How do you get a Bank of America credit line increase?

No, a Bank of America credit limit increase will not result in a soft pull, unless the bank raised your credit limit automatically. Therefore, if you request a credit limit increase, this will result in a hard pull, which will temporarily drop your credit score by a few points. By comparison, an automatic credit limit increase will only result in a soft pull, which will have no effect on your … read full answercredit score.

It is worth noting that Bank of America only gives automatic credit line increases to select cardholders, depending on their creditworthiness. But you also have the option to apply for it yourself.

Here’s how you can request a Bank of America credit limit increase:

• Online: You can apply for a Bank of America credit limit increase by signing in to your online account. You’ll need to enroll in online banking if you haven’t already.
• By phone: You can also request a credit limit increase by calling customer service at (800) 421-2110.

You can request a credit limit increase anytime you want, but this doesn’t guarantee that it will be approved. So, unless there’s been a change in your financial circumstances, like a pay raise or a debt paid off, you’re unlikely to get one more than once a year.

Your Bank of America credit card limit will vary based on your creditworthiness. 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.… read full answer

Generally, cardholders with at least good credit have a better chance at receiving higher credit limits. Your actual credit limit will be determined based on your creditworthiness and income, among other factors. The higher your credit score is, and the more income you have relative to your debt, the higher you can expect your Bank of America credit limit to be.

Here’s how you can get a Bank of America credit limit increase:

• Get 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 your online account or by calling the number 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 to update your income information, especially if it has increased since you first received your card.

Ultimately, 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. This may cause your score to drop a bit in the short term. By comparison, an automatic credit limit increase will only result in a soft pull, which will have no effect on your credit score.

Bank of America will automatically increase the credit limit for eligible credit card accounts based on periodic account reviews that typically begin six months after an account is opened. Automatic credit limit increases are done at Bank of America's discretion, and there's no guarantee when one will occur.

How to Get an Automatic Credit Limit Increase From Bank of America… read full answer

You don't have to do anything for Bank of America to review your account for an automatic increase. However, taking the following steps will boost the odds of getting Bank of America to automatically increase your credit limit:

• Pay the bill on time for at least the first six months that you have the card.
• Keep your credit utilization below 30%.
• Update your account profile if your income has gone up since you applied for the card.

How a Bank of America Automatic Credit Limit Increase Affects Your Credit Score

A Bank of America automatic credit limit increase requires a soft pull of your credit, which does not affect your credit score.

Bank of America may offer you the option to decline the automatic credit limit increase amount and request a higher increase. If you decline and ask for a higher amount, Bank of America will conduct a hard pull on your credit report, but they cannot do so without your permission.

A hard pull may lead to a slight decrease in your credit score, but your score should bounce back after a few consecutive months of timely payments. You can keep track of your progress with free daily credit score updates from WalletHub.