How To Get A Chase Credit Limit Increase

Credit limits represent the maximum amount a cardholder can spend before paying down an account balance. A credit limit increase for responsible cardholders could increase a credit score or leverage more spending power. Chase cardholders can request an increase by phone, but the bank may also grant cardholders in good standing regular automatic increases.

How To Get a Chase Credit Limit Increase

Getting a credit limit increase can be helpful for making larger purchases or increasing a credit score. But before you request one, ensure your account is in good standing first and your credit is in decent shape.

That includes practicing responsible credit card habits like making on-time payments and paying more than the minimum monthly payment (we always recommend paying down the full balance on a credit card every month). Let Chase know as soon as you receive a raise or change to a new job with a higher income.

Chase doesn’t allow cardholders to request an increase online (unlike other card issuers). You must call a Chase representative using the number on the back of your card. You might be approved immediately or it could take up to 30 days for a final decision to be made.

Have some information ready before making the call, for example:

• How much to request. Try to keep it reasonable, for example, a $1,000 increase from $3,000 to $4,000 instead of a $15,000 increase to $25,000.
• Annual income. Income is especially important if you’ve recently received a raise or your income has significantly increased.
• Monthly bills, including rent or mortgage. Card issuers want to know how risky it might be to lend more money.
• Reasons why you’re a good candidate. Come prepared to defend your case with references to your responsible spending habits.

Does Chase Automatically Increase Credit Limits?

Yes, Chase may automatically increase a credit limit for eligible cardholders.

Credit card issuers like Chase consider several factors before offering an automatic increase, like the cardholder’s credit score, credit utilization rate and how long a credit account has been open. Some issuers require accounts be open for at least six months before being eligible for an increase.

To increase your chances of getting an automatic increase, start a habit of making on-time payments and paying more than the minimum due. We recommend paying down your full balance each month to avoid interest charges.

Look for a notice from Chase regarding credit limits—like a mailed letter, email or notification in your online account.

How Often Does Chase Increase Credit Limits?

Chase doesn’t specify how often it approves or offers credit limit increases. But based on the industry status quo, it could be as often as every six or 12 months.

Ultimately, your chances of an automatic credit line increase depends on whether you remain in good standing, how long you’ve had your account and the last time your limit increased.

Does Chase Do a Hard Pull for Credit Limit Increases?

A hard pull refers to a card issuer requesting a copy of a cardholder’s credit report from a credit bureau in such a way that leads to a mark on a credit report. These hard inquiries may temporarily lower a credit score, while a soft inquiry does not.

Chase doesn’t publish information about whether or not it makes a hard inquiry to review credit limit increase requests. Ask Chase directly when requesting an increase from a representative over the phone whether or not it will make a hard or soft credit pull.

Should I Increase My Credit Limit?

Increasing credit limits has its benefits. Responsible spenders can lower credit utilization and improve credit scores by increasing the amount of credit available to them and not increasing their spending.

Credit utilization is one of the most significant factors affecting credit scores. The lower cardholders keep unpaid balances, the better chance they have of increasing a credit score.

Higher credit limits also make big purchases possible, like buying a new TV, kitchen appliance or furniture. Make a plan for paying back a big purchase before swiping that card—preferably before interest begins to accrue on the balance. If interest does accrue, plan to pay off the balance as quickly as possible and know the card’s grace period will no longer exist for new purchases for some time. Chase does also offer their version of a pay over time feature for certain large purchases called the My Chase Plan, where you can make payments without any interest accruing over time.

Requesting or accepting a credit limit increase can be risky because it can lead to overspending. Having more credit available is a tempting offer to spend fast and think later. Overspending combined with minimum monthly payments and high interest rates can quickly lead to debt.

Consider the following questions before getting a credit limit increase:

• Will I be tempted to overspend?
• Can I afford to pay more each month if I spend more?
• Have I had too many hard inquiries to my credit report recently?
• Is my credit utilization too high?
• Have I recently received a raise or seen my income increase significantly?
• Have I been awarded a credit limit increase in the last six months?

The answers to these questions will help you evaluate your odds for receiving a credit limit increase.

Bottom Line

Credit limit increases can be an effective way to improve credit score and take advantage of more purchase potential. Call the number on the back of your Chase card to request an increase. Chase cardholders in good standing with a recent increase in income have a good chance of receiving approval, but beware of the risks of overspending inherent to a credit limit increase. Responsible card use is an important part of maintaining credit and healthy finances.