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Need a credit limit increase on your Chase credit card, but not sure how to get it? You’re in the right place. There are a couple of ways to get a credit limit increase, and a few essential things to remember during the process. But don’t let an increased limit go to your head — it’s critical to use your credit wisely and not just for a shopping spree. Table of contents
Table of Contents
1. Consider Why You Want an IncreaseWhy do you want a credit limit increase? Maybe you’re planning on a large purchase that you would like to put on your card and pay off. If so, be sure to tell Chase when requesting your increase. Planning on maxing out your new limit with purchases that you really can’t afford without credit? In that instance, your chances of getting a credit increase are slim (and you should consider re-examining how you use credit). Using credit wisely is critical, especially when you’re collecting miles and points. You should pay your bill in full every month so that interest charges don’t offset your rewards. If this is difficult for you, you’re probably not ready a credit limit increase. Bottom Line: No matter what your credit limit or credit score is, you should pay your bills on time and in full each month. 2. Know Your Current Credit LimitIt’s good to know what your current credit limit is before you request a credit limit increase. You can find your credit limit in your online Chase.com account. Once you log on to your account, click on the credit card you would like to check located on the left-hand side of your screen. You will see your credit card information in the main section of the page once you select your credit card. Look for your current balance and available credit. These 2 numbers combined will give you your total credit limit for that card.
3. Best Practices for Getting an IncreaseIf you are generally a creditworthy customer, you have a good chance of getting your desired credit limit increase. Here are a few things the bank will be looking at:
If you are a brand-new customer or habitually have late or partial payments, your chances of getting a credit limit increase are slim. Bottom Line: Your account should be at least 6 months old and in good standing to request a credit limit increase. 4. Apply for a New Chase Credit CardThe easiest way to increase your Chase credit limit is to open a new credit card. Chase has some of the best points-earning cards available, so as long as you are under “5/24” (5 or fewer new cards in the previous 24 months), opening a new card is a great way to increase your overall credit limit with Chase. Once you open your new card, you can often transfer some of the credit from the new card to another card if you would prefer your new credit to be on a different card. Here are some of the best card choices from Chase that can offer high credit limits: Chase Sapphire Preferred®The Chase Sapphire Preferred card is a solid choice offering many benefits. If you’re approved for this card, the minimum credit limit you can receive is $5,000. The average credit limit on this card is $10,000, and about 10% of cardholders report a credit limit that exceeds $20,000. Chase Freedom Unlimited®The Freedom Unlimited card is a great card to keep in your wallet long-term because it has no annual fee. It offers a great way to earn Chase Ultimate Rewards points with 1.5x cash back or points on all purchases. The minimum credit limit available for this card is $500. 5. Call Chase DirectlyIf you are in the market for a credit limit increase, you will probably need to contact Chase and ask for it directly. Here are a few things to keep in mind before you pick up the phone.
Bottom Line: Each time you request a credit limit increase, the bank will do a hard pull on your credit report, which could result in a small (yet temporary) drop in your credit score. 6. Ask for a Balance TransferBalance transfers offer a good way to persuade Chase to increase your credit limit. A balance transfer means you’re moving the balance from one credit card to another. It’s usually done to simplify and consolidate debt and to lower your interest rate. Banks love balance transfers because they typically charge a transfer fee and will eventually get to collect interest on any balance that you don’t pay off in full by the time the 0% interest period is over. Chase Slate Edge℠The Chase Slate Edge card is a great option if you need to build or improve your credit score. With no annual fee and 0% intro APR for 18 months from account opening on purchases and balance transfers, this card can be a valuable tool for many cardholders. 7. Wait for the Increase To Occur NaturallyChase, like most other banks, will automatically increase your credit if you are using it responsibly by paying your balance in full and on time. These automatic bumps generally happen every 6 to 12 months. If you’re patient, you might get a credit limit increase without doing anything! Be aware that even if you’re doing everything right, the automatic increase might not happen. In that case, you’ll need to contact Chase to request an increase. Hot Tip: Readers may also want to note that we have a separate article dedicated to increasing your American Express credit limit. What You Should Do if Your Request Is DeniedYour request for a higher credit limit was denied — now what? The first thing to do is call Chase back and ask again. Make your case for why a higher credit limit should be extended (for a large purchase, balance transfer, or higher income), and your request may be approved. If Chase still denies your request, it’s time to look at your credit score and how you use the credit you have. Know Your Credit ScoreIt’s a good idea to know what your credit score is so you can monitor it (and hopefully watch it grow). There are lots of places to check your credit score, and many are free. It’s a good idea to do this periodically to make sure everything is correct and up to date. Here are a few websites to help you understand your credit score and the factors that go into it. Many of these sites allow you to check your score for free. There are 3 main credit bureaus in the U.S.:
Each one of these sites charges to see your credit report. However, there are ways to get it for free. Every year, all consumers in the U.S. are entitled to receive 1 free credit report from each of the 3 main credit bureaus. To get your free reports, check out annualcreditreport.com. You can also get your credit report and score for free from these sites:
Chase Credit JourneyChase offers a tool to see your credit score directly from your Chase account. Log in to your Chase account to get started with Credit Journey. Simply enter your information and your enrollment is complete. Hot Tip: Checking your credit score on Credit Journey does not result in a hard pull, and it does not impact your score. From here, you will be able to view your current credit score and some basics including late payments and the number of accounts opened. Credit Journey is the free credit monitoring tool offered by Chase. Access your information by logging on to your Chase account. You will see your current credit score, basic information about your credit, and the score simulator. Image Credit: ChaseScroll to the bottom to use the score simulator. This tool allows you to view how certain actions might affect your credit score. You can adjust several parameters with this tool including:
This is a fun way to see how certain actions (both good and bad) can affect your score. How To Raise Your Credit ScoreRaising your credit score is a smart way to set yourself up for a credit limit increase and develop good credit habits. Boosting your score is simple — it just takes a little discipline. Follow these basic rules to see your number increase:
If your credit score isn’t great, check out these Chase credit cards for building credit. Final ThoughtsThere are many legitimate reasons to request a credit limit increase. If you’ve been a Chase customer for at least 6 months and have shown responsibility with your credit, you’re likely to receive the increased limit you want. However, if you tend to only pay minimum balances or make late payments, you are unlikely to get an increase. If that’s the case, work on cleaning up your credit first, then go after the credit limit increase you need. How do I increase my Amazon Prime credit limit?To request for a credit line change, enter the new credit limit in Credit limit amount and select Submit. You'll receive a confirmation email about the status of your request within 3 business days. The Manage my credit line tool will display the updated credit limit. Was this information helpful?
Will Chase increase my credit limit automatically?Sometimes, your credit card issuer may automatically increase your credit limit based on certain factors such as having the card open for a long period of time and making payments on time. If this happens, they may send you communication that your limit has increased, so be sure to monitor for these notifications.
What is the highest Chase credit card limit?Highest “Overall” Credit Limit: $500,000
The winners of the nosebleed award for the highest credit limit among cards for mere mortals are these twins: Chase Sapphire Preferred® Card and Chase Sapphire Reserve®, with annual fees in the mid-triple digits and high-double digits, respectively.
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