2nd BofA credit limit increase accepted....in 2 months!

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2nd BofA credit limit increase accepted....in 2 months!

Postby Drauka » Tue Feb 26, 2013 1:00 pm

First, a little background. Up till August 2012 I had never had a credit card in my life. After reading about credit ratings, I decided it was time.

I'm 37, have roughly a 720 score (depending which agency you ask) and make less than 40K a year. I own my home outright, make car payments, and have no other debt besides the standard utility bills.

In August I applied, and was approved for my first two cards; a BofA Cash Rewards (I've banked with them for only 2 years), and a Citi Simplicity. They both had similar initial limits, $1,500 and $1,200 respectively.

I have been taking advantage of the 0% period and carrying a balance from month to month of 30% the available limit or less. I've also been paying more than the minimum per cycle (usually double to triple). At first I put two relatively large purchases, one each card, then paid them down to less than 20% the limit in 3 months. I have since been using them for smaller purchases more often, especially with the Rewards card for Gas and Groceries (using the Chase for Gas now that I have it this quarter) and paying twice per cycle.

After exactly 6 months of having these cards, near the end of January, I asked for a CLI from both. Both cards doubled their limits for me. I also applied, and was approved for a Chase Freedom (3K limit) after they upped my limits. On a whim, just last night, I asked both my original cards for another CLI. My rationale being that if they both slammed me with hard pulls again, it would be no big deal since I wont be seeking a fourth card for at least another year (Thinking Discover 'it'). I asked both for a CLI to 5K. To my extreme shock, BofA approved me for another grand, making my new limit $3,500! :money:

I have no idea what I did to get this, or if it's at all common, but I'm very very happy with BofA right now!

Just thought I'd share in case someone else is in a similar situation and wanted to take the chance.

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