Posted by Chuck on May 17, 2018
Credit Cards

Published on May 17th, 2018 | by Chuck

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Bank of America to Stop Hard Pulling for Credit Limit Increases

Starting Monday, Bank of America will stop doing a hard pull for credit limit increases and cash advance increases, according to a source familiar with changes at the company.

Until now, Bank of America has always said they were legally required to hard pull; they’ve now reconsidered that stance, apparently. Limited anecdotal evidence indicates the change may have already been implemented, but it’s said to become official on Monday.

In the past, credit reallocation among BofA cards sometimes resulted in a hard pull and sometimes did not. Presumably, once the change goes into effect there won’t be any hard pull for reallocation either, same as increase.

We’ll update the post Which Credit Card Companies Do A Hard Pull For A Credit Limit Increase?.

 



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Duke I.
Duke I.

Will they also stop doing a hard pull to move credit lines?

irshad
irshad

That is good news. I always wanted to my limits on BOA cards but the hard pull was not worth it.

SCJ
SCJ

I will certainly try after having the red 123 since 2012 with a sl of $500! I’ve only had 3 harpulls since then. 3 being for my one car loan. I’d say my chances are good. Can’t wait to try it thanks!!!!

Simon
Simon

ah too late! just cancelled my Alaska card a week ago and wanted to move the credit line to another boa card of mine. They tried to do a hard pull for the credit line increase and I gave up and closed it outright..

Sam Billo

I made a credit line increase from 5k to 10k on my BOA card already back in dec 2017 and they did not pull my credit.

Snorlax
Snorlax

“Bank of America has always said they were legally required to hard pull”

How silly! Checking a customer’s credit report doesn’t require a “hard” pull and the law doesn’t differentiate between “soft” and “hard” pull anyways.

Ben
Ben

Perhaps a stupid question – does anyone do a pull for a credit limit DECREASE?

Snorlax
Snorlax

No, I get credit line decreases with most of my cards (don’t like having more than a ~$8k limit each card) and I’ve never been HPed.

David
David

Why would you ever want to decrease your credit limit?

Boyang
Boyang

Too much credit limit may result in a FR I guess? especially for AmEx

Electroman
Electroman

I’m not the guy you asked, but I do it and it is to free up credit for new card apps.

Ben
Ben

The recent round of Chase shutdowns that seem to be related to bust-out risk. I don’t know for sure, but I would bet your risk score goes down (and you can fly under Chase’s radar) by reducing your total credit limit. I want a new Chase card in the coming weeks, so I’ve been asking them to lower my limits on some of the crazier cards in my portfolio (e.g. they gave me a $32K limit on my Hyatt card, and there’s no chance I would ever use more than 5% of that).

MarcoPolo
MarcoPolo

Once I called Chase to lower my credit limit on one card.
Unfortunately it resulted in a FR right there and then. As a result ALL of mine and P2’s Chase cards were shut down.
That was years ago and after 5 years or so we kissed and made up.

Vic
Vic

Do you not lower your credit limit?

The primary benefit for lowering credit limit is to increase the chance for future instant approval for Chase and Citi. We’ve seen a lot of DP showing that having high existing credit would prevent instant approval. Both Chase and Citi would let your application go pending and later call you (or you call them) to move credit limit around to get the new cards approved.

Ira Alter
Ira Alter

Chuck, you should get your info right before you post..I called BoA and they do hard pulls on credit card increases only so your info is bogus!

William Charles

Did you even read the post? It says that they will stop doing hard pulls on credit card limit increases starting next Monday.

Munchy
Munchy

Well for all you know, he time traveled into the future and called them on Monday, so there!

William Charles

That’s true, my bad for making assumptions.

Albert
Albert

I am confirming that Bank of America is now doing a soft pull for credit limit increases. I called in and confirmed this with a rep. She was unaware of the new policy but confirmed that there would NOT be a hard pull with a supervisor. I went ahead and requested a 10,000 dollar increase and it was granted. I checked all 3 credit bureaus and no inquiries are present.

creditguy
creditguy

you called BOA and accepted info from front line reps?

boyLoco
boyLoco

HA! Not many agents are informed of this. Ask always for a supervisor. Frontline reps usually don’t bother to learn about their jobs until they make mistakes. Confirming info always helps but always go for the main source.

Brian
Brian

Wow, BOA sucks just a little bit less today.

Traveling Thomas
Traveling Thomas

https://marthastewartwine.com/amex

Enjoy 15 bottles of Martha-approved wine for just $99 ($190.36 value) when you pay with any American Express® Card from 05/01/18 to 07/01/18.

Includes shipping and a french-designed sommelier corkscrew ($23.99 value) plus $25 off your next purchase of $75 or more. Terms apply*

J T
J T

Is the corkscrew a hard or soft pull?

Jf
Jf

That nice part was a tu inquiry vs exp plus valid for 30 days for apps…

Diomaiuti
Diomaiuti

Ok, a not-too-useful DP here, but … Tried requesting a CLI on my only remaining MLB card yesterday with all 3 major CRAs frozen. Got a call from a credit analyst today who said I needed to unfreeze to proceed. When I asked, she confirmed that the change to soft is “coming.” I guess I may hit the button again on Monday.

cedkarpar
cedkarpar

I called today and the rep said to wait until Monday or it will still be a hard pull. Does anyone know how much BoA usually give on CLI? I only use the card for 0% apr period. I am at 56% usage. Current 4500 CL hoping to get that increased to 12000. Is that crazy thinking?

Jason Davis
Jason Davis

I’m confused. Says stop hard pulling for credit limit increases but then it says reallocation

emergdoc67
emergdoc67

Maybe that’s just it. They didn’t change any policy today – they’ve not been pulling for reallocation and they have been and continue to pull for credit line increase

David A
David A

I just called BOA and asked the rep and she said a credit limit increase is a hard pull

Andrew N
Andrew N

I was also told hard pull

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