3 Ways to Ask for a Credit Limit Increase

3 Ways Ask Credit Limit Increase
David Andrew
By: David Andrew
Updated: July 24, 2014
Experts share their tips and advice on BadCredit.org, with the goal of helping subprime consumers. Our articles follow strict editorial guidelines.

 A higher limit on your credit cards can be a big convenience.

First of all, having more credit means you’d able to spend more without reaching your limit. A higher credit limit can also help your credit score because it makes it easier to avoid maxing out your accounts.

If you want a credit limit increase, there are a few different ways to ask your credit card company.

1. Call the company hotline.

The simplest way to ask for a credit limit increase is to call your credit card company’s service hotline. When you get a representative on the line, tell them you are interested in increasing your credit limit.

The agent will review your account information and should be able to plug your request through a company program that will tell you if you qualify for a limit increase or not.

To increase your chances of qualifying, you should wait until you are in good shape credit-wise before calling.

Make sure you have gone at least six months straight without a late payment and try to pay down your current credit card debt as much as possible.

“This helps your credit score and

makes you look more deserving.”

2. Submit proof of stronger finances.

To improve your chances of qualifying even further, you can mail in more supporting information on your financial situation.

This could be proof of a higher salary, a new job or the completed payment of an old debt like a car loan.

All of these items make you look like a better credit-risk but might not show up on the company’s calculation when you call over the phone.

When you call the company hotline, ask to mail this information in before they make a decision on your credit limit.

3. Apply for a new card and transfer the limit.

If the credit card company will not increase your credit limit directly, you might have an indirect way of getting a higher limit.

Credit card companies sometimes are more accepting of new accounts than they are of increasing the limit on an old account.

Try applying for a new card with the same company. If you qualify for a new card, ask if you can transfer that credit limit to your old account.

They may be willing to make this swap, and you will end up with a credit limit increase.

By taking advantage of these three strategies, you’ll have a good shot at qualifying for a higher credit limit. Be sure to use this new credit responsibly so you can qualify for an even higher limit later on.

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