positive side of things, they recently had a 1% special for “balance transfers” that lasts for a little over 9 months prior to rate jumping. The fee was capped at $75. Anyway, they don’t seem to be reducing existing lines; but they are stingy about granting increases.
|
 |
|
|
While FatWallet makes every effort to post correct information, offers are subject to change without notice. Some exclusions may apply based upon merchant policies.
