How to get a credit limit increase and raise your score

If you recently received a salary increase or haven't updated your income information with your credit card issuer in a while, you might qualify for a credit limit increase.

By securing a higher credit limit, you'll be giving yourself more spending power and keeping your credit utilization rate low — and these factors make up a large part of your credit score.

Below, CNBC Select details how you can quickly raise your credit card's credit limit — and potentially your credit score — by simply updating your income information with your credit card issuer.

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When you apply for a credit card, the issuer will ask for details regarding your current salary. If it's been several years since you applied for a card or you recently started a new job with a higher salary, it can be advantageous to update your income information and request a credit limit increase.

Keep in mind, however, that if you're approved for a higher line of credit, it may still take several weeks to appear on your credit report. Also, your potential credit score increase will correlate with how much your credit utilization shifts. So, if you only receive a small increase, don't expect drastic changes to your credit score.

For example, if you have a $15,000 line of credit and are actively using $5,000 of it, your credit utilization ratio is 33%, which is considered high. If you can increase your credit line to $20,000, with the same $5,000 balance, your credit utilization would drop to 25%, below the 30% utilization ratio often recommended. While this dip in utilization will likely net you a few points on your credit score, increasing your credit limit while keeping your usage minimal is ideal.

One way to request a credit increase is to call customer service and see if your income information has been updated. If it has been, consider asking directly for a credit line increase. It's beneficial for credit card issuers to give you more credit, which will then give you more flexibility to spend.

If you prefer not to speak to someone over the phone, you may be able to do this online within your customer portal. For example, I recently requested a credit limit increase for my Chase Freedom Unlimited® card through the Chase mobile app. There was a "credit limit increase" option on the account management page and all I needed to do was enter my total gross annual income and monthly mortgage/rent payments. It took me roughly 30 seconds and my credit increase request was approved almost immediately. Other issuers like Capital One and Citi offer similar features in their mobile apps.

It's worth noting that card issuers may do a hard credit check when considering you for a credit limit increase, so your score might temporarily dip but should recover quickly.

While credit scores tend to involve more complex financial risk models, even smaller adjustments can help push your credit score in the right direction. However, maintaining a solid credit score requires the consistency of making solid financial choices in the short and long term. Here are a few easy things you can do to help improve your credit score if it's less than perfect.

Check for errors on your credit report

An April 2024 study by Consumer Reports found that 44% of people have at least one error on their credit report. If you spot an incorrect line item the next time you're going through your credit report, reach out directly to the credit bureau — either Equifax, Experian or TransUnion, depending on which credit report you're viewing — to dispute it. You can view and monitor your credit score with a credit monitoring service like Experian or Identity Force.

Refinance your credit card debt

If you suddenly find yourself drowning in credit card debt, you may benefit from refinancing it to a personal loan with a lender such as LightStream Personal Loans or PenFed. These loans will often have lower APRs than credit card debt and can help reduce your debt utilization ratio to zero while consolidating your credit card debt into one place.

The key to making this strategy work is to avoid overspending with credit cards as you could end up accumulating even more debt.

Become an authorized user on someone else's account

If you have a trusted family member or friend whose credit card has a high limit, you could ask them to add you as an authorized user. This would allow the card to appear on your credit report and may help increase your available credit line.

Many credit cards offer free authorized user accounts and you don't need to use the card yourself to reap the benefits. Just be sure the primary cardholder pays their bills on time since their spending habits will directly impact your credit score.

Use your credit cards wisely

Even if your credit score could use work, there are still many cards you may qualify for. Making consistent, on-time payments and using your credit responsibly can help you raise your score and eventually qualify for cards with higher credit limits.

The Discover it® Secured Credit Card is a great option for building credit and allows you to earn rewards, which is less common among secured cards. It requires a minimum $200 refundable security deposit, but after seven months there's an automatic review to see if you can be moved to an unsecured card.

If you prefer not to make a security deposit, the Capital One Platinum Credit Card is an unsecured card available to applicants with fair credit but doesn't earn rewards. It has no annual fee and charges no foreign transaction fees.

Get credit for paying your bills on time

Many of your bills — your rent, utilities or monthly Netflix subscription — aren't actually accounted for on your credit report. *Experian Boost® gives consumers an instant 'boost' to their FICO® Scores by looking back at the last two years of credit history and considering all your recurring bills. The service is free to sign up for and the average FICO® Score boost is about 13 points.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.

For the rates and fees of the Discover it® Secured Credit Card, click here.