May 21, 2024
Fact checked
Written by John S Kiernan
WalletHub Managing Editor
Fact Checked by Alina Comoreanu
WalletHub Senior Researcher
There are four ways to increase your credit limit on a credit card. They include requesting a higher limit from your credit card’s issuer, waiting for your credit card company to automatically raise your credit limit, adding to asecured credit card’ssecurity deposit, and applying for a new credit card account.
Which option you choose depends on what type of credit card you have and whether you’re looking for more spending power or a higher limit for credit-improvement purposes. One complicating factor is that each credit limit increase request can cause a small, short-term drop in your credit score. So, you need to be careful. With that in mind, we’ll help guide you through your options below.
Key Things to Know About Credit Limit Increases
- How to Request One: Credit card issuers allow you to ask for a credit limit increase online, by phone or at a branch.
- Minimum Timeline: You’ll usually need to have your card for at least three months before asking for an increase, but this may differ depending on the issuer.
- Recommended Timeline: It’s best to wait until you’ve made at least six consecutive months of on-time payments before requesting a credit limit increase, to maximize your chances. After receiving an increase, you should wait at least six more months before requesting another.
- Credit Checks: Depending on the credit card issuer, you may need to agree to a hard pull of your credit when requesting a credit limit increase.
- How to Qualify: Aside from making on-time payments, keeping a low credit utilization ratio and paying in full each month can also boost your chances of qualifying.
- Automatic Increases: If you don’t request a credit limit increase yourself, your issuer may periodically review your account and offer you an automatic increase.
- Automatic Increase Pros and Cons: Automatic increases will not use a hard pull (since hard pulls require your permission). But automatic increases aren’t guaranteed and may not give you the amount you want.
Table of Contents
How to Increase Your Credit LimitCredit Limit Increase Policies by Major Credit Card CompanyBenefits of a Higher Credit Limit Disadvantages of a Higher Credit LimitHow Credit CardLimits Are SetVideo: How to Get a Credit Limit Increase
How to Increase Your Credit Limit
- Request a Higher Credit Limit Online
- Wait for an Automatic Credit Limit Increase
- Add to a Secured Credit Card’s Security Deposit
- Apply for a New Credit Card Account
Request a Higher Credit Limit Online
Log in to your credit card company’s website, pull up your account’s main menu and look for the option to ask for a higher limit. Then, answer the questions about your income, expenses and desired credit limit, and submit the request. This option is best with unsecured credit cards that have been open for at least six months, with consistently on-time payments. There may be ahard inquiry into your credit history when the credit card company evaluates your request.
Wait for an Automatic Credit Limit Increase
Credit card companies evaluate existing accounts on a monthly basis, usually beginning once an account has been open for five or six months. If you pay your bill on time every month, you may automatically receive a higher limit. This option is more of a happy surprise than something you can count on.
Add to a Secured Credit Card’s Security Deposit
Secured cards require users to place a refundable security deposit. The amount of the deposit becomes a card’s credit limit. And you can increase your limit by simply adding to your deposit. This option doesn’t let you borrow more, but it may help your credit score improve faster.
Apply for a New Credit Card Account
Opening a new credit card account will likely increase your overall spending power more than requesting a higher credit limit on an existing card. You may even get some extra perks in the process, such as a rewards bonus or a 0% introductory APR. This option is best for people whose credit scores have improved since the last time they applied for a credit card. You cancheck your latest credit score for free on WalletHub.
Compare High Limit Credit Cards
Credit Limit Increase Policies by Major Credit Card Company
Credit Card Issuer | Rules for Automatic Increase | How to Request a Credit Limit Increase |
American Express | Account must be open for at least 60 days with a history of on-time payments | Online or call 1-800-528-4800 |
Bank of America | At least six consecutive months of on-time payments | Online or call (800) 732-9194 |
Barclaycard | At least six consecutive months of on-time payments | Online or call 1-866-928-8598 |
Capital One | At least six consecutive months of on-time payments | Online or call the number on the back of your card |
Chase | At least six consecutive months of on-time payments | Call (800) 432-3117 |
Citibank | Account must be open for at least six months | Online, through theCiti Mobile app, or by phone at(800) 950-5114 |
Discover | At least six consecutive months of on-time payments | Online or call 1-800-347-2683 |
Wells Fargo | Account must be open for at least six months | Call (800) 642-4720 |
U.S. Bank | At least six consecutive months of on-time payments, reduce your outstanding debt, and update the income U.S. Bank has on file | Online, through the mobile app, or by phone at(800) 285-8585 |
Benefits of a Higher Credit Limit
- More Available Credit & Lower Utilization:The more available credit you have, the better, considering thatcredit utilization is a major component of the amounts owed section of your credit score, which accounts for about 30% of your total score. Credit utilization is calculated for each of your cards individually as well as for all of your cards in combination. Having more credit available will decrease your overall utilization as well as the individual ratios of currently tapped out cards you get an increase on. It will also signal to lenders that you are a trustworthy borrower.
- Added Spending Power: A higher credit limit obviously enables you to spend more money. This may be a blessing for some, who perhaps need to finance car repairs or pay medical bills.
- Minimal Credit Score Impact: Requesting and receiving a credit line increase is less detrimental to your credit standing than applying for and opening a new credit card. Yes, requesting a credit line increase will likely result in a hard credit pull, but the damage won’t be too severe. Using the higher credit limit responsibly will also lead to credit score gains.
Disadvantages of a Higher Credit Limit
- More Debt Potential:U.S. consumers owe more than$1 trillion in credit card debt. We obviously have an overspending issue, and that clearly illustrates the danger inherent with a credit limit increase. Used irresponsibly, the added spending power could wind up representing the rope needed to hang your finances.
- Inability to Get Other Loans & Lines: The more credit you already have at your disposal, the less likely another financial institution will be to extend you additional credit in the future. Your income and assets only enable you to support so much debt, after all, which means that a higher credit limit could make you less lendable moving forward.
How Credit CardLimits Are Set
Credit card companies all do things a bit differently, but most base their credit limits on the same overall factors.
- Credit History & Disposable Income: The more disposable income you have and the longer your track record of financial responsibility is, the higher your spending limit will likely be.
- Economic Climate: If the economic outlook is gloomy, credit card companies are much more likely to be conservative in their credit offers to all of their customers. In these cases, even if your credit score has risen, you might not be granted additional credit.
- Security Deposit: The security deposit on a secured credit card is typically equal to the credit limit. To increase your credit limit, you can deposit more funds.
- No Preset Spending Limit: Another segment of the credit card market never actually discloses exact spending limits, even once your account is active.No Preset Spending Limit credit cards and charge cards – which some consumers mistake to be limitless – have dynamic spending limits that are established on a monthly basis.
To learn more, check out WalletHub’s guide on how credit limits are determined.
How to Increase Your Credit Limit FAQ(15 questions)
Editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.In addition, WalletHub independently collected information for some of the cards on this page.
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22
Upvotes
How long does it take to increase your credit limit?
Reply
22
Chip Lupo, Credit Card Writer
@CLoop
It could take anywhere from a few minutes to 30 days to increase your credit limit from the time you request the increase, depending on the issuer and your credit profile. When you request a credit limit increase, the issuer will review your annual income, existing debt, and other factors. If you are approved, you'll typically have immediate access to your new credit limit.
Key Things to Know About How Long It Takes to Increase a Credit Limit
- It's best to wait at least six months from when you open an account to request a credit limit increase, and to wait 6 to 12 months between requests.
- Depending on the card issuer, a credit limit increase request may result in a hard inquiry on your credit report, which could bring down your credit score by a few points.
- You should make your request when your odds of approval are highest – for example, after getting a bump in your income.
- Some credit card issuers may periodically review your account to determine if you qualify for an automatic credit limit increase. Automatic increases do not involve a hard inquiry.
- Average credit limits increase over time, and it could take years to get a high credit limit. Typically, the longer your accounts have been open, the higher your credit limits will be.
Keep in mind that credit limit increases aren't guaranteed, either automatically or by request. Even if you have a high income, a good credit score, and little debt, you may not get your requested increase amount, or any increase at all. Credit limit increases may be affected by other factors such as the credit card issuer's policies, your history with the issuer, or current economic conditions.
21
Upvotes
Can I get a credit limit increase without asking?
Reply
21
WalletHub
@WalletHub
Yes, it's possible to get a credit limit increase without asking, typically after 6-12 consecutive months of on-time bill payments with a new credit card account. Credit card companies need evidence that you can handle your current spending limit responsibly before giving you the ability to borrow more.
Creditors will review your credit, income, and payment history on a regular basis moving forward. If they feel you can afford an increase and refrain from abusing the...
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5
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20
Upvotes
Should I increase my credit limit?
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20
WalletHub
@WalletHub
You should increase your credit limit as long as it won't make you overspend. Getting a credit limit increase does more than just give you increased spending power. It also gives you the potential to lower your credit utilization, which can benefit your credit score. But just because receiving a credit limit increase is a good thing does not mean it's always the right time to ask for one.
You shouldn't ask for a higher credit limit...
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5
20
Upvotes
Does getting a credit limit increase affect your score?
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20
1
WalletHub
@WalletHub
Requesting a credit limit increase will likely trigger a hard inquiry and cause a short-term decrease in your credit score. Receiving an automatic credit limit increase (i.e. your issuer increases your credit limit without you asking) will not hurt your score. No matter how you receive a credit limit increase, it will provide long-term credit-score benefits to responsible users.
A credit limit increase will give you access to more available credit to use. As...
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1
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19
Upvotes
How often can you request a credit line increase?
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19
WalletHub
@WalletHub
You can request a credit line increase every six months, generally. Some issuers allow requests more often, but your chances of being approved for an increase are best if you wait at least six months from when you opened your account or last requested a higher limit.
If you request an increase right after being approved for a new card, it's unlikely that anything will have changed since the issuer made its initial decision about your credit limit....
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1
19
Upvotes
How do I qualify for higher credit limit cards?
Reply
19
Maria Adams, Credit Cards Moderator
@m_adams
You can qualify for higher credit limit cards by paying your bills on time, using only a small portion of your available credit, and not having too much debt compared to your income. Those also happen to be some of the most important ingredients for a good or excellent credit score.
So, it should come as no surprise that people with good credit or better tend to get the highest credit card limits. But anyone can try...
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3
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19
Upvotes
How do you get approved for a high limit credit card?
Reply
19
Chip Lupo, Credit Card Writer
@CLoop
To get approved for a high limit credit card, you will need good to excellent credit and proof that you can afford a high spending limit. More specifically, your credit limit will be determined by several factors, including your income, assets, and existing debt obligations. Picking the right credit card goes a long way, too.
How to Get Approved for a High Limit Credit Card
Improve your credit score
High limit credit cards typically require...
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5
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23
Upvotes
What are the best credit cards with a $20,000 credit limit?
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23
Christie Matherne, Credit Card Writer
@christie_matherne
There are no credit cards with a $50,000 credit limit guaranteed. However, it is possible to get a credit card with a $50,000 credit limit if you have excellent credit, a very high amount in income and assets, and little debt (if any).
While there are no credit cards with a $50,000 minimum credit limit, there are some options with minimum limits of $5,000 or $10,000 that many people claim to have gotten $50K+...
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21
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Does requesting a credit limit increase hurt your score?
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21
WalletHub
@WalletHub
Requesting a credit limit increase can hurt your score, but only in the short term. If you ask for a higher credit limit, most issuers will do a hard “pull,” or “hard inquiry,” of your credit history. A hard inquiry will temporarily lower your credit score. Bank of America, Barclays, Chase, U.S. Bank and USAA will conduct a hard inquiry if you request a credit limit increase. American Express, Capital One and Wells Fargo will not. Citi will...
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5
20
Upvotes
How do I get a Credit One Bank credit limit increase?
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20
5
Chip Lupo, Credit Card Writer
@CLoop
Credit One might automatically increase your credit limit after six months, or you can request a Credit One credit line increase online or by calling (877) 825-3242. For the best odds, pay your bill on time for at least six straight months, reduce your outstanding debt, and update the income Credit One has on file.
How to Get a Credit One Credit Limit Increase Online
- Log in to youronlineaccount.
- Choose...
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