How do I increase my Wells Fargo Platinum credit limit?

The Wells Fargo Platinum credit card limit was at least $1,000. It was also possible for someone to start with a credit limit well over $1,000, depending on various factors like their credit score and income. However, the Wells Fargo Platinum is no longer available for new applicants.

How to increase your Wells Fargo Platinum credit limit:... read full answer

If you already have a Wells Fargo Platinum, you can ask for a credit limit increase by calling customer service at (800) 642-4720. Your odds of approval are highest if you pay your monthly bills on time and keep your credit utilization low. Wells Fargo may also grant automatic credit line increases to select eligible customers, but there is no way of knowing for sure whether you’ll be among them.

Alternatively, if you want to get another Wells Fargo credit card, you can ask customer service to shift some of your existing credit to the new card. You can’t move your entire credit line, though, just an amount above the original account’s minimum credit limit.

Alternative Credit Card Option

While Wells Fargo Platinum is no longer an option, the Wells Fargo Reflect provides a great alternative. This card also offers a minimum credit limit of $1,000 to all applicants who get approved.

Plus, the card offers an introductory APR of 0% for up to 21 months from account opening on both new purchases and balance transfers (subject to a fee of 3% intro for 120 days, then up to 5% (min $5)). This card’s regular APR is 17.74% - 29.74% Variable. There’s also a $0 annual fee.

The credit score needed for the Wells Fargo Platinum card was 700, at a minimum. That means at least good credit was required for approval. However, it is worth noting that this card is no longer available to new applicants.

Alternative Credit Card Option

If you’re looking for a similar credit card, you should consider getting the Wells Fargo Reflect® Card. This card offers an introductory APR of 0% for up to 21 months from account opening on both new purchases and qualifying balance transfers. Keep in mind that balance transfers are subject to a fee of 3% intro for 120 days, then up to 5% (min $5). The card’s regular APR is 17.74% - 29.74% Variable, based on creditworthiness.... read full answer

Wells Fargo Reflect requires good credit or better (a credit score of 700+) for approval. So, make sure you know where you stand before applying. You can check your credit score for free on WalletHub.

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.