Asking for an increase could affect your credit score.
If you decide it’s the right time to up your limit, either call customer service or request a credit limit increase online.
It’s a very simple procedure.
And, of course, try to keep your spending low enough that you can pay your credit card in full each month.
Is it bad to ask for a credit limit increase?
Although a credit limit increase is generally good for your credit, requesting one could temporarily ding your score. That’s because credit card issuers will sometimes perform a hard pull on your credit to verify you meet their standards for the higher limit.
Is it better to have a higher credit limit?
A higher limit has several advantages, some of which are more obvious than others. A higher limit gives more flexibility to make larger purchases as well as have money available for emergency situations. A less obvious advantage is how much a higher credit limit benefits your credit score.
How often should you ask for a credit limit increase?
You can request a credit limit increase or decrease online, and usually will receive a decision instantly. You must wait four months after your credit limit is increased before requesting another increase, and you must wait six months after a limit decrease to request an increase.
Does getting a credit limit increase affect your score?
A credit limit increase may affect your credit score.
A credit line increase “can, many times, help your credit score,” says Weeks. If you increase your credit line and keep your usage the same, you automatically shrink the utilization ratio.