You can get a PenFed credit card credit limit increase either online or by calling customer service at (800) 247-5626.
To raise your chances of being approved for a higher credit limit, pay your bill on time for at least six straight months, reduce your outstanding debt, and update the income PenFed has on file. They will be more likely to increase your credit limit if the revised income clearly shows that you can afford a higher limit.
Impact of a PenFed Credit Card Credit Limit Increase on Your Credit Score
When you request a PenFed credit card credit limit increase, they will conduct a hard pull of your credit report, which will cause a short-term dip in your credit score. PenFed cannot do a hard pull without your permission, though.
On the other hand, there are times when you could be eligible for a credit limit increase without even requesting one. PenFed may offer an automatic credit limit increase if its regular reviews of your account show a history of on-time payments and low debt. An automatic credit limit increase involves a soft pull, which does not affect your credit score.
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