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Bank Of America Credit Limit Reallocation

Bank Of America Credit Limit Reallocation

Old Oct 7, 11, 9:55 pm
  #1  
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Bank Of America Credit Limit Reallocation

I just got approved for the Virgin Atlantic AMEX and wanted to move some credit over from another Bank of America account. I know Chase seems to be really good about moving around credit, but I was curious about experiences with Bank of America?
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Old Oct 8, 11, 11:05 am
  #2  
 
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I never had any problems with moving credit lines between FIA-issued BofA cards. I have a Merrill+ and once my Schwab Invest First converts to BofA, I was promised a transfer of the CL to my Merrill+.
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Old Oct 10, 11, 8:58 am
  #3  
 
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Last time I tried, almost exactly a year ago, the CSR told me that she'd never seen anyone approved to do this (!?) but she'd seen the option in their system. She asked me for income information and ran what I guess was some sort of credit check. I was approved, and I could transfer available credit from another card. She sounded shocked that it worked out!
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Old Oct 10, 11, 1:28 pm
  #4  
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Originally Posted by gatito View Post
Last time I tried, almost exactly a year ago, the CSR told me that she'd never seen anyone approved to do this (!?) but she'd seen the option in their system. She asked me for income information and ran what I guess was some sort of credit check. I was approved, and I could transfer available credit from another card. She sounded shocked that it worked out!
The CSR told me they would have to run a credit check to do it so I didn't want to waste that hard pull on that. Oh well, I will get by, just makes meeting the minimum spend a bit more tedious.
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Old Oct 11, 11, 9:09 pm
  #5  
 
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Smile

I have banked with Bank of America since 1985 and for the most part have been happy. Credit card customer service has been the major disappointment as I have never found them to be very helpful. Granted banks were challenged two years ago, but I called and asked to consolidate the credit lines on 5 cards I had with them (don't ask..they were giving cards away in the early 2000's). Was told they would pull credit, close all accounts but one and consolidate a "portion" of my credit lines. I declined.

Last month I got an mail stating the Merrill signature rewards debit card would no long accrue rewards after November and invited me to apply for the ML signature visa. I did and received the card in 7 days. I read this thread last night and decided to call and ask for a consolidation. The CSR could not have been more helpful. He said I could consolidate as many credit lines to my Merrill card. I asked to keep my visa platinum from 1985 alone (for credit scoring reasons) and transfer the CL from the other 4. One was an old MBNA card with a 30K CL but had an APR of 21.9% (never kept a balance). He asked 6 or 7 questions as if I were applying for a new card (income, employment, mortgage) but said no hard pull when I asked. After 30 seconds he stated that he could transfer $49,600 in CL (had to keep $100 on each of the 4 cards). Then offered that $69,600 in total CL was now available for 1.9% balance transfer until October 2012 which I declined.

I have renewed faith in BofA. Best customer service I have gotten in years. Sorry this is so long, tried to shorten it.
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Old Feb 26, 13, 11:29 am
  #6  
 
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Reallocating credit lines with Bank of America

Anyone has had any experience reallocating credit lines between different cards with BoA and if it results in a hard pull?
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Old Feb 26, 13, 11:59 am
  #7  
mia
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Moderator action

Appended MVF Trekker's question to a previous discussion. Reports are inconsistent.
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Old Dec 3, 14, 9:20 am
  #8  
 
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Called this morning to transfer CL from one BOA card to another. CSR said HP required. Hung up after waiting 5 min to speak to credit specialist.

Will HUCA later. Any recent experience?

Last edited by italdesign; Dec 3, 14 at 9:26 am
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Old Dec 3, 14, 9:43 am
  #9  
 
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Moving or increasing credit limits with Bank of America will almost always result in a hard pull. In my state, they use TU when they do that but EXP when you apply for a new card.
Ask the agent first if she can do it without a HP. In a few cases, I think they might but most of the times expect a HP.
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Old Dec 3, 14, 4:22 pm
  #10  
 
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Too bad. Seems silly to me, but whatever.

So far my experience:

Chase = yes
Barclay = yes
Citi = no
BOA = no
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Old Dec 5, 14, 7:45 am
  #11  
 
Join Date: Feb 2014
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They wouldn't move lines between FIA Fidelity and FIA-BOA branded cards for me.

And yes moving credit lines results in a hard pull for some reason.
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Old Dec 5, 14, 10:08 am
  #12  
 
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I called BoA and tried (as I have done in the past successfully) to consolidate my business m/card and business visa lines.

The guy was helpful and said it had been accepted by the system, no hard pull. he then closed my old card which I had requested. Anyway, it turns out he didn't do it right so I then lost the 17k CL i wanted to transfer! Not very happy but hey.
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Old Dec 5, 14, 5:31 pm
  #13  
 
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I did this on a Friday with BofA during the post 2008 melt down to form a credit line of $X00,000.00 from several cards that has $x0,000.00 credit line on a weekend phone call and I was going to make an extremely large purchase. Monday came and suspect that is when risk analyst come on duty and everything was shut down and I mean everything. It took a while just to get one card activated again.
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Old Dec 6, 14, 2:17 am
  #14  
 
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Not long after the 2008-2009 financial crisis, was able to reallocate CL between various BOA/FIA cards without problem (no additional HP that I know of).
Recently got another BOA card which resulted in a HP (EXP). Called to reallocate CL, and this resulted in a HP as well (TU).
You might need to go into detail that you want to move around CL between FIA and BOA card and specify that FIA is part of BOA. Not all CSRs know/are qualified to do this, so you might need to get transferred to someone who can.
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Old Dec 7, 14, 1:49 pm
  #15  
 
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Originally Posted by Centurion View Post
I did this on a Friday with BofA during the post 2008 melt down to form a credit line of $X00,000.00 from several cards that has $x0,000.00 credit line on a weekend phone call and I was going to make an extremely large purchase. Monday came and suspect that is when risk analyst come on duty and everything was shut down and I mean everything. It took a while just to get one card activated again.
ouch! so you lost all your lines of $X00,000.00?
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