How to Increase a Credit Card Limit

A credit card limit is essentially the maximum outstanding balance one is permitted to have on a credit card at any one time. This will not only refer to the maximum amount of money which one is allowed to spend on the credit card, however, as all accruing interest and possible charges will have to be accounted for and the total kept below this limit if one wishes to avoid possible confrontation with one’s credit card provider. Exceeding this limit will almost certainly incur further charges and in serious instances, a partial or complete withdrawal of privileges upon the card and even legal action.

Where, for whatever reason, one feels that the credit card limit one has been assigned is insufficient, it is possible to at least apply to the credit card issuer for this limit to be reviewed and hopefully increased. How to increase a credit card limit in this way is simply about contacting the credit card provider and making the request. This can generally be done by telephone, in writing, or even online in many cases. It is best to have a figure in mind which one would like the limit increased to and be able to supply supporting evidence in relation to one’s claim. Supporting evidence when requesting to have a credit card limit increased will include the obvious things such as income related to fixed expenditure but one stands a better chance of having the request approved where one can point to one’s credit and account history, preferably with the same company as has issued the credit card.

An application to increase a credit card limit stands the best chance of success where one has had the card for a period of at least several months and the card issuer is able to review one’s spending and repayment patterns. The ideal scenario in this instance would be where one spends regularly on the credit card and then clears either the balance in its entirety each month or at least a substantial part of same. This is because when considering an application for an increase in a credit card limit, the first thing which the credit card provider will be looking for is evidence that one can cope in a financial sense with the increased limit and will not be putting extra strain on one’s finances and thus one’s ability to meet the repayments to the credit card company on a monthly basis.

An application to increase a credit card limit is something which one should consider very carefully prior to submitting. Although it may very well be the case that one is more than capable of meeting the requirements of an increased credit card limit, where one is making the application merely in a desperate attempt to make ends meet each month in a financial sense, thought should very much be given instead to examining debt relief options, counselling, or at the very least advice, if one is to avoid the distinct possibility of future – possibly significant – financial difficulties.