How to increase your credit card limit

Information verified correct on April 29th, 2017

credit-limitLearn how to get a credit limit increase and access more cash with your credit card.

If you use your credit card regularly, requesting a higher credit limit could help you avoid penalty fees, earn frequent flyer points on big ticket items or allow you to consolidate balances onto one card.

Use this guide to find out how to request a credit limit increase with your provider and what to consider before deciding if increasing your credit limit is right for you. You can also look at tips to improve your chances of getting approved for a higher credit limit and compare credit cards with high minimum credit limits so that you can find a card that works for you.

Citi Clear Platinum

Citi Credit Card Offer

The unique situation with the Citi Clear Platinum, is that it offers you a low interest rate on purchases, as well as the benefits of being a Platinum VISA credit card. You will get access to a Visa concierge to get you anything at any time.

  • $99 p.a. annual fee
  • 14.99% p.a. on purchases
  • Cash Advance Rate of 21.74% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $35,000 p.a.
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How to increase the credit limit on your credit card

The first step is to ask your bank for a credit limit increase. Here’s how you can initiate an increase to your credit limit with different credit card providers:

BankHow to increase the credit limit
American ExpressLog into your American Express account and make your request. Processing is immediate and your credit limit will be increased within the hour if approved.
ANZSign into ANZ Internet banking, select your credit card account, then select "Apply for a credit card limit increase". You will then be prompted to fill out an online application form. This online service is only applicable to personal credit cards, and you must be the primary credit cardholder. For business credit card requests, visit an ANZ branch, or call 13 22 73 at any time.
Bank of MelbourneLog into Bank of Melbourne internet banking, look under "Manage my accounts". Under the "Card services" heading, select "Increase credit card limit" to make your request. You can get an instant response when applying online. Otherwise, call 13 22 66 and say “increase card limit” when prompted. Bank of Melbourne stipulates that you can only apply for a credit limit increase six months after your account opening date or last requested increase.
BankwestLog into Bankwest online banking, select "Forms" under "Self service", and register for credit card limit increase invitations. Otherwise, visit a Bankwest branch or call 13 17 19.
CitiLog into Citi Online, and go to "My offers" to accept an increase, or call Citi on 13 24 84. Citi stipulates that you can only request a credit limit increase nine months after your account opening date or last requested increase. Your credit limit cannot be increased by more than 50% of your current limit, or beyond the product maximum.
Coles MasterCardCall 1300 306 397 to apply. You will be asked a few questions over the phone regarding your current income and expenses, and your credit limit will be increased on the same day if approved.
Commonwealth BankOpen your NetBank to register for credit limit increase invitations, or complete the physical form for submission at any branch. The bank will send you an invitation when you are conditionally approved, and you can then apply for your limit increase through a much shorter process. Otherwise, visit any CommBank branch or call 13 22 21 for assistance.
HSBCYou will need to download and complete the "Credit Limit Increase Request form" to be submitted by fax to 02 8987 5923, or by post to HSBC Card Services, Reply Paid 4263, Sydney NSW 2001. HSBC stipulates that you can only apply for a credit limit increase six months after your account opening date or last requested increase, provided your account has been kept in good order.
NABWhen you log into NAB internet banking, open the "Apply now" menu, select "Credit card credit limit" and make your request. Otherwise you can download and complete the "Credit card limit increase/decrease application" for submission at any NAB branch, by fax to 1300 363 689, or by post to Consumer and Commercial Cards, Reply Paid 9992, Melbourne VIC 8060. Alternatively, you can call 13 22 65 (8am-7pm Monday-Friday, 9am-6pm on weekends AEST/AEDT) or +61 3 8641 9083 from overseas.
St.GeorgeLog in to St.George internet banking, look under "Manage my accounts", select "Card services", then select "Increase credit card limit". You can get an instant response when applying online. Otherwise, call 1300 784 934 and say “increase credit card limit” when prompted. St.George stipulates that you can only apply for a credit limit increase six months after your account opening date or last requested increase.
WestpacLog in to Westpac online banking and select "request a credit limit increase". Alternatively, bisit any Westpac branch, or call 1300 130 961. You can also register for credit limit increase invitations online, or call 1300 651 089 (8am-8pm, Monday to Friday).

Credit limit increase offers

Your credit card provider may also offer to send you invitations to increase your credit limit. This service is only available if you opt-in to receive the invitations. Contact your provider directly to find out more.

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What should I consider before requesting a credit limit increase?

When you first get a credit card, your bank or provider will usually assign you with an affordable credit limit for your circumstances. This limit is based on factors in your credit card application including your income, expenditure, existing debt and credit score or credit rating.

If you get a credit limit that's too high, you'll increase the risk of ongoing debt. Submitting a request for a credit limit increase also impacts on your credit history. So before deciding if you want a credit limit increase, it's a good idea to consider whether or not these circumstances have changed.

Why you should or shouldn’t increase your credit card credit limit

Why you should

  • Credit score. If you can afford a higher credit limit, it could help improve your credit score by providing you with a lower credit utilisation ratio (the amount of credit used compared to the amount of credit available).
  • Increased spending potential. You’ll enjoy greater spending power, because you can make larger purchases without worrying about maxing out your card.
  • More rewards potential. A higher credit limit means you can use your card for more purchases and maximise the points you earn per $1 spent on a rewards or frequent flyer card
  • Emergency funds. You’ll have a bigger safety net in case of an emergency.

Why you shouldn’t

  • Credit history. When assessing your application, the bank will make an inquiry into your credit history. This credit inquiry is then recorded on your credit report and can negatively affect your credit score.
  • Potential rejected application. If your request is denied, it will impact your credit score and you’ll have to wait longer before your next application. Lenders tend to get suspicious when they see many credit inquiries made within a short period of time listed on your credit report.
  • Monthly repayments. A higher credit limit also means higher minimum monthly repayments.
  • Debt risks. Having more credit could increase your spending and lead to more debt if you’re not disciplined.

What happens if I go over my credit limit?

Although your credit limit generally sets the ceiling for your credit card spending, some card companies may let you exceed that limit and some may also charge you a penalty for going over your limit. Make sure you check these details with your credit card company so you can avoid additional fees if you max out your card.

How to increase your chances of being approved for a higher credit limit

  • girlprepsdocuemntsUse your card regularly. Card providers generally favour cardholders who use their cards frequently and pay off their balances on time. This shows them two things: firstly, that you have need for a higher credit limit, and secondly, that you can to handle credit responsibly.
  • Make payments on time and pay your balance in full. Timely payments greatly improve your chances for approval because they show the bank that you are a responsible and low risk borrower. Paying off the full balance also shows the bank that you’re capable of managing a higher credit card limit.
  • Optimise your credit score. Always protect your credit score by making payments on time. Even late payments on phone and utility bills, car loans or personal loans can hurt your credit report and deter the bank from increasing your credit limit.
  • Don’t ask too soon or too often. Unless otherwise stipulated, credit card providers typically review your account after six months. Asking before that time could raise alarm bells and hurt your chances of a future credit limit increase. Asking again too soon after a previous request can have a similar outcome.
  • Don’t ask for too much. Prudence can go a long way when it comes to requesting a credit limit. It is better to ask for a conservative 10-25% increase than to wildly shoot for more. Unless your circumstances have drastically changed, your request should be capped at 30% more than your current limit.
  • Apply for a card with a high minimum credit limit. Premium credit cards typically offer higher minimum credit limits than standard cards. If you meet the eligibility requirements for these cards, you could compare your options and apply for one that suits your spending habits and needs.

Even if a credit limit increase isn’t on the cards for you yet, all the above suggestions are good habits to practice. The underlying principle is to establish healthy credit history by borrowing and repaying responsibly. A credit limit increase may be good to have but it shouldn’t increase your spending dramatically, or negatively impact your ability to repay. So only apply for a credit increase if you can afford it, and spend responsibly.

Comparison of High Credit Limit Credit Cards

Rates last updated April 29th, 2017.

Citi Rewards Platinum Credit Card

Points earn rate changed from 1.25 to 1 Citi Reward Point per $1 spent on eligible spend.

April 3rd, 2017

Virgin Australia Velocity Flyer Card - 0% Interest Offer

0% purchase and balance transfer offers have been extended until 15 June 2017.

April 3rd, 2017

Virgin Money Low Rate Credit Card

Balance transfer period has changed from 6 months to 12 months and is valid until 15 June 2017.

April 3rd, 2017

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Min credit limit Max credit limit Minimum Income
HSBC Platinum Qantas Credit Card
HSBC Platinum Qantas Credit Card
19.99% p.a. $199 p.a. $6,000 $40,000 Go to site More info
Citi Qantas Signature Credit Card
Citi Qantas Signature Credit Card
20.99% p.a. 0% p.a. for 6 months $199 p.a. annual fee for the first year ($395 p.a. thereafter) $15,000 $100,000 $75,000 Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) $6,000 $100,000 $35,000 Go to site More info
Qantas American Express Discovery Card
Qantas American Express Discovery Card
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. $2,000 $100,000 $35,000 Go to site More info
Qantas American Express Ultimate Card
Qantas American Express Ultimate Card
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $450 p.a. $3,000 $50,000 $65,000 Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. $6,000 $100,000 $35,000 Go to site More info
Emirates Citi World Mastercard
Emirates Citi World Mastercard
20.99% p.a. 0% p.a. for 9 months $149 p.a. annual fee for the first year ($299 p.a. thereafter) $15,000 $100,000 $75,000 Go to site More info
Westpac Low Rate Card - Online Only Balance Transfer Offer
Westpac Low Rate Card - Online Only Balance Transfer Offer
13.49% p.a. 0% p.a. for 24 months with 2% balance transfer fee $59 p.a. $1,000 $25,000 $15,000 Go to site More info
American Express Velocity Platinum Card
American Express Velocity Platinum Card
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $349 p.a. $3,000 $100,000 $65,000 Go to site More info
Citi Rewards Signature Credit Card
Citi Rewards Signature Credit Card
20.99% p.a. 0% p.a. for 6 months $199 p.a. annual fee for the first year ($395 p.a. thereafter) $15,000 $100,000 $75,000 Go to site More info
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6 Responses to How to increase your credit card limit

  1. Default Gravatar
    Adam | July 1, 2015

    Hi,

    I need a credit card limit of $60,000 -$80,000 can I get this sort of limit on application?

    My credit history has no defaults my credit score is 593 currently I have a few smaller credit limits of $2000, $6000.

    I earn $80,000 a year gross.

    Any help with which providers are more lenient would be great?

    • Staff
      Jonathan | July 8, 2015

      Hi Adam, thanks for your inquiry!

      Please see the following link for Platinum, Gold & Black credit cards which have higher credit limits. The available credit limit on the credit card will depend on the lender’s criteria. As a result it would be best to contact the provider before completing an application to better assess your personal needs.

      Cheers,

      Jonathan

  2. Default Gravatar
    buyiswa | June 2, 2015

    I want to increase my instant credit limit

    • Staff
      sally.mcmullen@hiveempire.com | June 2, 2015

      Hi Buyiswa,

      Thank you for your comment.

      Depending on your card and bank, you may wish to contact your bank directly to discuss your options.

      However, if you have any more specific questions, feel free to contact us and we will try to provide you with further assistance.

      Thanks,

      Sally

  3. Default Gravatar
    eric | March 13, 2015

    I have African Bank credit card silver and i want a credit in it, can i get it?

    • Staff
      Jonathan | March 16, 2015

      Hi Eric, thanks for your inquiry.

      Credit limit increases can be requested by contacting your respective bank/ lender.

      Cheers,

      Jonathan

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