How do I increase my Old Navy Credit Card credit limit?

The credit score needed for the Old Navy Credit Card is 700 or better; this means you need at least good credit to get it. But you’ll need a score of 640+ (fair credit) to have a decent chance of being approved for the Old Navy Store Card.

Your credit score is used to gauge the credit standing of an applicant and is a key indicator to the type of card for which you’ll be approved. However, a credit score alone does not guarantee approval for the Old Navy Credit Card.… read full answer

Things to Know About an Old Navy Credit Card Application

When you apply, your overall credit profile will ultimately determine which Old Navy card you’ll get. Unfortunately, you don’t get to decide which Old Navy card to apply for. The higher your credit score, the more likely you’ll automatically land the higher-tier Old Navy Credit Card rather than the traditional Old Navy Store Card. While the credit score is an important factor in evaluating your application, the issuer will also consider your income, debt-to-credit ratio, payment history, and other criteria.

The Old Navy cards are similar in structure and terms. The only key differences between the two cards are that the Old Navy Credit Card can be used anywhere Mastercard cards are accepted. You’ll also earn 1 point / $1 spent outside of Old Navy and its affiliated stores. The Old Navy Store Card can only be used to shop in-store or online at Old Navy and its affiliated stores. There is a $0 annual fee for either card.

When applying for the Old Navy Credit Card, the issuer will most likely use TransUnion in order to assess your creditworthiness.

The activity on your Old Navy credit card will be reported to the three major credit bureaus, TransUnion, Experian and Equifax on a monthly basis.

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.… read full answer

A credit limit increase will give you access to more available credit to use. As a result, you will get a better credit utilization ratio, assuming your spending does not increase, too. The lower the ratio, the better your credit score. If you continue to spend and maintain a high balance on your account, you will see a negative impact on your credit score. A credit limit won’t help your credit score if you just max it out immediately.