A few years ago I had pretty good credit, I was in the 700+ club, and I was issed 2 credit cards by Bank of America, one for $7500 and one for $5000; then we had a couple of deaths in the family and other personal issues which ultimately led to some late pays on my 2 Bank of America credit cards and some other accounts, including 1 collections account for a utility (cable TV). I was notified by Bank of America that they were "taking a proactive approach" to my accounts, they closed the account with the $7500 credit line without my consent (I had it paid off by the time they closed it) and this account now shows on my credit report as "account closed at customer request;" they also dropped my $5000 credit line down to $1000. At that time my score had fallen down into the 530 range.
I have since paid off all of my late pays and currently have less than $3k in total credit card debt, my Experian score has climbed back up to 624. Does anybody know how long it takes to redeem yourself with Bank of America to get them to raise your credit limit? How long should I wait before trying to get another credit card with a decent credit limit, say $5000+? I really need at least one card with this kind of limit as I do travel some and like to have the credit available just in case it's needed.
