Getting an Amex credit limit increase is pretty straight forward. However, there are a few things you should know like how big of an increase you request and how long you need to wait before requesting. This article will walk you through everything you need to know about these requests.
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Table of Contents
What is an Amex credit limit increase?
An Amex credit limit increase is an easy (and sometimes instant) way to increase the limit on your credit card.
Why would you want in increased credit limit?
An increased credit limit has the obvious benefit of increasing your spending power but it’s also a great way to decrease your utilization and therefore raise your credit score. Utilization is 30% of your FICO credit score, so by getting a nice credit limit increase you’re able to benefit your credit score.
How do you get an Amex credit limit increase?
To request an Amex credit limit increase, log-in to your online account and click on “Account Services.”
Next click on “Increase Your Credit Limit.”
You’ll be taken to a screen where you’ll need to enter in details to process your request.
Verify your card
On this screen, first verify that you’re requesting a credit limit for the right Amex card. You’ll see the name of the card and the last five digits of the card in the top left corner of the screen, as well as in the middle of the screen.
Enter your new proposed credit limit
You’ll be able to see your current credit limit for that card and then there will be a field for you to enter in your proposed new credit limit. Note that you are entering the amount for your desired total credit line for that card not the amount of the credit limit increase.
So for example if you have a $5,000 credit limit and you would like it increased to $10,000 then you should enter $10,000 in that field.
Verify your income
You’ll also be asked to verify your annual income. You usually will not be required to submit verifying documents for your income but once you start requesting higher credit limits, the odds of being forced to send in tax documents increase, so keep that in mind. This is especially true if you don’t have a long history with American Express.
Also, note that income includes wages, retirement, investments, rental properties, etc. Alimony, child support, or separate maintenance need not be revealed if you do not wish to rely upon it. If you are 21 years or older you can include all income available to you.
When you are finished, click “Continue” at the bottom of the page. You might be instantly approved for a credit limit increase or you might have to wait to hear back from Amex.
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How soon can I increase a credit limit increase?
You can request a credit limit increase once your account has been opened for at least 60 days.
However, if you’ve had a card with American Express for at least six months, you might be able to request a credit limit increase as soon as you’ve been approved for your new card — some have been able to request a credit limit increase within 60 days of opening their cards so this rule may not always be enforced.
How much of a credit limit can I increase?
Typically, the maximum you’ll get from a credit limit increase is 3X your current credit limit. So if you have a $5,000 credit limit, the max you will likely be allowed is a $15,000 credit limit (or a $10,000 increase).
How often can I get credit limit increases?
If you were approved for a credit limit increase you can try to request another increase six months later but note that getting approved for a second credit limit increase is more difficult the second time around. If you’ve had a substantial rise in your income then you’ll probably stand a much better chance of having success.
What Amex cards can I request a credit limit increase for?
Credit limit increases are for credit cards and not charge cards. Also, they can be requested for both personal and business credit cards. Here are some popular Amex cards that you might request a credit limit increase for:
- American Express Cash Magnet Card
- Amex EveryDay Credit Card from American Express
- The Blue Business Plus Credit Card from American Express
- Blue Cash Everyday Card from American Express
- Blue Cash Preferred Card from American Express
- Gold Delta SkyMiles Credit Card from American Express
- Gold Delta SkyMiles Business Credit Card from American Express
- Hilton Honors American Express Ascend Card
- The Hilton Honors American Express Business Card
- Platinum Delta SkyMiles Business Credit Card from American Express
- SimplyCash Plus Business Credit Card from American Express
- Starwood Preferred Guest Business Credit Card from American Express
What is the 7 to 10 day message?
After requesting your credit limit increase, you might receive a 7 to 10 day message. This often means that you will be denied your requested credit limit increase but not always.
If you’d like to call in to check on the status of your credit limit increase you can call 800-567-1083 or 866-314-0237. They may or may not be able to tell you conclusively about the decision.
What if I’m denied a credit limit increase?
If Amex does not honor your request for a credit limit increase, all of your hope is not lost. You’ll just need to wait 90 days to try the process again.
They should tell you why your request was denied and those reasons will usually be the same type of reasons for denying a normal credit card application (e.g., too many inquiries, too high of utilization, etc.). So pay attention to why you were denied and try to adjust those factors before you apply again.
Do you get a hard pull Amex credit limit increase?
Amex will perform only a soft-pull on your credit report when you request a credit limit increase. This is great because a hard pull would result in a temporary drop in your credit score but a soft pull will have no effect on your credit score.
Will Amex automatically increase credit limits?
Yes, Amex, like some other issuers, will automatically increase credit limits from time to time. If you regularly use a lot of your credit limit and then pay off that balance, you might be increasing your odds of getting an auto credit limit increase.
Is it worth it to request a credit limit increase?
Because Amex will not conduct a hard pull on your credit report, you really have nothing to lose by requesting a credit limit increase. The only people who have anything to worry about are those people that fabricate their income because Amex could request then to verify that income and that could lead to an interesting situation where credit limits could be lowered.
Do other issuers allow you to request credit limit increases?
Yes, many other issuers will allow you to request a credit limit increase. You can find out more about Chase credit line increases here.
Final word
Amex credit limit increases are easy to request and I would recommend people consider getting them in order to increase their spending power and also lower their utilization. Just make sure you’re aware of all of the timing restrictions since there are several of them.
H-Town based Attorney turned credit card rewards expert. Founder of UponArriving.com.