You can request a credit line increase every 4-6 months, or even more frequently. However, your chances of being approved for an increase are best if you wait at least 6 months from when you opened your account or last requested a higher limit. If you request an increased limit right after being approved for a new card, it’s unlikely that anything will have changed since the issuer made its initial decision about your credit limit. If you wait 6 months and manage your account responsibly in the meantime, however, you’ll have proven that you can handle your current credit limit.
Things to Know About Requesting a Credit Limit Increase
When you request a credit line increase, the issuer will ask about your current gross income, employment status, key financial obligations, etc. Once you’ve made a request, you should generally wait 6-12 months before submitting another. You can ask for another credit limit increase earlier if your financial situation changes, though. For instance, receiving a raise from your job is a great time to ask for an increase since you’ll have more money to spend. Anytime your overall income goes up, you could be eligible for a limit increase.
Requesting a credit line increase is easy, and you’ll often receive a decision quickly—either instantly or within 10 business days. Just make sure to request an increase when you have the greatest chance of being approved. Asking for a credit limit increase usually leads to a hard credit inquiry, which can cause a temporary dip in your credit score. While your score will recover, it’s best to avoid numerous hard inquiries in a short period of time, especially if you need your credit to be in good shape for a particular reason in the near future.
This answer was first published on 03/31/20 and it was last updated on 03/15/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
