"Need Help From All The Users"
Bank of America® World MasterCard® credit card with WorldPoints® Review
Written by: desihunk17 on 2008-10-26
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desihunk17's review: 
Was approved for this card with 10k... Scores are around 650... Need to know when does Bank of America does credit limit increases... Thank you
Was approved for this card with 10k... Scores are around 650... Need to know when does Bank of America does credit limit increases... Thank you
8 Comments
Comment 1 by colonative
Bank Of America 
on 2008-10-26
Congratulations on the new card. $10,000 is already a solid credit line; especially in the times we are living in now.
That being said, it has been my experiance that Bank of America usually grants credit line increases almost on a yearly basis-depending on the use of the card. You cannot simply sock drawer this card and expect a credit line increase.
Last year my BofA Visa Gold went from $15K to $16K and then this summer it went to $19K. BofA (working under what used to be MBNA) is notorious for giving obscenely high credit lines.
on 2008-10-26 Congratulations on the new card. $10,000 is already a solid credit line; especially in the times we are living in now.That being said, it has been my experiance that Bank of America usually grants credit line increases almost on a yearly basis-depending on the use of the card. You cannot simply sock drawer this card and expect a credit line increase.
Last year my BofA Visa Gold went from $15K to $16K and then this summer it went to $19K. BofA (working under what used to be MBNA) is notorious for giving obscenely high credit lines.
Comment 2 by meya
Re: Desihunk17 on 2008-10-26
Humm, here is a great link for that question, but in the meantime, those questions are getting harder to answer since the economy and banks are so screwed up. Good luck and congrats on the approval!
http://www.financeglobe.com/FN/showthread.php?402
on 2008-10-26 Humm, here is a great link for that question, but in the meantime, those questions are getting harder to answer since the economy and banks are so screwed up. Good luck and congrats on the approval!http://www.financeglobe.com/FN/showthread.php?402
Comment 3 by ashes
Bank Of America on 2008-10-26
I have had an MBNA (now BofA) Card for 5 years now. When I was using it regularly, they would give me CLIs every 3-6 months without asking. I went from 1.5k to 7.5k in 2 years. I stopped using the card 3 years ago because my reward program on the BofA card is 0.5% cash back while my HSBC card gives me 1% on everything. I have used my BofA card sparingly the last 3 years and the CL is still $7.5k. When I used them regularly, the CLIs were often and big.
on 2008-10-26 I have had an MBNA (now BofA) Card for 5 years now. When I was using it regularly, they would give me CLIs every 3-6 months without asking. I went from 1.5k to 7.5k in 2 years. I stopped using the card 3 years ago because my reward program on the BofA card is 0.5% cash back while my HSBC card gives me 1% on everything. I have used my BofA card sparingly the last 3 years and the CL is still $7.5k. When I used them regularly, the CLIs were often and big.
Comment 4 by lindalu
Is BOA Bk Friendly? on 2008-10-27
That is a high credit line!! Anyone know if they are bk friendly? And if so how old does your bk have to be before they would consider granting a credit card..
thanks
on 2008-10-27 That is a high credit line!! Anyone know if they are bk friendly? And if so how old does your bk have to be before they would consider granting a credit card..thanks
Comment 5 by wanderer
BofA "NOT" BK Friendly on 2008-10-29
BofA likes Experian and if there is a BK, a decline follows. Now they will consider re-establishing a person with a secured Bank of America card. I speak with experience. They know Bk CH 7's stay on your credit bureau report for 10 years and they remember you beyond in their own computers. But, they will consider letting you start over even if you stuck them in a BK.
on 2008-10-29 BofA likes Experian and if there is a BK, a decline follows. Now they will consider re-establishing a person with a secured Bank of America card. I speak with experience. They know Bk CH 7's stay on your credit bureau report for 10 years and they remember you beyond in their own computers. But, they will consider letting you start over even if you stuck them in a BK.
Comment 6 by mannfred
BofA "NOT" BK Friendly on 2008-10-30
'''how old does your bk have to be before they would consider granting a credit card'''
Generally, Most of the large prime cc issuers have a seven year period with their BK's. I couldn't get a BoA card til mine was 7-1/2 yeas old. Then I got a 3-K CL which has grown to 22-k over the past 3-1/2 years. BoA has been very generous...
Some of the Cap-1 cards were more BK friendly as I got one of their unsecured cards like two years after my discharge. I had financed a new truck through Ford Motor Credit thou so that probably helped. However in the current credit environment, YMMV.
As far as the original question, I have read where people have grown their CL very aggressively with BoA asking for frequest CLI's. While 10-K is a very good limit, If you use the card wisely, aren't carrying high revolving utilization go ahead and hit that luv button every five or six months and ask for a reasonable CLI, I keep my bumps to 30% of the current CL.
on 2008-10-30 '''how old does your bk have to be before they would consider granting a credit card'''Generally, Most of the large prime cc issuers have a seven year period with their BK's. I couldn't get a BoA card til mine was 7-1/2 yeas old. Then I got a 3-K CL which has grown to 22-k over the past 3-1/2 years. BoA has been very generous...
Some of the Cap-1 cards were more BK friendly as I got one of their unsecured cards like two years after my discharge. I had financed a new truck through Ford Motor Credit thou so that probably helped. However in the current credit environment, YMMV.
As far as the original question, I have read where people have grown their CL very aggressively with BoA asking for frequest CLI's. While 10-K is a very good limit, If you use the card wisely, aren't carrying high revolving utilization go ahead and hit that luv button every five or six months and ask for a reasonable CLI, I keep my bumps to 30% of the current CL.
Comment 7 by lindalu
How Does Financing A Vehicle Help? on 2008-11-02
Did you have the vehicle financed before your bk? snf how does that help? my vehicle is paid off even though I could use a new one it isn't quite time to get rid of it.
thanks
on 2008-11-02 Did you have the vehicle financed before your bk? snf how does that help? my vehicle is paid off even though I could use a new one it isn't quite time to get rid of it.thanks
Comment 8 by rockin35
CLI Every 4 Mos on 2008-11-07
I would say they give me CLI's every 5 months or so. Here lately the last one I had was back in January of this year. I do think the credit crunch is affecting things.
Or it may be every 7 months.
Rockin35
on 2008-11-07 I would say they give me CLI's every 5 months or so. Here lately the last one I had was back in January of this year. I do think the credit crunch is affecting things.Or it may be every 7 months.
Rockin35
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Disclaimer: This content is not provided by Bank of America®. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Bank of America®. Review content is powered by Finance Globe.
