How to get a credit increase with wells fargo

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You can request a Wells Fargo Cash Wise credit limit increase by calling customer service at 1-800-642-4720.

Alternatively, log into your Wells Fargo online banking account and go to the “Manage Credit Limit” tab to perform this operation online.

Your account must be open for at least one year and needs to be in good standing for you to be eligible for a credit limit increase.

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combat_cook8, Member

@combat_cook8 • 02/19/20 This answer was first published on 02/19/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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I got a $2K increase over the phone after 8 months of having this card..

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Joseph Vandal, Member

@josephv_56 • 10/17/19 This answer was first published on 08/25/17 and it was last updated on 10/17/19.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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I was told they do periodic reviews at 6-month intervals. However, I typically ask for a CLI every 2 to 3 months for a 35 to 70% increase and have a solid justification ready if asked.

A high credit limit is an integral part of your credit score and purchasing power. But you can only request a credit line increase after you’ve used your card responsibly for a minimum of six months. After that, you can see if you’re eligible to request a credit line increase.

Access your online credit card account and check your credit limit in the account summary. If you rarely use your online account, look for your credit line on your monthly credit card statement.

You have three options to increase your Wells Fargo credit limit.

• Call the bank
• Get an automatic credit limit increase
• Apply for another card

Call the bank

If you’re eligible for a credit line increase, here’s what to do:

1. Call Wells Fargo at 800-642-4720.
2. Provide a reason for your request, such as higher income, upcoming expenses like a wedding, honeymoon or home renovations.
3. Ask for a reasonable credit limit increase. If you don’t want to risk throwing in numbers, ask for the standard credit limit increase amount.

Get an automatic credit limit increase

Sometimes, you don’t have to ask Wells Fargo to get a credit line increase — they’ll do it on their own. But to get an automatic credit line increase, you must:

• Use your card regularly. Try to charge as many purchases as possible to your card to show you could use a higher credit limit.
• Use a higher amount of your credit line. Use more than half of your credit limit. It won’t make much sense if you use 10% and ask for an increase.
• Pay your full balance on time. Otherwise, Wells Fargo may be reluctant to approve a credit line increase.

Apply for another card

Aside from getting another line of credit, you can choose a card with a host of additional perks.

All credit cards in the table below come with a higher credit line compared to other cards. However, there’s no guarantee you’ll get approved for a higher credit line because it depends on multiple factors, including your annual income, employment, creditworthiness and more.

Here are the things that impact the amount you can borrow:

• Income. It’s simple. You earn more, you spend more. With higher income, chances are you get a higher credit line.
• Creditworthiness. Prove to the bank you can manage debt and that you pay off your balance on time. High credit score and clean credit history will back you up.
• Relationship with Wells Fargo. Get rewarded with a higher credit limit if you’re loyal to the bank. Of course this isn’t guaranteed, but it can certainly help.
• The type of card you apply for. High-end credit cards tend to come with a high credit limit. For example, Visa Signature cards come with a minimum credit line of $5,000.

Get a credit limit increase on your Wells Fargo credit card with active and responsible credit card use. The only way to increase your credit line on your request is to call the bank. Alternatively, you can wait for Wells Fargo to increase your credit limit on their own.

But if you don’t want to wait for an automatic credit line increase or if you keep getting your request denied, consider applying for a new credit card.

• Can requesting a credit limit increase affect my credit score?

  Yes. Wells Fargo may do a hard pull on your account. This can cause your credit score to drop by a few points. Luckily, the hard inquiry only stays on your credit history for a short time.

  If you do get a credit line increase, it will lower your utilization rate across all cards, and this will positively affect your credit score.

• Can I request a Wells Fargo credit limit increase online?

  Unfortunately, no. You can only request a credit line increase by phone.

• When is the best time to request a credit limit increase?

  This is subjective. However, a fair guideline is to request a credit line increase when:

  • You meet the eligibility criteria.
  • You are regularly using a large portion of your credit line.
  • You plan to close another credit card but you want to keep your utilization ratio low.

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