The Bank of America® Customized Cash Rewards credit card credit limit will be based on your creditworthiness once your application has been approved. However, there's no surefire way of knowing your credit limit beforehand as Bank of America does not disclose this information on their website.
What you should know about the Bank of America Customized Cash Rewards credit card credit limit:
There's no surefire way of knowing your Bank of America Customized Cash Rewards credit card credit limit before applying and getting approved.
If you’re not happy with the Bank of America Customized Cash Rewards credit card credit limit you have received, you can request a credit limit increase anytime. You can make a request from your account online or by calling (855) 307-3887.
Requesting a Bank of America Customized Cash Rewards credit card credit limit increase will result in a soft inquiry, and it won’t affect your credit score as a result.
To improve your chances of being approved for a higher credit limit, always pay your bills on time, and stay well below your credit limit.
If you’re looking for a credit card that offers a high starting credit limit, you should consider getting the Wells Fargo Active Cash® Card. This card has a starting credit limit of $1,000. Wells Fargo Active Cash® Card also has a $0 annual fee and requires at least good credit for approval. Plus, you can earn 2% cash rewards on purchases.
Bank of America® Customized Cash Rewards credit card
Bank of America Customized Cash Rewards credit card credit score and other requirements:
Minimum credit score: 750+ (excellent credit).
Other factors: Annual income, employment status, existing debt, payment history, monthly mortgage or rental payment and more.… read full answer
Minimum age: 18 years old for U.S. citizens. Must provide proof of independent income to make monthly payments.
Personal information: Includes name, address and birthdate. Must give a physical address, not a P.O. Box. You will also need one of the following: a Social Security number (SSN), a passport or an Individual Tax Identification Number (ITIN).
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Bank of America Customized Cash Rewards credit card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.
Since all these criteria are taken into consideration, you might be able to get approved with a slightly lower credit score. But it’s best to wait to apply until you meet the Bank of America Customized Cash Rewards credit card credit score requirement. You can check your credit score for free on WalletHub.
You can get a Bank of America credit line increase by requesting it online or by calling customer service at (800) 732-9194. For the best chances of receiving a Bank of America credit line increase, you should have at least six consecutive months of on-time payments under your belt. Having more income and/or less debt than you did when you got your Bank of America credit card will help, too.… read full answer
How To Get a Bank of America Credit Limit Increase
Look to see if there is a button for increasing your credit limit. It will only appear if your account is eligible to request an increase online.
Enter your total annual income, the amount of the increase you want, and click “Submit request.”
If you would like to request a Bank of America credit line increase by phone, call (800) 732-9194 and enter your card number. When connected to a representative, tell them you’d like a higher limit. They will ask for your income, desired increase amount and permission to do a hard pull, if applicable.
You will receive your Bank of America credit line increase decision either on the site or by email.
BofA Credit Limit Increases & Your Credit Score
When you request a Bank of America credit limit increase, Bank of America may ask to do a hard pull of your credit. This may cause your score to drop a bit in the short term. But if you get a higher limit, that can help your score long-term.
Anyway, depending on what Bank of America’s computer system decides, they may just do a harmless soft pull of your credit instead.
Bank of America may offer you a credit limit increase without you asking. They’ll periodically review your account to see if you are eligible. A credit line increase from this type of review always uses a soft pull.
To meet the Bank of America credit card requirements, you must be a U.S. resident who is at least 18 years old. Non-resident aliens can only apply for certain Bank of America credit card offers through a local Bank of America financial center. You must also agree to let Bank of America pull a copy of your credit report and employment history.… read full answer
Other requirements are a completed application with all requested personal and financial information, including your name, address, birthdate, annual income and sources for that income. If under 21, the CARD Act emphasizes that you must be able to provide proof of an independent source of income for making payments. You will also be asked for your monthly rental or mortgage payment.
Here are the Bank of America credit card requirements:
Age: Applicants must be at least 18 years old. The CARD Act emphasizes that applicants under 21 need to be able to prove that they have an independent source of income that is enough to make credit card payments. If you’re under 18, you may become an authorized user on someone else’s Bank of America credit card account.
Personal and financial information: Applicants are required to provide personal information such as their name, address, phone number, email, citizenship tatus, country of residence and date of birth. In addition to this, Bank of America also asks for financial information such as employment status, annual income, source of income, and monthly housing payments.
When you apply, enter complete and accurate information in each required field. Knowingly submitting false or misleading information on a credit card application is considered fraud and is illegal. Bank of America credit cards will also have specific credit score requirements. If you don’t know where you stand, you can check your credit score for free, right here on WalletHub. You can also check out our editor’s guide on how to improve your credit score.
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