There are three ways to get a higher credit limit: by requesting a credit limit increase, by consistently paying your bill on time and waiting for your credit card company to reward you with a higher limit, and by applying for another credit card from a different issuer. In any case, your odds of success are best if you’ve managed your current credit line responsibly, by paying the bill on time for at least 3-6 straight months and keeping your credit utilization near 30%. Also, unless something in your financial profile changes significantly, you’re unlikely to get a higher credit limit in the months immediately after being approved for a new credit card or a credit limit increase.
Keep in mind that requesting a higher credit limit or applying for a new credit card will likely result in a hard inquiry on your credit report. It’s almost guaranteed when you apply for a new credit card. This will cause a slight dip in your credit score.
Automatic credit-limit increases, on the other hand, won’t affect your credit score. These may occur periodically after your account has been open for at least 6 months. You will need to maintain a good payment history and a low debt level, among other factors, to qualify for an automatic increase. But you may not want to count on this. There’s no guarantee when, or if, the issuer will consider your account for an increase.
For more information, read WalletHub’s full guide on how to get a higher credit limit.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.