Many consumers at some stage have found themselves in a situation where they need to request a higher credit limit on their credit card. This could be for any number of reasons, an unforeseeable circumstance or event that will require the purchase of a large item. Whatever the reason requesting a higher credit limit can be a little intimidating.
It is important that the credit card holder has a clear reason for requesting a higher credit limit on a credit card before calling the credit card lender. It may be that there is no single, clear reason other than needing more credit; for example loss of job. Under these circumstances borrowing on an existing credit card is perhaps not the best idea as carrying a balance from month to month can be a very costly convenience while waiting to be employed. Under these or similar circumstances one could attempt to apply for an instant approval credit card but again this may not be advisable, unless the new instant credit card was a very low rate card for an extended period of time.
The credit card holder should also be prepared to answer questions about whether the credit limit rise is expected to be temporary or permanent. It is more likely to be granted if it is a temporary rise to the credit limit to cover a larger than usual item of expenditure. It may be that it is permanent due to the fact that the person earns and spends a lot more and is coming up against their credit limit far more often than they used to.
Before making the call to the credit card provider it is oftern a good idea to write down what the requested new credit limit will be, what circumstance or reason created the need for the rise in credit limit and how long the raised credit limit is expected to last. This is much better than calling with a vague request for a higher limit and is far more likely to be approved. The call operator you speak with may or may not be authorised to raise the credit limit on the spot, depending on their level of experience, the requested amount and the instituion you bank with. If the rise is significantly higher then your existing limit they may not have the authority to raise it that high and offer a lower credit limit. If this credit limit is insufficientyou may need to request to speak with a manager, in these cases the reason for the rise in the credit limit will be scrutinised more carefully.
