May 16, 2024

minute read

When Should You Ask Your Bank For A Credit Limit Increase

"Boost Your Credit Potential: Understanding Bank Policies on Credit Limit Increases"

Written by

Sophia Lin

Sophia Lin merges her economic expertise and credit counseling experience to demystify financial concepts, offering practical advice on debt management and credit building. Her empowering approach motivates readers towards financial independence and resilience.

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We recently reported that Chase stopped doing a hard pull on your credit report when requesting a credit limit increase.

Hard pulls affect your credit score (but not much). Soft pulls do not affect your credit at all.

So I decided to put together an updated list of which banks do a hard pull and which banks do a soft pull when requesting a credit limit increase.

American Express

Most requests do not result in a hard credit pull.
You can request a credit increase in as little as 60 days from opening the account. There are a lot of data points saying that they got up to a 200% increase from their current credit line.
It is recommended to wait six months between requests.

Barclay

A credit line increase usually results in a hard credit pull.
You can request a credit line increase at any time over the phone, or online – under account management.

Bank of America

A credit increase will result in a soft credit pull only.
It is recommended to wait six months before you request another credit increase.

Capital One

No hard credit pull.
You can request a credit increase every six months over the phone.
Capital One will usually want to see high credit usage before approving a credit line increase.

Chase

Update: Chase no longer does hard pulls for credit limit increases. A credit limit increase will only result in a soft pull.
A credit line increase can be requested over the phone or online.

Citi

No hard credit pull.
It is recommended to wait six months before requesting a credit increase.

Discover

Discover usually does not do a hard pull when requesting a credit increase. If they do need to do a hard pull they will notify you.
You can request a credit increase once every 90 days over the phone or online.

US Bank

No hard credit pull.
It can be done online or by phone.

Wells Fargo

You can request a credit line increase with a soft pull. If you’re not approved, then you can request a credit line increase with a hard pull.

Synchrony

A credit limit increase can be done without a hard pull.
It can be done by phone or online.
Some suggest requesting the increase by phone rather than online; they claim approval rates are higher by phone than online.

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	REPORTS	BACK DATES
Amex	Yes	No
Barclay	Yes	Yes
Bank of America	Yes	Yes
Chase	Sometimes	Yes
Citi	Yes	Yes
Capital One	Yes	Yes
Discover	Yes	Yes
HSBC	No	No
US Bank	Yes	Yes

Sample Caption
Bank Name	Reports	Back Dates
Amex	✅	❌
Barclay	✅	✅
Bank of America	✅	✅
Chase	Sometimes	✅
Citi	✅	✅
Capital One	✅	✅
Discover	✅	✅
HSBC	❌	❌
US Bank	✅	✅

Chase now skips the hard credit check for limit increases, which is easier on your score! Check how other banks compare in our latest update.

Sample Caption
Bank	Minimum Payment Calculation
American Express Personal	The greater of these: $40, 2% of the balance excluding interest and fees, 1% of your balance plus interest and fees
American Express Business	The greater of these: $35, For a balance of $0-$25,000: 1% of the balance plus monthly interest and fees, For a balance of $25,000-$75,000: 5% of the balance plus monthly interest and fees, For a balance over $75,000: 10% of the balance plus monthly interest and fees*
Bank Of America	The greater of these: $25, or 1% of the full balance plus the monthly interest and fees
Barclay Bank	The greater of these: $27, or 1% of the full balance plus the monthly interest and fees
Capital One	The greater of these: $25, or 1% of the full balance plus the monthly interest and fees
Chase	The greater of these: $25, or 1% of the full balance plus the monthly interest and fees
Citi	The greater of these: $25 or 1% of the full balance plus the monthly interest and fees, or 1.5% of the full balance
Discover	The greater of these: $35, or 2% of the full balance or $20 plus the monthly interest and fees
Santander	The greater of these: $25, or 1% of the full balance plus the monthly interest and fees
Synchrony	The greater of these: $25, or $35 if you had any late payments within the last six months, or 1% of your full balance plus the monthly interest and fees
Us Bank	The greater of these: $30, or 1% of your full balance plus the monthly interest and fees
Wells Fargo	The greater of these: $15, or 1% of the full balance plus the monthly interest and fees

Sample Caption
Bank Name	Reports	Back Dates
Amex	✅	❌
Barclay	✅	✅
Bank of America	✅	✅
Chase	Sometimes	✅
Citi	✅	✅
Capital One	✅	✅
Discover	✅	✅
HSBC	❌	❌
US Bank	✅	✅

Sample Caption
Rating	Credit Score Range	Description
Poor	<580	This credit score is well below the average score of U.S. consumers and demonstrates to lenders that the borrower may be a risk.
Fair	580-669	This credit score is below the average score of U.S. consumers, though many lenders will approve loans with this score.
Good	670-739	This credit score is near or slightly above the average of U.S. consumers and most lenders consider this a good score.
Very Good	740-799	This credit score is above the average of U.S. consumers and demonstrates to lenders that the borrower is very dependable.
Exceptional	800+	This credit score is well above the average score of U.S. consumers and clearly demonstrates to lenders that the borrower is an exceptionally low risk.

Sample Caption
Very Poor	Poor	Average	Good	Very Good	Excellent
579	619	679	719	779	800+
578	618	678	718	778	799
577	617	677	717	777	798
576	616	676	716	776	797
575	615	675	715	775	796
574	614	674	714	774	795
573	613	673	713	773	794
572	612	672	712	772	793
571	611	671	711	771	792
570	610	670	710	770	791
569	609	669	709	769	790
568	608	668	708	768	789
567	607	667	707	767	788
566	606	666	706	766	787
565	605	665	705	765	786
564	604	664	704	764	785
563	603	663	703	763	784
562	602	662	702	762	783
561	601	661	701	761	782
560	600	660	700	760	781
559	599	659	699	759	780
558	598	658	698	758
557	597	657	697	757
556	596	656	696	756
555	595	655	695	755
554	594	654	694	754
553	593	653	693	753
552	592	652	692	752
551	591	651	691	751
550	590	650	690	750
549	589	649	689	749
548	588	648	688	748
547	587	647	687	747
546	586	646	686	746
545	585	645	685	745
544	584	644	684	744
541	583	643	683	743
540	582	642	682	742
539	581	641	681	741
538	580	640	680	740
537		639		739
536		638		738
535		637		737
534		636		736
533		635		735
532		634		734
531		633		733
530		632		732
529		631		731
528		630		730
527		629		729
526		628		728
525		627		727
524		626		726
523		625		725
522		624		724
521		623		723
520		622		722
519		621		721
518		620		720
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