How can I get a Comenity credit limit increase for my credit card?

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.... read full answer

How to Get Approved for a High Limit Credit Card

• Apply for a credit card with a high starting limit: Top-notch credit cards such as the Chase Sapphire Preferred® Card typically offer credit limits starting at $5,000. You may find minimum starting credit limits listed in some cards’ terms and conditions. In other cases, you might be able to get some information from cardholders’ reviews.
• Improve your credit score: High limit credit cards typically require good or excellent credit. Before you apply for such a card, you should check your credit score to gauge your approval odds. If you’re unlikely to qualify based on your score, you will need to add positive information to your credit report. Once you’ve established a strong credit profile, you can then target credit cards known for their high initial credit limits.
• Increase your income and reduce your debt: The higher your income is, the better chance you have of getting a new card with a high initial credit limit. Similarly, reducing your debt boosts your odds. Also, if your income goes up in the future, be sure to update your credit card’s information, as this could help get you a higher credit limit.
• Get a credit limit increase: Some credit card issuers may automatically review your account for a credit limit increase every 6 to 12 months, but it’s not guaranteed. You can also request a credit limit increase, either online or by calling the issuer’s customer service department. Keep in mind that requesting a credit limit increase on your own may result in a hard inquiry, which could hurt your credit score.

Ultimately, to have a better chance at getting approved for a high limit credit card, you should also make sure to always pay bills on time, use 30% or less of your available credit, and otherwise make good financial decisions.

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 notify you when you call if they will generate a hard inquiry or a soft inquiry, which does not affect your score. Discover typically uses soft inquiries, but if you don’t accept the credit limit offered and request a higher limit, it will then be a hard inquiry.... read full answer

Hard inquiries will lower your credit score by a few points, but can only affect your score for one year. After two years, hard inquires completely drop off of your credit report. The other thing you need to watch out for is overspending. Requesting a credit limit increase could really wind up hurting your credit score if you use the extra spending power to rack up debt you can’t afford to repay.

Still, the potential negatives that come with requesting a credit limit increase can be managed and are often outweighed by the benefits of having a higher credit limit. The boost in your credit limit could also raise your credit score as long as your spending stays at the same level. The additional credit would lower your utilization, which is the ratio of your balance compared to your credit limit. Ideally, this number should be less than 30 percent for each card. Keeping utilization low tells issuers you’re responsible and aren’t just desperate to max out your card.

Some issuers also extend automatic credit limit increases to eligible cardholders. These increases may occur periodically and do not generate a hard inquiry. To give yourself the best odds of receiving an automatic increase, make all of your monthly payments on time, preferably in full. And give it some time. Issuers tend not to extend automatic increases until you’ve had a card for at least six months. Similarly, if you recently received an increase on an existing account, expect to wait at least six to 12 months before you’re considered for another increase, assuming you manage your account responsibly in the meantime.

You may be eligible for a credit limit increase without asking 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 added spending power, they may automatically grant a credit limit increase without you asking.... read full answer

If you get a credit limit increase without asking, it should help your credit score. To start off, issuers only use a soft inquiry (which does not affect your credit score) for this type of increase. If you ask them for an increase instead, they’re more likely to use a hard inquiry, which can cause a temporary drop in your score. In addition, getting any kind of credit limit increase adds to the total credit you have available, which can lower your credit utilization if you spend the same amount of money (or less) than you did before. Or, it can allow you to spend more without increasing your utilization.

If you want to increase the chances of a credit card company giving you a higher limit without you having to ask for it, there are a few steps you can take.

How to get a credit limit increase without asking:

1. Always pay all your bills on time.
2. Pay off the card you want the higher limit on fully each month.
3. Update your income on the credit card company’s website/app.
4. Keep your account open for at least 6-12 months.

These steps won’t guarantee you a credit card limit increase without asking. But they will certainly help your chances.

If your credit card’s issuer doesn’t grant you an unsolicited increase, you may want to just ask for an increase yourself. While your request will probably lead to a lower credit score, the damage will be small and temporary. And in the long term, a limit increase has the potential to bring your score higher.