Bank of America will increase your credit limit no more than once every six months. This time frame applies whether you request a credit limit increase yourself or wait for Bank of America to offer you an automatic increase, and it’s typical for credit card companies to have a waiting period between increases.
Keep in mind that your chances of getting a credit limit increase are best if you’ve made the last six consecutive payments for the account on time. Having a low credit utilization rate also helps, as that shows you’re not desperate to borrow more.
How Often Bank of America Increases Credit Limits
- Automatic: It may be possible to get an increase every six to 12 months.
- By request: You can request a credit limit increase every six to 12 months.
- No guarantee: Credit limit increases are never guaranteed, but you can improve your chances with responsible card use and a history of on-time payments.
If you really want a credit limit increase, it’s best to ask Bank of America directly. You should note that this will lead to a hard inquiry into your credit history, which may drop your credit score by 5-10 points. You can learn more about how to increase your credit limit on WalletHub.
This answer was first published on 04/18/23. 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.
