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Having a high credit limit can positively affect your credit score and can increase your spending power. Unfortunately, you can’t request a specific credit line amount when you apply for a new card. But if the amount you receive isn’t enough, you could consider requesting an increase after a few months of responsible credit card use.
Log in to your online banking account and look for the account summary section. This is where you’ll often find the credit limit amount. If you don’t have an online banking account, or if it seems like a hassle, check your monthly credit card statement or call customer service.
Unlike other credit card issuers, Bank of America doesn’t openly list any eligibility criteria. But as a rule of thumb, you need to have:
Keep in mind, it doesn’t necessarily mean you’ll get a credit limit increase even if you meet these criteria.
If you meet the eligibility criteria, there are four options to increase your credit limit.
In most cases, you may need to provide information, including annual income, employment, a reason for the request, your monthly credit card spend and mortgage or rent payment.
If you do most of your banking online, you can easily request a credit limit increase.
If you don’t have an online banking account, here’s what to do:
Typically, you get a credit line increase as soon as you make the request. In some cases, it may take a few days if the bank needs additional information.
This is probably the easiest way to get a credit line increase, but you have to do your homework first. This means you need to:
If increasing your card’s credit limit seems like an impossible mission, don’t despair. You can apply for another credit card and enjoy additional benefits like a 0% intro APR period, no annual fee, a signup bonus, a rewards program or a combination of all these perks.
The cards in the table below often come with a generous credit line. Note, we can’t guarantee you’ll get a high credit line as it mostly depends on factors, including your annual fee, employment and creditworthiness.
Every financial institution has its own criteria for determining the amount of credit line you receive. But in general, the following factors are taken into consideration:
Bank of America doesn’t provide this information on their website but judging by the practice employed by all other card providers, credit limit increases are made once every six months.
If you need to increase your purchasing power, call Bank of America or request a credit limit increase online. But before you make the request, make sure to use your card actively and pay off your entire balance on time for at least six consecutive months.
If that doesn’t seem like an option for you, consider applying for a credit card to increase your credit line.
A simple student card with modest benefits.
Qualify with bad credit and earn 1.5% on all purchases.
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A card with far too many fees to properly serve its purpose.
The Figure Pay card is free and earns rewards, but it lacks several standard features.
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A simple, zero-frills student card for Teachers Federal members.
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A student card without enough to offer to make it worth it.
