How to Get a Credit Limit Increase on Your Next Card
If you are a frequent shopper at Express, you may have an But to take advantage of sales or do your seasonal shopping, you need to have your credit limit increased. But do you know how to get a NEXT increased credit limit?
Sometimes requesting a credit limit increase can have actually lower your credit score because the credit card company does a hard pull on your credit. DoNotPay has an Increase Credit Limit product that makes requesting an increase easy without having a negative effect on your credit.
How Does a Credit Limit Work?
When you first get a credit card, there is a limit that the credit card puts on the amount you can carry as a balance. The credit limit is often based on several things, such as credit rating, employment history, and income. Sometimes the limits are set lower until the cardholder demonstrates their ability to make on-time payments.
Sometimes, credit card companies automatically increase the credit limit of the customer after they have shown a good payment history. Other times, the customer must contact them to ask for their line of credit to be increased. This is usually done by calling or requesting in writing an increase. The card company may ask for additional information such as to verify employment, income, and other pertinent information.
They may also pull a credit report. Most of the time, they will make a hard inquiry which can affect your credit score. Some creditors will only do a soft pull which has no effect on your score. Always ask if they are pulling a report if it is a hard or soft inquiry, and give permission before allowing them to do this.
Things to Know About Your Express NEXT Credit Card
- Though your card says Express NEXT on the front, the issuer of the card is Comenity Capital Bank. Comenity Bank is one of the largest issuers of co-branded credit cards, covering retail stores, travel services, healthcare services, and more.
- The Express NEXT Credit Card can be used at Express stores only, offering cardholders 20X points per dollar spent and a $10 reward certificate for every 2,500 points ($125 spend) you earn.
- There is no annual fee for this card.
- Cardholders have access to special savings and get 20% off their first purchase.
- You can upgrade to the Express NEXT A-List Credit Card once you earn 7,500 points with that card in order to qualify.
Who Can Request a Credit Limit Increase?
If you are a cardholder, you can most certainly request an increase in your credit limit. Most companies do not approve new cardholders with less than six months of using the card or if you have recently received a credit limit increase. The credit card company will consider the following factors when approving or denying an increase:
- On-time/Delinquent payments
- Credit history
- Credit Score
- Utilization Rate
- Hard inquiries
When Can I Request a Credit Limit Increase on My Next Credit Card?
Comenity Bank, the issuer of the Express NEXT credit card, evaluates customers on a regular basis for automatic credit limit increases. This usually occurs within the first six to nine months after the card has been opened and if it has been frequently used. his will not affect your credit report.
You can also ask for an increase if you have had the card for at least nine months, but they will place a hard inquiry on your credit report, which could affect your score.
Things to Consider Before Requesting a Credit Card Increase
Before asking for any credit line increase, consider the following:
|Credit Report||Is your credit report in good standing? You can check your own credit score once every 12 months for free, so it is a good idea to stay on top of the information in that report and make sure it is accurate.|
|Timing||If you have made changes such as a loss of a job, change in job, moved to another state, or changed your marital status, there may be a better time to ask for an increase.|
|Hard Inquiry||Realize that a hard inquiry into your credit report can affect your credit score by as much as five points, especially if you have had other hard pulls within the last year.|
|Late payments||If you have missed or late payments, asking for a credit increase may not be a good idea. Demonstrate that you are able to pay on time for six months to one year before requesting.|
How to Request a NEXT Credit Line Increase
If you want to request an increase in your credit card limit, the company suggests you call Customer Care at 1-800-695-4955. This is an automated system that will eventually put you through to a customer care agent who will ask you some questions about the address, income, employment status, and other personal information. They may ask to pull a hard inquiry on your credit.
NEXT does not offer an online credit increase service. You can mail your request to the address provided on their website.
What if I Cannot Do This on My Own?
DoNotPay is there to help. If you don't have the time to sit on hold or get switched from one department to another, or if you are unsure how to ask for a credit line increase, let us take care of that for you. Simply follow our six easy steps.
How to request higher credit limits using DoNotPay:
If you want to request higher credit limits but don't know where to start, DoNotPay has you covered in six easy steps:
- Go to the Credit Limit Increase product on DoNotPay.
- Select which type of card you own and your credit provider.
- Tell us more about your card, such as when you first created this card, your current credit limit, what you would like your new limit to be, your card number, and whether you've missed past payments.
- Tell us more about your current income and expenses and why you would like to request a limit increase.
- Indicate whether you want to allow hard inquiries to be made into your credit history. Upload a copy of your ID and provide your e-signature.
- Submit your task. DoNotPay will deliver the request letter on your behalf. You should hear back from the card provider with confirmation or a request for more information within a few weeks.
DoNotPay Can Help With Other Credit Cards Too
If you want to request credit limit increases for other credit cards, we can help with that too. A few of the cards that we can help with are:
- Capital One
- American Express
- Bank of America
- Wells Fargo
- Credit One
- And More
What Else Can DoNotPay Do?
Not only can DoNotPay help with credit limit increases, but they can also help with many of the problems you face every day. We can help you get virtual credit cards, deal with chargebacks and refunds, and even help you file a complaint. DoNotPay offers solutions that are easy, fast, and successful.