How to Increase Your Bank of America Credit Card Limit
Are you feeling stuck with your current low credit card limit? The benefits of increasing your Bank of America credit card limit to a higher limit go well beyond the ability to spend more. A higher credit card limit can improve your credit score and prevent fees from maxing out your balance.
In addition, a higher credit card limit provides more cushion for life's emergencies and can reduce the risk of spending beyond the credit limit, which can incur fees or damage your credit card score. Now that you know the benefits of increasing your Bank of America credit card limit, it's time to learn more about the process and how DoNotPay can simplify the steps if doing it alone becomes too much hassle.
How Bank of America Credit Limit Increases Work
Bank of America based on your credit at the time you applied for your card when they issued the credit limit. This can change rapidly as life circumstances change. It may have also been influenced by certain minimums applied to new cardholders.
With time and proof of good payment history, increasing your Bank of America credit limit is a natural part of the cardholder and card issuer business relationship. That doesn't mean it comes automatically, though it could if you are willing to wait long enough. However, if you can't or don't want to wait, you can always ask them directly.
Some of the factors that most credit card companies consider when they receive a credit limit request include:
- Payment history
- Credit history
- Credit score
- Hard credit inquiries
- Utilization rate
When Can I Request a Credit Limit Increase From Bank of America?
When you log in to your online Bank of America account and go to the account summary/card details section, it will indicate if you are automatically eligible to apply for a credit line increase. However, even if you aren't automatically qualified for the request, you can still call and ask for consideration.
If your card is fairly new or you have recently had a request declined, it may not be the best time to submit a credit limit increase request. However, here are some common events that may signify a good time to request a limit increase:
|New job/raise||Banks know that if you have an adequate income and a job, you may be able to pay your debts.|
|Good credit||Banks often offer higher credit limits and lower interest rates to people with good credit.|
|Great payment history||Excellent payment history often contributes to quick approval of credit limit increase requests.|
Remember that a request to increase your credit limit can initiate a hard inquiry on your credit report. If you have recently made other credit inquiries, this can hurt your credit score. The best way to determine if Bank of America will make a hard pull on your credit with a credit line increase request is to ask first.
Whatever your current situation, researching your options for credit limit increases is always a good option.
Steps to Take To Request a Bank of America Credit Card Limit Increase
Your Bank of America credit card gives you the flexibility to make virtually any type of purchase anywhere. This versatility makes it so enticing. However, when a low credit card limit decreases your ability to utilize it as intended, its usefulness begins to suffer. If you request a credit limit increase, it can regain the utility of your Bank of America credit card.
There are two ways to request a Bank of America credit card limit increase: online and phone. We'll first review the steps for an online request.
- Have your Bank of America credit card in hand.
- Sign in to your Bank of America online banking account. Reset your password if needed.
- Locate your credit card account by matching the available numbers to those on your card.
- Go to the Account Summary.
- Locate the Card Details section.
- Select the Request a credit line increase option.
- Provide the requested information, which may include current employment and income information.
- If it says you are not eligible for an online credit line increase, you will need to move to the phone request option.
To request a Bank of America credit line increase by phone, follow these steps:
- Locate the customer service number on the back of your credit card.
- Be prepared to provide personal identifying and qualifying information, including needing access to email or text confirmation.
- Cycle through the phone tree options until you reach the appropriate line.
- Wait on hold or request a callback.
- Verify personal account information.
- Make your request increase.
- Obtain verification and details on when the new limit will be determined or confirmed.
No time for all of that? No problem. DoNotPay understands you have other things to do. We're here to help make the process faster, easier, and more successful, so you can get back to doing the things you love.
Request Your Bank of America Credit Limit Increase With the Help of DoNotPay
Credit cards are supposed to make life easier, not more complicated. With the help of DoNotPay, you can get the credit limit increase you need without all of the hassles you don't.
How to request higher credit limits using DoNotPay:
If you want to request higher credit limits but don't know where to start, DoNotPay has you covered in 6 easy steps:
- Go to the Credit Limit Increase product on DoNotPay.
- Select which type of card you own and your credit provider.
- Tell us more about your card, such as when you first created this card, your current credit limit, what you would like your new limit to be, your card number, and whether you've missed past payments.
- Tell us more about your current income and expenses and why you would like to request a limit increase.
- Indicate whether you want to allow hard inquiries to be made into your credit history. Upload a copy of your ID and provide your e-signature.
- Submit your task. DoNotPay will deliver the request letter on your behalf. You should hear back from the card provider with confirmation or a request for more information within a few weeks.
Why Use DoNotPay to Request a Bank of America Credit Limit Increase?
Sure, you can spend time and energy tracking downlinks and hold on to the phone, or you can do it the fast, easy, and successful way with the help of DoNotPay. With those two alternatives, why not use DoNotPay?
Can DoNotPay Help with Other Credit Card Limit Increases?
Yes. Below are just a few of the other credit cards DoNotPay can also assist within requesting a credit limit increase:
What Else Can DoNotPay Do to Make Life Easier?
We can't make your bed, but DoNotPay can help with a wide range of other tasks to make your life easier. Here are just a few.
You have a life to live. DoNotPay is here to help simplify the mundane but essential tasks so you can get back to the most enjoyable ones.