How to Get a High Credit Limit

Some consumers can't handle a high credit limit because of the temptation to spend money they don't have yet. However, having a high available credit on your credit card demonstrates self-control and can help you qualify for financing. Lenders prefer applicants who have low balances in comparison to their available credit. Applying for a new credit card often results in a modest credit limit. But once you've established a good relationship with your credit card company, it will gradually increase your limit.

Instructions

1

Earn extra income. Some credit companies base your current credit limit on your present income. Look for ways to create additional income in your household to qualify for a higher credit limit.

2

Pay your bills on time. Late payments can result in a credit limit decrease. Always send your payments before the due date, or make online payments to keep your account in good standing.

3

Keep all your credit accounts in good standing. Because of universal default laws, forgetting to pay one creditor can prompt another creditor to raise your interest rate or slash your credit limit. Creditors consider your overall payment history when reviewing your account to see if you're eligible for a credit limit increase.

4

Eliminate debt. Keeping your credit card balances below 30 percent of your credit limit shows self-control and your credit card companies are more likely to increase your credit limit.