Here are a few tips that you could make use of that might increase your credit card limit.
- Improve your credit score: As a good credit score is the base of availing banking benefits, it is better to ensure that you have a good credit score. Always pay your dues on time. And don’t go beyond your credit limits, as this hurts your credit score.
- Request for an increased credit limit on an existing card: It is possible to get your existing credit card limit increased if you request for it. But whether your request is sanctioned or not will depend on various factors such as credit scores, credit history and your current income. If you own multiple credit cards then you can choose one card for which you want to increase the credit limit.
- Offer more information: Information sometimes changes that your bank is not aware of which could make you eligible for a higher credit card limit. For instances such as when you have received a substantial salary hike for quite some time but you continue to use your old credit card with its existing limit. If that's the case then you can update this information and avail the chance of increasing your credit card limit.
- Apply for a new card: This is the most convenient way of getting a credit card with a higher credit limit. Applying for a new, upgraded credit card will easily give you a higher limit. There are a wide variety of credit cards available, that you can choose from which will give additional credit card benefits compared to your existing credit card. If you have been successful in managing your credits well then there is a chance you can get a new credit card with a higher credit limit than the previous one.
- Annual increase: If you have been consistent in paying your balance on time then your bank may offer an annual increase in your credit limit. Most banks do offer an annual increase. You can check with your bank the same. Even if you don’t need the increase, it can help if you just take it because it comes with additional benefits and you may never know when you will need it.