diff --git a/src/Http/Handler/ResponseHandlerRateLimit.php b/src/Http/Handler/ResponseHandlerRateLimit.php
index 2c31ab10..59797425 100644
--- a/src/Http/Handler/ResponseHandlerRateLimit.php
+++ b/src/Http/Handler/ResponseHandlerRateLimit.php
@@ -1,11 +1,8 @@
-<?php declare(strict_types=1);
-
+<?php
+declare(strict_types=1);
 
 namespace bunq\Http\Handler;
 
-
-use bunq\Http\ApiClient;
-use phpDocumentor\Reflection\Types\This;
 use bunq\Http\RequestRetryer;
 use Psr\Http\Message\RequestInterface;
 use Psr\Http\Message\ResponseInterface;
@@ -17,13 +14,18 @@
 class ResponseHandlerRateLimit extends ResponseHandlerBase
 {
     /**
-     * @var RequestRetryert
+     * @var RequestRetryer
      */
     private $retryer;
 
+    /**
+     * @var string[]
+     */
+    private $retryMap;
+
     /**
      * ResponseHandlerRateLimit constructor.
-     * @param ApiClient $client
+     * @param RequestRetryer $retryer
      */
     public function __construct(RequestRetryer $retryer)
     {
@@ -39,10 +41,29 @@ public function __construct(RequestRetryer $retryer)
     public function execute(ResponseInterface $response, RequestInterface $request): ResponseInterface
     {
         if ($response->getStatusCode() === 429) {
-            usleep(1500);
+            $this->incRetryCounter($request->getUri()->__toString());
+            if ($this->retryMap[$request->getUri()->__toString()] > 2) {
+                // let the error handler further down the stack handle the 429 error
+                return $response;
+            }
+            usleep(1100 * $this->retryMap[$request->getUri()->__toString()]);
             return $this->retryer->retryRequest($request);
         }
 
+        $this->retryMap[$request->getUri()->__toString()] = 0;
+
         return $response;
     }
-}
\ No newline at end of file
+
+    /**
+     * @param string $url
+     */
+    private function incRetryCounter(string $url)
+    {
+        if (isset($this->retryMap[$url])) {
+            $this->retryMap[$url]++;
+        } else {
+            $this->retryMap[$url] = 1;
+        }
+    }
+}
diff --git a/tests/Http/RequestRertyerForTest.php b/tests/Http/RequestRertyerForTest.php
index c92d3346..57d08ff9 100644
--- a/tests/Http/RequestRertyerForTest.php
+++ b/tests/Http/RequestRertyerForTest.php
@@ -1,4 +1,5 @@
-<?php declare(strict_types=1);
+<?php
+declare(strict_types=1);
 
 
 namespace bunq\test\Http;
@@ -14,12 +15,46 @@
  */
 class RequestRertyerForTest implements RequestRetryer
 {
+    /**
+     * @var bool
+     */
+    private $retry;
+
+    /**
+     * @var int
+     */
+    private $calledCounter = 0;
+
+    /**
+     * RequestRertyerForTest constructor.
+     * @param bool $retry
+     */
+    public function __construct(bool $retry = false)
+    {
+        $this->retry = $retry;
+    }
+
     /**
      * @param RequestInterface $request
      * @return ResponseInterface
      */
     public function retryRequest(RequestInterface $request): ResponseInterface
     {
+        $this->calledCounter++;
+
+        if ($this->retry) {
+            $this->retry = false;
+            return $this->retryRequest($request);
+        }
+
         return new Response();
     }
-}
\ No newline at end of file
+
+    /**
+     * @return int
+     */
+    public function getCalledCounter(): int
+    {
+        return $this->calledCounter;
+    }
+}
diff --git a/tests/Http/ResponseHandlerRateLimitTest.php b/tests/Http/ResponseHandlerRateLimitTest.php
index a7a5c4b5..809984bf 100644
--- a/tests/Http/ResponseHandlerRateLimitTest.php
+++ b/tests/Http/ResponseHandlerRateLimitTest.php
@@ -1,4 +1,5 @@
-<?php declare(strict_types=1);
+<?php
+declare(strict_types=1);
 
 namespace bunq\test\Http;
 
@@ -6,6 +7,8 @@
 use bunq\test\BunqSdkTestBase;
 use GuzzleHttp\Psr7\Request;
 use GuzzleHttp\Psr7\Response;
+use Psr\Http\Message\RequestInterface;
+use Psr\Http\Message\ResponseInterface;
 
 /**
  * Class ResponseHandlerRateLimitTest
@@ -14,14 +17,44 @@
 class ResponseHandlerRateLimitTest extends BunqSdkTestBase
 {
     /**
+     * @return array
      */
-    public function testExecute()
+    public function dataProviderTestExecute(): array
     {
-        $sut = new ResponseHandlerRateLimit(new RequestRertyerForTest());
+        return [
+            'retry once' => [
+                new Response(429),
+                new Request('$method', '$uri'),
+                false,
+                1
+            ],
+            'retry twice' => [
+                new Response(429),
+                new Request('$method', '$uri'),
+                true,
+                2,
+            ],
+            'dont retry' => [
+                new Response(200),
+                new Request('$method', '$uri'),
+                true,
+                0,
+            ],
+        ];
+    }
+
+    /**
+     * @dataProvider dataProviderTestExecute
+     */
+    public function testExecute(ResponseInterface $response, RequestInterface $request, bool $retry, int $retryCounter)
+    {
+        $retryer = new RequestRertyerForTest($retry);
+        $sut = new ResponseHandlerRateLimit($retryer);
 
-        $response = $sut->execute(new Response(429), new Request('GET', 'https://whatthecommit.com/index.txt'));
+        $response = $sut->execute($response, $request);
 
         static::assertEquals(200, $response->getStatusCode());
+        static::assertEquals($retryCounter, $retryer->getCalledCounter());
     }
 
     /**