When will bank of america increase my credit limit?

I opened a $500 secured credit card with BofA in october 2007. In October 2008, They gave me the $500 deposit back making my credit card unsecured, but keeping the limit at $500. In July I applied for a credit limit increase and was denied, due to lack of credit.


I pay my bill on time and have always been a good customer, when will they increase my credit limit?|||They review their records each year apparently, as I applied for a card and one year later had my credit limit increased significantly. I'm not near my "anniversary" with them yet, but I assume they will review my account and decide whether or not to increase it. I would have advised you in July to wait until October since that appears to be the anniversary date you come up for review. Not sure what they'll do this October since you asked in July and was denied. Be patient and you'll eventually get there.|||Typically banks review accounts on their anniversay and decide whether to increase the limit or not. In the current economy, banks are not giving out big increases in limits.





Paying on time is the best way to build credit. You are more likely to get your limit increased if you are using 70% or 80% of your limit and paying it off in full every month.|||They are being very cautious right now. Go to the bank and ask them exactly what they need you to do.