How to Get a Credit Limit Increase With Barclaycard
Trying to add to your available credit? Check out the quick process you can go through to request a credit limit increase with Barclaycard, plus how you can improve your chances of success when you do it. Image source: Getty Images.
Ideally, you want to be able to use your credit card for typical expenses without micromanaging your balance to avoid hitting your credit limit. That's tough to do if your credit limit is too low, in which case you may want to ask for an increase.
Requesting a credit limit increase is easy with Barclaycard credit cards, and you can even handle it online. If your income or credit score has changed since you opened the account, or even if you've just been diligently paying your bill every month and think you deserve a bigger credit line, here's how you can ask Barclaycard to raise it.
When you can request a credit limit increase
Barclaycard has a few rules for credit limit increases that you should know about:
- The minimum timeframe between credit limit increases is four months.
- If you've had a credit limit decrease, then you must wait at least six months before you can request an increase.
- If you request a credit limit increase and Barclaycard denies your request, then you must wait at least one month before you can request one again.
Whether Barclaycard approves your request will depend in large part on your payment history with the card issuer. When you always pay your bill on time and you make full payments, you have a good shot at an increase. If you've had any late payments or you only pay the minimum amount, Barclaycard is unlikely to raise your credit limit because of those red flags.
Although you don't need more income to boost your credit limit, that does help, especially if you're requesting a large increase.
How to increase your credit limit with Barclaycard
Barclaycard lets you request a credit limit increase online or over the phone. To do it over the phone, you can just call the number on the back of your card. Here's how to do it online:
1. Log in to your Barclaycard account.
2. Click "Services," and then click "Request credit line increase" on the drop-down menu.
3. The page you're on will have different account services available, and you'll need to click the "Request a credit line increase" link once again.
4. Fill out the request page with your employment information, annual income, and desired credit limit increase.
Pro Tip: Go for a realistic amount, but aim high. Even if Barclaycard thinks your request is too much, they could still give you a smaller increase, so it's better to overshoot than to undershoot.
Let's say your current credit limit is $10,000 and your income has gone up substantially since you applied for the card. It's better to request $15,000 and get $12,500 than to request $11,000 and get $11,000.
5. Submit the request.
Decisions often happen instantaneously, and if not, the standard response time is within 24 hours. There are three potential outcomes:
- Barclaycard approves the increase you wanted.
- Barclaycard approves a smaller increase than requested.
- Barclaycard denies any increase.
Why ask for a higher credit limit?
The main reason to increase your credit limit is to avoid high credit utilization. Since credit utilization accounts for 30% of your FICO® Score, you want to keep it as low as possible. That's easier to do with more available credit.
This is especially important when you put every purchase on your credit card, which is a smart way to maximize your rewards. For example, with the Barclaycard Arrival® Plus World Elite Mastercard®, it makes sense to use your card for all of your spending to earn as many miles as possible. But to do that, your credit limit must be high enough that you aren't using too much credit in the process.
The one thing you shouldn't do with a higher credit limit is start spending more than usual. Stick to your typical budget, and don't buy more just because you can.
Can your credit limit increase automatically?
Most card issuers, Barclaycard included, will do the occasional review of your account and potentially bump up your credit limit. With any luck, you may get that increase you want without needing to request it yourself.
Best Barclaycard credit cards
Barclaycard has quite the roster of cards, and if you're not sure the one you have is the perfect fit, you can check your options on our page with the best credit cards.
Remember that another way to increase your total available credit is to get a new credit card. Although you shouldn't do this just because, it's worth considering if you find another Barclaycard credit card that's a better match for your current financial needs, whether you're looking for a low-interest card or one of the cards that earn the biggest rewards.
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