How to request a credit limit increase with American Express

Requesting a higher credit limit on your credit cards has a lot of potential benefits – from improving your credit utilization ratio to giving you the flexibility to pay off a big purchase. As long as you avoid taking on purchases you can’t pay off in full, a higher credit limit can be an incredible tool. How to Quickly Request a Credit Limit Increase

Despite what you might think, a higher credit limit could be within your reach.

If you have a credit card with American Express, requesting a credit line increase is incredibly simple. Read on to learn more about the process and what to expect. How to Quickly Request a Credit Limit Increase

Eligibility requirements

American Express does not have any public requirements for credit limit increase eligibility, but you should keep a few things in mind. Granting a bigger credit line requires a lot of trust in a credit card holder, so you are more likely to qualify if the following are true: How to Quickly Request a Credit Limit Increase

• You’ve had your card open for at least 60 days.
• You have a positive history of on-time payments and responsible card use.
• You haven’t requested a credit limit increase in the last six months.

If you’ve demonstrated that you can use your American Express card responsibly, making on-time payments for an extended account period, it signals to the issuer that you can take on a higher limit. Cardholders who overextend themselves and don’t pay on time won’t get as much trust from the issuer. How to Quickly Request a Credit Limit Increase

In the same vein, you don’t want to seem greedy when requesting a bigger credit line. Avoid making several requests in a short period of time or requesting an additional increase just a few months after you’ve gotten one.

Finally, you are more likely to be approved for a higher credit limit if your circumstances have changed since your last evaluation. Say, for instance, you’ve gotten a raise since you initially applied for a card – boosting your annual income. Or, you want to transfer a balance that wasn’t initially in your plan. Either way, you have a stronger argument for a higher limit if you have a reason to justify it. How to Quickly Request a Credit Limit Increase

Before you request a credit limit increase

Requesting a credit limit increase is easy, but you can make the process even simpler by getting all necessary information together before you make the call. How to Quickly Request a Credit Limit Increase

First, you should calculate what credit limit you want to shoot for. It is important not to ask for an unreasonable credit limit, but don’t undersell yourself either. While it is unlikely you’ll get bumped up to 10 times your limit, there are plenty of reports online of Amex cardholders having their credit lines doubled – or even tripled. Just make sure that you can manage your new limit responsibly, and don’t ask for more than you can feasibly pay off.

See Related: 6 things to know before requesting a credit-line increase

It’s also a good idea to understand your credit standing and why you are a sound investment. Know your credit score, annual income and other factors that make you a good candidate for a high credit limit. It might be a good idea to pull your credit report and see just how you look to lenders. How to Quickly Request a Credit Limit Increase

Often, the first question you’ll get after requesting a higher credit limit is why you need one. Make sure you have a good answer to this question – if Amex suspects you want more credit just to overextend your spending, it’s unlikely they’ll approve the query.

There are plenty of good answers to this question, so ask yourself why you want the bigger line. Has your income changed, improving your creditworthiness? Do you want to use your card to pay off a large purchase over time? Write down your response to this question before you make the request. How to Quickly Request a Credit Limit Increase

Finally, if you’ve been making only minimum payments on your card or carrying a hefty balance, it might be a good idea to switch up your strategy. American Express will want to see that you can responsibly make higher payments before giving you more credit to work with. How to Quickly Request a Credit Limit Increase

Process for requesting a credit limit increase

Once you have your credit score, income and other information gathered, you are ready to request a higher credit limit. With American Express, there are a few different avenues you can try. How to Quickly Request a Credit Limit Increase

Automatic credit line increase

In some circumstances, American Express might boost your credit line without provocation. The issuer keeps close tabs on your account and might extend a higher limit just for using your card responsibly. There is no designated timeline for this process – and it won’t happen for every cardholder – but you should watch your account just in case.

Requesting a higher limit online

Perhaps the easiest way to request a higher credit limit on an Amex card is online. When you log in to your account, you can access the request form under “Payment and Credit Options”. How to Quickly Request a Credit Limit Increase

You’ll be prompted to enter information, including your new, desired credit limit and current annual income. I tested the portal and got an immediate decision, but you might be required to wait for official notice. How to Quickly Request a Credit Limit Increase