Your credit card issuer will consider your account history, income, and credit history to decide whether or not to raise your credit limit. Unfortunately, credit limit increase requests are sometimes denied.
Some Reasons Why You May Have Been Denied
Many of the reasons why you might be denied are the same reasons why you might be denied if applying for a new card:
After Your Credit Limit Increase Request Is Denied
Your credit card issuer will send a letter if the information on your credit report or your credit score was the reason your credit limit increase was denied. The letter will name the primary factors that contributed to the decision and include your free credit score or instructions to order your free credit report. If you anticipate wanting a higher credit limit, use your credit cards in a way that will help you get approved. Make all your monthly payments on time. Use your credit card each month and pay off a significant portion of your credit card balance. Making big purchases and paying a lump sum toward your balance can help the case that you need a higher credit limit. Be careful that you’re not charging more than you can afford to pay. Finally, minimize your new credit applications in the months leading up to your credit limit increase request.
