5 Easy Ways to Increase Your Best Credit Card Limit

Posted by Arwind Sharma on April 11th, 2018

Increasing your online credit card limit is not only about having the power of extra spending! It is laced with numerous long-term benefits as well. One of the major benefits of increasing the credit limit is having a positive effect on your Credit Score.

It also helps in credit utilization ratio as well. Another benefit of increasing your online credit card limit is not applying for another credit card and paying just one consolidated bill.

If you are all set to increase your credit card limit, here are some easy ways to help you do so! Let’s know more!

1. Ask for an Increase in your Credit Card Limit

The foremost and basic ways to get your credit card limit increased is by asking your lender for it. Surprised? Don’t be as sometimes, something as simple as asking for a credit limit increase from your lender can help you avail it without hassles. If you have been consistent in clearing your outstanding each month or have never maxed out the limit, you could be rewarded with an increase in your credit card limit.

2. Check if you are Eligible for an Increase

Sometimes you may require a credit increase and may be looking to use all options to avail it, while your lender or service provider may already have offered it. How? Yes, if you have a long relationship history with a lender and if you have managed the repayments, you may see a credit limit message on your online banking tab. Yes, before you look for other methods, quickly check your message inbox under the internet banking option of the service provider or check your mail inbox for it. You can simply increase your credit limit by accepting the offer or completing the formalities.

3. Spend Money on Credit Card Responsibly

Before you can begin negotiating for an online credit card increase with your lender, make sure that you have a solid foundation for it. For this, maintaining good spending as well as repayments can help you! As a result, go ahead and make frequent credit card purchases and also pay the amount in full and not in the minimum each month. Doing this will help you look like a responsible credit card user and may help you qualify for the limit.    

4. Go for the Card on which you Need a Limit Increase

This credit card could be the one on which you receive a larger share of best reward points or the one you use more often. Another reason to limit the request to only one or two cards is every time you ask for it; the lender will pull out your credit report. What will be the outcome? Too many requests for a credit report may decrease your credit score, and may also show you desperate for credit. Another thing is that too many requests may also let lenders consider you a conman! Thus, always apply for one card on which you want to increase your credit limit!

5. Negotiate with your Lender

If nothing works, you can walk-in to the office of your lender and negotiate with them to increase your online credit card limit. You can also get in touch with the customer care of your lender to know more! Remind them that you have managed your credit card bill on time, or if you are expecting a pay raise shortly and it will be easier to repay the new credit.

The Bottom Line

Incorporate the easy ways discussed and get your online credit card limit increased! What’s more, before doing that, also ask yourself – do you really need the increase? It’s always better to know your needs than just getting it increased for the sake of it! Good luck!