If you need a credit limit increase and have a spotty financial history, you may feel like you’re in for an uphill battle. Fortunately, there are steps you can take to increase your credit limit, which will help you establish a healthy credit history. Here’s how you can be sure your finances will soon begin to improve.
Your Guide to Securing a Credit Limit Increase
Select a New Card — or Request a Higher Limit on an Existing One
Decide whether you want to apply for a new line of credit or ask for an increase on an existing one. The former option is best if you currently have a better-than-average credit rating. This simple process involves applying for a new card, waiting for approval, and receiving the new line of credit a short time later.
If your credit is subpar, consider requesting a higher limit from a current creditor. You’ll have a better shot at receiving the increase if you have a history with the creditor.
Make a Solid Case
Next, make a solid case why you deserve an increase to your existing credit limit. You’ll want to refrain from sounding in dire need of help, such as by claiming an emergency situation. While this might be emotionally compelling, it doesn’t instill a lot of confidence in creditors. Instead, establish how long you’ve been a loyal customer, show that you’re using much less than your total credit limit currently, and highlight how your payments are consistently made on time.
Work With the Right Company
You can achieve a credit limit increase by working with a credit counseling company. A reliable business will leverage their expertise to provide solutions for your financial woes, all while explaining the process to you in a clear and concise manner.
Get your financial situation back on track and achieve a credit limit increase by contacting a professional service. With the assistance of You're Approved in Melville, NY, you can begin building a solid credit history. Learn more about debt management options today by calling (631) 683-3303. You can also follow this highly reputable credit counseling company on Facebook for more financial tips and hints.