How to Get a CREDIT LIMIT INCREASE
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- เผยแพร่เมื่อ 28 ก.ย. 2024
- Here are three ways to get a credit limit increase.
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This might not apply to someone who is just learning how to increase their credit limit, but for American express something like an individual card limit of $25k or a total cards limit of $35k is enough to trigger a financial review. If you don't comply they can shut all your cards down, if you do comply, but you lied/just recently got a raise (so not on your last year tax return) they could keep your cards open but greatly reduce all your limits.
Great info, I'll pin this to the top
I️ leaned this from ask sebby
I did credit line increases. I would tell you the best answer is I want this card to be my card of choice but the limit is too low. Also debt to income matters
"This might not apply to someone who is just learning how to increase
their credit limit, but for American express something like an
individual card limit of $25k or a total cards limit of $35k is enough
to trigger a financial review."
I'm not sure that that $25k individual card limit is true. There's a 380-plus-page thread on the myFICO forums with data point after data point after data point showing people requesting 3x their current CL and getting a CLI to $30K or more.
ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071/page/380
Since Amex does a soft pull when you make a CLI request, if you make a 3x CLI and it doesn't go through you can reduce your request a bit and try again, and keep on lowering and trying until it's accepted.
jalabi99 I'd guess amount could be different depending on salary, or other factors. That's why I made sure to say "something like a $25k limit". It's no guarantee that it will happen, or that it is always $25k. The 25k is a rough estimate from Data points. Not an absolute, just something to be aware of.
Here's one source that quotes it at 25k.
www.doctorofcredit.com/how-to-reallocate-your-credit-limits-with-american-express/
"There are also reports of increased scrutiny/financial reviews on people with limits higher than $25,000."
Thank you. 2 years ago we decided to make a change in our lives. We watched your videos, 3 new cards over that time, got a new house, one more card, then payed them all off, got a used SUV, and now we're looking at a better home in 4 years. My score is like a game to us both, who gets the better score. The help you gave us, people you dont even know, made a world of difference. Thank you so much for all your hard work on these videos.
Steven Oxendine I’m also always competing with my mum and girlfriend to see who can have the best credit score or highest limits😎 It’s a fun game forsure!
I had $1500 credit limit with Capital one and asked for a $7500 limit. They gave me increase of $3000. $4500 limit I'll take it! I wasn't going to ask until I watched this video, thanks.
Bringit 316 *I’m so glad hess0022 on 1nstagram just cleared my credit card debts without asking for upfront , he’s a nice man*
Holy shit your comments have a lot of scams in them. I just reported like 15. Should clean house every once in awhile dude.
I do a credit limit increase typically once a year. This way it helps my overall utilization and helps keep my scores from dropping.
I said something similar to Chase stating that I didn't want to mess up my credit utilization. They asked if 8,000 was enough. I had only 2000 at the time.
Woah that’s a big increase 300%
The Credit Shifu 400%
Anthony B WOW.
I-Can't knock that ☺️
@@Jasiel.95 It's 300%. You can't consider those 2,000 because it's not part of the increase. 300% is 6,000 which is the amount of increment.
Mr joe you changed my life in credit 👍👍😁
Pls my credit is getting lower 😢 am with 590 pls I need 700/800 how can I reach Mr joe ?
I’ve had credit cards for nearly 40 years and if you want to increase your credit limit without a hard pull it’s easy. I did it by simply asking for a hundred dollar increase, they immediately countered that with 2,500.00 dollar increase and they only did a soft pull. Over the years I’ve done this method and never got an hard pull.
James Allen Not The case !! That work for you because your credit cards don’t do a hard inquiry...not matter how much you ask for, if ask the Chase to increase your available credit they will do a hard inquiry.
James Allen you did this over the phone?
Nemesis The King no
Junito Punto Comm i have a 40 year relationship with JP Morgan Chase. I had the JP Morgan palladium card for over two decades before they changed them. Sorry bud if it didn’t work for you.
Not all banks do that. Some banks will do a hard pull no matter how low credit limit increase
Great thanks Mr Joe 👏😊
I wanna do it pls how do I go about it?
Have anyone here work with Mr Joe of year what was your results ?
Yes is legit Dm 3 0 4 3 0 6 0 3 9 0
I called chase, it doesn't matter what reason (which they don't ask you anyways ). Depends on credit. Now I got a hard inquiry 😞
It’s so funny when he say ghetto looking
I had a 6k limit. I called AMEX and asked for a higher one. They offered me 21k. I said I want more and then gave me 40k. Worth!
I call bullshit
Sounds unreal. Too good to be true. Lucky for you.
😳
Rudy R I pay in full always and have a high fico. But i’d probably won’t ever use the limit. Just like to have it.
Matt FB *I’ve been in debts for a while now and Almost lost my car due to my loan and credit card debts , hess0022 on 1nstagram helped clear my debts and funded my account, the dude is awesome*
Basically ego! Chase, opened me a credit limit of $2,800. I went 2 talk, to a representative of chase about applying for chase freedom. He clearly stated, it would be a hard pull. Bank Of America, so far that I know of isn't a hard pull to recieve a credit increase. I've asked twice, got turned down twice! But I think its mostly, behind another situation. I've asked discover, for a credit increase. Right over the 📱 after having the credit card for 3 months, I was approved $2,500 without, a hard pull. But with my capitol one quicksilver. I asked politely, and she replied. Not enough time on the card. Call back in 6 months! Like u mentioned in this video, some lenders, will give you a higher credit limit automatically. Ive experience that! Hopefully, @ the ✅ time returning 2 chase, it will happen automatically ❓
To Credit Shifu: would love to see you do a comparison of card benefits among card types (AMEX, Visa [platinum/signature/infinite], MC [platinum/world/world elite]) and among banks (Chase/Capital One/BoA etc.). For example, I have a Capital One Venture - instead of Visa signature, mine is a world MC. When my friend and I traveled together, and our luggage were delayed by a day. After checking the card benefit guides, I was able to get delayed luggage reimbursement through MC; however, her Visa signature did not have such benefit. Even though we both have and used Capital One Venture (not Venture One). Same bank (and same card), but different card types, do have some differences... Would be interested to know what benefits other card issuers provide when they issue cards under Visa/MC/AMEX.
Discover also allows online CLI requests
Ask for limit increase to buy more expensive things (eg. plane ticket), and to lower credit utilization ratio.
Commando Master plane ticket is usually the best reason when you ask for a increase.
My personal bank gave me the best increase ever I went from 1500 limit to 10,500 limit
Jesse Medina wow what credit card is that
its through school first credit union
Jesse Medina if it's a credit card then you are qualified for the gta grant from the company
no idea what that is
Jesse Medina if it's a credit card not debit card
Can i ask for a credit limit increase for 3 different credit cards at the same time or at least a month later? And what if my 3 cards are all american express
do you have to use the card often, or at all, in order to request a credit limit increase?
The Freedom and the Freedom Unlimited cards do NOT have over the credit limit fees so even if you spent beyond the assigned limit you can still pay it all back with no penalty. Assuming that you have other cards opened so that you won't be impacting your utilization rate.
Correct that freedom doesn’t have over the limit fees. But spending over or just close to the limit on one card (even if your overall utilization is low) will hurt your credit score. You can take a look at my video on why you shouldn’t max out a credit card
Totally
How can I increase the limit of secure card from Wells Fargo
How long do you usually wait after opening an account with the bank to ask for increase credit limit?
6 months
You don’t need a credit increase. You don’t need credit. Stop borrowing money people.
i choose waiting
Do not ask Bank of America for credit line increase, without prompting, without my acknowledgment, without my permission the agent questioned me and ran a hard pull on my credit and instantaneously I received emails about this action and all my scores dropped by 2-3 points.
Just keep your U. Rate under 50% b.c that's the "bad" percentage threshold, not really 30%.
Will there be any problem if you have a higher credit limit cards and is it okay to tell your higher income to the lender ?Please advise....As always, thank you so much for all the advice that you give us!
Mohammed Khalled you can generally tell your lender whatever income number you want, with exceptions. Some lenders will actually check your employment status, but they can’t get your income unless you provide proof of income or your W2.
Glad i found this channel
@thecreditshifu I have the Amex Everyday Card.. got an invitation to upgrade to the Amex Everyday Preferred. Should I accept the upgrade than ask for the credit increase or request a increase then accept the offer to the Preferred?
Increase it to keep your debt ratio lower for the same purchases you would do anyways.
I just got my first credit card last week and I have a credit limit of $1,200.
and I usually spend $1,500 monthly. How soon can I ask for a limit increase?
I have the chase freedom unlimited they sent me a letter in the mail to request a CLI online without a hard pull I just updated my yearly income and mortgage payment information but they decided the increase amount.
I love your videos. I did have a question if you don't mind. Rather than asking for a 3X credit increase ($2,000 >> $6,000) like I've heard, what do you think about asking for a 3X increase based on what you've spent on the card in 3-months? I have a credit card with a $2,000 credit limit (with Navy Federal), but in the first 3-months (70 days to be exact), I've spent $7,099.25. And by the full 90 days, I am expecting to charge between $8,500 and $10,000 to the credit card. So 3X requests based on what I've spent (and paid off every week) would be $25,500 to $30,000. However, 3X on my actual credit limit would only be $6,000. I would appreciate your thought and expertise on this.
Will thy accept a cc lim inc if your income does not change?
has anyone tried maliandebt yet? been seeing their ad around
With Amex cards - you’re approved for 3x your credit line on a single card once every 6 months. This works until you have a $25k limit on one card or an overall $35k limit. Once you get to those numbers - they will make you go through a financial review process where they will suspend all your cards and review your lines against your income and verify against your tax returns as filed by the IRS and may request other info.
traderpete007 asking for more than 25k is being needy in my opinion. Unless you're buying cars every month.
traderpete007 never heard of that.. Please explain..
Great intro to credit limit increases!
I have 3 capital one credit cards, can I increase my limits on all 3 all at the same time or same day?
Another great video. Thank you.
I have a friend who bragged about Chase increasing her credit limit from 10k to 20k without her asking, so is she lying? She's been using the freedom card for years and she also has a preferred. :O
Hi , does this only apply to USA ? do you mind to share a video for Malaysia ?
So did they Chase do a hard credit pull when they increased your limit?
How long should I wait before asking for a credit increase on a new card?
Jogador15 I text Juantaylor63 on IG and he helped me increase my Credit limit and credit score FICO score from 554 to 700 he is a pro
6 months
thanks that was great info
If they do an automatic limit increase is it a soft pull also?
They won’t do a hard pull on an automatic increase, because they need to ask you permission for a hard pull
What credit card should I get next?
I have the capital one platinum
Right away!
Mine is at 0. Simple reason: I don't buy anything I can't afford.
If I want something (well first of all, I don't because once I spend money I can't get profits from it) I'd just save for it.
And of course by the time I have the money either there is a better offer on it, a new version of it (ie: iPhone… Still have the 6, works great, no reason to buy a new phone) or I just don't want it anymore.
So saving up works. Most purchases are impulse buying.
where did you get your hoodie?
Boa does a hard pull I️ had that card for 2 years and they never gave me a increase so I’m like fuck yuh I’ll take a hard pull and get a sign up bonus and with Amex you can only get a cli every 6 months with all you cards
I'm still lost though. I just deposited money for the capital one secured card and everyone keeps talking about monthly payments.....when they give me the card do they give this information? Or is it something else?
Have you gotten the cards yet?
If I've just open an account to do a balance transfer but I wanted to increase it do o can transfer all my CC to that new card, do you think I'll get an increased
Terry Mais hey man ... Tycoon hacking service is the solution ... he’s gonna help you in a fantastic way ... consult him on WhatsApp +15183135358
Please do areview on self lender
Thank you
Can you do a show on the American Express personal loan
yeah I was thinking about that, because they keep sending me an invitation to that
Shifu does an amazing American accent.
I usually will spend a few hundred $/month but pay it off several times during the month. I don't like loging on to the chase app and seeing a $300 balance. So about every time I hit $100-150 I pay off the balance so at the end of the month my statement balance is about $0-75. Which is the amount being reported? The total I spend and paid off that month or the ending balance that month? Is $0 is being reported as my ending monthly balance since I already paid off the few hundred $ before my statement is generated? I would like a credit increase on my Chase Amazon Prime card ($6500 limit). Thanks for the awesome videos!
The amount that is reported will be whatever the balance is on the payment due date.
I believe chase does display a “statement balance” separate from the current balance. Statement balance is what is reported.
Should I stop paying my balance off before the closing date? For the past two years I have been doing this and don't carry a balance. This is a question I have been wondering for quite a long time.
TheMerkaProductions Yes and no, yes because that helps to keep you credit utilization low.
No, because you should at least have a small amount due to have payment history, if you’re paying before it closes you are not having payment history
Good stuff guy
Good video.
Is the amex credit limit increase was hard pull or soft in your credit score
Yandel, once you’re in with Amex, everything is soft. Credit limit increases, new cards. You’re good
But it hurts your credit score? What's a hard pull? How does it hurt your credit?
Sculpin no a credit limit increase betters your credit score because it raises your overall limit lowering your utilization ratio.
@@Djuane no requesting for a limit increase is a hard pull and is bad? What does that mean?
Sculpin I’ve never gotten a hard pull for simply requesting a credit line increase but applying for a NEW card will be a hard pull and hurt your score. I dropped 2-3 points last week for applying for discover it card it’s a hard pull and will be on my credit report for 2 years.
@@Djuane that's stupid I thought it helps your score.
Sculpin if you get approved for the card your score WILL increase because the utilization ratio out weighs the few points you dropped applying for the card, for example I dropped 2-3 points for applying for chase freedom unlimited got approved for 2,000 so that will take my utilization from 53% down to under 20% when reported to the credit company’s boosting my score around 20 points or so. 20-3 points still increases my score but I have a hard pull, hope this helps
I remember the first time I requested a credit limit increase to my Chase Freedom Unlimited. They increase my credit limit from 500 to 5,500 😅 That's 1,000% increase 😂
STROT NET IS THE ONLY WEBSTE I'D ADVISE FOR IMEMERSIVR CRÉDÎT LIMIT RAISE.
Did you say ghetto looking my brother lol
I tried increasing my capital one quicksilver (my first credit card) and they said no :(. It has a 19k limit
That's a high limit already.
My Quicksilver has a $500 limit and I’ve had it for 2.5 years :(
I like your jacket Benji
It's a hoodie.....
Does capital one gives you a credit increase every 6 months or what?
Robert Weston no
You can ask for one every six months, but they do not automatically give it.
sheltered they gave me 1 increase but that was over a year ago
Have had mine 3 years. Have never got a credit increase. Pay it off in full every month
log into account and request it. be reasonable
While watching this i managed to get a 100$ increase without any change to income or bills.
Cool! You called up? Or online?
Online. it wasn't much but it did a lot for me.
100 or did you mean 1000
idkwhyiam 100, but after making 6 months of payments On time they gave me another 500.
Amex Express credit increase page "ghetto looking" you say???????😆😆😆😆
My overall limit is only 120,000
I’m 21 so I still have time to get it up
David we need proof
ELROOKIEg it’s at 135k now plus charge cards
How can I prove it
@@DavidMossMGS credit card probably linked to parents credit accounts?
Qi W lol no. Now it’s up to 174,500 limit and I’m 22.
Fuck taking handouts
@@DavidMossMGS fool yourself, bruh!
This is just the video i wanted to see lol
haoyibo？
Haha, good luck getting a credit increase from capital one. I use it pay it off and can't get a increase and had it for 3 years
Dealing with the same exact thing. Been a member with Capital One since 2017 every time I apply they refuse my request even though I have on-time payments
@@fdnyesu I got one and it was 100 dollars smh
Did this really need its own fucking video?
How do I increase my credit score
Luis Esquijarosa you can also increse the score by using a secured card.
Here is a video that talks about increasing your score Credit Score: How to get From 0 to 720 in ONE YEAR!th-cam.com/video/t0LHCMcv05Y/w-d-xo.html
If you have chase freedom and the app, talking from personal experience, then they give you a limit of 500 or 600.
What I did was spend a bit over $300 for personal use and want and pay everything off in full the week or two the bills are due through the app. I did it for since December to now and I always use the advice of spend how much you can afford to pay and pay your balance off till it hit zero and wait until that go through and reused it again.
After that I check my credit scores and it’s already gone up to 665 from doing all of that.
Luis Esquijarosa hello Luis what card is that?
Legitcard0 is a trusted and reliable vendor. Just bought another working credit card & did a high PayPal money transfer too. You can try em out too...
SHIFU，you are so so so so so cute
Would it kill ya to say “You’re Generation Tech” at least once!!!?😋
The easiest way is to get close to your limit. They will up your limit. Why? They want you in as much debt as possible.
That’s bad for your credit score though, so I don’t recommend it
its not bad for your score charge up close to your limit then pay it off before the closing date if its 10000 charge 10000 and pay it off before they report to beraus
@@thatdude1354 exactly. Charge it up and pay it off quickly. I just got a 5 grand increase on my mbna card doing that.
@@davidc2570a this credit thing is a game to keep you in debt i just paid off my credit card debt yesterday i owed 5 grand i did all the online estimates and they said my credit is actually going down becuz i paid off all my debt my utilization was 12 percent before but now its gone hit O percent utilization iam like fuck that iam not paying 3 credit cards every month just for a higher score i paid off all my debt and put them creditcards in my sock draw
Make sure to update your card company about your annual income anytime it increases, so they will send you offers to increase it.
I requested my credit line increased from 6000 to 12000 and it went thru.
Thank you for the tips.
Thank you soooo much! Mansard security just helped mine, still cant believe it. I definitely have to be smarter with spending now
@@skreampub where can I find them please?
@@1000grzes check them on youtube or google
Who needs Tai Lopez $500 cc course, when you have Mr Credit Shifu ☝️
who the fuq is Tai Lopez?
Tai Lopez is a fraud 💩
John Wick $500? Wow
@@jayjdotcom did he con you ? he is just a subscription based business, i guess,,,, i been tempted but you can always smell a rat,,,,,
@@msj56 Someone who gives all people named Lopez a bad name.
Good info. That's one thing I'm good at: making sure my bills are paid first. I've never had a credit card but it's about time I get one. :)
“With my Chase Freedom card I went from $5000 to $1500 increase” 😂 that caught me off guard but I knew what you were meaning
LMFAO that's great
Well organized and gets the job done fast
SwifthackerjamesATgmailDOTCom you are a great one
Melisa Williams he helped me boost my credit score too
Melisa Williams All thanks to baileyrichard001,I just got my account loaded with 40k,I was scammed a way back and he got me back up...he’s baileyrichard001 on instagram or text one(248)5six0-6one81
Have anyone here work with Mr Joe of year what was your results ?
Yes I do here text him 3 0 4 3 0 6 0 3 9 0
Great information, I just got an incredible increase of 200%!!! Thank you for your content!
With who? Lol I have chase and that sounds fire
Shoot for the moon in how much of an increase you ask for. 99% of the time they will grant you an increase to a lower amount than you asked for, even if they deny the full increase. If you are denied and not offered a lower amount, then it is likely that you would have been denied no matter how little you asked for.
Big Fan . Thanks for all the advices/sharing.
Please be careful with AMEX(all accounts) Credit limit ! ? If you get a chance , watch Seby's video about Amex credit limit & his very painful experience.
I wish you the best. Thanks again.
Interesting, I’ll check it out. What’s the title of the video?
The Credit Shifu th-cam.com/video/cOUK550KRG8/w-d-xo.html
I heard him million times repeating same ordeal in different videos . All the best.
Johnny H interested to know what you are talking about too since I have 4 amex cards. Did he get FR?
Olah Z51 Yes. Watch the video & comments under that video.
Olah Z51 yes if you ask too much or too many times for credit increase they will freeze all your accounts and do a financial review.
Thank you 🙏🏼 ANTHONY MARSHAL for everything 😁😇
Pls my credit is getting lower 😢 am with 590 pls I need 700/800
LAMAR Terick Dm 1 9 0 1 4 0 1 0 3 1 6
How much should I ask for a credit limit increase? My capital one is 2 years old and I'm still at $500 should I ask for 2k or maybe just $500 more to have $1k in credit HELPPPP!!!
I requested a credit limit increase on my SPG Amex online yesterday. I went from $4K to $8K. I didn't think I would get it. I was annoyed b/c I have several other cards with $10K limits or higher. My credit score is 815ish right now. I didn't think they would give me a 100% increase. Reason being is I wanted to keep my credit utilization low. Thanks!
I would love to hear your thoughts on the Barclay Arrival card.
From $5000 to $1,500 🤔
wtf did you do
wtf lol
lol i think he meant to say 500 not 5000. doubtful anyone would ask for a decrease but u never know...
Lol 😂
@@chornge1 no he meant 5000 to 15000, which is a 200% increase. Jus forgot the extra zero
Credit shifu- how do you feel about them asking what your total expenses with credit cards are monthly? (I think capital one does this online) What are they looking for here? Thanks!
I detect a (slight) NZ or Aussie accent from the narrator?? There are major differences between countries. And if you're YOUNG CC companies, like banks, will run with you, as your earning years are ahead of you. 10 and 20 grand jumps aren't going to happen in your later years unless you own homes, are a professional, and have a career of some kind, or government job. Example: in the USA they run a credit check on you when you take a pee in an In-N-Out urinal. Canada? No, it's generally not used for rentals, etc. as you aren't granting credit, as per Credit Bureau policy. IN the US it's a cultural thing and unlawful., but everyone does it. Not sure about Australia, Britain, or NZ, etc.
Just like your example my Amex Blue Cash limit was $20k and I requested to increase to $25k and got an immediate approval😎 Working on increasing my $7k Apple Card limit next - Thanks!
i've noticed that by paying my balance right before my statement prints the balance is zero, obviously, but my utilization also comes up to zero. you think that could adversely affect my credit? not from a score stand point but maybe some sort of bank guideline or unwritten rule, or might it look to a potential lender like all my cards are inactive?
I do the same thing, too. However, credit reports not only show the ending balances (zeros), but they also show the "high balance" for each account. If the high balance is zero, then that means you have never used that card/LOC - which would be unusual. I have tried keeping different ending balances to achieve a utilization rate between 0-3%, 3-5%, 5-10% etc. Credit scores don't change/drop much until you hit >10% utilization.
I do this with my 3 Amex accounts. I asked Amex about this specifically for the same reason you point out. Amex told me that paying my accounts off before the statement cycle has no negative affect since their system shows all the activity and better than on time payment history.
I am with Chase and just yesterday I called for a credit limit increase and they told they had to check my credit and this would hurt my credit score
Spend till limit, pay full every month.
My monthly limit is more than twice of my annual income.