Chip Lupo, Credit Card Writer
@CLoop
Comenity Bank will automatically increase the credit limit for eligible credit card accounts based on periodic account reviews that typically begin six months after an account is opened. Automatic credit limit increases are done at Comenity Bank's discretion, and there’s no guarantee when one will occur.
How to Get an Automatic Credit Limit Increase From Comenity Bank
You don’t have to do anything for Comenity Bank to review your account for an automatic increase. However, taking the following steps will boost the odds of getting Comenity Bank to automatically increase your credit limit:
- Pay the bill on time for at least the first six months that you have the card.
- Keep your credit utilization below 30%.
- Update your account profile if your income has gone up since you applied for the card.
How a Comenity Bank Automatic Credit Limit Increase Affects Your Credit Score
A Comenity Bank automatic credit limit increase requires a soft pull of your credit, which does not affect your credit score.
Comenity Bank may offer you the option to decline the automatic credit limit increase amount and request a higher increase. If you decline and ask for a higher amount, Comenity Bank will conduct a hard pull on your credit report, but they cannot do so without your permission.
A hard pull will most likely cause a small decrease in your credit score, but after a few consecutive months of timely payments, your score should bounce back. You can keep track of your progress with free daily credit score updates from WalletHub.
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People also ask
How often can you request a credit line increase?
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....
read full answer by WalletHub, Financial CompanyDoes getting a credit limit increase affect your score?
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...
read full answer by WalletHub, Financial CompanyWhat happens if you go over your credit limit?
If you go over your credit limit, your credit card company may add the over-limit amount to your minimum payment, lower your credit line, or even close the account if you’re exceeding the limit too often. Also, your credit score will drop if the balance is still over the limit when reported to the credit bureaus. That said, it’s more likely that the card’s issuer will simply decline any transaction that would result in the...
read full answer by WalletHub, Financial CompanyDid we answer your question?
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