American Express makes it easy to request a credit limit increase and provides several channels through which to do so. You may be able to request a credit limit increase online or by phone. But you should also be aware that certain factors will likely be taken into consideration before you are approved for a credit limit increase including your payment history, your current credit utilization ratio, and your income. You’ll want to keep these factors in mind before you request a higher AmEx credit limit.
If you’re looking to add a new credit card to your wallet, now might be a good time to look into some of the American Express cards with the highest credit limits. Jump to our list of high spending limit American Express cards to learn more.
Otherwise, read on to find out how you can request a credit limit increase.
Cards With No Pre Set Spending Limit
It’s worth noting that American Express is the only major issuer of cards without a preset spending limit. This is because some of the top card offers from American Express are actually charge cards. This is true of the Green, Gold and Platinum Cards from American Express–both the Consumer and Business variations.
These premium cards are notable because they do not come with a preset spending limit unless otherwise specified. Instead, the cardholder has wide latitude to spend using the American Express card provided that the balance is paid in full at the end of every month. In other words, the benefits of the American Express charge card come in the form of spending power and rewards, as opposed to long term borrowing.
This is distinct from the more recently developed series of American Express credit cards designed for everyday spending and balance transfers. Products like the AmEx Everyday Credit Card, the Blue Cash Everyday Card, and the American Express Cash Magnet Card do come with credit limits.
Typically, you will be able to request a specific credit limit when applying for your card. However, your approval for that spending limit will generally depend on a number of personal financial factors including your credit scores and credit history. Indeed, the cards noted above are considered to be among the more accessible American Express cards due to their more modest initial spending limits.
[For a deeper look at some of the more accessible cards in the American Express portfolio, jump to our article on the easiest AmEx cards to get approved for.]
The good news is that if you do have an American Express credit card with a spending limit, you are entitled to request a spending limit increase at any time. While there is no guarantee that you will be approved for this credit limit increase, the request process is easy and straightforward.
How to Request A Credit Limit Increase
You can request a request limit increase from American Express in just a few easy steps.
- Log into Your Account: You can access your American Express online account through the American Express website or the AmEx mobile app by entering your username and password. You can also initiate this process by calling the toll free number on the back of your credit card–1-(800) 528-4800. If you choose to make your request by phone, you will be prompted to provide your four-digit PIN for identity verification purposes. Be sure to have this number readily available when calling. Otherwise, follow the steps below to complete your request online.
- Find the Credit Limit Increase Option: You can find options for requesting a credit limit increase in both the account management and customer service section of the American Express website. Look for the credit limit option in your account settings and follow the prompts.
- Request an Increase: Select the option to request a credit limit increase. You will likely be asked to provide key information including details of your current employment status, income, and your reasons for requesting the increase. American Express also offers some advice when it comes to requesting a specific rate of increase. According to an educational article from AmEx, “If you’re asked how much of an increase you’d like, be warned: asking for too much could get you denied. Some suggest requesting an increase of 10 to 25% of your current limit, but every card issuer and cardmember is different.” Keep this in mind and exercise the proper level of discretion as you enter in the request for your new credit limit.
- Submit Your Request: Follow the prompts and submit your request for a credit limit increase. American Express will likely perform a soft inquiry on your credit report to assess your creditworthiness. This will not negatively impact your credit score.
- Wait for Approval: Once you’ve submitted your request, American Express will review your account, credit history, and financial information to determine whether or not you qualify for a credit limit increase. American Express notes that most candidates will likely receive that decision in as little as an hour.
Factors that May Contribute to Approval of Your Credit Limit Increase Request
As noted above, while you are permitted to request a credit limit increase from American Express at any time, there is no guarantee that you will be approved. Moreover, there is no guarantee that you will be approved for the amount that you’ve requested. There are, however, several factors that you can take into consideration before making your request. These factors will likely figure into the decision that American Express ultimately makes regarding your request:
- Payment History: You must have a history of on-time payments and responsible credit usage, especially with American Express. Any late or missed payments in your past could jeopardize your chances for earning a higher credit limit today.
- Income: American Express will request information on your current income–though not necessarily proof of income. If you can accurately claim that your income has increased since you opened your American Express credit card account, you may be able to improve your chances of approval.
- Utilization Rate: American Express will be looking for signs that you have been a responsible borrower before adding to your credit limit. A big factor will be your credit utilization ratio. Credit lenders typically prefer to see a usage level below 30%, which means you’ll want to keep low or $0 balances on your credit cards before requesting a limit increase.
- Regularly Review Your Account: American Express may periodically offer automatic credit limit increases based on your account’s performance. Depending on your account settings, you may receive notice of these automatic increases through your online account or through snail mail. Keep an eye on correspondences from American Express as they may contain valuable information about possible credit limit increases.
It’s important to keep in mind that American Express evaluates each credit limit increase request based on various factors, including the creditworthiness and financial stability of the requesting party. It’s also worth noting that the specific process for requesting a credit limit increase might vary slightly based on the type of American Express card you have.
If you’re not sure where to direct your request, jump to our listing of customer service contact numbers and find the right department for your service needs.
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American Express also points out that requesting a higher credit limit may not always be the most logical option. In fact, AmEx suggests that you might be better served by adding a new credit card to your credit mix. As the educational resource from AmEx explains, “If you have a history of good – or great –credit, a new credit card with a higher credit limit may be a possible option to consider. And, even if your new card doesn’t have a higher limit, opening a new line of credit will have much the same effect by increasing your total available credit.”
Thinking about adding another AmEx card to your spending arsenal? Check out our article to find out how many American Express Cards you may be eligible to hold at once.