How To Quickly Raise Your Credit Card Limit

Avatar
By:
Checking Credit Card

Having a credit card limit as high as possible is always a good thing, but it’s not something you can get very easily. Actually, you can think about this just once or twice per year, since this is how often credit card companies allow you to make such requests.

Still, you should know that getting a higher credit limit will enable you to take advantage of your good payment history, which can result in an increased credit score!

Of course, having higher credit limits is very important if you want to get approval for high-end credit cards, not to mention that it indicates to lenders that you’re the type to use only what you need, without pushing the limits on how much can you borrow! And without touching that savings accounts you have, that is!

But there’s still one big question left: how can these limits be increased? Actually, it’s easy, as long as you follow some steps:

Always pay on time

This is the basic step. Without having a history of always paying on time and paying your balances in full, there’s no chance for your request for a credit card limit increase to be approved!

Keep asking for an increase

Some card companies consider that a credit limit increase is not a “hard pull” of your credit report and are excellent for this purpose, since your credit score won’t be affected by them looking at the report again and again. Also, remember to ask for an increase which is not bigger than 50%!

Remember, asking too many times makes it more likely for your request to be denied, so stick to two times per year.

Open a new account

Sometimes, it can be better to open a new account instead of asking for an increase on an existing card. Just make sure you check your bank’s offer!

Usually, the cards that offer the highest limits are targeted at people with excellent credit scores, so keep this in mind.

Create your own limit

We kept this for the end. There are some people who have bad credit scores, so they need to create their own higher credit limit, using a secured credit card. Its limit can be increased using a larger deposit and it also offers the ability to ‘upgrade’ to an unsecured card, after making several on-time payments.

virgin america alaska airlines
>