One of the best ways to increase your credit limits is to do a soft pull/pre approval for a new card. If your credit is really good you might get approved for a higher limit. If it’s right for you accept the card (hard inquiry). If you’re approved for the higher limit request increases on your other cards. They’ll usually match the limits of your other cards. One of the key points of this video is to wait the 3 billing cycles before asking for the first increase. Then wait the six months for the second increase. If you request the increase every 90 days you will appear to be a credit seeking individual. Also Capital One and Amex are very sensitive to this type of behavior and requesting limit increases or checking spending power can result in manual review/ request for documentation and ultimately closure of your accounts. Naam this was a great video
Only issue with that is most cards dont show the Credit limit prior to approval ... sure a couple do but most dont.. and opening a new card is usually not the best way to raise limits.. but it does raise overall credit available..
I made the mistake of accepting a prequalified credit card without updating my income and could’ve gotten a higher limit had I updated my income prior to accepting. Can I still get a higher limit?
I have a business CC for 25k, with a debt almost 13k. Does this affects me getting a high limit personal cc? I did not apply for a personal cc for more than 3 years, and my credit score is very good.
Na If you cancel your credit card, your credit score will take an awful hit. This happens every time you cancel one. Better to try and increase that limit instead. It took Wells Fargo to increase mine to $1,600 from $300 Til this day I don’t know why but it did helped.
i need some help on getting a increase ok i have 200 limit card should u use 180 of it a month on the light bill or just plug it with netflix hulu and stars account it say multiple transactions or should I just use for light bill a month witch is 180 per month pay that under 10 percent before statement closing then use it again after pay off in full really confused please help
I suggest only using the card for your smaller subscriptions and pay those off twice a month . It will keep your utililzation low and will show that you’re using your credit responsibly.
@@TheVisualVanguardno that's a credit myths. Never micromanaging utilization. Use the card normally, let it post high utilization naturally. Then pay it off in full by your due date. That would get you unsolicited credit limit increases with card issuer. Some issuer like capital One likes to see high spend and high utilization statement posts then pay it off in full.
@@patspats8590 honestly your method could work well too. It really depends on his spend relative to income. The 200 dollar limit sounds like a starter card based on stated income during the application. Assuming that, I would caution anyone new to credit cards against creating a habit of maxing out a card to trigger an auto limit increase because 1) that habit will get tougher to scale, especially with multiple cards down the line and 2) capital one is a soft pull so you can literally request a CLI at anytime with no downsides. Last but not least, there are always more cards. Instead of piling into cap 1 hoping for an increase, it would be more effective to just apply for another card with another lender and start developing more lender relationships.
