Do you want to increase your Chase credit limit? This question might be popping in your head after you have given a credit card. Now my question is, “for what?” If you want a higher credit limit because you have this long list of things to purchase, then stop thinking about it.
Credit card contains a borrowed money. Banks will not approve you of any credit card if you don’t have the capacity to pay for it. Moreso, if you are not a good payer, there’s a 100% guarantee that Chase will not increase your credit limit.
But if you think you are a good payer and responsibly using the credit card, you are definitely allowed to get a higher credit. Don’t know what to do? Here are the tips for you.
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How to Increase Chase Credit Limit
As stated earlier, increasing credit limit means increasing the amount of the money you borrowed from the bank. There are many factors to consider before the bank approves you of it. One thing to note is that you should be an account holder for more than six months. Some factors include your income, capacity to pay, and of course, your good record with them.
These are the tips you can follow to increase your credit limit.
1. Increase your Income
The higher the income, the higher the chance you can get an increased credit limit. If you are an employee, you can keep your pay slips and update your account every time there is a pay raise. You may also need to keep track of your record in the company because promotions can give you better salaries.
2. Be a Good Payer
Paying your credit on time will speak your credibility. If the bank finds out that you are not a good payer, then the chance of increasing your credit limit will only remain in your dreams. There might also be a possibility that the bank will close your card for bad credit standing.
3. Apply for a New Card
Finding yourself in a good position for a higher credit limit can be your chance to apply for a new card. Chase offers different credit cards which have their own credit limits. Of course, you must be able to provide documents for your salary or annual gross income.
You can also do it using Chase.com/increasemyline address to apply online.
4. Keep in Mind your Purpose of Increasing Credit Limit
This is probably the most important tip we can give to you. No matter how much limit you want to get, you should never lose your purpose of having a credit card. Again, we are talking about the money that is not yours yet. If you are overspending, purchasing items here and there, and don’t know how to pay when the bill arrived, then forget about the higher credit limit.
We hope you found this post helpful. If you have concerns or questions, you can leave us a message below. Our team will be willing to help you as soon as we can.