ByRequesting a US Bank Credit Limit Increase
If managed effectively, increasing your credit limit can have many benefits, such as helping you in an emergency, boosting your credit score, and making it easier to access loans and additional credit. Luckily, you can increase your credit limit by contacting your card issuer, should they fail to do it automatically. For instance, US Bank allows you to request a US bank credit limit if you wish to get more from your credit card.
However, requesting a credit limit increase can have negative ramifications, such as harming your credit score. When the card issuer, in this case, US Bank, performs a background check on your credit information, it can lower your credit score by a few points, especially if you submit the request online.
Credit Limit Increase product, however, can help you file a request without harming your credit score.
How US Bank Credit Limit Increases Work
US Bank first sets your credit when it approves your card application. By paying your bills promptly and spending below your credit limit, you're able to show that you are a responsible spender and that you can manage your account effectively. Some of the actions that could bolster your chances of a credit limit increase include:
- Paying extra each month to clear your balance faster
- Ensuring your payment history and credit utilization is in proper condition for all your credit card accounts.
- Increasing your income-a raise or promotion places you in good stead to get a higher credit limit.
The US bank reviews your credit file every six months and, based on their findings, may decide to reward you with a higher credit limit. If this does not occur even after meeting the above standards, you should consider requesting a higher credit limit.
Things to Consider Before Requesting a Credit Limit Increase From US Bank
While the prospect of an increased credit limit may sound tempting, there are factors that you should consider before submitting a credit limit request. They include:
| Timing | It would be imprudent to take up more debt when you have taken a lower-paying job or lost your job. US Bank is likely to reject your request for an increased credit limit should it notice a reduction in your income and, even if the request were to be approved, servicing it while on a lower income is not a challenge you want to take up. It would also be ill-advised to increase your limit when embarking on an overseas adventure, as this is likely to free up your inhibition, leading to impulsive spending. Running up your credit card bill will be something you regret once you get back and all the travel excitement dissipates. |
| Bad Credit Score | A poor credit score reflects poor management of your credit account, and it would be more prudent to build your credit score before requesting a credit limit increase. |
| Hard Pull | US Bank is likely to do a hard pull for a credit limit increase if you submit a request. They are, however, obliged to obtain your permission before they conduct the hard pull on your credit report. |
What Information Will US Bank Ask For?
When requesting a US bank credit limit increase, the bank will prompt you to provide:
- Your annual income
- Source of income/employment details
- Monthly housing payments
How to Request a US Bank Credit Limit Increase on Your Own
Your credit card account must have been open for at least six months before you can request an increase in your credit limit. You can request a US bank credit limit increase online or by contacting customer service.
Requesting a US bank credit limit increase online
- Log into your online account.
- Select the "customer service" tab
- Click "self-service."
- Under the credit card section, click "manage your account."
- Click the link for "credit limit increase."
- Type in your income, source of income, and monthly housing payments.
Request a US bank credit limit increase by phone
- Dial 800-285-8585
- Provide details about your income, source of income, and monthly housing payments.
Using Donotpay to Request for a US Bank Credit Limit Increase
Credit inquiries or credit pulls are a guarantee when you place a credit limit request. They entail someone checking your credit report. Hard credit inquiries, more so those carried by US Bank, will harm your credit score, although the bank will seek your permission before commencing the process.
However, there is an easier way to submit your request without lowering your credit score.
DoNotPay can submit the credit limit increase request while leaving your credit score intact. All you have to do is follow the steps outlined below.
- 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
Our credit limit increase product is not limited to US Bank but also works for other card issuers, including:
- Chase Bank
- Capital one
- American Express
- Apple
- Bank of America
- Citibank
- Wells Fargo
- Credit one bank
- Discover
What Else Can DoNotPay Do?
Requesting a credit limit increase on your behalf is just one of our many product offerings. We can also help you with:
By using DoNotPay, you can avoid spending your time on the phone to request a credit limit increase. All you have to do is follow the easy steps outlined, and we'll take care of the rest. What's more, our track record ensures significant odds of success.
So what are you waiting for? with DoNotPay today.