We all know American Express is known for catering to the well-to-do, and in turn, giving out high credit limits. However since “the great recession” happened, they’ve gotten more conservative which sometimes leaves cardmembers disappointed. Well if that’s you, have no fear… it is possible to get an American Express credit limit increase in some circumstances!
Method #1: Apply for a new account and re-allocate your credit Limits
There have been many complaints on our forum that when people request an increase, often times the amount given (if given at all) isn’t much and they have to take a hard credit inquiry to get it.
Since you’re going to have to take a credit inquiry, here’s a better idea..
American Express will let you re-allocate credit limits on your personal (non-business) cards. So if you have two different cards each with $10k limits, for example, you may be able to move $5k from one and add it to another (leaving you with a $15k limit on one card and a $5k limit on the other). Personally speaking, I had success using this technique – I had an unused Blue Card with a $16k limit and I transferred $15k of its limit to another AmEx credit card.
But what happens if you don’t have any other AmEx accounts – OR – you do and you don’t want to decrease their limits? Well, many people reportedly have had great success by opening a brand new account and then re-allocating some of its credit limit to the card you want to have a higher limit on. In fact I’ve heard from many who have been more satisfied going this route, then the amount of increase they get if request the usual way.
What are the best offers for 2013 to do this with?
The Green/Gold/Platinum don’t have preset limits, so you won’t want one of those. Instead you will want one of their credit cards. Here are the best promotions for them as of November/December 2013. Choose one that you don’t already have:
- Gold Delta SkyMiles (they gave me a huge limit on mine)
- Blue Cash Preferred
- Blue Cash Everyday
- Starwood Preferred Guest
Method #2: Request An Increase on Existing Account (Not Advisable)
This is the most conventional way to go about increasing your credit card’s limit, but also the least preferable due to the (1) hard credit inquiry, and (2) you might only get a very small credit line increase, if you get one at all.
It used to be that you could request a credit limit increase from the AmEx website quite easily when you were logged into your account. However you’ve probably noticed that option is no where to be found over the last few years, not even on the account services page (seen above).
There used to be a tab for “LINE OF CREDIT” and when you clicked on it, a drop down option would appear for “INCREASE YOUR LINE OF CREDIT”
Unfortunately it is no longer possible to do this through their website. In order to try, you have to call up customer service and make a formal request.You can give it a try, but many people on our American Express forum complain that they haven’t had good luck that way; either their request is denied altogether or they are only granted a very small increase.
The worst part is that they still get a “hard pull” credit inquiry that will now show up on their credit report. And if you’re going to do a hard pull, you might as well do it for something worthwhile like applying for a new card that lets you earn some sort of bonus.
This post was written or last updated November 20, 2013