It could take anywhere from a few minutes to 30 days to increase your credit limit from the time you request the increase, depending on the issuer and your credit profile. When you request a credit limit increase, the issuer will review your annual income, existing debt, and other factors. If you are approved, you’ll typically have immediate access to your new credit limit.
Key Things to Know About How Long It Takes to Increase a Credit Limit
- It’s best to wait at least six months from when you open an account to request a credit limit increase, and to wait 6 to 12 months between requests.
- Depending on the card issuer, a credit limit increase request may result in a hard inquiry on your credit report, which could bring down your credit score by a few points.
- You should make your request when your odds of approval are highest – for example, after getting a bump in your income.
- Some credit card issuers may periodically review your account to determine if you qualify for an automatic credit limit increase. Automatic increases do not involve a hard inquiry.
- Average credit limits increase over time, and it could take years to get a high credit limit. Typically, the longer your accounts have been open, the higher your credit limits will be.
Keep in mind that credit limit increases aren’t guaranteed, either automatically or by request. Even if you have a high income, a good credit score, and little debt, you may not get your requested increase amount, or any increase at all. Credit limit increases may be affected by other factors such as the credit card issuer’s policies, your history with the issuer, or current economic conditions.
This answer was first published on 07/15/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
