How to Increase an American Express Credit Limit: 5 Tips

Depending on various factors, such as your credit score, and which American Express card you currently use, your credit limit can be different. Having a high limit allows you to spend on large purchases and keep your credit utilization to a minimum. For this reason, it makes sense why many individuals are looking for tips on how to increase AmEx credit limit.

In this article, you will learn how to look up your credit limit, the reasons why it’s a good idea to increase it, and some tips on how to achieve your American Express credit limit increase.

Find Out Your Current Credit Limit

Before we proceed to how to get AmEx credit line increase, it’s important that you are aware of your current limit. Here are the steps to check it:

• Log into your American Express account (website or app). 
• You will see your available cards. On the page, find the card icon located in the upper right corner and click it.
• A page will open where you will see “Available Credit” in the Home tab.
• Keep in mind that if you already used some of your credit, the sum you see may be lower than your maximum limit.

Other ways to find the information about your limit are to look it up in your account statement or contact American Express customer support.

Another important thing to know before requesting that AmEx increase credit limit for you is what factors affect it. The main ones include:

• Credit score and history.

When you have a good score, you have better chances to get a high limit from a card issuer. The same goes for credit history, which shows how well you managed to pay off any debts over the years.

• DTI ratio.

Another factor that plays a role in determining your credit line is the ratio between your current income and how much you owe in debt. Those with a low debt-to-income ratio can expect higher lines from American Express, so it’s a good idea to reduce your debt.

• Credit utilizationrate.

American Express also takes a look at any other credit card accounts you have opened. If your credit utilization is already significant in one account, it’s unlikely that your initial limit in the new account will be high.

Why Should You Request AmEx Credit Limit Increase?

Another question to answer — why would you want to increase a credit limit on AmEx? There are several advantages to having a higher limit, namely:

• Spending on a large purchase. The most obvious benefit of having a high limit is that you can use it for large purchases. The only thing to remember is that on-time balance repayment is essential if you don’t want to deal with interest.
• Reduced credit utilization. It is only natural that the higher your limit is, the more likely you are to spend a smaller portion of it monthly. If you don’t start overspending, you achieve lower utilization, which positively affects your score.
• A potential boost to your credit score. The combination of low utilization and timely balance payment can improve your score over time. This ensures that you can get the best credit cards with rewards in the future.
• Access to a better mortgage or loan option. When you are reasonable with how you spend your money and stick to low credit utilization, you will also get lower interest on large loans.
• Emergency help. Life is unpredictable, so having a high limit you can rely on in emergencies is also another advantage.

Top Tips for an American Express Credit Line Increase

Increasing the limit is a good idea, as long as a cardholder has good spending habits and pays off their balance on time. Just a reminder: you are eligible to apply for an increase of your limit every three months. At this point, you probably wonder — how to increase an American Express credit limit? There are some steps you can take.

Wait for a bank to suggest an increase

Responsible card users are usually automatically offered limit increases every 6 months or so. If you are in no rush, you can just continue using your credit card frequently, paying your balance without delays, and taking care of your bills on time.

Send a request online

If you don’t like the idea of waiting, you can send a request online in a few steps:

• Log into your AmEx account and choose a card.
• Go to the “Account Services” tab.
• Select “Payment & Credit Options”.
• Next, search for the “Request Credit Limit Increase” option.
• In the last section, you will need to enter your annual income and the amount you request. Make sure your increase request is reasonable — it shouldn’t exceed more than 10%-25% of your current limit.
• Submit your request.

Once you fill out the form, the bank may accept or deny your request.

A card issuer may perform a hard inquiry to look at your credit history. In this case, you should be prepared for a score to be reduced by up to 5–10 points.

Try contacting customer support

You can also try persuading a customer support representative to give you a limit increase. To increase your chances, make sure that you have reasons prepared. This may include anything from being someone who always pays bills on time to the fact that your income increased.

Check if you can get a temporary credit limit increase

A tip for those who have a big purchase coming up is to check whether they can get a temporary credit limit increase. This is when a limit will be higher for a specific purchase rather than permanently. However, this option is available for limited circumstances, and you need to be a cardholder for 6 months before requesting an increase. To see if you are eligible, you can use the Check Your Spending Power tool in your AmEx account. It will inform you whether your upcoming charge will come through before it happens.

The tool shows how much you can go over your usual credit limit based on your current account status. You don’t pay a fee and can do this in these steps:

• Log into your AmEx account and choose a card.
• Click on “Check Spending Power.”
• In a window that opens, enter your expected purchase amount.
• Click on Submit and see whether your upcoming charge will be approved.

Get a new credit card

If all else fails, you can always try getting a new credit card. Keep in mind that you can have no more than five American Express cards at a time (this includes both charge and credit ones). If you have a good credit history, you can get a new card with a higher initial limit.

Final Thought

Having a high credit limit is a great thing for those who approach it responsibly. It leads to lower credit utilization and thus improves your credit score. There are plenty of steps you can take to increase credit limit on American Express. You can either become an ideal bank customer who pays everything on time and wait, or take an active approach and ask AmEx directly.