How to Get a Credit Limit Increase - Rules Every Card Issuer 2024
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- čas přidán 15. 06. 2024
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In this video we look at how to increase your credit limit with each major US credit card issuer.
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This reminded me that I haven't requested credit line increases in a while. I got a collective $17k increase across 4 cards with no hard pulls. Thanks!
This video really helped me. Had an Amex BCP with a $14k limit. In the past I had requested 2X CLI ($28K) but was asked to provide bank statements after which they declined stated not enough income/assets. After watching this I requested CLI to $24K and was instantly approved. Thanks!
Awesome!!
Just got credit limit increases on all my Chase cards!
Didn’t think about a video like this but was actually looking to get an increase on a couple cards
Also, you should do a part 2 of the rest of the issuers. I just got a CL increase on Chase and Citi.
I would agree with chase and them
Being squeamish on approval close to stated wages.
On a recent recon, the rep seemed to infer that adding in “household wages” could open you up to an account review.
What about Wells Fargo / bilt ?
I have two credit cards, each with 50k limits, which is double my annual base salary.
Citi will do much more online. Spend is the key.
I love how Amex let me more than double my limit.
Nice video, did you ever find out information for Wells Fargo if they do a hard or soft pull?
It could be either. Freeze your credit reports at EQ, TU, and EX. Call and ask if you can get an increase with a soft pull. Rep will tell you they can't guarantee if it will be a soft pull or hard pull and ask if you want to continue. Your reports are frozen so you tell them to go for it.
If they try to hard pull, the rep will come back and tell you that you'll get a letter in so many days. Letter will arrive and say they didn't grant an increase because they couldn't access your reports. If they do it with a soft pull, rep will come back and tell you how much increase you're getting.
@@mikegoodwin2386 That is genius. I'll try it and let you know how it goes.
@@mikegoodwin2386 So I did the process, they made me unfreeze Experian over the phone and I ended up with a Hardpull. Not so bad since I didn't want TU to take another hit. But I did get a credit limit increase on my WF Active Cash + WF Autograph cards for 10K limits so I don't mind a "2 for the price of 1 hard pull". I'll just wait another year or so before I call them again.
In other news, I did ask if they knew anything about Autograph Journey, I get a "I can neither confirm nor deny the Autograph Journey will be out 2024". Which I stated "I didn't mention the name Journey". HA! But we all knew that was coming.
I have a 30k freedom unlimited and just got approved for 30k for the flex and 30k for amazon.. thats 90k.. this is over 50% of my income.. maybe it was b/c i was approved for both in the same week... anyway i called and reduced my amazon limit.
Why would you ask for a decrease?
Ben! I remember watching you on Off the Great Wall when I was a kid growing up in Hong Kong and later in mainland China, it was always cool to see your mandarin (and Cantonese) skills!!! Then I was always excited whenever you guest hosted on Generation Tech, as I’m a huge Star Wars nerd. I’m just starting my credit journey and happened across your channel, and I was happily surprised to see you were still doing CZcams, but honestly surprised to see you doing credit and financial stuff 😂 anyways, wishing you the best. 龍年大吉🐲🧧
What about Wells Fargo
I just closed a capital one card because of the no increase being stuck with the same limit for 2 years I'm over Capital One. I've been great on my card with a 0 balance but yet they still say nope and no upgrades too.
With capital one you have to spend to get automatic increases. Whatever credit limit they give you spend that much, then pay it off then spend that much again then pay it off. Do that a few months and they usually automatically give you an increase without even having to ask for one. Capital one is one of the major banks you want on your credit profile, but their increases are based on what you actually use of your credit.
I have the big 3 Agencies showing my Files either Locked or a Security Freeze on them. Can I still request a limit increase with a "soft pull"?
An interesting video idea is "When should you decrease your credit limit." I canceled a few cards and lowered way down my huge limits on some cards and instantly got approved for a card that had turned me down for too much credit vs income. Since I never carry a balance and don't have huge charges it's much better.
Right, I have done that with Chase to get approved for different cards. You can move your credit limit around between cards, decrease one and add that to a card you want to apply for
Hi Ben what if you have more then One Amex card . In asked for CL Incase on one. Can you ask for another credit Incase on your other Amex card how long of a wait period between multiple cards .Have safe Holiday thx u
Prior to the pandemic you can request on all your cards the same day. Unfortunately now you have to wait 90 days between credit limit increase requests. I got away with applying for CLI on the business side and then applying on personal right after and I got approved for both during the pandemic in 2021. So maybe that still works if you start with the business card. It definitely doesn't work starting with the personal because I tired to do that 2 months. After Christmas I will try with the business card 💳 first
What about Chase business card
Good video. Just a data point for Chase, but I was told my a Chase CSR that half is indeed the max that they can give. That was the reason why I was initially denied for my business CIU (so it seems that it includes business cards) but Chase eventually let me through with a measly 5K limit. Still happy!
Does asking for soft pulls on chase monthly really matter vs doing it every 3-6-12 months? Can anyone actually confirm it hurts you or just seems to not be improved till about every 6-12 months…
Yeah I’ve been a capital one member for 3 years now, very hard to get a credit increase sadly.
It's doable. I started with a 1500 limit with no luck, first cli took a good while, but then they doubled it to 3000. Then 6 months later up to 13k, and even more recently (again 6months) up to a 25k. Finally out of their bucket
@@josephfriedrich9792how did you get out of their bucket?
Does amex judge increase based on your current balance. I have a high utilization cause no interest and want to increase, but I've been holding off for that reason
Yes don’t keep a balance and pay it off before the closing date for 3 months then try
@@victorherrera2658 aight sucks, i wouldn't have ran it up then. I was thought i had only 3 months for the bonus but it's 6
BEN does chase increase occasionally?
Yes. They increased all of my wife's cards when she applied for a new card
Yes
@aaront936 Not me. Got a Flex about 2 years ago and an Unlimited 2 months ago.
Flex stayed the same. Ha, they did givee me an increase on my Flex after the 1st 3 mos.......200 bux.
Lots of variables there I'm sure
Do we have to call WellsFargo customer service line to ask for a CLI?
Yes.
Appreciate the content I just had one question about American Express I was approved for $1000 credit limit which is not comparable credit to anything I have I understanding three the limit but 3000 isn’t comparable to anything I have as well wouldn’t hurt if I requested 10 X my credit limit? TIA.
If Amex is only willing to give you a $1000 limit then I doubt they will give you $10,000 right away, unless your credit score has increased significantly.
@@TheCreditShifu I’m sitting at a 760 it actually went down from a 780 Experian fico. Not sure why it is my first Amex card though.
when are you supposed to pay the balance in full before minimum due date or closing date ?
Before the due date
I'm trying to get my credit increase on my Amex what's not mentioned in the video is do I need to clear out my entire balance first before requesting?
Yes it’s always suggested to only credit limit increase w a $0 Balance
Yo Ben, what about Discover? Wtf?
@@UTubeVidWatchercan attest to this. In the past year, discover has almost tripled my limit from 5k to 12.5k without me lifting a finger
you look evil with the goatee very malevolent lol
2nd!
Don't be shy about getting higher limits at Chase. Your 47k isn't that high if your income supports it. I have $152k total on my 8 Chase personal cards which is half of my income
What do you do for a living to have such a high income?
@@suncat9 consulting
@@suncat9 consulting
So if Hunter Biden makes $11,000,000 a year form paintings and influence peddling, will Chase give him a $5,500,000 credit line?
😐
So you didnt see the full video?he gave an example
@@vincentcolon7216he just wanted to talk about hunter
Not anymore, they had to learn rhe hard way with Epstein 😂
So if Ivanka and Jared make $2 billion a year from their Chinese trademark deals and peddling influence, will Chase give them an high limit credit line while DOJ does no investigation because daddy said so?