How to Request for a Higher Unionbank Credit Limit
Asking for an not only boosts your buying power but also lowers your credit utilization, which might help your credit scores. This is because credit utilization is a key factor in your credit scores. Minimal utilization means that you're living well within your standards. Increasing your limit can be a good move once you begin earning more money since your finances will have more flexibility.
If you need credit because you're in a regular state of financial emergency, asking for an increased credit limit is unlikely to solve your issue and could even make it worse. But if you need more credit because you want to lower utilization or are looking for flexibility, you can go for it, and that's where DoNotPay comes in.
Alongside Unionbank, we'll also help you to acquire a higher credit limit for Chase, Discover, Capital One, among others.
When Can I Request a Credit Limit Increase From Unionbank?
Whether your request will be approved or not mostly depends on timing, and as it's often said, the best time to request for higher credit is when you don't need it. Nevertheless, here is the best time to ask for a higher credit limit increase.
|When Your Credit is Good||Having a good credit score simply shows that you're responsible for borrowed money and are more likely to make payments on time.|
|When You Get a Raise||With an increased income, you'll be able to cover an increase in your credit card expenses.|
|When You Have a Good Reputation||If you've never maxed out your card and have made all your payments on time, you're more likely to get approval for a credit limit increase. You'll also have a better opportunity if you've had an account with Unionbank for at least six to twelve months.|
What Information Will Unionbank Ask For?
While requesting an , you need to submit financial documents such as salary slips, income tax returns, and your bank statements. Nevertheless, the credit limit increase will be determined at the bank's sole discretion.
Things to Consider Before Requesting a Credit Limit Increase From Unionbank
Before asking for a credit limit increase, you need to put some things into consideration, and one of such things is a soft or hard pull. A hard pull or hard credit inquiry is when the bank checks your credit before approving you for a credit limit increase, a loan, or a credit card.
And since hard inquiries lower your credit score by a few points, you also need to consider the time frame you use to ask for a higher credit limit increase. This is because too many hard inquiries within a short time will negatively impact your credit score. Therefore, you should wait for like six months before asking for the next credit limit increase, which may give you a better chance of approval.
How to Request a Credit Limit Increase From Unionbank on Your Own
To request a higher credit limit increase from Unionbank, you can:
- Make a request online by logging onto their website and then following the given guidelines.
- Call customer care using the number at the back of your card to ask for a higher credit limit.
- Wait for automatic increases. If you've had your card for some time and have used it responsibly, you can be eligible for an automatic credit limit increase.
- Apply for a new card with a greater limit. And even though your limit on the newly acquired card isn't higher than the one on your current card, it still boosts your overall available credit.
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 Works Across All Companies/Entities/Groups With The Click of a Button
Other than helping you get an increased Unionbank credit limit, we can also help you with:
- American Express credit limit increase
- Apple Card credit limit increase
- Bank of America increase credit limit
- Citi Com credit limit increase
- Wells Fargo increase credit limit
- Credit One credit limit increase
Where Else Does DoNotPay Come in Handy?
- Chargebacks and refunds
- Small court claims
- Contesting parking tickets
- Financial aid appeal letters
- Fighting workplace discrimination
- And much more
For more info about our services, get in touch with us today.