How to Get a Chase Credit Limit Increase (2024 Update)
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Summary:
You can get a Chase credit limit increase either automatically or through a formal request. Unfortunately, Chase does not accept credit limit increases if you message them through your mobile app or online account. Instead, you must call Chase to ask for a credit line increase. Your chances are best if you haven’t reached or exceeded your current credit limit, have a good credit history, and regularly make timely payments on your Chase credit card.
Who hasn’t wanted a credit limit increase at one time or another? Perhaps you want to make a major purchase so you need a higher credit limit. Or maybe you just want to increase your overall credit limits in order to lower your credit utilization ratio. That’s a solid way to improve your credit score and make you more attractive to other lenders.
Whatever your reasons for wanting a Chase credit limit increase, there are a number of ways to make your request more compelling. Let’s take a look at Chase credit cards, how they work, and the best ways to get approval for a credit limit increase request.
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Chase credit cards
A series of mergers with Guaranty Trust Company of New York, Chemical Banking Corporation, Bank One, and Chase Manhattan Corporation leads to JPMorgan Chase & Co ultimately forming in 2004. Chase launched its first credit account in 1958 as the Chase Manhattan Corporation and has since become one of the most popular credit card issuers.
Chase offers credit cards for travel, cash back, business, and more. Typically, a good or excellent credit score is required, but Chase also provides generous rewards programs and sign-up bonuses. Here is our list of the best Chase credit cards.
How to apply for a Chase card credit limit increase
In some cases, you don’t have to do anything to get a credit limit increase with Chase. Depending on your creditworthiness and account history with Chase, you may be eligible for an increased credit limit automatically. Keep in mind that, as of 2022, Chase is not accepting any online requests for credit limit increases.
If you haven’t received an automatic credit limit increase yet, you have three options to formally request one.
Pick up the phone and call
Even in this day and age, some people just prefer to talk to an actual human being, and that’s perfectly acceptable. Call a Chase card representative at 1-800-432-3117 and request a credit limit increase request.
A Chase card representative will consider your request for a credit limit increase by checking your available credit and payment history with them. They will also look at other credit details, such as how much additional debt you have and what your current credit score is.
IMPORTANT! If you have a Chase credit card connected to specific rewards (such as a Chase United or Southwest card), check the back of your card for a different phone number. You may have better luck speaking with a representative that can help you with your specific card.
Automatic credit limit increase
After 6 to 12 months of timely monthly payments, an improved credit score, or an increase in your income, you may be eligible for an automatic credit limit increase. To ensure you give yourself the best chance for this, follow the guidelines addressed below and maintain a low balance on your Chase credit cards.
How to get approved for a Chase credit limit increase
Customers should be aware that when requesting a credit limit increase, Chase will need to check their credit again, which may result in a hard inquiry. In many ways, getting approved for credit line increases is similar to how you originally applied for the card, plus some additional general eligibility requirements and guidelines.
- Timing. It’s best to wait to request a credit limit increase until your credit score is strong, your income increases, or when you regularly make timely credit card payments. Remember that Chase will consider your account for a credit limit increase automatically every 6 to 12 months.
- Card balances. You should be in good standing with your Chase credit card account. In other words, you shouldn’t be over your credit limit or have any late payments. This should also be the case with your other credit card accounts. Additionally, you want to show a low credit utilization ratio (30% or less is ideal).
- Credit reports. Having the same or better credit scores than when you applied for your original Chase card is helpful. No credit card issuer wants to see that you can’t manage your debt, and if a credit check reveals that your score has plummeted, you won’t be eligible for a credit increase.
- Chase card usage. In addition to your account being in good standing, your request for an increased limit will likely be looked on more favorably if you use the spending power of your Chase credit card on a regular basis. The card issuer doesn’t want to see a card balance that’s dangerously close to your current credit limit, nor do they want to see almost no activity either.
- Be conservative. Don’t try and shoot for the stars when asking for credit limit increases. If your current credit limit is $5,000 and you ask for a $5,000 increase, your chances of being denied are high. A more conservative approach is best. If you ask for a 20% limit increase of $1,000, your approval odds improve drastically.
What to do if your Chase credit limit increase is denied
It’s possible that you’ve done everything right — kept your credit score in good shape, managed your Chase card and other accounts responsibly — but your request for a higher credit limit is still denied.
In that case, you might turn to another credit card company to see about a credit limit increase on a different card. Or, you might want to apply for an entirely new card altogether. If the reason you were asking for the higher credit line was to make a big purchase, you might want to look into a card with a 0% introductory rate. That way, you could have a year or two to pay it off without owing any interest.
Repair your credit score
Alternatively, if you suspect that your request was denied due to credit score problems, this would be a good time to reassess your financial situation and make some changes that will turn that score in a more positive direction.
Scouring your credit reports for errors, paying down your debts, and keeping all of your accounts in good order are solid ways to achieve this goal. You might also consider hiring a credit repair company to help you.
Chase card security
Chase provides multiple security features that protect cardholders from fraudulent activity and simple mistakes. As with other credit card branches, Chase allows cardholders to lock their credit cards from their mobile app.
If you’re accessing your card from Chase.com:
- Choose the card you wish to lock.
- Tap “Things to do” or the three dots for more options.
- Click on “Account services.”
- From there, choose to lock or unlock your credit card.
You can also lock your card from the Chase mobile app using a similar process:
- Choose the card you wish to lock.
- Swipe up to access “Account services.”
- Tap the switch to decide whether you want to lock or unlock your card.
Pro Tip
If you notice your card is missing, normally you would need to cancel the card and wait for a new one in the mail. But because of the locking feature, you can just pause the account and if the card turns up, you can just turn it back on.
Minimum requirements to get a Chase card
Before you apply for a Chase credit card, make sure you meet the requirements below.
- Be 18 years or older, depending on where you live.
- Have a U.S. mailing address.
- Have a stable and independent income to pay back your credit card debt.
- Maintain a reasonable credit utilization ratio.
- Provide personal information, including your Social Security number, current employment status, employer, and your annual income.
Chase also requires card applicants to have applied for fewer than five credit cards in the last 24 months (also called the 5/24 rule). In addition to that, you must have a good to excellent credit score (think 670 and above) and solid credit history to access the best Chase cards and terms.
These standards are higher than other credit card issuers. If you prefer to use a different card than a Chase credit card, take a look at some of your options below.
FAQs
How often will Chase increase your credit limit?
Chase usually reviews eligible credit card accounts every 6 to 12 months to decide whether a credit limit increase is appropriate for the cardholder. However, even with that in mind, there’s no guarantee that Chase will increase your credit limit every 6 or 12 months.
Is it hard to get a credit increase with Chase?
Chase doesn’t make it especially difficult to get a credit limit increase, no more than most other credit card companies. If you spend responsibly, make monthly payments on time, and regularly use your Chase credit card, you may not have an issue getting a credit limit increase.
That being said, if you consistently make late payments, only make the minimum monthly payments, or are already close to your current credit limit, you may find it difficult to get the increase you want.
Why is Chase not increasing my credit limit?
This all depends on how responsibly you manage your Chase account and other credit cards. If you have several credit cards with high balances or repeatedly make late payments, a Chase representative likely won’t approve your credit limit increase.
Keep in mind that you also have to use your Chase card for at least six months before you can request a credit limit increase. If you opened a Chase account three months ago, you probably won’t be considered for a limit increase for at least another three months.
What is a good credit limit?
There isn’t really one “good” credit limit, as different cardholders use their credit cards for different reasons. For example, small business owners may feel that a $10,000 credit limit is perfect for what they need. A large corporation, on the other hand, may require much higher credit limits.
However, you must also consider your own spending habits when considering what a good credit limit is. Are you someone who tends to spend whatever funds they have accessible? Or do you stick to a budget and only spend a specific amount each month?
Is it good to increase credit limit?
Requesting a credit limit increase can be fine to do, especially if you need a higher credit limit for a major purchase. A larger credit line will also lower your credit utilization ratio, at least initially, which can provide a boost to your credit score.
However, it’s important to understand the potential downsides that come with a higher credit limit. For instance, you may feel you can spend more money than you can reasonably pay back, which may hurt your credit score.
Key Takeaways
- A few taps on your mobile app or online account is all you need to do to request a Chase credit limit increase.
- Chase will review your credit details and payment history before approving a Chase limit increase.
- There may be a hard pull of your credit report to approve a higher credit line, which could temporarily shave a few points off your credit score.
- Despite your best efforts, a credit line increase is not guaranteed, so you might need to explore other options.
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