Many people ask this question and for different reasons. Some of the reasons for wanting a higher credit limit are good and sensible reasons. Others are not. Let’s look at some of the issues involved with changing your credit limit.
Your credit limit is the maximum total amount that you may use on your credit card. This total amount includes everything including purchases, balance transfers, cash advances, fees, and finance charges. This is a pre-set limit and if you go over this amount you may have to pay a penalty fee. When you increase your credit limit you are able to purchase more without incurring penalties. It is that simple.
Here are some tips to help you get a higher credit limit on your credit card.
First, you should ask your card issuer to send you any literature that they may have concerning their policy on requesting a higher limit. Some companies do not have this in writing, but many do. When you read the literature you can assess whether or not you can meet the added requirements.
Second, you should understand that much of the decision on whether or not you will get the higher limit will be based on how well you have paid your...
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