How to increase your credit limit

If you’ve been using a credit card responsibly over time, you might be eligible for a credit limit increase. 

In some cases, your credit card issuer might increase your credit limit automatically. You can also request an increase. There are no guarantees that a credit card issuer will increase your credit limit.

What you’ll learn:

• Your credit limit is the amount you have available to borrow on a credit card account.

• Lenders might increase your credit limit automatically if you’re using your accounts responsibly, but you can also request an increase.

• Credit card companies weigh factors like your credit scores, recent applications for new credit, income, employment status and expenses when considering you for a credit limit increase.

• Capital One cardholders can request credit limit increases on the app or website.

In general, you can get a higher credit limit by using your credit card responsibly over time and requesting an increase from your credit card company. Credit card issuers may also increase your credit limit automatically. 

If you plan to ask for a credit limit increase, timing is important. You may have a better chance of getting a higher credit limit if:

• Your credit scores improved.
• Your expenses decreased.
• You have a good payment history with your credit card company.
• Your income increased.
• You’ve paid off other loans or credit accounts on time.

Consider waiting until you’ve had a credit card for at least six months before requesting an increase. Card issuers may also want you to wait if you’ve requested an increase in the past six months.

Eligible Capital One customers may be able to exceed their limits for occasional spending needs, with no over-the-limit fee. View important rates and disclosures. If your Capital One account has access, you can use the Confirm Purchasing Power tool to check whether an over-limit purchase may be approved. You can also disable the ability to spend over your credit limit in your over-limit preferences.

Capital One cardholders can request a credit limit increase on the Capital One Mobile app or online. For more information, see these FAQ about credit line increases with Capital One.

Capital One accounts that have been open for only a few months are generally too new to be considered. Accounts that have received an increase or decrease in the past few months typically won’t be considered either.

Capital One may sometimes initiate a credit limit increase. Additional credit is generally offered or given if you’ve shown responsible financial habits over time. But issuers can set their own policies on credit limit increases.

The process for requesting a credit limit increase can depend on your credit card issuer and its policies. 

Here are some ways to request a credit limit increase.

• Online: You can usually request a credit limit increase from your credit card account—either through your issuer’s website or mobile app. Look for the request credit limit increase or request credit line increase option from your issuer’s online portal.

• Over the phone: You may be able to call your credit card issuer’s customer service number to request the increase. Typically, this number can be found on the back of your credit card. 

Whichever method you choose, make sure to have information like your income, employment status, and monthly mortgage or rent payment handy.

Whether increasing your credit line is a good idea depends on your financial situation and how you use credit. Here are some factors to consider.

On the positive side, a credit line increase: 

• Often lowers your credit utilization ratio. Usually written as a percentage, your credit utilization ratio is how much revolving credit you’re using, divided by the amount of available credit you have. If you keep your spending about the same but increase your credit limit, your credit utilization ratio will go down. And a lower credit utilization ratio can help improve your credit scores. 

• May strengthen your purchasing power. A higher credit limit can provide more flexibility to make a large purchase or cover emergency expenses when necessary.

On the downside, a credit line increase: 

• Could result in a hard inquiry. Not all issuers conduct a hard inquiry for a credit line increase, but some might. Capital One, for example, doesn’t require a hard inquiry for a credit limit increase. A single hard inquiry will typically lower your credit scores by only a few points, according to FICO®. But multiple hard inquiries may have a more significant impact.

• Carries the risk of overspending. With more credit at your disposal, there might be a temptation to spend more. And that could make it harder to pay off your balance each month. Carrying a balance can affect interest charges, credit scores and more.

When to ask for a credit limit increase is up to you, but policies for credit limit increases differ from issuer to issuer. 

If you’re eligible for a credit limit increase, your bank may approve your request immediately. But sometimes requests can take a few days to review. And your issuer may ask for additional information before making a decision about your request. Once your request has been reviewed, you’ll find out whether you’ve been approved for an increase through an email, an online notification or a letter.

It might be best to hold off on a credit limit increase request if:

• You’re not financially stable.
• You plan to apply for other types of credit soon.
• You have trouble staying on top of your existing credit card bills.
• Your account is too new.

Here are answers to some frequently asked questions about how to increase your credit limit.

Your credit card issuer may increase your credit limit because of changes in your financial situation or improvements in your credit scores. Or you could request an increase yourself. 

A lender isn’t guaranteed to give you an increase when you ask for one. You’ll likely be asked to provide information like your income, employment status, and monthly mortgage or rent payment. Your credit card company may weigh these, along with other factors, to decide whether to approve your request.

If you’re looking for a new credit card, Capital One can help. 

• See whether you’ll be approved for a credit card with 100% certainty—without harming your credit scores. 

• If you’re looking to build your credit with responsible use, explore cards for people with fair credit. 

• Earn cash back on every purchase, every day, with a cash back rewards card. 

• Monitor your credit reports and scores with CreditWise. It’s free, and using it won’t hurt your credit scores.