You can request a Wells Fargo Platinum card credit limit increase by calling customer service at (800) 642-4720. 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 Wells Fargo has on file. Wells Fargo will be more likely to increase your credit limit if the revised income clearly shows that you can afford a higher limit.
When you request a Wells Fargo Platinum credit limit increase, Wells Fargo will conduct a soft pull of your credit report, which does not affect your credit score. However, some Wells Fargo Platinum credit limit increase requests may involve a hard pull, which will cause a short-term dip in your credit score. Wells Fargo cannot do a hard pull without your permission.
Alternatively, you could be eligible for a Wells Fargo Platinum credit limit increase without even requesting one. The Wells Fargo Platinum card may offer an automatic credit limit increase if Wells Fargo’s regular review of your account shows a history of on-time payments and low debt.
The Wells Fargo Platinum credit card limit was at least $1,000. However, the Wells Fargo Platinum is no longer available for new applicants, unfortunately.
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 … read full answercredit 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.
The Wells Fargo Platinum card credit score requirement is 700 or better. That means you need good credit or better to have a shot at getting approved for the Wells Fargo Platinum Card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Wells Fargo Platinum Card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.… read full answer
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Wells Fargo Platinum credit score requirement. 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.
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