YourBank of America credit cardlimit will be based on your credit standing once your application has been approved. The lowest credit limit Bank of America would approve a card for is $200, which is the minimum deposit requirement for the BankAmericard® Secured Credit Card. Other Bank of America credit limits could start out much higher. The Bank of America® Premium Rewards® credit card, for instance, offers a $1,500 minimum credit limit for approved applicants.
Your actualcredit limit will be determinedbased on your credit standing and income, among other factors. More specifically, the higher yourcredit scoreis, and themore income you have relative to your debt, the higher you can expect your Bank of America credit limit to be.
What to Do if You’re Not Happy with Your Bank of America Credit Limit
- Wait for an automatic credit limit increase.If you're unsatisfied with your initial Bank of America credit card limit, you may get a higher one later on. Bank of America periodically reviews accounts for an automatic credit limit increase.These reviews typically occur after you've had the card for at least six months. Automatic increases are not guaranteed, however. How much of an increase you'd receive depends on your payment history, existing debt, and other factors.
- Request a credit limit increase.You can also request a Bank of America credit limit increase through youronline accountor by calling the number you see on the back of your card. Your chances of getting a credit limit increase will be best if you've paid your credit card bills on time and in full during the last six months.It's also a good idea toupdate your income information, especially if it has increased since you first received your card.
It is worth noting that when you request a credit limit increase, Bank of America may ask to do a hard pull of your credit report. This will cause your score to drop a bit in the short term. By comparison, an automatic credit limit increase will only result in asoft pull, which will have no effect on your credit score.
This answer was first published on 05/14/21 and it was last updated on 01/08/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
The Bank of America card that gives the highest credit limit is the Bank of America® Customized Cash Rewards credit card, which has a reported maximum limit of $95,000. Your individual limit will be determined based on your credit history, income, outstanding debts, and other factors.
What is the credit limit for BankAmericard credit card? ›
The BankAmericard credit card credit limit will vary based on each applicant's credit standing. But many cardholders report initial credit limits ranging from $1,000 to $15,000 in some online forums.
Will Bank of America increase my credit limit? ›
Like most other card issuers, Bank of America conducts periodic reviews of credit card accounts to determine eligibility for an automatic credit increase. A credit limit increase can depend on total annual income, monthly housing payment amounts, existing debt, card payment history and more.
What is the average credit card limit America? ›
The average credit limit on credit cards in the U.S. was $29,855 as of the end of the third quarter (Q3) of 2023. That's a 6.8% increase from Q3 2022, when the average credit limit was $27,955.
What credit card has a $100000 limit? ›
On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.
Is $25,000 a high credit card limit? ›
Generally, a high credit card limit is considered to be $5,000 or more, and you will likely need good or excellent credit, along with a solid income, to get a limit of $25,000 or higher.
What is an excellent credit limit? ›
If you're just starting out, a good credit limit for your first card might be around $1,000. If you have built up a solid credit history, a steady income and a good credit score, your credit limit may increase to $5,000 or $10,000 or more — plenty of credit to ensure you can purchase big ticket items.
What is a black credit card limit? ›
Black card credit limit
Like many details with black cards, there's not a clear cut answer. The Centurion® Card from American Express is a charge card with no set credit limit. Amex does have a Pay Over Time option, which allows you to make monthly payments on certain purchases.
Is it hard to get approved for a BankAmericard credit card? ›
You'll need a good to excellent credit score for the best approval odds. This usually means a FICO score above 670. If you manage to be approved for this card, there aren't many perks to it. You'll get common things like online and mobile banking, no annual fee and monthly FICO score monitoring for free.
Why did Bank of America lower my credit limit? ›
As outlined in the Fair Credit Reporting Act, credit card issuers have the right to lower credit limits at will and may do so when a cardholder appears to be in financial trouble. If you missed due dates or carry high debt and only send the minimum payments, the issuer may shorten the limit.
An overpayment will not help boost your credit limit, not even temporarily. Your credit limit remains the same – you'll just have a negative balance that will be applied toward your next statement. Details like credit score and income are usually factored into a credit limit increase.
What credit limit can I get with a 750 credit score? ›
Christie Matherne, Credit Card Writer
The credit limit you can get with a 750 credit score is likely in the $1,000-$15,000 range, but a higher limit is possible.
Is $50,000 a good credit limit? ›
Yes, $50,000 is a high credit card limit.
What credit cards have a $20,000 limit? ›
For those looking for a Credit Cards with $20000 Limit Guaranteed Approval, there are several options available, including the Chase Sapphire Reserve, American Express Gold Card, Ink Business Preferred Credit Card, Capital One Venture X Rewards Credit Card, and the Chase Sapphire Preferred Card.
Can you get a 50000 credit limit? ›
What is the highest credit limit offered? If you have excellent credit, high income and low credit utilization among other variables, issuers may offer you a credit line of $30,000 to $50,000. However, it's possible credit issuers offer a credit limit even higher than that.
What is the highest credit card limit you can have? ›
The highest credit card limit you can get is over $100,000 according to reports from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms. The best high limit credit cards offer spending limits of $10,000 or more.
Is $3000 a high credit limit? ›
a $3,000 credit limit is good if you have fair, limited or bad credit, as cards in those categories have low minimum limits. The average credit card limit overall is around $13,000, but you typically need above-average credit, a high income and little to no existing debt to get a limit that high.
What is the maximum credit available on a credit card? ›
Credit limit is the total amount of credit available to a borrower, including any amount already borrowed. Available credit is the difference between the credit limit and the account balance, or how much you have left to spend before you reach your credit limit.
