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?.
Requested a CLI on the “By clicking the “Submit” button, you authorize us to obtain a copy of your credit report and review your credit…” page. Instant approval with all of my credit reports frozen.
Got a CLI from 5k to 10k when I requested online. No hard pull.
Whenever I go to the CLI part of the boa website it still says “By clicking the “Submit” button, you authorize us to obtain a copy of your credit report and review your credit…”. However I thought they were all SP’s… or… does language mean they still “pull” your report, but it’s a soft now.. not a hard?
In practice, it’s not a hard pull, according to data points. Regardless of what the fine print says.
Just called BOA, and asked for the credit increase. I was told they will do the hard pull. I am confused. The CSR also said request to reallocate the CL is also a hard pull.
Spoke with BofA Credit dept today and the analyst stated they would do a soft pull for a CLI I was looking to get. I got my CLI approved and check my reports and don’t see a hard pull from them. I specifically asked the rep, “so in the past the bank’s policy was that it was mandated by fed regulations to do a hard pull for cli or new app, has that policy changed? Analyst, “yes.”
I asked for an increase after they had given me an increase a couple of months before. It was not automatically approved, and went to manual review. That was about a week ago. Today I noticed they chopped some of my lines back… to lower limits.
Are business cards also a soft pull?
Confirmed!. Just increased my limits no hard pull.
I’ve read a couple of different posts where people have indicated that BoA will immediately report a CLI (and presumably the current statement balance) to the CRAs. The last data point I could find, however, is back in 2017. Can anyone who recently received a CLI (congrats, btw!) confirm whether their reports were refreshed soon after?
Today is 6/14, I got CLI with soft even tho I asked the operator twice she said it will be hard but ending up was soft. Phone rep they doesn’t know, BoA didn’t officially announced to their employee so many of their employee never heard of it and gave wrong info. But I confirmed they did soft !