Boosting a credit card limit usually requires a good credit score. A credit card company considering your request for a credit limit increase will pull a copy of your credit report and score. The card company wants to know how you're currently handling your finances and that you aren't desperate for credit. Credit scores range from 350 to 850, with scores of 720 or higher representing excellent credit. Ideally, before you request a boost your score should exceed 720, although credit limit boosts are sometimes possible with lower scores.
Instructions
1. Pay all your bills on time for at least a year while keeping balances low on all revolving debt, such as credit cards. Ideally, keep balances to no more than 10 percent of all credit limits, according to Bankrate.com. That means, for example, you should never carry a balance of more than $600 on a credit card with a $6,000 limit.
2. Build an impressive credit report by developing different types of credit. A good mix includes a mortgage loan, automobile loan, a signature line of credit, a charge card and one or two credit cards. Not everyone needs all those loan types, but having an assortment of credit accounts that are paid on time really shows your ability to manage credit.
3. Pull a copy of your credit report and score to confirm that your score is 720 or higher. Get a copy of the report from AnnualCreditReport.com -- the only site endorsed by the Federal Trade Commission for free credit reports. Order your credit score separately, for a fee, by following instructions included with the credit report.
4. Call your credit card company to request a boost to limit. Make sure you have had the card at least a year and have not missed a payment or paid late in the 12 months before calling.
5. Follow up by letter asking for a reconsideration if the card company turns you down for a credit limit increase. Point out your loyalty to the company and your current excellent credit rating. A manager may read your letter and decide to grant the increase.
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