$500? Wow. My first card was $500, and the other one began at $2500 six months later. Then again, I did get my card when there wasn't a credit crunch like there is now, or like there could have been when you got yours.
Well that $500 limit card was issued in 1994, so 13 years ago. Now I don't think I have a card with less than $20k for a limit. Luckily none of them have balances.