Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

If you have a BoA / BofA Secured card - request a credit line increase button?

The last post in this topic was posted 2545 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

For those of you with BOA Secured cards:

 

I have had this card for 11 months, and am pretty familiar with it, including adding additional security deposits to increase the credit line (which I've recently done actually). I expect that it will unsecure after the first of the year considering payment history, reduced util that will report by 1/1/14 and improved scores.

 

Today, I noticed that there is a 'request a credit line increase' button on my login page. I've always called in to do the increases before, so I'm not sure if this is new, or I've just overlooked it before. Do those of you with this card see this option upon login?

 

Thanks in advance.

Share this post


Link to post
Share on other sites

It was there when my most recent BOFA secured card was still secured. (>1 yr ago)

 

FWIW not so certain depositing additional funds makes much sense when it comes to graduated limits, though that may have been my floating a balance for two months which BOFA seems to hate. Kicked it from 2K to 5K and graduated at 2.5K. Oh well, took it anyway :).

 

Lot of other people anecdotally reported their own $300/500ish limits getting kicked up substantially to around the 2K mark.

Edited by Revelate

Share this post


Link to post
Share on other sites

Thanks Revelate - good to know. I just wanted to be sure that I had a good limit available upon graduation in case they don't substantially increase. I'll be using this card for an overseas trip next year as it's a chip card and has no foreign transactions fees, so while I anticipate graduating prior to the trip, I wanted to be sure to have ample credit available regardless.

Share this post


Link to post
Share on other sites

The last post in this topic was posted 2545 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Similar Content

    • By Menta33
      I'm trying to help a friend with an Auto Loan that was at Bank of America that is now paid off. BofA is reporting 30 days late Aug 2011, 30 days late Dec 2012, and 60 days late Jan 2013.

      I am looking at the Metro 2 — 2012 Credit Reporting Resource Guide to understand how and when 30-day and 60-day lates are to be properly reported. In there I read:


      They then give an example of a payment due on January 15th and how it should report on the first of each month:
      January 1st: 0-29 days late (code 11) - no payments past due February 1st: 0-29 days late (code 11) - one payment past due March 1st: 30-59 days late (code 71) - two payments past due April 1st: 60-89 days late (code 78) - three payments past due This BofA loan appears to have a due date of the 1st of each month and a 5% late payment charged on the 12th of each month (unless that is a holiday or weekend, then next business day).

      The Metro 2 guide states later:

       
      Later I see this section on Date of First Delinquency:


      None of the CRAs show a Date of First Delinquency for this account, the field only appears on Equifax and is blank there, no mention of DOFD on any other CR for this tradeline.

      After analyzing the report supplied of the complete payment history on the account, this is what I find:
      The due date appears to have been the 1st of each month. A late charge of 5% is charged on the 12th of each month if payment not received by close of business on that business day. I don't know what day of month Chase reports to the credit bureaus, but I am assuming it is the first of each month, but perhaps it is last day of the month? How can I find this out? Account was 30 days late on August 31, 2011 Account was 30 days late on October 1, 2011 Account was 30 days late on December 31, 2012 Account was 60 days late on January 30, 2012 Only if BofA reports on the very last day of each month would their reporting be accurate if the due date is actually the 1st of each month.
       
      How can I know for certain what day of the month BofA reports to the credit bureaus? How can I find out for certain what day of the month payments were due and what their late payment charge policy is? Should I ask BofA to produce a signed contract for the loan? So far they've only provided a computer printout of the payment history.
    • By theknowerofstuff
      Normally, I know the answer is no.
       
      I have had BOA for about 7 years. They started off as a deposit credit card and graduated. The amount never has increased, I wont ask for one since they pull all three. They charge a fee of $79 annually and wont budge. They have offered to open a new card, but I will still loose all the time since they wont transfer it to a new card. My score is over 750 now (thanks CB!) Should I just walk away from it?
    • By funkiehouse
      Noticed this on the Barclays site. Any thoughts on this? Is there a BOA US Air product I don't know about? I think there use to be a BOA US Air debit card...
       

    • By bunyan
      Hello,
       
      I already had one $5000 Cash Rewards Visa with BofA and a $300 limit Signature Visa as well. The $300 Visa was open since 2007. The $5000 limit one has been open since 2011. I also have a $2500 Amazon store card since about 2011 and a Capital One Quicksilver Visa with an $800 limit, and a Capital One Platinum MasterCard with a $700 limit. Have had both of those since 2010. The $5000 BofA Cash Rewards card, Amazon Store Card, and both Capital One cards have all been as the limit since last summer. I never had any late payments. I have had my checking account with BofA since 2007. I also have a business account with BofA. No Money Market amounts or anything like that with them. My Experian score is 726 (That's who they pulled)
       
      I was in the branch on Monday and the teller said I had a Credit Card offer. So I sat down with the representative, and had him put in an application for another Cash Rewards Visa with a $5000 limit. That was instantly approved and I got the credit card in the mail yesterday. So today I'm at work and decide to call in and do a balance transfer from my other cards to my new card. While I'm talking to the CSR I ask if he thinks I can get a CLI to 10 or 15 grand. He said he thinks I can and maybe they won't even do another inquiry since I just got this card yesterday. I said ok go for it. 15 grand. He doesn't get an immediate answer back and says I should hear something in the next 3 days. This was around 1PM today. I check my account at 4 and I see my limit is up to $15000 on my new card. Wooo hooo! The CSR also said that I can get a cash advance for up to my maximum credit line at 0% until April of 2016. Fees are 3%. He already had approved me for $4800 (Since my initial credit limit on the new card was only $5000) but said once I get my CLI just call him back and he can give me more.
       
      I'll be calling him Friday! Lol I'm gonna put all my other card balances on here so I can get the 0%. They'll be paid off well before then.



  • Member Statistics

    • Total Members
      179,603
    • Most Online
      2,046

    Newest Member
    ZSIMBA
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines