Long story short, I just ran my credit info here now with MyFico ScoreWatch and got some info, my Fico Score is 680 (not bad right after a short sale not too long ago?) Short Sale on my property in Dec 09. 30 Day Late - March '08 60 Day Late - April '08 90 Day Late - May '08 120 Day Late - June '08 -> Nov '09 Stopped reporting on Nov '09, Short sale occurred in Dec 09 so the Nov '09 was the last 120 Day Late report. Remark: Settled. That is the single ONLY thing negative on my account, everything else is and always was perfect with no late payments as seen below: Amex Gold Card Balance: $1,200 (obviously paid in full each month) High Balance: $5,853 Opened: 02/2004 Merrill+ Card (Merril Lynch) Balance: $746 High Balance: $5,705 Credit Limit: $5,300 Date Opened: 09/2007 Bank of America World MasterCard Balance $64 High Balance; $1,468 Credit Limit: $500 Date Opened: 10/2006 Macy's Store Card Balance $0 Date Opened: 09/1998 Like an Idiot before I researched all this a few months (about 5) after the Short sale when my credit was at the lowest I requested a CLI on my BoA Card, and the dropped that card to $500 from $10,000 (ouch) and dropped my Merrill Lynch+ card from $16,000 to the balance of $5,300. That hurt alot, so I paid it down as you can see above. I am sending a $350 now to Merril+ Card to have it at $350 of $5,300 credit limit to lower util more.... My question is , do you think its safe now to request a CLI for the World MasterCard to get it atleast to $1,000 from the $500 its at? or wait even more?? Last thing I want, is to request a CLI and get it lowered yet again. Has enough time past or should I wait more??? Combined income for my wife and I is around $90k, $1,000/mo rent, no car payments. Would they raise my limit or hit me down again?? Also, any other suggestions you all may have to raise my overall score, hit me with it!
It's impossible to really tell how BofA will respond. Every credit issuer is responding to these requests differently, and CLIs are still getting shot down more often these days than not. However, if you ask and get denied, I seriously doubt they would cut your limit even more below $500.
