American Express is a banking institution originally from the United States that has become an indispensable ally nationally and internationally over time. The main reason is the ease of payment they offer with their credit cards. The cards have different limits, but how can they be increased?
Thanks to these cards, you can pay bills or make purchases even if you don’t have the money available in cash or a debit account, with the only condition of committing to pay the balance spent at the end of the month. It’s an agreement of trust and responsibility, so AmEx will watch how you perform.
Increase the credit limit of an AmEx card
The credit limit of the credit card is the maximum amount that American Express allows the user to spend through the card. This amount is spent as the user utilizes the card; however, if the user pays off the balance, the money is automatically replenished.
The customer must pay at the end of the month in installments or cash for the money spent. The problem starts when you have to spend more money than you have on the card because it simply won’t go through. This is why some customers opt to try and increase their credit.
If a user wants to increase their credit, payment history, monthly income, and responsibility will be key points that the bank will evaluate when increasing the card’s limit. American Express can increase the limit without the customer asking for it simply because they believe the user is qualified for a credit increase.
However, you can also request a credit increase from American Express.
Calling AmEx to request a credit limit increase
If you want to increase your credit, you can always call the American Express server, via the number on the back of your card or by calling 1-800-528-4800.
When you call, they will ask you why you would like to increase your credit, and they will most likely review your payment and spending history, so it is good to have your balance on hand. It is good to emphasize any salary increase and note that you have time with American Express.
It is important to not ask for an exaggerated raise because AmEx will most likely reject it. The suggestion is to ask for a raise of 10% to 25% and no more than that.
Getting a new credit card with a higher limit
Another option available is to open a new account with American Express; for this, it is equally important to consider the responsibility and stability of payment because AmEx approving the new card with a higher limit will depend on this.
You may be accepted to open a new account, but with the same limit; this is not a bad scenario because you will now technically have twice the limit than before but in two different cards.
The application to open accounts with American Express can be repeated several times; the same user can handle up to 5 different cards with AmEx as long as they can prove that they can handle all five accounts responsibly.
Is it a good idea to request an increase in the credit limit?
The answer to this question varies; clearly, it is always good to manage a tighter budget. However, we must remember how much paying off the balance at the end of the month may affect us and how we manage our finances.
Higher credit certainly helps us ease payment and comes with more possibilities to generate AmEx points that will be beneficial in the future.
If you are considering asking for an increase or generating a new card, we recommend reviewing your finances and lifestyle, so that a more beneficial one does not transform into large debt.
“How to Increase Your Credit Limit.” American Express Credit Cards, Rewards & Banking, https://www.americanexpress.com/en-us/credit-cards/credit-intel/how-to-increase-credit-limit/.