How to Get a HUGE Credit Limit Increase in 2022
Check out the Latest Card Offers HERE: https://linktr.ee/Magnified.Money Click “Show More” to see my Favorite Financial Tools ▽MY FINANCIAL TOOLS▽ 🏦 SoFi Complete Money Management ➤ Checking & Savings - https://magnified.reviews/SoFi ➤ Credit Card - https://magnified.reviews/SoFiCreditCard ➤ Invest - https://magnified.reviews/SoFiInvest ➤ Budgeting - https://magnified.reviews/SoFiRelay ---------- 💰 Chime Fully Online Banking ➤ Sign-Up for Chime HERE: https://magnified.reviews/Chime ➤ Chime Credit Builder HERE: https://magnified.reviews/Credit-Builder ---------- 💳 Favorite Credit Cards ➤ Chase Sapphire - https://magnified.reviews/Sapphire-Preferred ➤ Capital One Venture X - https://magnified.reviews/VentureX ➤ Chase Ink Business - https://magnified.reviews/Ink-Business ➤ Amex Green - https://magnified.reviews/Amex-Green ➤ Amex Platinum - https://magnified.reviews/Platinum ➤ Amex Business Gold - https://magnified.reviews/BusinessGold ---------- 📊 Wealthfront Automated Investing ➤ First $5,000 Managed for FREE - https://magnified.reviews/Wealthfront ---------- 💵 Current Card ➤ Current | Modern Banking App - https://magnified.reviews/CurrentCard ---------- 📸 MY CAMERA GEAR ➤ My Camera: https://magnified.reviews/Camera ➤ My Microphone: https://magnified.reviews/Microphone ➤ My Lights: https://magnified.reviews/Lights #1: Call and Ask for an Increase The first way to increase your credit score is to take out your credit card flip it over and call the number on the back of your card. And then all you have to do is…brace yourself for this one…ask for a credit limit increase. They're probably going to ask if you have had any substantial changes in your income and I do want to let you know that in some cases requesting a credit limit increase can trigger what's called a hard inquiry and therefore may have a short-term impact on your credit score. #2: Submit a Request Online If you're of a younger generation and you're uncomfortable calling someone on the phone…first I would say step outside your comfort zone and call the number on the back of your card…you'll thank me later..but second of all a lot of credit card providers will let you request a credit limit increase through their website. #3: Apply for a NEW Credit Card This one might leave some of you scratching your head but this is by far my favorite strategy considering I have a ridiculous amount of credit cards but remember that in terms of calculating your credit score and your total available credit, that is calculated by adding up all of the credit that you have meaning every single credit card. So if you currently only have one credit card that has a $1000 limit then your total available credit is $1000. But if you go ahead and apply for a new credit card and they offer you a $2000 limit then your total available credit is now $3000 meaning you just tripled your total available credit and if you are strategically climbing the credit card ladder you probably picked up a new card that is going to give you cash back and rewards in a new spending category. #4: Wait for an Automatic Increase You may have experienced this with your own credit cards but a lot of times as you show the credit card company that you are a reputable borrower and you always pay your statement on time every time without fail and are using a good amount of your available credit it's very possible that they will automatically increase your credit limit without you having to do anything. #5: Apply for a Charge Card A charge card basically works in the exact same way as a credit card the only difference is that it has to be paid when your statement is issued which is usually once a month. But the benefit of this is that charge cards usually have no limits or if they do have a limit it is ridiculously high and somewhat unspoken. A charge card is not necessarily going to give you the benefits that we're going to talk about next but if your purpose for wanting a credit limit increase is solely to have more credit available to you then getting a charge card is probably the fastest way to drastically increase your credit score. 0:00- Call and Ask For an Increase 1:22-Submit a Request Online 3:05-Apply for a NEW Credit Card 4:30-Wait for an Automatic Increase 5:42-Apply for a Charge Card 7:43-Why Increase Your Credit Limit? 9:40-How This can Save You THOUSANDS Music from Epidemic Sound Magnified Money may receive compensation for sending traffic to partnered sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
Check out the Latest Card Offers HERE: https://linktr.ee/Magnified.Money Click “Show More” to see my Favorite Financial Tools ▽MY FINANCIAL TOOLS▽ 🏦 SoFi Complete Money Management ➤ Checking & Savings - https://magnified.reviews/SoFi ➤ Credit Card - https://magnified.reviews/SoFiCreditCard ➤ Invest - https://magnified.reviews/SoFiInvest ➤ Budgeting - https://magnified.reviews/SoFiRelay ---------- 💰 Chime Fully Online Banking ➤ Sign-Up for Chime HERE: https://magnified.reviews/Chime ➤ Chime Credit Builder HERE: https://magnified.reviews/Credit-Builder ---------- 💳 Favorite Credit Cards ➤ Chase Sapphire - https://magnified.reviews/Sapphire-Preferred ➤ Capital One Venture X - https://magnified.reviews/VentureX ➤ Chase Ink Business - https://magnified.reviews/Ink-Business ➤ Amex Green - https://magnified.reviews/Amex-Green ➤ Amex Platinum - https://magnified.reviews/Platinum ➤ Amex Business Gold - https://magnified.reviews/BusinessGold ---------- 📊 Wealthfront Automated Investing ➤ First $5,000 Managed for FREE - https://magnified.reviews/Wealthfront ---------- 💵 Current Card ➤ Current | Modern Banking App - https://magnified.reviews/CurrentCard ---------- 📸 MY CAMERA GEAR ➤ My Camera: https://magnified.reviews/Camera ➤ My Microphone: https://magnified.reviews/Microphone ➤ My Lights: https://magnified.reviews/Lights #1: Call and Ask for an Increase The first way to increase your credit score is to take out your credit card flip it over and call the number on the back of your card. And then all you have to do is…brace yourself for this one…ask for a credit limit increase. They're probably going to ask if you have had any substantial changes in your income and I do want to let you know that in some cases requesting a credit limit increase can trigger what's called a hard inquiry and therefore may have a short-term impact on your credit score. #2: Submit a Request Online If you're of a younger generation and you're uncomfortable calling someone on the phone…first I would say step outside your comfort zone and call the number on the back of your card…you'll thank me later..but second of all a lot of credit card providers will let you request a credit limit increase through their website. #3: Apply for a NEW Credit Card This one might leave some of you scratching your head but this is by far my favorite strategy considering I have a ridiculous amount of credit cards but remember that in terms of calculating your credit score and your total available credit, that is calculated by adding up all of the credit that you have meaning every single credit card. So if you currently only have one credit card that has a $1000 limit then your total available credit is $1000. But if you go ahead and apply for a new credit card and they offer you a $2000 limit then your total available credit is now $3000 meaning you just tripled your total available credit and if you are strategically climbing the credit card ladder you probably picked up a new card that is going to give you cash back and rewards in a new spending category. #4: Wait for an Automatic Increase You may have experienced this with your own credit cards but a lot of times as you show the credit card company that you are a reputable borrower and you always pay your statement on time every time without fail and are using a good amount of your available credit it's very possible that they will automatically increase your credit limit without you having to do anything. #5: Apply for a Charge Card A charge card basically works in the exact same way as a credit card the only difference is that it has to be paid when your statement is issued which is usually once a month. But the benefit of this is that charge cards usually have no limits or if they do have a limit it is ridiculously high and somewhat unspoken. A charge card is not necessarily going to give you the benefits that we're going to talk about next but if your purpose for wanting a credit limit increase is solely to have more credit available to you then getting a charge card is probably the fastest way to drastically increase your credit score. 0:00- Call and Ask For an Increase 1:22-Submit a Request Online 3:05-Apply for a NEW Credit Card 4:30-Wait for an Automatic Increase 5:42-Apply for a Charge Card 7:43-Why Increase Your Credit Limit? 9:40-How This can Save You THOUSANDS Music from Epidemic Sound Magnified Money may receive compensation for sending traffic to partnered sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.