They said my DTI (debt to income) ratio was too high. If it was too high, then why did they approve me for the Accelerated Cashback AMEX a month before they closed both accounts. The AMEX had $2,500 limit and the Visa had a $4,500 limit. None of them had balances on them as they were both PIF cards.

The left hand didn't know what the right was doing.

thanks for all your advises.

thanks to kiejon9 for the telephone number.

I decided to call them last Wednesday and was able to speak to them.

I informed them that after submitting an online CLI request, it instructed me to call them. She just asked me a couple of questions, like what is my job and what are my plans for asking an increase. I asked her if it would be a hard pull on my credit report, and she said that it's just a soft pull.

She was very nice to increase my limit to $2,000.
yay!

so far BofA is being good to me... but for how long???


@ hjm331 - if you don't mind, may i ask why BofA closed your accounts?

I lost $7k in credit when BoA closed my accounts about 7 months ago. It was a heartbreaker as one of the cards was one of my oldest credit cards but life goes on.

Colo, I have to agree with you on this one. This is worse than walking on eggshells

Yeah, I have heard it happen to too many people with BofA. Not an awful bank and I am not trying to discourage anybody, but beware...

Colo, I have to agree with you on this one. This is worse than walking on eggshells!

I
Do I give them a call? Do I wait for the letter?

I would be very careful when calling BofA and for that matter, requesting CLI's. They have been taking every cardholder contact as an opportunity to reduce credit lines and close accounts. At least two members here can vouch for that. The only reason I would call BofA personally is to close an account or report it lost/stolen. I think it is best to wait a few more months to request anything from them.

Good luck.

I have a question...

I hit the "luv" button on my Bank of America Student Platinum Visa account last night and it showed me this

Hello that number that you need is 1.888.503.6090, Monday through Friday, from 8 a.m. to 9 p.m. Eastern Standard Time. to talk to a senior credit analysts

In my experience, when I received the 5-7 day message, I was denied for a CLI. I would wait for the letter and see why they denied your CLI request.

I have a question...

I hit the "luv" button on my Bank of America Student Platinum Visa account last night and it showed me this:

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.
* = required


Credit Line
Your current Credit Line is $800.00 We will determine the highest credit line for which you qualify based on your credit standing and the information you provide. If you have a particular amount in mind, please enter that amount below.

Credit Line Requested $
Note]Other Income to Consider:[/B]
To establish the best credit line for this account, you may include other salaries in the household. Alimony, child support, or separate maintenance income need not be revealed if you do not wish it considered as a basis for repayment.

Other Income $ per Year/Month/Week

So I filled it out and clicked on "Request Credit Line Increase" button.

It navigated to a page giving a number to call to "complete request".

I accidentally navigated away from the page without copying the telephone number/printing the page.

I sent an email to their customer service informing them what happened and requested them to send me the number I needed to call in order to complete the request. I got a response, and it said]
Thank you for your inquiry dated 2/2/10 regarding credit line increases.
We are happy to assist you.

We received your credit line increase request trough online banking; you
should receive a response letter within five to seven business days.

[/quote]

Do I give them a call? Do I wait for the letter?

Does it mean a "no"?
Should I let it go and never bother calling them?

Got my hooters mastercard today. $300 limit again. was really hoping for more. 21% interest and a $36 annual fee charged to my account already when i got it. i am not complaining, because the annual fee on this card is lower than my others with annual fees. one question, does anyone know if hooters ever charges an annual fee plus a monthly servicing fee? just asking, because my hsbc card was supposed to have an annual fee, but didnt charge me one and they are charging me $8 a month for periodic membership fee. i think $8 a month it is ridiculous really.

I am anxiously awaiting the results of my application. Also, once and if approved was anyone able to get them to up a credit line right away by threatining to close or not activate account ?

thanks,

I agree with what rlee said; the banks are in control now and they are unlikely to budge with your limit. Keep in mind, almost all issuers from prime to sub prime have spent the last 12+ months closing accounts for any reason they could find. So if you threaten to close it they will probably say that they are sorry to see you go and that you will receive your closure letter in 7-10 business days. Would you mind telling us what card issuer it is? What bureau did they pull? What is your credit score?

If you are dealing with a prime bank (Citibank, Discover, Amex, Chase, BofA, Wells Fargo, US Bank) and you have excellent credit then I would call them and let them know that you need an extra thousand or so for a balanace transfer. That has worked in the past.

If you don't have the greatest score, baddies on your bureau or are dealing with a sub prime bank (First Premier, HSBC-Orchard/Household, Barclay's, Capital One etc) then like rlee said, you are lucky that you got an account and you shouldn't push it.

Your other option is to apply for a secured card; and if you have the means to deposit a large amount of money, then you can have the limit that you want.

Hey all Ive had my barclaycard for over a year now, with no credit increase, how do i go about asking for one??

I can tell you right now, the last time I stopped asking them for an increase was when they told me that the stipulations for an increase is to prove to them that you earn $200k+ per year. Now, unless they changed something over the past 6 months.......

why would they up your credit limit if you threaten to cancel, It's a privledge to get credit not a right, threaten to cancel they will laugh at you and close your account, the only way you will get a increase is paying on time, and sometimes before your bill is due, paying the balance in full always helps, and it can take anywhere from four to twelve months to get a increase.

I got one 3 months ago, 500$ limit AF of $36.

I would just keep what ever you got from them for now, they just sent out change of terms on mine last fall and I had cc of $1200 with no af. Then they wanted $48 af and increase in interest rate. Used card but kept no balance on it. I just closed it due to the term changes.

Hey all ive had my barclaycard for over a year now, with no credit increase, how do i go about asking for one??

If they do not have an option to request a CLI from your account online service, then you will need to call the # on the back of your card to request one. You may check the forums to see if they have a backdoor number as well.